On Friday, March 27, the president signed the $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act into law, providing a wide range of urgently needed financial relief across many vulnerable economic sectors.
Most notably for small business owners, the package includes low-interest loans (4 percent or less) to help small businesses (those with fewer than 500 employees) pay operating expenses through the end of June.
The funding allocated for small business comes with some conditions: You must maintain current employment levels through June 30 and use the loaned funds for ongoing expenses like payroll, healthcare, rent and utilities. There’s also good news:
• No collateral is required
• The CARES-funded loans are federally backed
• Some or all of the principal can be forgiven
• You can apply for up to $10 million(1)
We can help you access SBA funding under the CARES Act
Whether you already have an account with Pango Financial or you’re just considering one, our small business funding specialists can walk you through the details and help you get your paperwork completed. We’ve received thorough training in the processes and procedures required, and we can help you determine the best avenues for securing the funds you need. Our immediate goal is to help you continue operating during this challenging period. To speak with one of our specialists, call 1-855-WHY-PANGO (1-855-949-7264).
We’re in this together
Since 2012, we’ve built our reputation, and our success, by helping small business owners realize their dreams with innovative, flexible funding programs that support growth. That commitment has never changed. And during today’s unprecedented economic conditions, we’re as eager as ever to stand with you, partner with you and provide the expertise, guidance and resources you need.
While we’d like to be your lender of choice in the short term, we also remain focused on the sustained recovery that lies ahead. Working together, we have the tools to help your business emerge stronger than ever, poised to capitalize on opportunities as they emerge, long after the face masks and ventilators fade from view.
For innovative funding options and reliable guidance, count on the expertise of our small business funding specialists. We’ll help you get your business capitalized so you can be primed for growth. Call 1-855-WHY-PANGO (1-855-949-7264).
(1 ) Senate.gov