Get Approved for an SBA Paycheck Protection Program loan now!
We’ve partnered with Kabbage to help you access critical funds through SBA’s Paycheck Protection Program. Apply online for the relief funds your business needs.
What is the Paycheck Protection Program (PPP)?
In the most basic of terms, the PPP was established by section 1102 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act) to provide a direct incentive for small businesses to keep their workers on payroll.
This helps not only keep the economy on a more even keel without letting workers become unemployed, but also shows a strong vote of confidence that we will need to keep businesses as whole as possible for when the pandemic is over. Small businesses can borrow up to $10 million dollars under this plan and best of all, it can be completely forgiven by the government if the business follows the terms and conditions established.
What can I use PPP loan funds for?
The primary purpose of PPP loans is to help businesses retain their existing staff. Businesses who use the funds to do this may be eligible for a 100% forgiveness incentive.
The funds can be used for expenses such as:
- Payroll costs, including benefits
- Interest on mortgage obligations, incurred before February 15, 2020
- Rent, under lease agreements in force before February 15, 2020
- Utilities, for which service began before February 15, 2020.
What are the steps I need to take to get pre-qualified?
Step 1: GATHER DOCUMENTS
Gather some information in order to help us determine a qualified loan amount. This includes:
- Your average monthly payroll amount
- The number of employees you had on February 15, 2020
- What you will be using the loan for ie payroll, healthcare costs including insurance premiums, mortgage interest payments, rent, utilities and/or interest on any other debt obligations incurred before February 15, 2020
Step 2: APPLY
Apply by filling out your information and start the pre-qualification process!
