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Let us help you apply for the PPP funding

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UPDATE December 23, 2020: The second round of PPP financing has been approved! The specific qualification details for application process have not yet been released. We expect that the final program parameters will be  finalized by the SBA shortly. All updates will be published here.

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Apply Now and we will update you as soon as the program begins!

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We expect the second round of PPP will be structured similar to the first round.

Please see the information below about the first PPP program.

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What is the Paycheck Protection Program (PPP)?

This is a new program offering loans up to $10 million at a 1% interest rate, calculated based on 2.5x your average monthly payroll costs. As long as you use the proceeds of the loan under the rules, these loans are 100% forgiven by the government.

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What are your "payroll costs"?

  • Salary, wages, commissions, or tips (capped at $100,000 on an annualized basis for each employee)

  • Employee benefits including costs for vacation, parental, family, medical, or sick leave; allowance for separation or dismissal; payments required for the provisions of group health care benefits including insurance premiums; and payment of any retirement benefit

  • State and local taxes assessed on compensation

  • For a sole proprietor or independent contractor: wages, commissions, income, or net earnings from self-employment, capped at $100,000 on an annualized basis for each employee


What are the rules to get the loan forgiven?

The SBA will forgive 100% of the loan as long as you use 60% of the money for payroll costs within 24 weeks after you receive it until December 31, 2020.

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Who qualifies?

Small businesses with fewer than 500 employees (subject to certain limited exceptions); independent contractors; and sole proprietors in business on February 15, 2020 can all qualify. Additionally, the following groups can qualify:

  • A business that operates an accommodation or food service business (NAICS Code 72) with 500 of fewer employees per location

  • A business assigned a franchise operator code by SBA

  • A business that receives assistance under the Small Business Investment Act 

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How much can I get?

Assuming you qualify, you calculate the max loan value by:  

  • Aggregating all annual payroll costs of US-based employees and subtract compensation over $100,000 paid to employees or independent contractors.

  • Calculating the average monthly payroll costs (take total annual payroll and divide by 12)

  • Multiplying the average payroll costs by 2.5

  • Subtracting any Economic Injury Disaster Loan (EIDL) amount for which you’ve already received an advance from January 31 2020- April 3, 2020

eligible for forgiveness

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Loans forgiven for eligible payroll, utilities, rent, and mortgage interest. Any amount not forgiven will have a 1% interest rate.

payroll based

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Loans up to $10 million, with the max amount based on average monthly payroll x2.5.

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get funds fast

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PPP Applications can be processed and funded within 72 hours.

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