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Paycheck Protection Program
Small businesses need a lifeline right now, and the federal government has stepped up to offer Paycheck Protection Program loans. Because of the pared-down SBA requirements for PPP loans, more small businesses will qualify for the SBA coronavirus loans than previous SBA loan options.
Paycheck Protection Program Loan Requirments
The requirements for PPP loans are incredibly simple. Your business only needs to hit 2 criteria:
- Your business (or nonprofit) was in operation as of February 15, 2020
- You’re an independent contractor or sole proprietor, or your business/organization has either employees or independent contractors for whom they have associated payroll costs
- You certify that your business has sustained economic damage due to COVID-19
That’s it.
Low Interest Rate
1% fixed rate APR for the life of the loan
Loan Forgiveness
On qualified uses like payroll, mortgage interest, rent, and utilities
Small Business Loans
PPP loans differ from Economic Injury and Disaster Loans (EIDLs). PPP loans are available to all US businesses
Let CMC Connect You With
Paycheck Protection Program
low interest rates, starting in the
1%-6%
from $250K to
$250 MM
as high as
80%
By using our unique team of private lenders, we can avoid the red tape common with traditional lending. Don’t let your dream deal be just a dream. Call Commercial Mortgage Connection to make it real.
Find out the keys to finding your ideal investment in our blog article, What to Look for in an Investment Property.
