2021 PPP Relief Loans

The next round of Paycheck Protection Program (PPP) funding is here.  PPP loans allow eligible borrowers to obtain favorable terms, with the possibility of loan forgiveness.  During these difficult times, it allows business owners to stay afloat and rebuild their business.

If you're applying for the first time or considering  a second PPP loan, we can help.  In the first round, many PPP bank funders had a very difficult time processing these loans for multiple reasons.  As a result, many organizations elected to not participate in this round of PPP funding.  The Central Funding Exchange LLC   changed many of its funders from the initial round and has focused its next round with a long term partner who has provided SBA loan packaging to us for years.  This loan partner is the #1 online platform helping banks in its network fund nearly $4 billion in SBA, PPP and bank term loans. 

R

 

PPP loans offer:

  • 1.00% interest rate

  • 5 year repayment term

  • No lender or government fees

  • No collateral or personal guarantees required

  • Possible forgiveness available

 

PPP loans can cover:

  • Employee payroll

  • Worker protection equipment, including PPE

  • Group health insurance expenses

  • Rent/mortgage payments

  • Essential supplier costs

 

Qualifications and amounts:

  • Small businesses with 300 or fewer employees that have sustained a 25 percent (or more) revenue loss in any quarter of 2020 are eligible to apply for a second draw PPP loan

  • The maximum second draw PPP loan will be the greater of $2 million or 2.5x average monthly payroll similar to the initial first draw PPP loans.  (3.5x if your business is in NAICS code 72)

 

Click below to 

APPLY NOW

 

Once this information is received and uploaded, you will receive a direct portal that will be used throughout the funding of the loan.  The approved PPP funds are set to end on March 31, 2021.  During the first round in 2019, the funds ran out before the end date.