Blueacorn.co, "About PPP"
Summary
This Blueacorn.co information page, titled "About PPP," describes the Paycheck Protection Program as a $953-billion business loan program established by the CARES Act in 2020 to supplement incomes lost or reduced due to the COVID-19 pandemic. It says small businesses, self-employed individuals, freelancers and gig workers are eligible for the low-interest private loans, and that anyone who receives a 1099 or files a Schedule C is likely eligible. The page says the first round of funding ended in August of 2020 and gives the second round's closing date as March 31, 2020, with a potential extension to May 31, 2021. It states that Blueacorn is 100% free to applicants because the CARES Act mandates that the SBA pay a fee, split between Blueacorn and the lending bank, only if the loan is approved.
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Full text
Information & Resources About PPP The PPP allows small businesses and independent workers to apply for low-interest private loans to help pay for their payroll and other costs. As well as businesses, self-employed individuals, freelancers, and gig workers workers are also eligible for PPP funds. What is the PPP? In 2020 and 2021, many workers were negatively affected by changes to business caused by the global COVID-19 pandemic and related economic slowdowns. The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the federal government’s Coronavirus Aid, Relief, and Economic Security (CARES) Act in 2020 to supplement incomes lost or reduced due to the COVID-19 pandemic. The first round of funding ended in August of 2020. The second round is currently open until March 31, 2020 with the potential for a newly extended deadline of May 31, 2021. Source Eligibility The PPP allows small businesses and independent workers to apply for low-interest private loans to help pay for their payroll and other costs. As well as businesses, individuals like your contractors and commission-based workers, are also eligible for PPP funds. Anyone who receives a 1099 and/or files a Schedule C is likely eligible. Worth Noting Blueacorn is 100% free to you. The CARES Act mandates the SBA pay a fee that gets split between Blueacorn and your lending bank if – and only if – the loan we help you submit gets approved. We Can Help Blueacorn can guide you through the process and make it as easy as possible to apply and get funded. Apply Now More Resources Helpful Links About the program PPP loan forgiveness
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