Accelerated PPP 2.0 Program — MBECP

Summary

A web page for the Accelerated PPP 2.0 Program of MBECP, which calls itself a FinTech company and states it financed over $1.7 billion in 2019. Under Our Results it lists an SBA-approved lender that funded $309M in PPP 1.0 loans, processed 13,000 PPP 1.0 applications, had an average loan size of $20,730, and sent 50% of loans to sole proprietors. For PPP 2.0 loan calculations it states a payroll multiple of 3.5 for NAICS Codes beginning with 72 (the hospitality industry) and 2.5 for all other NAICS Codes. It lists required documents by business structure, such as IRS Form 1040 Schedule C for a sole proprietor.

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Accelerated PPP 2.0 Program Accelerated PPP 2.0 Program

APPLY FOR PPP 2.0 NOW

ABOUT MBECP

We are a FinTech company providing a full range of financial solutions that allow businesses to grow and scale by managing their cash flow effectively. In 2019, MBECP financed over $1.7 billion and was named to Inc. 5000 List in 2020. At MBE Capital Partners (MBECP), we have been and continue to be committed to helping small businesses navigate challenging times.

Our Results

- SBA-approved lender
- Funded $309M loans in PPP 1.0
- Processed 13,000 PPP 1.0 applications
- Average loan size of $20,730
- 50% of loans went to Sole Proprietors

Our Promise

- Direct lender underwriting all loans
- SBA approved lender
- Intuitive online application
- Dedicated client experience team
- Seamless user experience

PPP 2.0 Application Process

Types of Businesses Eligible for PPP 2.0 Loan

Included but not limited to…

SMALL BUSINESSES

Examples Include:

Doctors

Lawyers

Day cares

Restaurants

Accountants

CONTRACTORS

Examples Include:

Artists

Drivers

Beauticians

Clergy and Lay Ministers

Landscapers & Painters

NONPROFITS

Examples Include:

Senior Centers

Religious Institutions

After School Programs

Homeless/Domestic Shelters

Educational Entities

PPP 2.0 Loan Calculations

The formula for determining the amount of a PPP 2.0 loan has been changed based on industry.

For entities with NAICS Codes beginning with 72 (the hospitality industry) the payroll multiple is 3.5. For all other NAICS Codes use the 2.5 multiple.

To find your NAICS code, CLICK HERE.

Required Documentation by Business Structure

SOLE PROPRIETOR without EMPLOYEES

REQUIRED DOCUMENTATION

IRS Form 1040 Schedule C IRS Form 1099-MISC

CALCULATION OF LOAN AMOUNT

On Schedule C:

Add line 26 + 31 Divide by 12 Multiply by 2.5

SOLE PROPRIETOR with EMPLOYEES

REQUIRED DOCUMENTATION

IRS Form 1040 Schedule C IRS Form 941s Q1 to Q4 OR annual 944

CALCULATION OF LOAN AMOUNT

On Schedule C:

Add line 26 + 31 Divide by 12 Multiply by 2.5

PARTNERSHIPS OR LLCs without EMPLOYEES

REQUIRED DOCUMENTATION

IRS Form 1065 Schedule K-1

CALCULATION OF LOAN AMOUNT

On the K1:

Line 14 Divide by 12 Multiply by 2.5

PARTNERSHIPS OR LLCs with EMPLOYEES

REQUIRED DOCUMENTATION

IRS Form 1065 Schedule K-1 IRS Form 941s Q1 to Q4 OR annual 944

CALCULATION OF LOAN AMOUNT

On the K1:

Line 14 Divide by 12 Multiply by 2.5

S or C CORPORATIONS

REQUIRED DOCUMENTATION

IRS Form 941s Q1 to Q4 OR annual 944

CALCULATION OF LOAN AMOUNT

On the 941 or annual 944:

Add Q1 to Q4 wages from 941s or annual 944 Divide by 12 Multiply by 2.5

NONPROFITS

REQUIRED DOCUMENTATION

IRS Form 990 IRS Form 941s Q1 to Q4 OR annual 944

CALCULATION OF LOAN AMOUNT

On the 941 or annual 944:

Add Q1 to Q4 wages from 941s or annual 944 Divide by 12 Multiply by 2.5

APPLY FOR PPP 2.0

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