Paycheck Protection Program — CARES Act Emergency Funding | Biz2Credit

Summary

A Biz2Credit web page on the Paycheck Protection Program under the CARES Act, headed "Apply by June 30 th to Qualify for Loan Forgiveness". It states that Congress passed the 2020 CARES Act making up to $350 billion in loans available to small businesses, that companies can receive up to 2.5x their average monthly payroll amount, and that loans can range up to $10 million. It lists IRS Form 940, IRS Form 941, business tax returns, a payroll summary report and entity formation documents to prepare before applying, and sets out a loan process in steps ending with funds in the account after 8 weeks. The page states that Biz2Credit is not a lender.

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Paycheck Protection Program

CARES Act Emergency Funding – Apply by June 30 th to Qualify for Loan Forgiveness

If your business has been harmed by the global Coronavirus pandemic, you can get financial assistance. Biz2Credit is offering support for businesses that need it. Apply now for a loan under the CARES Act Paycheck Protection Program.

DISASTER HOTLINE: 855-232-4055

DISASTER LOANS INFO

The United States Congress recently passed the 2020 CARES Act which will make up to $350 billion in loans available to small businesses impacted by Coronavirus.

Loan forgiveness for these loans is available for businesses that meet the requirements of the Paycheck Protection Program and maintain or restore their payroll volumes to pre-crisis levels.

These loans are meant for businesses trying to maintain payroll levels. Companies can receive up to 2.5x their average monthly payroll amount.

For those who qualify, loans can range up to $10 million and must be submitted by June 30th .

BE PREPARED TO APPLY

Loans under the Paycheck Protection Program have unique documentation requirements that business owners must meet. Please be prepared to provide the following before you apply.

- IRS Form 940
- IRS Form 941 (payroll)
- Business Tax Returns
- Payroll Summary Report
- Entity Formation Documents

The Paycheck Protection Program Loan Process

Step 1

Fill Out the PPP Application

Step 2

Upload Required Documentation

Step 3

Lender Verifies Information

Step 4

The SBA Accepts Your Application

Step 5

Get Funds in Your Account

After 8 Weeks

Loan Forgiveness Eligibility Verified

Fast Online Process

Complete loan application for the Paycheck Protection Program online. Upload your required document and fill in a short questionnaire about your business. It's fast and secure. A Funding Specialist will get in touch with you to complete the process.

Disclaimer: Your Paycheck Protection Program (PPP) loan application is subject to our Business Finance Terms and Conditions . Please note that your proposed PPP loan is also subject to SBA eligibility and other requirements including documentation and size requirements. PPP loans are issued at the sole discretion of the lender and the SBA in accordance with their respective rules and other federal guidelines. Approved PPP loans are governed by definitive documentation of the lender, which incorporate PPP terms and conditions. Biz2Credit is not a lender.

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