SBA- PPP (Paycheck Protection Program) is Released; Apply Online!
Get SBA Funding with Second Round of PPP (Paycheck Protection Program):
- Loans up to $2 Million- Interest rates at 1%- No Payments for 10 months- First and Second Draws (Can apply of First or Second Draw)- Potentially 100% forgivable- Apply Online- easy to apply- Reliable working Capital, Up to 2.5x your average monthly payroll costs
**You Would Apply Online. If You Meet The Requirement Below We Would Apply Online. Let Me Know and We Will Get You Submitted Online. Email us - [email protected]**
First Draw
general requirements
- Be a small business or sole proprietor, independent contractor, eligible self-employed individual, non-profit organization, tribal concern, housing co-op, small agricultural co-op, or other entity affected by COVID-19 in an applicable industry
- Have 500 or fewer employees
- In operation on February 15, 2020
Second Draw
general requirements
- Be a small business or sole proprietor, independent contractor, eligible self-employed individual, non-profit organization, tribal concern, housing co-op, small agricultural co-op, or other entity affected by COVID-19 in an applicable industry
- Demonstrate a ≥25% reduction in gross receipts in 2020 compared to 2019
- Have 300 or fewer employees2
- Have used (or will use) the full amount of the first PPP Loan on eligible expenses
- In operation on February 15, 2020
What you need to apply
Payroll documentation is required. BlueVine recommends these documents, which have a higher likelihood of going through our automated system.
First Draw applicants
Small business with employees
- Quarterly 941 forms, yearly 940 or 944 forms, 1120- S forms, or payroll documentation with a corresponding letter from the payroll processor
Contractors or non-employers3
- 2019 1040 - Schedule C or F form, 1099-MISC
Second Draw applicants
Small business with employees
- Quarterly 941 forms, yearly 940 or 944 forms, 1120-S forms, or payroll documentation with a corresponding letter from the payroll processor
Contractors or non-employers
- 2019 1040 - Schedule C form
For Second Draw applicants only
If your loan request is over $150K, you will also be required to submit documents at the time of your application that demonstrate a 25% reduction in revenue compared to the same time period in 2019, which may include tax forms, quarterly financial statements, or bank statements.
**If you meet the requirements and want to apply for the PPP program send me a email and we can get you processed online. Email - [email protected]***
**If you have W2 employees well Also have Cares Act Hiring Incentive Tax Credit to get up to $14K for prior, current, and future employees; this is extra money to you as well**
Contact us - www.prestigebfs.com
Prestige Business Financial Services LLC
Website - www.prestigebusinessfinancialservices.com
Email - [email protected]
Phone - 1-800-622-0453
