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PPP Funding

SBA Payroll Protection Program

It’s January 18, 2021 and PPP Funding is  now available.  Read through this page to find out how to best qualify for  PPP loan forgiveness.  

If you’ve applied & obtained the Payroll Protection Program loan before you may be aware of the 1st round requirements.   The requirements are similar for 2nd round with some additions.


Click here for a prep list if you are applying for PPP Funding for the 1st time.

Click here for a prep list if you were approved during the 1st round and you are now applying for PPP a 2nd time.

Here is the general criteria an applicant should know:

1.       Loans up to $2 million at 1% for new & repeat PPP borrowers

2.       Simplified forgiveness under $150k with appropriate atteststation

3.       PPP borrowers may be eligible for 2nd loan if they have:

  • Less than 300 employees
  • Loss of 20% in quarterly revenue compared to same quarter in 2019
  • 2nd loan equal to 2.5 times your monthly payroll costs of up to $2million; restaurants 3.5 times your monthly payroll costs
  • Forgivable if 60% of loan used for payroll
  • Aggregate loan amounts limited to $10mm


Your PPP Funding...

 ...application will be processed by SmartBiz.   SmartBiz isn’t an actual lender.  Instead, SmartBiz has a working relationship with different banks that participate in  SBA lending.   The big advantage here is that SmartBiz knows which lenders will most likely approve a loan for the situation you’re in.

Another advantage is that SmartBiz has increased their personnel just to handle these new loans.   There will be a mad rush as there was during the 1st round.    We expect the same this time, especially since the monies can be used for more reasons.

Disadvantages would be ...

 ... this is not your full service bank.   You'll have to be comfortable submitting your information online to entities you're not familiar.  SmartBiz has an A+ rating with BBB & 4.6 rating with Trustpilot.   

And you will find this process is fully automated on a secure website.

So, if you’ve attempted a PPP Forgiveness Loan in the past, and turned down, consider SmartBiz for time & efficiency.  Any questions you or they may have, then they are staffed up to work with you.


Here is your link to SBA PPP Forgiveness Loan

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