Whether you’ve already been through the PPP application process or you’re searching for funding for the first time, this post is for you. We’re going to cover the most frequently asked questions surrounding the second round of PPP funding. We’ll cover topics such as the requirements you must meet to receive a loan, how funds can be used, and whether you can receive another PPP loan if you already received one (spoiler alert: you can!)
Business Loans Blog Posts | Page 2
The new stimulus package includes special PPP loan rules for restaurants. Learn what you could get from the PPP if you own a restaurant.
With Round 2 of the Paycheck Protection Program (PPP) ready to kick-off the second week of January for community-based lenders, businesses may be wondering where they should go to apply for a first or second draw PPP loan. For many businesses, the most natural place to apply will be their bank. Read on for a list of the top banks with which to apply for a second round PPP loan.
COVID Relief: You Could Get Partial Forgiveness, Increased SBA Guarantee, & More On 7(a) Loans & Microloans
In order to get the full eight months’ worth of forgiveness of principal and interest payments for these loans, your business will need to be in one of the industries identified by the SBA as particularly impacted by the coronavirus pandemic, such as food service, accommodation, education, arts & entertainment, and personal care services.
To help shuttered live event venues stay in business long enough to return once the pandemic is over, Congress has approved a new grant program specifically targeted at businesses that host entertainment, both live and recorded.
PPP Loans & Credit Scores: Is A Credit Check Required To Get A PPP Loan? What To Expect When You Apply
As far as formal requirements go, there is no credit score requirement you must meet in order to qualify for a PPP loan. This is despite the fact that the PPP program technically falls under the SBA’s 7(a) loan program, which does feature an acceptable credit requirement. However, this formal requirement has been suspended when it comes to Paycheck Protection Program loans.
Guidance for the new and improved program was released January 6, 2021, with the program expected to be online by January 21. With thousands of small businesses under unprecedented stress, you can expect demand for these programs will be extremely high.
Wondering about EIDL grants for round two? Read on for everything we know so far about what to expect for EIDL grants and advances in 2021.
A second round of PPP funding has been approved by Congress for 2021. Want to apply for a PPP loan online? Here are the best online lenders participating in the second round of PPP loans.
The second round of PPP grants $284 billion to business owners in the form of forgivable loans. As government mandates continue to keep some businesses shuttered or under strict regulations, a PPP loan could be just what you need to keep your business on track in 2021, regardless of whether or not you participated in the first round.