Funds are provided in the form of loans that will be fully forgiven when used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.
Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.
Small businesses with 500 or fewer employees—including nonprofits, veterans’ organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors — are eligible. Businesses with more than 500 employees are eligible in certain industries.
Starting April 3, 2020, small businesses and sole proprietorships can apply. Starting April 10, 2020, independent contractors and self-employed individuals can apply. The Small Business Association (SBA) encourages you to apply as quickly as you can because there is a funding cap.
Paycheck Protection is a government loan that we can offer to the small business community throughout the USA.
Use this Business Loan Intake Form for fast funding!
Whether you do $100,000 or $10Mil+ in sales, we got you covered!
You don’t need perfect credit to qualify for a Hybridge™ SBA Loan — just a credit score of 685+
We offer business credit lines to all companies that have been in business for over 3 months.
Whether you do $120,000 or $12,000,000 in sales, we got your back!
You don’t need to have amazing credit to qualify for a business line of credit—we work with ALL credit profiles.