GET A PAYCHECK PROTECTION PROGRAM (PPP) LOAN FORGIVENESS TODAY!
Apply now and you can get up to 100% of your PPP loan forgiven.
How it works
Based on your employee status, payroll and how you used the funds you can get up to 100% of your loan forgiven.
Employees and payroll have been consistent with pre-COVID levels;
After the loan is issued, the SBA will forgive for up to 24 weeks if the portion of the loan was used for any of the following: payroll, mortgage interest, rent or utility payments;
Any amount that can’t be forgiven will be treated as a two-year loan with a fixed interest rate of 1%;
Until you receive a decision on your loan forgiveness application, all payments are deferred. Interest will continue to accrue in this time period, however.
How can you get loan forgiveness?
Read here the latest eligibility guidelines and learn what documents you need to prepare for the type of business you’re running.
PPP Loan Forgiveness Calculation
Want to know how much of your loan can be forgiven?
Read here to find out how the lender will use the responses from your application:
Based on how much you spent on payroll or other eligible expenses in the 24 weeks period, your lender will determine the maximum amount for your loan forgiveness;
In cases where the employees’ wages or the number of employees was reduced, your loan forgiveness amount will be reduced too;
Once your lender has understood how the money was used, the lender can reduce your amount by the percentage you used on ineligible expenses. Only 40% of the PPP loan can be used for other expenses for most businesses, so be careful!