Funds available to non-CDFI lenders under the Payroll Protection Program have been depleted and as such, banks are no longer accepting new or revised applications.
Community Bank Service with Big Bank Automationtm
Community Banks used ApplyforPPP.com to accept over $500,000,000 in PPP 1 Loans. Thousands of forgiveness applications were automated through our online portal and we’ve now made it easy for you to apply and secure your place in line for the next round of PPP.
Here's what you need to be eligible for a PPP loan in the new round:
Demonstrate at least a 25% reduction in gross receipts (to be defined by SBA) in any quarter of 2020 relative to the same quarter in 2019.
Employ fewer than a 300 employees per physical location.
Demonstrate that you have used or will use the full amount of your first PPP loan.
A business that was not in operation on February 15, 2020 shall not be eligible for an initial PPP loan and a second draw PPP loan.
What else has changed?
Borrowers in industries assigned to NAICS Code 72 are entitled to receive loans up to 3.5x their average monthly payroll costs, during the year prior to the loan or the previous calendar.
Expenses allowable and forgivable are expanded to include certain payments for software, cloud computing expenses, property damage, supplier costs, and worker protection.
Forgiveness has gotten much easier: a simplified one-page application process for loans under $150,000.
The Paycheck Protection Program Loan Process
Fill Out Online Application
Upload Required Documentation
Lender Verifies Information
The SBA Accepts Your Application
Get Funds in Your Account
From 8 to 24 Weeks
Loan Forgiveness Eligibility Verified
Frequently Asked Questions
- Payroll costs, including compensation, employee benefits, and employer-paid taxes
- Rent or lease payments
- Mortgage interest payments
- Personal protective equipment (PPE) and facilities updates to operate safely during the COVID-19 pandemic
- Software or cloud computing costs for business operations
- Costs related to property damage and vandalism or looting due to public disturbances not covered by insurance or other compensation
- Costs of the supply of goods that are essential to business operations
- Covered worker protection expenditures that help adapt business activities to COVID safety requirements
Post as a chart, or just bullets, whatever is easier:
- 2019 Tax Return and Employment Tax Form
- S Corporation: Form 1120S and Form 941 (4 quarters)
- C Corporation: Form 1120 and Form 941 (4 quarters)
- LLC / Partnership: Form 1065 and Form 941 (4 quarters)
- Sole Proprietor or Independent Contractor: Form 1050 Schedule C
- Non-profit: Form 990 and Form 941 (4 quarters) or 944
- Voided Check
- Driver's License or Other Form of Identification
Bank Level Security
Working with lenders for a decade has allowed us to build the processes, policies, and secure technical architecture that is required to keep your borrower's data safe.
Our portal provides features to help our clients comply with data security laws as well as ADA compliance laws.
We Created it Because You’re Part of Our Mission
ApplyforPPP.com was created by Reliant Business Valuation, a tech-enabled business valuation and equipment appraisal firm founded in 2010 that serves over 150 SBA lenders around the nation. We know small business and we know SBA.
We know small business and we know SBA. In late March 2020, due to COVID, we pivoted our technology and created a digital platform to automate PPP applications for our SBA bank clients in the pursuit of our core mission: to build a premier company to guide entrepreneurs who drive our economy.
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