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Login With Email or Phone Number. Need help? Contact Support. Interest rates for the Paycheck Protection Program ("PPP') are at 1%. PPP loans are made by one or more approved U.S. Small Business Administration ("SBA”) lenders. Loan agreements will identify the appropriate lender to small businesses at signing.
PPP borrowers are eligible for up to 2.5x monthly payroll costs for their initial PPP loan, as well as any second draw. If your business falls under NAICS code 72 (Accommodation and Food Services), you may qualify for up to 3.5x monthly payroll costs for a second draw.
Eligibility. The PPP allows small businesses and independent workers to apply for low-interest private loans to help pay for their payroll and other costs. As well as businesses, individuals like your contractors and commission-based workers, are eligible for PPP funds. Anyone who receives a 1099 and/or files a Schedule C is likely eligible.
Feb 15, 2020 · In order to have your PPP loan fully forgiven, you must have spent PPP funds on the following expenses DURING the covered period that you choose, between 8 and 24 weeks from the day you received PPP funds: At least 60% of loan proceeds must have been spent on payroll incurred, not necessarily paid, during the covered period you choose ...
Blue acorn helps self-employed and 1099s qualify for a Forgivable PPP loan from the SBA. We've helped 100,000+ customers, and have 100s of 5 star reviews.
Your lender, Prestamos CDFI, will be administering your loan forgiveness directly through the Small Business Administration (SBA). This means you will need to apply for loan forgiveness via the SBA, which you can access at directforgiveness.sba.gov. If you have additional questions you can contact Prestamos at [email protected].
About Us. Blueacorn connects technology and financial expertise to help small businesses, independent contractors, self-employed individuals, and gig workers with their financial needs. During the COVID-19 pandemic, Blueacorn was created with the singular purpose of democratizing the Small Business Administration’s (SBA) Payment Protection ...
