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This step-by-step guide will walk you through our PPP application to ensure you have a completed application—so that it can be submitted, approved, and funded as fast as possible. Begin your PPP loan application through Lendio to be matched with a PPP lender.
- What Is A PPP Loan?
- PPP Loan Background
- PPP Loan Forgiveness
- PPP Loans Approved by State
The Paycheck Protection Program (PPP) was created by the U.S. Small Business Association (SBA) during the COVID-19 pandemic to help small businesses and nonprofits in the U.S. via potentially forgivable, government-backed loans. Originally part of the CARES Act in March 2020, the PPP was authorized to distribute over $600 billion in loans to small ...
The intent of the PPP was to help U.S. small businesses remain operational through COVID-19-related business interruptions while also keeping their employees working and employed. As one of the conditions for loan forgiveness, businesses were required to spend at least 60% of the PPP loan amount on payroll. PPP loans were available during two appli...
While PPP loans offered the potential for loan forgiveness, small businesses seeking loan forgiveness needed to meet and document all eligibility requirements. Businesses seeking PPP loan forgiveness were required to apply no later than 10 months following the last day of their covered period. Get details about applying for PPP loan forgiveness
Since 2020, the federal government has approved nearly $800 billion in funding for companies in all 50 states, plus Puerto Rico, the Virgin Islands, American Samoa, Guam, and the Northern Mariana Islands territories. With over 1.2 million loans, California had the most loans approved for the PPP, followed by Florida, Texas, New York, and Illinois. ...
Apr 6, 2021 · If you’re considering applying for a PPP loan, we strongly encourage you to do so sooner rather than later. There is no guarantee that funds will remain available through May 31, 2021, or that there will be another round of PPP loans. Apply for your PPP loan now through Lendio’s online application.
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People also ask
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Apr 13, 2020 · If you’re looking for the fastest, safest, and most reliable method for applying and receiving a Paycheck Protection Program (PPP) loan, then consider using an online lending marketplace like Lendio. Not only can you apply for a PPP loan in 15 minutes, but you’ll gain access to dedicated experts, multiple lenders, and a safety net of ...
Dec 29, 2020 · Follow. Lehi, Utah, Dec. 29, 2020 (GLOBE NEWSWIRE) -- Lendio, the nation’s leading small business loan marketplace, today announced it has relaunched its streamlined online application for...
Jun 5, 2023 · As follows are the types of SBA loans you can apply for through Lendio: SBA 7 (a) Loans: One of the most flexible SBA loan types, Standard SBA 7 (a) loans include Standard loans up to $5 million, and Small Loans up to $350,000. SBA Express Loans: Express loans are faster SBA 7 (a) loans that can be funded in as little as 30 days.