Interest Rate1% fixed interest rate over the life of the loan
Deferred PaymentAll loan payments are deferred for 6 months
Loan ForgivenessForgiveness on the loan portion used for payroll, rent, utilites and interest on debts.
How It Works
- The loan is attvailable based upon a calculation of 2.5 times the amount of your average monthly payroll costs for the last 12 months.
- For employees on the payroll, SBA provides loan forgiveness on the portion of the loans used for payroll, rent, utilities, and interest on debts for up to 8 weeks after it is issued and up to 100% of the loan.
- Any not-forgiven loan amount will be considered as a two-year loan and charge at a 1% fixed rate APR
- All loan payments including the principal, interest, and fees are deferred for 6 months; though, interest will persist to accrue over this period.
Coronavirus relief is here.
Don’t let COVID-19 keep your business out.
Merchant Advisors can connect you to an SBA Paycheck Protection Program loan.
How to Apply for PPP Loans
- Submit your Application
Submit your loan application and we will quickly review information about you and your business, including payroll filings and documentation required for eligibility.
- Calculate Loan Amount You Eligible For
After review, we’ll calculate the loan amount your business is eligible for and can access.
- Get Funding When Approved
After you get approved for a PPP loan, the loan will be securely deposited into your bank account.
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