Payroll Protection Loan2020-04-01T18:00:04+00:00

Payroll Protection Loan (PPP)

Through the CARES Act, $350B has been allocated to small businesses to assist them in meeting payroll, rent and utilities through June 30, 2020.The loan amount is determined by multiplying average monthly payroll by 2.5. There are adjustments that need to be made to arrive at average monthly payroll.

Program Highlights:

  • 100% SBA Guarantee
  • Loan amount is 2.5 X Average monthly payroll, mortgage, rent and utilities expenses
  • Maximum loan amount $10 Million
  • Forgivable if proceeds spent on qualifying expenses
  • Rates: Not to exceed 4%
  • Term: Up to 10-year repayment
  • No Personal Guarantee
  • SBA fees waived
  • Apply through SBA approved lenders

Who can apply?

Applicants include any small business that suffered an economic loss because of COVID-19. The loss can be from the complete shutdown of a business, as well as a slowdown in revenue for those that remain open. Some industry examples include restaurants, retail, hospitality, sports & entertainment venues, shipping & logistics, and auto dealers.

Pre-qualify for loan

Looking for funding? Answer a few questions and a banker will contact you within 1 business day!

    FIRST NAME *
    LAST NAME *
    EMAIL ADDRESS *
    PHONE NUMBER *
    Business Name *
    Business website *

    Business Description *

    Your Time Zone

    Best time to call (check all that apply)
    MorningsAfternoonsEveningsWeekends

    Zip Code *
    Industry

    Years in business *
    Less than 1 year1 - 2 years2 - 5 years5 - 9 years10+ years

    Amount of funding needed *

    Use of funds *
    Purchase Property or Real EstateBuy EquipmentRemodel/ExpandRefinance DebtHire StaffWorking CapitalPurchase InventoryBuy an Existing BusinessMarketing & Advertising

    If business acquisition, purchase of real estate, amount of cash you have available to put into transaction

    Any personal or business bankruptcies within the last 5 years for any owner of 20% or more of the business? *
    yesNo

    Any active lawsuits (including divorce), open judgements or outstanding tax liens? *
    yesNo

    Your credit score

    Please select all that apply *

    Year 2019 Sales
    Monthly Average Payroll
    Monthly Rent/Mortgage
    Monthly Utilities, IT, Mnt. cost

    Current Inventory Amount

    Additional Information

    I have reviewed, understand PGV may refer my information to lending partners