PPP Loan Update:
The fact that FinTech and non-bank lenders have been approved to participate in the distribution of PPP loans will make a world of difference when more funds are appropriated. Small businesses would have benefited more had these lenders been approved earlier in the process.
Partnering with a FinTech platform, enables automation of tens of thousands of small businesses to submit PPP applications within minutes.
Until now, many Yeshivahs & Not-for-Profits were told that they’re not eligible for this loan – which is simply not the case! Most entities with a payroll of up-to 500 employees – can apply for this loan.
While the first batch of funding quickly ran out, Congress is expected to pass an additional $320 Billion in funding this week. As the Paycheck Protection Program is based on a first come first serve basis, it is important you apply as soon as possible to secure funding.
It’s Fast, Simple, and Easy!
Documents you will need to upload include: W-3 (employee 1099 if applicable), 941, Drivers License, Corporate Formation Document – Filing Receipt, so please have these handy.
Keep the FWD chain going and help your friend’s business pay its employees.