Apply for a PPP loan through GConnectPro to match with a PPP lender quickly. GConnectPro is not a lender, but we will make consistent efforts on behalf of your business to help you get approved for a PPP loan. At GConnectPro, we will assist you with the application process throughout the program, till the funds allocated for the program have been exhausted.
1% fixed APR for the loan’s life
Payments deferred for 10 months
On all qualified business expenses
This time the SBA has reduced the eligibility requirements for PPP loans. As a result, some business types that were excluded from previous rounds of PPP funding are now eligible to receive funding. These include:
Also, there’s a provision that might provide some more relief for struggling restaurants. According to the provision, if you’re an accommodation or food service business that falls under a NAICS starting with “72” and you have 500 or fewer employees per physical location, then each location can individually apply for a PPP loan.
If the funds from the initial PPP loan weren’t enough to help you overcome the hardship caused by the COVID-19 pandemic, you may be able to get a Second Draw.
The following is the criteria you need to meet to qualify for a Second Draw:
Owners of a restaurant, hotel, or live venue, that falls under a NAICS code starting with “72,” can apply for up to 3.5 times their monthly payroll costs for the Second Draw.
You can receive a maximum amount of $2 million for a Second Draw. Moreover, the aggregate total amount any borrower can receive from the First Draw and Second Draw PPP loan combined is $10 million. The aggregate total amount that businesses within a corporate group can receive is $20 million.
To qualify for a PPP loan round 2, your business needs to meet the following criteria:
And, you must also certify that:
We can help you secure the funding that your business needs!