SBA Paycheck Protection Program (PPP) Loans
Get Covid-19 relief for your business through forgivable government-guaranteed loans
Start your request through Liquidus Funding, so you can get matched with participating PPP lenders within our network today
SBA funds are limited. Deadline to apply is May 31, 2021
Loans up to
$2 million for Second Draw borrowers
Low Interest Rate
1.0% Fixed APR for the life of the loan
Payment Deferral
No payments for 10 months
Loan Forgiveness
On eligible expenses such as payroll, mortgage interest, rent, utilities, and other expanded uses.
Get fast Covid-19 relief for you business with a government-backed loan
Second Draws
Small businesses that received a first-round PPP loan may be eligible for a Second Draw.
Easy to Apply
Apply online with some basic information to see if you qualify within minutes.
Get the funds you need
Eligible for up to 2.5x your average monthy payroll costs. Certain industries such as restaurants, hotels, or live venues may be eligible to receive up to 3.5x their average monthly payroll costs.
Potentially 100% forgiveable
Full loan forgiveness on qualified uses such as payroll, mortgage interest, rent, utilities, and other expanded uses.
Expanded uses of PPP loan proceeds
The new stimulus package now permits first time and second time borrowers with expanded uses on loan proceeds, which include software and cloud computing, property damage from public disturbances, critical supplier costs, and worker protection expenses.
Simplified Loan Forgiveness
The new PPP legislation includes a simplified forgiveness process for loans under $150,000
Got Questions? Visit our FAQs
About the program
The U.S. Government Small Business Administration has committed an additional $284.5 Billion to the Paycheck Protection Program (PPP) through the latest stimulus package. This program is specifically designed and backed by the federal government to provide potentially 100% forgivable loans in order to aid eligible small businesses during the Coronavirus pandemic. The latest stimulus package makes funds available for first time borrowers, second draws, and simplifies loan forgiveness.
Initial Draw
Most small businesses that have been impacted by Covid-19 with 500 or fewer employees and were in operation on Febraury 15, 2020 are eligible. This includes sole proprietors, independent contractors, eligible self-employed individuals, and non-profit organizations.
Second Draw
Some businesses can qualify for a second PPP loan, provided they meet certain requirements such as:
- Showing at least a 25% reduction in gross receipts over a certain period (2020 when compared to 2019 annually or when comparing one quarter in 2020 to the same quarter in 2019)
- Have 300 or fewer employees*
- Has used or will use the full amount of their first PPP Loan
*Businesses in the Food and Accommodation (Starting with NAICS code 72) may qualify if they have over 300 employees)
Rain or Shine,We Support Small Businesses
$10B+
Funds delivered by lenders within our network.
50+
Leading Lenders in our network.
7+
Different Loan Options available when applying through us.
What you need to apply
First Draw
- Details of all owners with greater than 20% ownership in the business
- Details of full-time employees and their associated payroll costs
- Proof of mortgage interest, rent payments, and utility bills
Small businesses with employees
- 941 forms (quarterly filings), 940 or 944 form (annual filing), 1120 form, 1065 form, 1120-S form, or payroll processing reports with a corresponding letter from your payroll provider
Sole proprietors, self-employed individuals, and independent contractors without employees
- 1040 – Schedule C
Second Draw
- For loan requests over $150,000, you must demonstrate a 25% reduction in 2020 revenue when compared to the same period in 2019 when applying
- Details of all owners with greater than 20% ownership in the business
- Proof of mortgage interest, rent payments, and utility bills
Small businesses with employees
- 941 forms (quarterly filings), 940 or 944 form (annual filing), 1120 form, 1065 form, 1120-S form, or payroll processing reports with a corresponding letter from your payroll provide
Sole proprietors, self-employed individuals, and independent contractors without employees
- 1040 – Schedule C
Paycheck Protection Program Loans
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Frequently asked questions
Are there any fees to apply?
No, there are no fees charged by us or by any participating PPP lender in our network.
Can I apply through more than one lender for my PPP Loan?
Yes! The SBA will issue only one PLP (Preferred Lender Program) number, which is assigned to the lender upon approval of your loan application and uniquely tied to your business. In other words, there is no risk or cost to you for applying with more than one lender. This is why we have multiple SBA-approved lenders within our network that process PPP loan applications, so you can increase your odds of having your application processed quickly.
Can you get a PPP loan if you have other loans?
Yes, you can still apply for a PPP Loan even if you already have other loans, including other SBA Loans. However, you cannot use the funds from PPP loans and Economic InjuryDisaster Loans (EIDL) for the same purpose at the same time. For example, if you used an economic injury disaster loan or advance to pay your business’s rent, you cannot also apply for a PPP Loan to cover that same expense for that same period.
Can you apply for both a PPP Loan and other SBA 7(a) loans at the same time?
Yes, nothing prevents you from applying for more than one type of SBA 7(a) loan as long as the total amounts borrowed is less than $10 million for any SBA guaranteed loans within a 90 day period. In addition, the SBA is now guaranteeing 90% as opposed to 75% of 7(a) loans in order to make lenders more willing to offer them to small businesses. Despite the increased guarantee, it is important to keep in mind though that unlike PPP Loans, other SBA 7(a) loans will still consider more stringent criteria like having a good credit score to qualify.
Am I eligible for the latest PPP round of funding, and how does this PPP Loan differ from the previous version?
If you’re a first time PPP applicant (initial draw), then eligibility is similar to the program’s inception in the Cares Act The similarities include being a U.S. small business that employs fewer than 500 employees and being in operation as of February 15, 2020. One difference is that more types of businesses are now eligible to apply:
• Tribal businesses
• Housing cooperatives with no more than 300 employees
• Certain news or broadcasting stations
• Destination marketing organizations that generally don’t engage in lobbying and have fewer than 300 employees
If you’re a Second time PPP applicant (second draw), you must meet the following additional criteriaand note that additional conditions may apply:
• Demonstrate a 25% Loss in revenue over a certain period
• Have fewer than 300 employees
• Have used your entire first-round PPP Loan
The following businesses are no longer eligible for a PPP Loan:
• Publicly-traded companies
• Businesses that receive an SBA grant under the newly established “live venue” program.
• Businesses that were not in operation as of February 15, 2020
• The President, Vice President, heads of executive departments, and Members of Congress or their spouses.
*Businesses in the Food and Accommodation (Starting with NAICS code 72) may qualify if they have over 300 employees)
If I received my first PPP Loan through another lender, can I apply for a second draw through Liquidus Funding?
Yes, there are currently no restrictions that would require you to go through the first-round lender for a second draw.
How long will it take to receive funds?
Once a borrower receives a Preferred Lender Program (PLP) number for their loan, the lender has 10 calendar days to disburse the funds. If a lender cannot disburse the funds due to delays from the borrower arising out of things like missing paperwork, then the lender has 20 days to disburse the funds. If the lender did not receive the necessary information from the borrower after the 20 day period, then the loan may be canceled.
Do you have to prove economic injury?
You will have to certify that your business has sustained economic injury due to the Coronavirus pandemic. For second draw applicants, you will also have to show that your grossly receipts decreased by 25% or more for a certain period.