LiftFund has partnered with Lendio to bring you
Paycheck Protection Program (PPP)
We know its been a challenging year, but business owners can access the new stimulus package with confidence and a sigh of relief in this uncertain time.
With the launch of the new Paycheck Protection Program, we’re providing first-class service and immediate access to the PPP program in partnership with Lendio.
LiftFund and Lendio are trusted resources in micro and small business financing and bring community lending and online lending together for you to be successful in accessing PPP.
Who can Apply?
What can PPP funds be used for?
The Paycheck Protection Program (PPP) now allows certain eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP Loan with the same general loan terms as their First Draw PPP Loan. Second Draw PPP Loans can be used to help fund payroll costs, including benefits. Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.
About the PPP Product:
About the Application Process
What is different about the new PPP program?
At least 60% of the proceeds are spent on payroll costs.
Two types of PPP products:
What documents do I need to proceed in receiving a PPP loan?
First Draw Loan Required Document List:
Second Draw Loan Required Document List:
Please visit here to learn more on the SBA PPP website as programming may evolve during the program. Click here.
Congress passed the new COVID relief bill last night and it will be signed into law soon.
$284 billion has been included to fund another round of PPP Loans 2021.
We assisted thousands of clients this year and we’re now accepting Pre-Registrations for the next round
Here’s what we know about this next round of PPP:
Why Pre-Register for the PPP Loan?
PPP Loan Terms:
We’ll be providing further updates as we have them in the next couple of weeks including the launch of the new PPP round.
$284 billion is allocated for this next round. By our estimates, that should cover less than 20% of all small businesses — This is a “first come, first serve” process and we’re advising all of our clients to submit their pre-registration as quickly as possible.