Paycheck Protection Program (PPP 2.0)
Congress has approved a $300B New Round of PPP funding. With this great news, Select Capital Solutions has partnered with a hedge fund and private lenders who have funded nearly $10B in PPP loans in previous rounds. With these new partnerships, we will be able to handle the volume and client support needed to serve our clients through these challenging times. If you’re like so many business owners looking for additional stimulus, then you’ll certainly want to apply just as soon as possible, as PPP is offered on a first-come, first-served basis.
To get started with your application process, fill out the basic information to the right, and submit. You will receive an email to set up the application portal that will walk you through the entire process. Through our intuitive self-serve portal, you will be able to track your information, upload needed documents, and follow your application from submittal to funding.
The online portal makes loan applications and forgiveness easy while keeping you informed along the way.
- Updates about your loan status.
- Real support, standing by to help you.
- Highly trained experts review your origination and forgiveness applications.
Forgivable in most cases.
No collateral is required.
No personal guarantee requirement.
-Can be used for:
- Payroll (salary, wages, commissions, or tips)
- Interest on mortgage obligations
- Employee benefits
- Covers sick leave
New Program Info
Loan sizes up to $2M at 1% interest for new and repeat PPP borrowers.
Simplified forgiveness under $150K with appropriate attestation.
-PPP borrowers may be eligible for 2nd loan if they have:
- Less that 300 employees
- Loss of 25% in quarterly revenue compared to same quarter in 2019
- 2nd loan equal to 2.5x monthly payroll costs up to $2M, restaurants and hospitality 3.5x monthly payroll costs
- Forgivable if 60% of loan used for payroll
- Aggregate loan amounts limited to $10M
If you want to learn more about PPP financing, contact the team at Select Capital Solutions today.