In collaboration with FinTech platform Blueacorn, CPF has developed an easy-to-use application wizard that automatically completes and submits all necessary documentation directly to the lender. To ensure increased access to PPP funds for minority, underserved, veteran, and women-owned business concerns, the SBA is accepting applications only from community financial institutions for at least the first two (2) days following the reopening of the loan portal on January 11, 2021. For most borrowers, the maximum loan amount of a second draw loan is 2.5x average monthly 2019 or 2020 payroll costs up to $2 million. Separately, the SBA has set aside $15 billion and $25 billion, respectively, for first and second draw PPP loans for borrowers with a maximum of 10 employees or for loans less than $250,000 to borrowers in low-or-moderate income neighborhoods.Įligibility for a second draw loan requires borrowers to have exhausted the remainder of their first draw loans, have no more than 300 employees, and demonstrate at least a 25% reduction in gross receipts between comparable quarters in 20. In the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act, Congress set aside $15 billion across first and second draw PPP loans for lending by community financial institutions like CPF.
PPP LOAN BLUE ACORN PHONE NUMBER PLUS
11, 2021 /PRNewswire/ - Crossroads Systems, Inc. (OTCQB: CRSS) (“Crossroads” or the “Company”), a holding company focused on investing in businesses that promote economic vitality and community development, through its wholly owned subsidiary Capital Plus Financial (“CPF”), today announced that it is continuing to address potential barriers to accessing capital for minority and underserved communities by partnering with Blueacorn to provide a simple and efficient platform for small businesses across the country to apply for first and second draw Paycheck Protection Program (“PPP”) loans via the Small Business Administration (“SBA”).
0 kommentar(er)
