Get a Paycheck Protection Program Loan
Ivy Lender can assist with helping you access Paycheck Protection Program loan faster than your bank! Your electronic application goes straight into underwriting - allowing you to access funds fast.
What Is the Paycheck Protection Program?
The Paycheck Protection Program provides federally-guaranteed loans to eligible small businesses. Loans can be up to $10 million and may be partially forgivable. These loans are intended to help small businesses retain employees throughout and after the Coronavirus (COVID-19) crisis.
As dictated by the CARES Act, the SBA has committed to helping small business owners across America borrow $349 billion. The Paycheck Protection Program covers operational expenses beginning February 15, 2020 and ending on June 30, 2020.
Is Your Small Business Eligible for the Program?
The CARES Act has expanded the eligibility criteria for borrowers to qualify for a Paycheck Protection Program loan. Any qualified small business, nonprofit organization, veterans organization, or tribal business is eligible to review a loan if the business employs 500 or less people.
How Can You Use Your Paycheck Protection Program Loan?
Payroll costs and employee commissions or similar compensations
Insurance premiums and group healthcare benefits during paid sick, family, or medical leave
Mortgage interest payments (but not prepayment or payment of mortgage principal)
Commercial space rent and utilities
Interest on any other debt obligations incurred before the covered period
IMPORTANT NOTE: SBA program details are subject to change. Eligibility rules and amount are both subject to change. Ivy Lender is a financial technology company, not affiliated with the SBA, Dept. of the Treasury, or any government agency.
This site is for informational purposes only. It is not intended to constitute professional advice, including legal, financial, or tax advice, nor is Ivy Lender providing advice on any particular situation. Not a loan offer or a commitment to lend.