ROUND 2 OF DISASTER FUNDS ARE AVAILABLE
Some of you have applied and received funds, others have applied and in line and some of you got shut out of the $349 billion allocated through then CARES Act.
Congress has allocated new funding for PPP and EIDL through the CARES Act. Recently a second round of funding was approved for approximately $400 Billion.
At Seal Beach Capital we know what it is like to run a business and deal with the daily challenges. Lets all hope the current situation we are all living through fades fast. We are here to assist in your time of need.
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If you missed out on the funding of round 1 PLEASE DON'T miss out on ROUND 2!
We are suggesting you get in line and stay in line so you can get this round of Federal funds.
The CARES ACT has two relief programs to help Small Businesses survive this pandemic.
Paycheck Protection Program (PPP)
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100% federally guaranteed loans will be made available to businesses of fewer than 500 employees (higher for certain industries) and who maintain their payroll during this emergency to cover payroll costs, continuation of group health care benefits, employee salaries, commissions, mortgage payments, rent, utilities and interest on any other debt obligations for the period February 15, 2020, through December 31, 2020
Key highlights:
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Loan for up to 250% of monthly payroll, not to exceed $2 million
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Up to 24 weeks of payroll covered
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Forgiveness of these loans is available, if conditions met
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Loans are capped at 1% interest 5 year term. Payments deferred for 6 months
Economic Injury Disaster Loans (EIDL
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The Small Business Administration (SBA) has issued disaster declarations for every state, allowing small businesses nationwide to access additional emergency funding under its existing EIDL program with more lenient requirements. This program provides loans to cover costs that would have been payable by the applicant had the disaster not occurred.
Key highlights:
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Emergency advance of up to $10,000 within 3 days of applying for an EIDL Loans up to $10 million
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1% fixed interest rate
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Repayment over 30 years with principal and interest deferment for up to four years
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Elimination of personal guarantees for loans under $200K, and requirement that business is in operation for one year
You can apply on your own through SBA or you can click the button below.
If you wish to apply for the Payroll Protection Program PPP we have a fantastic and super easy solution for you!
They are fast and efficient and have relationships with multiple PPP Banks.
If your business has been impacted by the COVID-19 pandemic, you've got options.
Business owners, sole proprietors, and independent contractors can apply for low-interest loans with the potential to be 100% forgiven.
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1% fixed interest rate for the life of the loan
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5-year repayment term
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Payment deferrals for 6 months
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100% forgiveness if you use at least 75% of the loan to cover payroll costs
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Ability to use the money for payroll, mortgage interest, employee benefits, utilities, rent, and other business debt obligation
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call us for immediate assistance
714-598-0083
