Let SmartBiz help you get ready for the new round of the Paycheck Protection Program (PPP) just approved by Congress and the President*. While the SBA prepares to accept applications, weâ€™ve put together a Prep List of the documents youâ€™ll need for your PPP loan application.Do you have to pay back a smartbiz loan?
Complete our simple PPP Loan application, and upload required documents to submit them to the bank quickly.* These PPP loans are forgivable for eligible borrowers. This means you donâ€™t have to pay it back if the funds are used as designated under SBA rules.What's the maximum loan amount for a second draw PPP?
For borrowers in the Accommodation and Food Services sector (use NAICS 72 to confirm), the maximum loan amount for a Second Draw PPP loan is 3.5x the average monthly 2019 or 2020 payroll costs up to $2 million.Do you have a better experience with smartbiz?
Applied on 1/24 and status remains as "SmartBiz Review". Anyone have a better experience to report or in the same boat? Yes. I received this morning. Applied 1/12. Approved in 10 days. Request higher loan amount and got that in four days with PLP numbers. E signed day after and received fund today.