Newtek Business Finance Solutions is accepting 1st and 2nd round applications for PPP loans.
I’ve gathered some information about PPP loans that may be useful to you and your clients.
- Your business owner clients can apply for an initial draw of PPP financing.
- Existing PPP borrowers may apply for a 2nd PPP loan.
- Loans can be used for payroll and overhead.
- Funds are available to businesses with under 300 employees, with loans calculated at 2.5 times average monthly payroll, 3.5 for select industries – maximum loan amount is $2 million.
- Businesses must demonstrate at least a 25 percent reduction in gross receipts in any quarter of 2020, including the fourth, relative to the same 2019 quarter.
Any referrals can be submitted by logging in to NewTraker: https://www.newtekreferrals.com/login
If you do not have access to NewTracker, you can request a login by emailing: RM@newtekone.com.
Regards,
David
Contact:
David Karcher
Senior Vice President ISO Relationships
Direct: (212) 273-8194 or Ext. 13712
DKarcher@NewtekOne.com |
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