Maximize Your Second Draw From The Paycheck Protection Program! The Trusted CFO Solutions Team Is Ready to Help!
Did you miss out on relief funds during the first round of PPP? We have good news! On January 13th, 2021, Congress opened up $285 billion for PPP2 (Paycheck Protection Program) funding making it possible for you to strengthen your business with available financial funding of 2.5x to 3.5x your monthly payroll in a 100% forgivable loan.
PPP2 Program Updates
The SBA is accepting forgivable loan applications until March 31st, or until funds run out (which we don’t expect to happen this time). Below are four updates regarding PPP2 applications that are worth your time to review.
- From January 11th through the 24th, the SBA approved more than 400k loans for a total of $35 billion. The average loan size is $87,000.
- Up to 30% of PPP2 applications that meet requirements are delayed many days, primarily for technical glitches and anomalies.
- The SBA has discovered mismatched data anomalies in about 5% of lender submissions. This mismatch requires a proactive follow-up by the borrowers to move these stuck applications forward.
- The SBA has been more deliberate in their documentation checking than in PPP First Draw. Turnaround time in 2020 was within days. The second draw is taking weeks for businesses to receive funds.
Our Team Is Here To Serve You
The Trusted CFO Solutions team is prepared to serve you. Even if you aren’t sure if you qualify or need financial assistance, our team and trusted funding partner want to help you make the right decision for your business’s future success.
TCFOS is helping companies to emerge stronger from this pandemic.
Watch The Video Below To Hear What One of Our Business Clients Said About Working Together
Trusted CFO has blown us away! Jody Kell, Principal, Intown Renewal Developers
We are taking PPP2 applications. We want to help you just as we helped Jody and numerous other business owners! By acting sooner than later, you step into line and ensure your company receives available funds. There is no commitment to find out if you qualify and how much financial support you need. We offer a secure and user-friendly portal for quick review, approval, and funding.
Don’t miss the opportunity to get financial relief for your business in the PPP2 round. If you are ready to begin the application with assistance through our partner lender, we are here to help you accelerate the process. You can click here to start the process now.
Inquire About Loan Application Assistance
Strengthen your business during the Coronavirus pandemic. Trusted CFO Solutions works with a trusted funding partner, and we can help you streamline the application process and maximize the benefits of your forgivable loan funding.
While various challenges have cropped up with the second round of the Paycheck Protection Progam, the good news is that funds will likely NOT run out, giving business leaders the margin to process and receives funds without additional anxiety-inducing pressure.
- If you’d like to begin the process of applying for assistance through our partner lender, click here.
- If you’d like to have Trusted CFO Solutions handle the application process on your behalf, click here.
- Click here to visit our COVID-19 Resource Center and equip your business to emerge stronger from the crisis.
Our team is ready to serve your funding needs. Emerge stronger. We invite you to contact the Trusted CFO Solutions team to set up your complimentary 30-minute discovery call.