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Article provided by: Quick Lending Solutions
Quick Lending Solutions provides monthly cash flow funding for small businesses in the United States. If your business has been adversely impacted by the COVID-19 worldwide lockdown, then cash flow financing is available to you. Quick Lending Solutions is a private loan company that is certified through the SBA, and we have the best cash flow loans with flexible rates and terms. The CARES Act provides a number of lending programs for entrepreneurs and small business owners alike to give them the cash flow financing they need to survive. Let us help you get the cash flow your business needs to survive this economic crisis.
If you would like to learn more about us, the CARES Act, or if you would like to learn more about our lending solutions, please contact us directly by phone at 888-930-8815, or you can start the loan application right now. In the meantime, please consider our monthly cash flow funding options and think about which program might be right for you.
Paycheck Protection Program (PPP)
The Paycheck Protection Program (PPP) has $350 billion allocated to help small businesses amid the pandemic and economic disaster that has ensued. The PPP comes with a fairly broad range of qualifying guidelines, which means that most small business owners will be eligible to receive benefits under the PPP. The PPP is intended to provide long-term capital that will help you keep your employees. Here's what you need to know about the PPP:
PPP Loans are Unsecured Loans
PPP loans are unsecured and are backed by the federal government, which makes our lending options more flexible.
PPP Loans Cover Specific Business-Related Expenses
Quick Lending Solution's PPP loans cover mortgages, rent, leases, utilities, and of course, employee payroll expenses.
PPP Loans are Only Obtainable Through Certified SBA Lenders
Only banks and private lending institutions, such as Quick Lending Solutions, are able to loan PPP funds.
Disaster Assistance Loan Program
It is important to differentiate between the PPP and the Disaster Assistance Loan Program. Unlike the PPP, the Disaster Assistance Loan Program requires that borrowers provide personal guarantees and collateral on loans. In other words, the Disaster Assistance Loan Program is a secured loan that may require collateral.
Is Your Company Eligible?
To receive the best cash flow loans for COVID-19 small business impact, your company must employ fewer than 500 employees. 501 (c)3 non-profits are also eligible but must employ fewer than 500 employees, and restaurants or hotels can have more than 500 employees as long as they do not have 500+ employees in a single location.
Are Monthly Cash Flow Funding Loans Forgiven?
If you receive a PPP loan, the amount of the loan that is forgiven will depend on your federal income taxes. Also, what you spend the money on will determine which portion of the loan is forgiven. The PPP program is designed to help employers to retain their staff. If you spend money on inventory, for example, then that part of the loan would not be forgiven.
Monthly Cash Flow Funding
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