In early June 2020, the Small Business Administration’s Paycheck Protection Program (PPP) Flexibility Act was signed into law. The PPP program was created to provide much-needed relief to small businesses who want to keep their workers on payroll as the companies work through the economic difficulties caused by COVID-19.
There comes a time when every business needs an infusion of cash. Whether your company is growing and business is booming, or some unexpected challenges have hit and you need an assist, a business loan can be a smart way to keep moving forward.
Loan closing is an exciting step! Your funds will be ready for use, and you can move forward with your plans. After loan closing, here are the next steps to take.
This checklist includes all of the documentation you will need to provide with your loan application so we can verify your financial information. We understand this is a lot to gather. Please take your time, and only submit your package once you have all documents. The faster you provide all documentation, the faster we can move forward.
Once we receive your complete package, we will provide an indication of the interest rate you can expect to receive. Your package will be submitted to the Loan Committee for review within 1-10 days.