Working with the SBA on this I can tell you: You Probably Heard About The Paycheck Protection Program in The News Media Lately...

There are over 2 trillion dollars in government relief funds available, with more to come, to help American businesses through the coronavirus crisis and beyond.

The bill has yet to pass but businesses will be able to borrow from $200k to 10 million with rates ranging from 0% to 3% for up to 30-year terms. Businesses may never get money any cheaper.

Fact: Most businesses will end up at the back of the line if all they do is go to the government website and fill out a form. SBA loans require packaging by a processor that knows how to put these loans together and get them funded. Businesses that apply online will have to wait until
they are contacted by the SBA and who knows how long that will take considering the backlog of applications. Then, your loan will need to be processed, which puts you at the back of the line.

I can connect you directly to a SBA lender that will handle processing through underwriting and expedite funding. The SBA is looking to disperse funds after initial underwriting within or under 10 days.

Hope it helps: Quick Application Form


Hi ,

Great post. I would just like to add that the SBA and the employment protection loans do nothing for small Mom and Pop shops.

For instance a small store in NYC in a decent area is $6,000 + for a tiny store on the low side. Now...my wife and I own one with 3 employees. We applied for $60,000 and received $6,100.

How it works is the employees get 75% of the loan and are getting paid more than what they were and 25% is for our business expenses which far exceeds our payroll. Retail rent is more times than not more than the loan and our payroll is less than the expenses leaving us going on 2 months behind on rent. This will leave ALL small businesses like ours to close there doors and when the ban is lifted not only will we be out of business but our employees will have no job to come back too at This plan is horrendous for the TRUE small business owners. In New York and other states. In New York the new law in place is you cannot be evicted for 90 days. What will that do except have a huge rent bill to either pay or be evicted. We also have a fantasic online store as most do but it doesnt pay the bills.

So what exactly does this do for most businesses? Nothing at all except leave owners broke and there will be an even higher unemployment when things are so called back to normal which may be never.

On top of that, after the 90 days are up and evictions can take place there will be no small businesses left. It puzzles me how this was never thought of.

Meanwhile instead of structuring the loans in a sane and fair way, taking into consideration that the operating expenses for hundreds of thousands of businesses exceed the payroll for true small business like ourselves. So many will be forced to close, leaving NYC and the boroughs and counties with a glut of closed stores which will be left vacant.

The next part of these useless loans which money has run out of by handing it over to large companies will be as useless as the first destroying the economy.
I could go on but will leave it as is for today.

If anyone feels the same way I would like to hear your stories. Misery loves company
and we really have to be heard by the government. Why has no one brought up this elementary school math of what the consequences will be?
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