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February 14, 2025

PPP Loan Forgiveness Application, SBA PPP Loan Forgiveness

PPP Loan Forgiveness, SBA PPP Loan, Loan Forgiveness
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SBA PPP Loan Forgiveness Just Got Simpler with Money Man 4 Business

Use our professional team to make your SBA PPP loan forgiveness application process simpler.

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We do all the paperwork just at $499, and you run your business. Any query call us at 888.882.2741 Ext 0 or Make an Inquiry below.

How to Apply for SBA PPP Loan Forgiveness?

To apply for SBA PPP Loan Forgiveness, we need to understand what is a SBA PPP program and how it works and what are the eligibility criteria to Apply for PPP Forgiveness? So just learn few basics of SBA PPP loan program.

Why SBA PPP also called as Grant or What is SBA PPP Forgiveness?

SBA PPP is a forgivable loan program which is meant to keep small business owners and their employee working for 8 weeks period from the time you received the loan. This loan also can be used to pay mortgage interest, rent and utilities bills for 8 weeks from the time you have received the loan. These are the cases where you can use the loan for and have the loan(principal + Interest) forgiven which means you don’t have to pay it back which effectively makes it a grant to you by SBA.

What else you can use the SBA PPP loan?

You can also use this loans for any other categories just like any other business loan but those usage of loans will not be forgiven.

What is SBA PPP (Paycheck Protection Program) loan?

It was a SBA Business loan program passed into law as part of the cares Act which was signed on March 27th 2020. This program has been authorized up to $349 Billion dollars to provide loans to small businesses across the Unites State.

Rates & Terms

There is no guarantee or collateral required for this loan. The loan amount is calculated as two and half times of your average monthly payroll and the maximum loan amount per business is $10 Million Dollars. It has a fixed interest rate of 1% and term is 2 years for the loan amount that has been used in non-forgiven category. It has monthly repayment. To avoid higher interest, you can pay it back before 2 years as well and there is no prepayment penalty for doing that.

Businesses Eligible & Rules for Loan Forgiveness as below:

Use of proceed: Payroll costs, mortgage interest, rent and utilities.

Entity Type: All businesses including non-profit, veterans organisations, tribal concern, self-employed individuals, sole proprietorships and independent contractors with 500 or fewer employees. In some cases, Even if you have more than 500 employees also eligible if they meet industry specific size standard.

Citizenship is not required but must have Tax ID number (EIN/SSN).

All Owner must have 20% minimum ownership need to be on the loan.

No Minimum credit score Required

No Minimum Revenue Required

No Minimum time required although must be in operation in February

How to get your paperwork ready to apply for SBA PPP Forgiveness?

To get a full loan forgiveness or a part of it, you must follow the process with complex rules and calculations. Any small size Error on PPP Forgiveness application or with documents will leave your application on the table.

If you or your Business has received SBA PPP. We are here to help with all the paperwork for the PPP Forgiveness application to get a error free Application with our help of Professional CA. So what are you waiting for ?

Related Programs

Just call us at: 888.882.2741 Ext 0

Or

Make an Inquiry right now.

February 14, 2025

SBA EIDL Loan Increase, EIDL Loan Increase Request and Re-consideration

SBA EIDL Loan, Loan Increase, Reconsideration
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Apply For EIDL Reconsideration or Loan Increase

COVID-19 Economic Injury Disaster Loan

EIDL Loan increase Request / EIDL Re-consideration program

The United States Small business administration is putting more effort into tripling the maximum amount that non-profit organizations and small businesses can borrow under this COVID-19 Economy Injury Disaster (EIDL) Program.

Starting from the first week of April 2021, i.e. from April 6, 2021, onwards, The Small Business Administration (SBA) is increasing the loan limit for the EIDL program from a maximum loan amount of $150,000 to up to a maximum loan amount of $500,000.

Many existing EIDL loans which are approved prior to the week of April 6, 2021 will be eligible for an increase according to the new maximum loan amount announced on March 24, 2021. So if you already have received your EIDL, there are possibilities that your loan amount can be increased.

So here, Money Man 4 Business’s Chief financial officer John Guillory has 29+ years of experience with govt ensured and govt funded loan program. Money Man 4 Business expertise that have helped business owners with over hundreds of thousands of business financial transactions since 2007. So, we are ready to take your application further for a loan increase if SBA EIDL did not offer, approved, or funded your business with enough capital for SBA EIDL loans. We can also help with a reconsideration on your EIDL Loan program from SBA if it is denied. So just call us at 888.882.2741 Ext. 0 today or Hit the Inquiry button below to submit an Inquiry form.

Related Programs

EIDL Loan Increase Application has Expired

Targeted EIDL Advance

The EIDL Program has a grant program, and it is designed to provide the coronavirus impacted business with fast funding of up to $10,000 to meet the immediate business needs. The SBA has started providing this grant money to small businesses right after congress approved fresh funding for the program. In the first round of EIDL grants back in March 2020, the funds were exhausted quickly, and many small businesses received only $1000/employee or nothing at all.

Early this year, back in February 2021, The SBA Announced its new Targeted EIDL advance program in which Small businesses applying for EIDL could get a $10,000 cash grant whether or not they received the EIDL loan approval.

So To learn more on Targeted Advance & if your business qualifies for additional monies coming to you or how to apply for the first time, frequently asked questions, and more information. Request here your Free copy of the U.S. Small Business Administration pdf namedTargeted EIDL Advance published by the SBA on February 1, 2021.

 

We at Money Man 4 Business ready to take it forward towards every possibilities of success of your business in this hard time. As a Small Business we know how hard it can be these days. Not only you but also 3.7 million businesses out there who needs help with their financial needs and confused how to apply for EIDL or EIDL rejected!! What to do? Or Do not know how to apply for $10,000 grants? Or else received only few thousands which is insufficient to run the business. All questions can be answered here at Money Man 4 Business. Just call at 888.882.2741 Ext. 0 today or Hit the Inquiry button below to submit an Inquiry form.

Just call us at: 888.882.2741 Ext 0

Or

Make an Inquiry right now.

February 14, 2025

SBA GRANT FOR EATING & DRINKING ESTABLISHMENTS

SBA Grant, Restaurant Financing, Bar Financing
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While you take care of your business, we will take care of packaging your Grant!

This program has been created to help restaurants and other eligible businesses keep their doors open during these hard times. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023. Business owners can apply since April 3rd 2021 until funds are completely allocated.

Eligible entities who have experienced pandemic-related revenue loss:

  • Any Restaurant related business that was established between January 1st 2019 and March 10th 2021 can Apply.
  • Credit Score (FICO) is not an eligible criteria.
  • Restaurants
    • Food stands, food trucks, food carts
    • Caterers
    • Bars, saloons, lounges, taverns
    • Snack and nonalcoholic beverage bars
    • Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
    • Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
    • Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
    • Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts)
    • Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
    • Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products

(After received we will Calculate Possible Grant Amount)

  • Our online e-Application completed from https://moneyman4business.com/the-new-eapplication/
  • Color Copy of Driver License (Front & Back)
  • Copy of Voided Check
  • 2019 Business Tax Return Including All Pages and All Schedules
  • 2020 Business Tax Return, if not available POS
  • Sales Reports or P&L and Balance Sheet
  • 3 most Recent Business Bank Statements
  • Page 1 of your PPP Contract (If funded for PPP1 or PPP2)

Resolution: Speak directly with Money Man 4 Business, Chief Financial Officer John (JJ) Guillory at 281.763.2294 ext. 0. To determine if your business may qualify for SBA EIDL Loan increase. John Guillory has over 28+ years’ experience working with Government insured &/or funded Loans.

When an applicant applies for SBA Economic Injury Disaster Loan, the economic injury is not substantiated based on the initial application. On the basis of information provided by you on your loan application, it has been determined that your economic injury cannot be substantiated. The decision has been arrived on the basis of the following two reasons.

The economic injury faced by you is less than the amount received from EIDL advance. Based on this, SBA cannot substantiate any additional claim at this point in time.

Because of information provided by you, SBA cannot determine any economic injury to your business.

Many applicants did not seek professional or experienced help completing the application & incorrect figures were used on the initial application.

Resolution: Money Man 4 Business can request your application to be reconsider for up to $150,000 which is the current CAP amount for SBA EIDL loans. If your figures were reported incorrect. Money Man 4 Business will revise any portion of the application that may had been incorrectly report at the initial application.

If you had late payments in the past and might be caused by you are struggling with low cash flow, reduced business revenue because of the Pandemic or you made all payments on time but you are over leveraged because you have depend on your personal credit to support your business cash flow requirements.

Resolution: You can submit your current Experian Credit report to Money Man 4 Business. We will review the entire Credit report with you and develop narrative report to explain how problems & economically issues in the past has hurt your credit while you were building your business. In the past 10 years in the US Business Owners has been depending on personal credit & financing that has taken away from the business profit margins. We recommend you obtain current credit report for only $1 from the LINK below. After you submit the Current Experian credit report. We will review in detail with you and help compose narrative report that we will submit on your business behalf for your application to be reconsidered for SBA EIDL loan. Link to IQ: https://www.identityiq.com/sc-securepreferred.aspx?offercode=4311491X

When the SBA did certain types of verification of various data of information regarding the Legal Entity. Certain Information could not be verified such as Business Banking Information, Your Federal EIN, Legal Entity Status, Taxes or other financial Information could not be verified.

Resolution: We have list of various items to use to verify Business Financial & Entity information. That information is submitted using IRS & SBA required Government forms. The process is manged by our SBA Specialist Team to ensure compliance and accuracy. The most consumed time currently is ordering the Business prior years Federal Tax return information. Files are getting funded. Patience and Accuracy is important, Money Man 4 business has the knowledge.

Related Programs

888.88.CASH.1 ext: 0 (888.882.2741)

Cash@moneyman4business.com

Or

Inquiry Now
February 14, 2025

WANT TO START YOUR SMALL BUSINESS – GRAB SBA 7(A) LOAN INSURED BY THE SBA

SBA 7(a) loans, small business loans, low-interest rates, government-backed loans
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Little to know about the SBA 7(a) before you start

Small Business Administration (SBA) is a government agency in the U.S. that assists the small business owners and their small businesses by providing small business loan. SBA aims at strengthening the US’s economy by helping a small business to grow. Small business loan refers to an amount given to an aspirant who wishes to start a small business. Business owner can use the small business loan for an existing small business, to start a new small business or to finance an existing small business and for the activities that may require cash in the future. In other word we can say that entrepreneurs need capital for conducting day to day business.

SBA 7(A) loan –Make your dream come true

There are different SBA loan programs out of which SBA 7(A) is the prime one that offers small business loan to the existing small business or to start a fresh small business. SBA 7(A) loans can be used for variety of purposes and the SBA is responsible for setting the upper limit of the interest rates that can be charged on the SBA 7(A) loan by the banks. Maximum interest rate on the SBA 7(A), in turn, depends upon the market rates. It changes as the market rate changes. Upper interest rate on SBA 7(A) loan is majorly dependent on 3 factors-the base rate or prime rate or SBA peg rate, duration of the term of the loan, which may be lesser or greater than 7 years and the size of the loan.

Who can approach SBA for SBA 7(A) loan?

To gain the benefit of acquiring SBA 7(A) loan, a business must be small as according to the definition given by the SBA, should do business in the U.S., should have reasonable equity investment, must have used the other financial resources plus the personal assets before obtaining financial help and should be able to present the need for the SBA 7(A) loan. Also, person seeking the loan must not be default for any existing debt obligation to the U.S. government. The loan applied must be used for the right business purpose.

Are You All Set: Quick check on the documents

A loan applicant is probably asked to furnish his/her personal details as about his/her background, his/her address, names that he/she uses his/her educational background and criminal record, if any. Prior criminal history is not necessary disqualification. Special committee make the final decision. He/She also has to produce his/her business experience to assess his/her efficiency in the business he/she has suggested and acquiring loan for. He/She should be able to submit prior years business financial statements. projecting the financial statements, profit and loss, cash flows and balance sheet. Most of the time, applicant is required to produce his/her personal and business income tax returns from last 3 years. Other documents may include business credit report, financial and bank statements and some other legal documents like business licenses and registrations required for to conduct business, Articles of Incorporation, copies of contracts with any third parties, commercial leases and franchise agreements.

What is the typical cost for SBA 7(a) Loan

  • $70,000 to $350,000 are the typical SBA 7(a) Loan size.
  • Loan amount for typical of $350,000.
  • For 10 years for Interest & Principal repayment term,
  • Monthly payment $3,929.80, Interest rate 6.25% APR including fees 7.73%.
  • The most typical rates are 6.25% to 7.25% interest rate is variable and based on Prime Rate plus 2.75% to 3.75%.

Your SBA resource Specialist can advise and suggest the various other options and exceptions are available.

So Are you ready to choose between 44 business loan programs ?

APR starting from 5.49%

Pre-approve your loan now

Inquiry Now
February 14, 2025

SBA EIDL Reconsideration Business Loan Program

SBA EIDL reconsideration, business loans, fast funding, additional funding
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SBA EIDL Reconsideration Program

Apply Now

If your SBA EIDL loan application was denied or you need additional funds from EIDL. You still have an opportunity to submit an explanation, provide updated information utilizing SBA & IRS forms. Request your application to be reviewed again. Money Man 4 Business offer Loan Packaging services have been very successful with the EIDL reconsideration.

SBA EIDL did not offer, approved or funded your business with enough capital less than the current $150,000 CAP for SBA EIDL loans.You may qualify for additional capital especially if you can prove intend of use of the funds for Hiring more US-based employees & investing into USA made inventory.

Resolution: Speak directly with Money Man 4 Business, Chief Financial Officer John (JJ) Guillory at 281.763.2294 ext. 0. John Guillory has over 32+ years’ experience working with Government insured &/or funded Loans.

When an applicant applies for SBA Economic Injury Disaster Loan, the economic injury is not substantiated based on the initial application. On the basis of information provided by you on your loan application, it has been determined that your economic injury cannot be substantiated.

Many applicants did not seek professional or experienced help completing the application & incorrect figures were used on the initial application.

Resolution: Money Man 4 Business can request your application to be reconsider for up to $2 million which is the current CAP amount for SBA EIDL loans. If your figures were reported incorrect. Money Man 4 Business will revise any portion of the application that may had been incorrectly report at the initial application.

If you had late payments in the past and might be caused by you are struggling with low cash flow, reduced business revenue because of the disaster or you made all payments on time but you are over leveraged because you have depend on your personal credit to support your business cash flow requirements.

Resolution: You can submit your current Experian Credit report to Money Man 4 Business. We will review the entire Credit report with you and develop narrative report to explain how problems & economically issues in the past has hurt your credit while you were building your business. In the past 10 years in the US Business Owners has been depending on personal credit & financing that has taken away from the business profit margins.We recommend you obtain a FREE current “Experian” consumer credit report from here. After you submit the Current Experian credit report. We will review in detail with you and help compose narrative report that we will submit on your business behalf for your application to be reconsidered for SBA EIDL loan. Link to IQ: https://www.identityiq.com/sc-securepreferred.aspx?offercode=4311491X

When the SBA did certain types of verification of various data of information regarding the Legal Entity. Certain Information could not be verified such as Business Banking Information, Your Federal EIN, Legal Entity Status, Taxes or other financial Information could not be verified.

Resolution: We have list of various items to use to verify Business Financial & Entity information. That information is submitted using IRS & SBA required Government forms. The process is manged by our SBA Specialist Team to ensure compliance and accuracy. The most consumed time currently is ordering the Business prior years Federal Tax return information. Files are getting funded. Patience and Accuracy is important, Money Man 4 Business has the knowledge.

Related Programs

888.88.CASH.1 ext: 0 (888.882.2741)

Cash@moneyman4business.com

Or

Inquiry Now
November 18, 2024

SBA 504 Loan Program

SBA 504 Loan, Real Estate Financing, Equipment Loans
0

SBA 504 Loan Program
From Money Man 4 Business

Check your eligibility in less
than 3 minutes with our Eligibility survey.

3 MINUTES ELIGIBILITY SURVEY

OR

Best for small to medium size business owners

SBA 504 loan program can be very beneficial for small to medium size businesses due to their longer repayment period and fixed interest rate. We at Money Man 4 Business make sure you get the best program at best rate for your business growth and success. And we have made this easier for your business to check their eligibility for our business loan programs with our 3 minutes eligibility Survey. Just visit our website moneyman4business.com and click on 3 minutes eligibility Survey.

Why SBA 504 loan program

Money man 4 Business has a customized solution & can offers of the SBA 504 & other Microloan for independent companies.  Additionally, SBA 504 Loan for business loans is a very good resource for businesses & allow the business to grow through the acquisition of commercial land, refinance existing Commercial Business Mortgage, Restaurants, Bars, Retailer Build-out floor plans, all the business fixtures, equipment, furniture and many more fixed assets, start-up inventory,  Heavy Commercial equipment, various manufacturing machinery equipment & limited to 20% of Commercial appraisal amount can be cash out for business cash flow at the time of loan closing and many more use of proceeds for  you and your project to be successful.

The U.S. Small Business Administration 504 Certified Development Company Loan program conserves your working capital by requiring only a 10 percent borrower contribution. If you do not qualify for conventional financing, the SBA-backed 504 loan may be right for you. Certified Development Companies (CDCs) are nonprofit corporations that promote economic development within their communities through 504 loans. The SBA authorizes CDCs to provide financing to small businesses with the help of third-party lenders (typically banks). SBA loan amount: Loans are generally from $1.5 million and $10 million.

Features:

  • Amounts up to $10 million
  • Tenure up to 25 years for real estate
  • Tenure up to 10 years for Machinery and Equipment
  • Commercial real estate 90% LTV
  • No Minimum credit score required
  • Multiple loans can be consolidated and/or refinanced
  • Interest rate Current Prime + 3% variable rate
  • Backed by US Govt.

SBA 504 Loan Structure:

  • 50% Bank – First position. Approved SBA Lender
  • 40% CDC – Second position. Approved CDC in your State.
  • 10% equity from borrower
    • Borrowers can refi up to 90% of the current appraised property value. The refinancing may also include eligible business expenses
    • Other Assets can be used as collateral to get to 90% LTV
      • If the real estate is for special use, it will require an extra 5% borrower injection

Use of Proceeds:

  • Long-term, fixed assets for expansion or modernization (usually real estate or large heavy equipment with life expectancy of more than 10 years).
  • Refinancing of large equipment and/or owner-occupied commercial real estate may also be possible.
  • Commercial real estate 90% LTV for Refinance, Purchase & Construction loans

Speak with our CFOMr. John Guillory.

It’s very simple to make an Inquiry online or take a 3 minutes eligibility survey at our website or just call us at 888.882.2741 Ext.0 (888.88.CASH.1 ext-0) and ask for Mr John Guillory.

Recent Fundings 

Recent Funding 1: Amount $1,100,000, monthly payment of $10,782  for 25 years Loan.

Recent Funding 2: Amount $1,600,000, monthly payment of $15,682  for 25 years Loan.

Recent Funding 3: Amount $3,200,000, monthly payment of $27,875.44 for 25 years Loan.

Eligibility

  • Business at least 24 months old
  • Debt being refinanced must be a commercial loan.
    • Refinance the loan is at least 24 months old at the time of 504 Refinance application.
    • 85% or more of the existing loan was used to obtain a 504 eligible fixed asset
    • Secured by a 504 Fixed Asset
    • Borrower has been current on loan payments for the last 12 months
  • 51% or more owner-occupied

Ineligible Businesses

  • Nonprofit (beneficent, strict, government substances)
  • Real Estate venture firms
  • Firms engaged with theoretical exercises
  • Dealers of uncommon coins and stamps
  • Firms engaged with loaning exercises
  • Businesses engaged with pyramid deals plan
  • Passive organizations
  • Private clubs and organizations that limit participation
  • Businesses essentially occupied with advancing religion
  • Businesses essentially occupied with political exercises

Ineligible Use of Funds

  • Requirement of Liquid fund or Working Capital (minimum amount can be approved)
  • To manage the Inventory
  • The assets which have the Goodwill
  • Several fees i.e., partnership fees
  • Tenant growth
  • Mostly for consolidating existing business debts

Required Documents:

  • Six months of bank statement & current month to the date Bank statement
  • Three years of Business & Personal tax returns.
  • Current Year to Date P&L / Balance Sheet date.
  • Schedule of Liabilities (download)
  • Money Man 4 Business application (LINK)
  • Schedule of Real estate assets. (Link)
  • Information on the collateral will be used to secure this 504 Loan. (if you selected the property).
  • Experian Credit report  https://www.experian.com/

Call us today we will assist with any questions or application requirements. Loans are Pre-Approved within 2 business days and complete funding within 5 to 15 business days.

Get Started Here!

It is quite easy for you to apply with us. Just visit our website moneyman4business.com. Look for SBA 504 Loan Program or any other programs you like to apply. At the top of the page you will find Apply online button, Just hit it and fill the application and you are good to go or else just call us at 888.882.2741 Ext-0. We are always here to help, If for whatever reason it goes to voicemail, We will call you back as soon as possible.

We are here for you

APPLY NOW

Need Help?

888.882.2741 Ext. 0

Cash@Moneyman4business.Com

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