Are there any SBA-backed lenders that will provide funding for new businesses that need to be set up to offset all the layoffs and job loss?
Thank you.
4 replies
Apr 7, 2020
If you were in business as of February 15, 2020, you can apply for a Paycheck Protection Program SBA loan. If your business does not meet that requirement, you can still apply for an SBA loan outside of the COVID-19 stimulus programs through an approved lender.
There are four eligibility requirements for SBA loans.
1) Be a for-profit business
2) Do business in the U.S.
3) Business owner has invested their own time or money into the business
4) Business cannot get funds from any other financial lender
You can apply for both SBA and non-SBA financing through Levelset by completing the application linked below.
Levelset Construction Financing
0 people found this helpful
Helpful
Apr 7, 2020
The SBA Paycheck Protection Program is only available to small businesses who had employees on the payroll before February 15, 2020. If your business does not meet that requirement, you can still apply for an SBA loan outside of the COVID-19 stimulus programs through an approved lender.
There are four eligibility requirements for SBA loans.
Be a for-profit business
Do business in the U.S.
Business owner has invested their own time or money into the business
Business cannot get funds from any other financial lender
You can apply for both SBA and non-SBA financing through Levelset by completing the application linked here.
4 people found this helpful
Helpful
Apr 7, 2020
Thank you for your answer. I've already taken care of the Paycheck protection loan. However, I am interested in finding out about SBA-backed 7(a) loans for new businesses. Do you provide such loans and if yes, what are your criteria?
Thank you.
0
Report Spam
Apr 7, 2020
Yes. We can help you apply for an SBA loan outside of the Paycheck Protection Program. The first step of the application is the same as applying for PPP loans: complete the application form linked below.
SBA Loan Application
After completing the application, a member of our Levelset Capital team will contact you to gather additional information or documentation in order to proceed with the application process.