If you are ready to apply for a paycheck protection program loan within quickbooks capital ppp then first, you need to keep some information. Here we have mentioned some points, read, and check all the points one by one carefully.
Starting today, certain eligible QuickBooks® customers seeking a second Paycheck Protection Program (PPP) loan can now start the application process within QuickBooks Capital. For this round of funding, the QuickBooks team built an automated, online second PPP loan application experience exclusively for customers:
who have previously received a PPP loan by applying through QuickBooks Capital, and
are seeking a second PPP loan of up to $150,000.1
Understand the step-by-step application process here or learn more about the Paycheck Protection Program here.
In addition to the application within QuickBooks Capital, QuickBooks is partnering with SBA-approved lender Cross River Bank (CRB) to facilitate second PPP loans for eligible customers. Please note that your business may be eligible for a higher loan amount through them directly or another SBA-approved lender.
PPP application through Cross River Platform
For eligible QuickBooks customers, CRB will originate and service the quickbooks capital ppp loans as well as manage the quickbooks capital ppp loan forgiveness process. The loan quickbooks capital ppp loan forgiveness application is currently available. Eligible customers can apply here.
The CRB application is for certain eligible QuickBooks customers who want to apply for a first-time quickbooks capital ppp center. It is also available to eligible QuickBooks customers seeking a second-time PPP loan and who don’t have an active Intuit payroll account or who don’t meet other quickbooks capital ppp loan eligibility requirements. Eligible QuickBooks customers applying for a loan greater than $150,000 can also apply for a PPP loan through CRB. CRB was one of the key lenders that worked with quickbooks capital PPP in funding loans for our customers in 2020.
Coronavirus Response and Relief Supplemental Appropriations Act of 2021
The Coronavirus Response and Relief Supplemental Appropriations Act of 2021, a $900 billion relief package, was signed into law on Dec. 27, 2020. The law includes an additional $284.45 billion in funding for Paycheck Protection Program (PPP) loans to help small businesses. In addition to providing funds for first-time borrowers, the new law provides small businesses with an opportunity to apply for a second PPP loan.
Generally, customers that were eligible for and received a PPP loan in 2020:
Can apply for a second PPP loan of up to $2 million.2
Can apply for a second PPP loan if they have used or will use the full amount of their first PPP loan on or before the disbursement of any second PPP loan.
Must show a revenue reduction in excess of 25% in gross receipts between the relevant periods in 2020 and 2019, as applicable.
Are not required to have applied for or received forgiveness for their first loan.
The new law also calls for a simpler loan forgiveness quickbooks capital ppp application for loans of $150,000 or less. Therefore, we’re continuing to build our online quickbooks capital ppp forgiveness experience within QuickBooks Capital PPP based on the latest guidance.
Some Easy steps quickbooks capital ppp round 2
Section: First, you need to know that not all businesses are eligible to apply for a PPP loan in QuickBooks Capital. So it is important to check the eligibility of your business before going further.
Section: You need to know when you will start the process of application then you have to complete the application within 48 hours. Because once started, you only have 48 hours to finish the application and submit it for review.
Section: You must have a QuickBooks Online or QuickBooks Self-Employed account with access to an active payroll subscription then it is required. There are different subscription plans available in quickbooks like Core plan, Premium plan, and Elite plan choose as per your requirements.
Section: Once you have decided that your business is eligible for a paycheck protection program loan then prepare your business’s documents carefully, like tax returns and payroll documentation. Borrowers may find this information in their payroll system and banking accounts.
Section: When you start any business then you must have an Employer Identification Number (EIN) issued by the IRS if you don’t have an EIN number then apply for it with the Internal Revenue Service (IRS). Keep this number ready when applying for a P
Conclusion
On comparing all of the top companies, we found QuickBooks Capital to be the easiest company to work with, and were pleased with the customer support. They were upfront and honest about loan amounts and rates, which is really important when you are dealing with a financial institution. QuickBooks Capital was also one of the few companies that offered a review period without making any changes to our existing loan agreements. Their online platform is also very user-friendly, making it an easy experience to apply for a loan and access your funds once they are deposited into your account. Need Any Help Please Contact quickbooks capital ppp phone number 1-855-857-0824
