SBA 7(a) Loans up to $500k Now Available

Forgiveness Status Definitions with SLAs

How to check your application status Status Definitions i. Accessed Portal but not Started Application – Please begin your application today by launching the forgiveness portal and clicking the “Complete Forgiveness Application” button. We encourage all PPP loan forgiveness applicants to always have Your PPP Forgiveness Guide readily available during your application process. ii. Started Application – Please […]

PPP Loan Forgiveness Glossary of Key Terms

Baseline Period: (see Look-Back Period) Covered Period: The period during which PPP loan funds must be spent on payroll and other eligible expenses to be included for forgiveness. The covered period is elected by the borrower and may be any number of weeks from 8 to 24, beginning on the loan disbursement date Covered Operations […]

To qualify for an SBA 7(a) small business loan, your business must be:

  1. U.S.-based and operated
  2. Owner supported / owner funded
  3. Eligible per the SBA’s requirements

Your loan amount will determined by the business’ average annual revenue, FICO score, and years in business