The Loan Source: One of a small group of nonbank lenders that were approved by the SBA back in 1994, its website says you can register to be notified when their application portal is live. Its website says that they should be ready to accept applications soon for this latest round of funding, but only from existing Square customers. Square Capital: Although Square is best known for its point-of-sale software, the company received SBA approval to accept applications for PPP loans. It has resumed accepting applications and has partnered with Lendio to process and submit applications for first and second draw funding to the SBA. Ready Capital: This commercial lender is an approved provider of PPP loans. QuickBooks Capital: Owned by Intuit and known for its accounting software, QuickBooks Capital is now accepting applications for second draw funding loans. Its website is currently accepting applications for first and second draw loans. Newtek: Newtek’s Small Business Finance Program processed PPP loans that received funding through the first rounds of PPP funds. Liberty SBF: Although their background is in providing loans for commercial real estate, Liberty SBF is an approved SBA lender and is accepting applications for both first and second draw PPP loans. Lendistry: This California-based community development financial institution (CDFI) has an online application process and can submit PPP first and second draw loans to the SBA from small businesses in the following places: California, Colorado, Florida, Georgia, Illinois, Iowa, Maryland, Michigan, New Jersey, New York, Pennsylvania, Texas and the District of Columbia. A spokesperson for Kabbage said it is allowing eligible customers seeking a second draw loan to apply through K., a new entity that was created through American Express’ acquisition of Kabbage. It then partnered with an SBA-authorized bank and became a direct SBA lender to process and disburse PPP loans to qualified small businesses during PPP Round. Kabbage: Prior to the coronavirus crisis, this fintech company made loans to small businesses and consumers through its lending platform. Harvest Small Business Finance: This nonbank, SBA-approved lender says it focuses on commercial real estate lending to “small business borrowers who have traditionally been ignored by large, regional and community banks.” It is accepting applications for PPP first and second draw loans from any qualifying business through its website. Fountainhead: As a nonbank lender licensed to make SBA 7(a) loans, Fountainhead is accepting applications from any small business for first and second draw loans. Centerstone SBA Lending: This nonbank, SBA-approved lender is accepting applications from small businesses seeking PPP loans for both first and second draw loans. In order to qualify for the PPP loan amount received, Prime Harvest Inc's 2019 payroll expenses are estimated to be at least $276,480.On BlueVine's Website Nonbank Lenders Accepting PPP Loan Applications Please Note: Information on estimated payroll and compensation based on PPP rules is provided for informational purposes only.īased on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). #Harvest small business finance full
Additionally, because this standard calculation is based on the maximum loan eligibility, it will under-estimate payroll costs if the business did not apply for the full amount of loan to which it was entitled based on its 2019 payroll expenses and other variables described above.Because salaries for PPP eligibility purposes are capped at $100k, businesses with highly-compensated employees will yield an under-estimation of actual payroll costs.This estimation assumes that the PPP recipient applied for the full amount for which they were eligible, and no other variables affected the loan amount received.
Situations may exist in which it may not be accurate to estimate a PPP recipient's payroll expenses based on the amount of PPP loan received.
SES - Senior Executive Service Pay Calculatorįor Prime Harvest Inc, the calculation used to estimate payroll costs is shown below:. FWS - Federal Wage System Pay Calculator.
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