Snyder Law is taking a proactive approach to the economic effects of the coronavirus pandemic. We are helping our clients and colleagues to prepare loan and grant packages for the upcoming release of relief funds via the CARES Act (stimulus bill), signed into law by President Trump on Friday, March 27, 2020, and additional monies signed into law on Friday, April 24, 2020.
As you are probably aware, the Small Business Administration (SBA) does not administer loans itself, but does back SBA loans when made through banks/lenders and FEMA. The CARES Act proposes to provide an estimated $335 Billion dollars in funding to small business and sole proprietors (independent contractors and agents; W-9 workers). The SBA (7a) Payroll Protection Plan loan (or “PPP”) offers up to 2-1/2 months of payroll related costs as a FORGIVABLE loan; and lending requirements will be relaxed. Applications for PPP relief funding are being accepted now!
Snyder Law has positioned itself with local SBA loan processors out of Philadelphia, PA and Lansdale, PA to package and process your loans for quick approval through SBA verified lenders. There is no fee to apply and the loans are forgivable. If not used for payroll (and a few other expenses) the loan is 1% interest with a 2 year term, and the first 6 to 12 months of payments will be deferred, so there is no reason not to apply.
Want to talk about your specific situation? If you need more information, we’re here to help. There’s no charge to discuss your loan options if you schedule here: https://calendly.com/jpeyton/sba-loan.
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Why choose us?
Snyder Law is a woman-owned firm supporting privately-held and family businesses. We are prepared to help you navigate the current changes. If you need more information, we’re here to help. There’s no charge to discuss your loan options if you schedule here: https://calendly.com/jpeyton/sba-loan.
Hyperion Bank opened its doors on the corner of 2nd Street and Girard Avenue in 2006 to support the local real estate community. They now serve the greater Philadelphia area to the Jersey Shore. Whether your dream is of a new or growing business, an investment property, or a new home, Hyperion Bank is here to help, with an array of lending, business banking, checking and savings products and superior personal service.
11 Capital has been preparing SBA loan packages for over 25 years. Their relationships with established private banks and lenders help to get your loan underwritten without delay. 50% of SBA loan applications are rejected – don’t let yours be one of them.