Capitalize Loans

SBA DISASTER LOAN IN MIAMI

Paycheck Protection Program (PPP)

CARES (Coronavirus Aid, Relief and Economic Security) Act Program

Business Qualifications

Up to 100% loan forgiveness to qualified borrowers.

Amount

Eligibility

Loan amount

Use of funds

Terms

Understanding SBA 7(a) Paycheck Protection
Program Loan Forgiveness

This information is provided as a guide. Other conditions may apply.

Paycheck Protection Program (PPP)

CARES (Coronavirus Aid, Relief and Economic Security) Act Program

SBA Disaster Loans in Miami

If your small business is currently feeling the strain of the coronavirus pandemic, we are dedicated to helping you secure the relief you need. Learn how the loan works, if you qualify and how to apply with Capitalize Loans by your side.

Do you Qualify for SBA Disaster Loans?

If you answered yes to both of these questions you may be eligible for up to 100% loan forgiveness to qualified borrowers.

Loan Amount for Qualifying Small Businesses in Miami

Your small business is a vital part of our economy as a nation. The initial SBA disaster loan is intended to cover 8 weeks of payroll and reach a maximum amount of $10 million dollars.

Who Can Apply?

Capitalize Loans assists sole proprietors, independent contractors, and self-employed individuals documenting earned income on a Form 1099-MISC apply for an SBA Disaster Loan in Miami. It is advised you visit this page to calculate the amount you may qualify for. Acquiring an SBA disaster loan in Miami is easy and a huge benefit to your small business during unprecedented times.

How Can you Spend your SBA Disaster Loan?

Once provided with relief, you must disperse the funds through employee pay, including sick leave. As a small business owner, you must maintain group healthcare benefits, make interest payments on an existing commercial mortgage, and pay all rent or utilities.

What are the Terms?

You must repay your SBA disaster loan in up to 10 years at an interest rate of up to 4 percent. You may defer your loan for up to 1 year with no personal guarantee or collateral required.

Let’s Define SBA 7(a) Paycheck Protection Program Loan Forgiveness

As a small business owner, understanding what an SBA disaster loan is one of the easier challenges you may face. Specifically, the SBA 7(a) paycheck protection program loan forgiveness releases a borrower from repaying a portion or full of the borrowed amount.

Although some terms in accepting the loan are that the funds must be used for payroll, group health insurance expenses, interest payments or existing mortgage, rent, leases, and utilities. This includes hourly wages, tips, paid sick leave, and paid medical leave. However, it does exclude the full payment amount to employees whose annual salary is $100,000 or more.

Keep in Mind

Your small business may qualify for 100% loan forgiveness if the funds provided are used ONLY for qualifying expenses.

If employees are laid off during the time of your SBA loan, the amount of forgiveness is reduced by the decreased percentage of employees.
This information is provided as a guide. Other conditions may apply. Contact us at…. for more information regarding your SBA Loan.

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