Your browser does not support the images displayed on this website. Morehouse, Union, Webster, West Carroll, Bordering counties in Missouri: Barry, Butler, Dunklin, Howell, Mcdonald, We are so grateful for the opportunity to be able to do what we love during the worst of times and Biz2Credit was the catalyst for that. Biz2Credit was so great because they were there for us when nobody else was. Eligible business owners need to go to: https://www.surveymonkey.com/r/N336ZYB Data cleaning involves numpy and pandas and ML building involves Text clusterings. Girardeau, Carroll, Carter, Cass, Cedar, Chariton, Christian, Clark, Clay, Clinton, Governor DeSantis activated the Florida Small Business Emergency Bridge Loan Program. Genevieve, Saline, Schuyler, Scotland, Scott, Shannon, Shelby, Stoddard, Stone, When can borrowers apply for PPP loan forgiveness? Important Information About Procedures for Opening a New Account. Your Application, Loan Forgiveness Eligibility Can Be Verified. We are excited to put our team back to work! As with many small business owners, he has closed his stores because of the . Paychex, Inc., a leading provider of payroll, human resource, insurance, and benefits outsourcing solutions for small- to medium-sized businesses, has partnered with Biz2Credit, a leading online credit resource for small businesses, to offer the Paychex Small Business Loan Resource Center, an online resource that gives business owners access to more than 1,200 lenders offering a variety of . Wayne, Webster, Winnebago, Winneshiek, Woodbury, Worth, Wright, Bordering counties in Illinois: Carroll, Hancock, Henderson, Jo Daviess, If you have applied with multiple lenders and would like your application to be funded be one of them that is unable to advance your application further because of duplicate submissions, you must contact the lender whose application has been accepted by the SBA and request that they withdraw it. Dundy, Fillmore, Franklin, Frontier, Furnas, Gage, Garden, Garfield, Gosper, Grant, Franklin, Gasconade, Gentry, Greene, Grundy, Harrison, Henry, Hickory, Holt, Howard, whats next? Greenville, Horry, Lancaster, Marlboro, Oconee, Pickens, Spartanburg, York, Bordering counties in Tennessee: Blount, Carter, Cocke, Greene, Johnson, Biz2Credit is cooperating with the SBA to combat fraud and improper activityduring the Paycheck Protection Program, in accordance with all the requirements assigned to SBA-approved lenders. If you have applied for a loan with multiple lenders in the same round, the SBA's system will accept the first valid application that arrives from a lender, and automatically reject subsequent ones. 1 Penn Plz Fl 31. London, Tolland, Windham, Bordering counties in Massachusetts: Berkshire, Hampden, Worcester, Bordering counties in New York: Dutchess, Putnam, Westchester, Bordering counties in Rhode Island: Kent, Providence, Washington, Delaware counties including: Kent, New Castle, Sussex, Bordering counties in Maryland: Caroline, Cecil, Dorchester, Kent, Queen Annes, Business growth requires capital. Rockcastle, Rowan, Russell, Scott, Shelby, Simpson, Spencer, Taylor, Todd, Trigg, Paid back from your business receipts. There is a significant number of applications, so processing times may be longer. Dodge, Dooly, Dougherty, Douglas, Early, Echols, Effingham, Elbert, Emanuel, Evans, Emporia City, Essex, Fairfax, Fairfax City, Falls Church City, Fauquier, Floyd, To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. Cowley, Harper, Labette, Meade, Montgomery, Morton, Seward, Stevens, Sumner, Bordering counties in Missouri: Mcdonald, Newton, Bordering counties in Texas: Bowie, Childress, Clay, Collingsworth, Cooke, Well this helps confirm Biz2Credit are not a scam. Got a reply in 2 hours. Calvert, Caroline, Carroll, Cecil, Charles, Dorchester, Frederick, Garrett, Harford, We were able to continue with the operation. American Bankers Association Letter to the SBA. . It was a stressful process but it got done. If you have received an E-Tran number, this means that your application has been accepted by the SBA. The future of the small business rescue plan is in limbo as stimulus talks stall, One-Third of New Yorks Small Businesses May Be Gone Forever, Heres what small business owners, many cash-strapped, want from the next GOP coronavirus bill, Thousands of Small Business Owners Have Not Gotten Disaster Loans the Government Promised Them, Restaurant trade group says pandemic aid wasnt enough to sustain the industry, as closures strike again, Covid-19 Whiplash Jolts Californias Small Businesses, COVID-19 turned college towns into ghost towns and businesses are struggling to survive, Emergency grant program for small businesses is out of money, Covid relief went to hair salons, restaurants, law firms -- and some members of Congress. Certain types of qualified expenses such as personal protective equipment and renovations to ensure places of work are compliant with government-required social distancing measures. We signed Loan Documents late in the day 2/12 and are waiting on funding now. In connection to statements issued by the SBA, there is an increased level of scrutiny for PPP loans to reduce fraud and abuse of the Paycheck Protection Program. Morton, Nemaha, Neosho, Ness, Norton, Osage, Osborne, Ottawa, Pawnee, Phillips, SBA has rolled out PPP loans, venue and restaurant grants. Using the platform, borrowers can apply for first draw, second draw, and sole proprietor loans. The SBA is taking in applications from thousands of PPP-approved lenders and is processing tens of thousands of applications every hour. Below are the specific things that count for payroll and non-payroll costs. Gregory, Haakon, Hamlin, Hand, Hanson, Harding, Hughes, Hutchinson, Hyde, Jackson, Fulton, Garland, Grant, Greene, Hempstead, Hot Spring, Howard, Independence, Izard, First Draw Sole Proprietors and Independant Contractors 2019 IRS Form 1040 Schedule C1 2020 invoice, bank statement or book of record showing business was operating as of 2/15/2020 Driver's License(s) or other Real ID document (front and back) Sole Proprietors with Employees 2019 IRS Form 1040 Schedule C 2020 IRS Form 941* for Quarter 1 OR Payroll statement covering 2/15/2020 2019 IRS Form 940* Driver's License(s) or other Real ID document(front and back) LLC (no employees) 2019 IRS Form 1040 Schedule C / 1065 / 1120(S) 2020 invoice, bank statement or book of record showing business was operating as of 2/15/2020 Driver's License(s) or other Real ID document (front and back) LLC (with employees), C-Copr, S-Corp, All Non-Partnerships 2019 IRS Form 940* IRS Form 941* (quarterly payroll tax form) - Latest Quarter 2019 business tax returns only for loans above $150k Driver's License(s) or other Real ID document (front and back) Non-Profit 2019 IRS Form 990* IRS Form 941 (quarterly payroll tax form) - Q1 2020 Proof for business activity - Latest Bank statements Driver's License(s) or other Real ID document (front and back) Farmers and Ranchers 2019 IRS Form 1040 Schedule F IRS Form 940 and IRS Form 943 (if applicable/have employees) Proof for business activity - 2020 Q1 Driver's License(s) or other Real ID document (front and back) Second Draw Annual Reduction: Annual IRS Income Tax Filings (required for annual reduction) Quarterly Reduction: Quarterly Financial Statements Quarterly or Monthly Bank Statements Accounting Software Summary Report Credit Card Receipts Sales Receipts. Further, general information provided throughout our website does not necessarily represent the views of our partners. North Slope Borough, Northwest Arctic Borough, Petersburg Borough, Pribilof Islands The majority of loans went to. This can take about 72 hours or 2 business days until you are able to see the funds in your account. Paychex Flex 800-741-6277. Press J to jump to the feed. Disclaimer: Information in the Knowledge Center is owned and managed by Biz2Credit and/or its editorial contributors, and does not necessarily represent the views of its funding partners. Business growth requires capital. Giles, Gloucester, Goochland, Grayson, Greene, Greensville, Halifax, Hampton City, SBA ALERT: The SBA has told lenders that they are working to resolve a problem where applications are being declined incorrectly by their system. Small business layoffs may have hit bottom: Study, How black bookstores are fighting to survive COVID-19, Clock ticking for small businesses squeezed out of government loans, now have a few months or less to survive, survey reveals, Small Business Owners Need Cash Now Or They Will Not Survive, Small Business Loan Approval Rates Plummeted In March 2020, Small business loan effort might be less generous than advertised, Biz2Credit's SBA Platform Biz2X Now Offering Free Access to Community Banks & Credit Unions, Senate Democrats block $250 billion expansion of small business loan program, Small Business Loan Approval Rates Plummeted in March 2020: Biz2Credit Small Business Lending IndexTM, These small-business owners made their dreams come true and then the coronavirus hit, How Paycheck Protection Loans Are Different Than Traditional 7(a) SBA Loans, $2.2 Trillion CARES Act Provides A Lifeline To Small Businesses, Resources for Small Businesses in Response to the Novel Coronavirus Pandemic, What Big Government Can Do To Save Small Business, List Of Coronavirus (COVID-19) Small Business Relief Programs, How to Get an SBA Coronavirus Disaster Loan, SBA Names NJ a 'Declared Disaster State', Opens Door for Businesses to Receive Disaster Relief Funding, Coronavirus -- Payroll tax holidays, zero interest rates good ammunition for US in crisis, SBA and small business disaster loans have never faced test like coronavirus, Small Business Is Too Big to FailWorking Together to Help Job Creators Weather this Storm, Widespread panic is setting in among small business owners nationwide, banking expert cautions, Trump Must Do More To Help Small Businesses During The Coronavirus Crisis. What is the process for applications after the application has been submitted? Once your loan application is accepted by the SBA, your dashboard will show an action button 'Add ACH Details.' Iroquois, Kankakee, Lawrence, Vermilion, Wabash, White, Will, Bordering counties in Kentucky: Boone, Breckinridge, Carroll, Daviess, Morgan, Nicholas, Ohio, Pendleton, Pleasants, Pocahontas, Preston, Putnam, Raleigh, to fill out a COVID-19 Business Assistance Survey. . We encourage all customers to speak up if they suspect abuse of the Paycheck Protection Program, using the resources the SBA provides. Kane, Kankakee, Kendall, Knox, La Salle, Lake, Lawrence, Lee, Livingston, Logan, Davis, Jones, Kemper, Lafayette, Lamar, Lauderdale, Lawrence, Leake, Lee, Leflore, Payment for vacation, parental, family, medical, or sick Ran Record $1.9 Trillion Budget Deficit in First Seven Months of Fiscal Year. back for updates periodically. Reaa (29), Lake And Peninsula Borough, Lower Kuskokwim Reaa (31), Lower Yukon Reaa 800-200-5678. What that could mean for the push to increase the national pay rate, 5 Amazing Small Businesses That Lasted Through the Pandemic, IBM Makes Resources Available to Small Business Owners At No Cost to Them, Cities With the Strongest Economic Recoveries From COVID-19 2021 Study, With PPP Ended, Small Business Must Look For Other Sources Of Funding, Covid-19 Has Had A Disproportionate Financial Impact On Black Small Businesses, New California COVID relief could include checks, business grants, child savings accounts, Start-ups boomed during the pandemic. Butler, Calhoun, Chambers, Cherokee, Chilton, Choctaw, Clarke, Clay, Cleburne, Behind our fast funding, reasonable rates and terms are human beings who keep an efficient, price-transparent environment top of mind. Houston, Jackson, Jefferson, Lamar, Lauderdale, Lawrence, Lee, Limestone, Lowndes, Biz2credit specialises in commercial loans, marketplace. loans are intended to bridge the gap between the time a major catastrophe hits and when a Please note that we have not once gotten anyone to pick up the phone and have only used emails to multiple emails of the ones below to get a response. PM me if you want contact info for this lender . We reviewed Biz2Credit based on 16 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. Companies are able to receiveup to 2.5xtheir average monthly payroll amount (3.5x for restaurants and hotels taking a second draw loan). Lender Verifies Employees who may have been laid off or furloughed can be For borrowers that received their PPP loan in 2020, covered periods may be either 8 or 24 weeks, at the choice of the borower. WestBridge seeks to partner with promising mid-sized companies run by outstanding entrepreneurs . Wilkinson, Winston, Yalobusha, Yazoo, Bordering counties in Alabama: Choctaw, Colbert, Franklin, Lamar, Lauderdale, Businesses eligible are businesses with under 50 full time / part-time employees, Stanton, Stevens, Sumner, Thomas, Trego, Wabaunsee, Wallace, Washington, Wichita, Applications must be submitted by March 31st. Purchasing essential goods for the business and purchases made pursuant to a contract prior to taking out the PPP loan. Cumberland, Essex, Gloucester, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, This rating has decreased by -3% over the last 12 months. Stewart, Sullivan, Sumner, Tipton, Trousdale, Unicoi, Union, Van Buren, Warren, By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. They're back to the silent treatment! Provide customer support services; Conduct surveys and . Rutherford, Scotland, Transylvania, Union, South Dakota counties including: Aurora, Beadle, Bennett, Bon Homme, Brookings, PEO Client Support. Mason, Mecosta, Menominee, Midland, Missaukee, Monroe, Montcalm, Montmorency, Since we started, Biz2Credit has been the best place for small businesses to get funding online. Spend less time worrying about business financing and more time taking on what's next. SBA Forms 2483, 2483-SD and 2483-C Required documentation can vary based on PPP loan type, SBA . Thanks! When your application status changes to "funded" it means your loan funds have been issued via the ACH system or via wire to the bank account you indicated in your ACH details. declaration. The company has a D rating from the Better Business Bureau, which noted an increase in . Biz2Credit Contract Support sent you a document to review and sign. Cumberland, Fulton, Graves, Hickman, Logan, Mccreary, Monroe, Simpson, Todd, Please contact your partner organization and request that they contact Biz2Credit's funding specialists about verifying your account via other means. Watauga, Wayne, Wilkes, Wilson, Yadkin, Yancey, Bordering counties in Georgia: Fannin, Rabun, Towns, Union, Bordering counties in South Carolina: Cherokee, Chesterfield, Dillon, How to reset a password? You will receive an email notification about the first payment due date on your PPP loan once your forgiveness has been processed. This can take 12-36 hours depending on which outstanding requirements you provided. 212-644-4555. Prepare all documents that are requested in your Biz2Credit account if you still need to - you should upload these securely right in your Biz2Credit account. We've provided over $7 . Jefferson, Leon, Madison, Nassau, Bordering counties in North Carolina: Cherokee, Clay, Jackson, Macon, Bordering counties in South Carolina: Abbeville, Aiken, Allendale, Anderson, Keep calling until you get a ring and eventually you will get through to someone. Note: The Disaster Support Resource Hub is a free resource maintained by Biz2Credit to assist business owners. According to the suit, this translates to more than $60,000 in interest in only 189 days, or an annualized interest rate of more than 47 percent. Businesses without employees are eligible for up to 2.5x their monthly personal salary capped at $8,333 per month. Chesapeake City, Chesterfield, Clarke, Clifton Forge City, Colonial Heights City, Then today I got and email from Cust Service saying "The SBA and Biz2Credit are currently working on your final loan document (SBA loan note). Saint Louis, Scott, Sherburne, Sibley, Stearns, Steele, Stevens, Swift, Todd, Minnesota: Review information from the Department of Employment and Economic Development and their interest-free emergency loans ranging from $2,500 to $35,000 to Minnesota-based businesses in need. Vinton, Warren, Washington, Wayne, Williams, Wood, Wyandot, Bordering counties in Indiana: Adams, Allen, De Kalb, Dearborn, Franklin, Jay, ACH information is the bank account details where you would like to receive your funds. Richland, Sargent, Sioux, Bordering counties in Nebraska: Boyd, Cedar, Cherry, Dakota, Dawes, Dixon, Keya When your application status changes to "funded" it means your loan funds have been issued via the ACH system or via wire to the bank account you indicated in your ACH details. Payroll, Time & Attendance, Benefits, Insurance, HR Services Support. Massachusetts: Small businesses with fewer than 50 employees can access funds up to $75,000 that are immediately available from a relief fund for Massachusetts businesses. Covered Period. The program includes over $16 billion in grants to shuttered venues, to be administered by SBAs Office of Disaster Assistance.