2021 Paycheck Protection Program

The Help You Need

The new Stimulus package signed by President Trump includes $248 billion for the Paycheck Protection Program extending the program through March 31, 2021

 

In an effort to help our business owners have the best chance of receiving PPP funding in the next round, Level Up Funding has partnered with ACAP & The Loan Source to give our clients a head start. 

 

By creating an account with us, applying for the next round of PPP loans will be faster and easier.

Act Now

  • Secures your place in the processing queue
  • One stop shop for loan application and forgiveness
  • Updates on loan status
  • Access to support

We know that funding will go fast but by being prepared with an existing account, you’ll be able to more quickly claim the funds that are critical for your business’ survival. 

 

Apply fast, get funded early, and get back to business. Your partners at Level Up Funding are here to help.

Questions & Answers

If I already received PPP funding from the first round, can I apply again?

YES. Under the new program business can qualify up to $2 million in funding again.

How is the loan amount being calculated?

Borrowers may receive a loan amount of up to 2.5X the average monthly payroll costs in the one year prior to the loan or the calendar year.

Food and Accommodation may qualify for up to 3.5X the average monthly payroll costs in the one year prior to the loan or the calendar year.

What are the qualifications?

  • Your business must have less than 300 employees.
  • Demonstrate a loss of 25 percent of gross receipts in any quarter during 2020 when compared to the same quarter in 2019.
  • Have entirely used the first PPP before a second loan is disbursed.

Will there be a forgiveness process?

YES. A simplified loan forgiveness process will be in place for loans up to $150,000.

**This information is accurate and updated as of 12.29.2020. Terms and Conditions are subject to change.