Apply for your SBA PPP Loan Through Divvy
NOTICE: The Small Business Administration (SBA) announced Funding is Exhausted for the $350 Billion Small-Business Paycheck Protection Program as of April 16, 2020. SBA says it is unable at this time to accept new aid applications or enroll new lenders.
A $350 billion loan program for small businesses hurt by the coronavirus pandemic ran out of money Thursday morning as Republicans and Democrats continued to disagree over how to replenish the funds. Republicans want to approve $250 billion more for the loans, before moving on to other aid and stimulus proposals. Democrats want to make changes to the small-business program and include money for hospitals, state and local governments, and food assistance recipients alongside it. Squire is closely monitoring the situation and will provide updates as information becomes available.
What are my options? If you have already applied your loan is still in line and progressing through in the queue with hopes that Congress and the President will approve additional funds. As soon as Congress acts, hopefully by next week, to add $250B to the pot, it will move to the President’s desk for approval. Lenders will then be in a position to continue working through their remaining queue of loans. If you have not yet applied, you will be able to apply at that time.
Squire has partnered with Divvy to provide white-glove support to clients going through the Payroll Protection Plan loan process. Squire is the leading expert in the requirements, rules, and calculations. Divvy is the leader in pain-free, fast processing of loan applications. They provide a visible, streamlined approach in their application process. We are excited that by joining together, we can provide the best experience out there!
- Start here with this request form: https://getdivvy.com/covid-19-squire-sba-ppp-loans/
- You’ll receive an email with the link to apply.
- Gather the information requested – see the list that is located in the link above.
- Use Squire’s PPP loan calculator to determine your detailed monthly payroll costs and confirm the application’s form matches.
- Complete your loan application. Here is a video walkthrough of the Divvy | CRB digital application experience.
- Your loans will be serviced by the lender Divvy has partnered with, in this case, Cross River Bank.
- You will have visibility to see the status of the loan process all along the way!
Squire is here to help you with your questions and calculations and Divvy is here to help you get your money! Please reach out to Squire through our COVID Request Form if you have any questions or need assistance with the process.