If your business is a sole proprietor, self employed, a small business owner with employees, or an independent contractor the Paycheck Protection Program (PPP) may offer low interest loans that can be 100% forgiven. Capital Quotes is honored to be participating in the new round of SBA PPP loans. If this is your first round PPP loan or second PPP loan you may be eligible to apply.
Our online application is fast and simple to fill out and goes directly to our partner SBA bank allowing you to save time and get your loan proceeds quickly. Ready to apply?
Who can apply:
- If this is your second PPP loan
- Sole Proprietors, independent contractors, self-employed business persons, and small businesses with up to 300 employees in operation since February 15, 2020
- Those who experienced at least a 25% decrease in gross receipts in any quarter of 2020 relative to any quarter in 2019 who have already used or will use the full amount of their PPP loan are eligible to apply
- If this is your first PPP loan
- Get up to 2.5x your a 2019 or 2020 average monthly payroll expenses (or average monthly net profit for non-employers)
- 100% forgiveness
- You can apply for full or partial loan forgiveness. Full forgiveness can be approved if
- Your entire loan is used toward qualifying costs, and at least 60% of the loan is used for payroll cost
How can PPP funds be used?:
- Payroll cost (commissions, tips, salary, wages)
- Operations cost
- Employee benefits
- Supplier cost