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There are two Loan Programs for Non-Profits

Emergency Injury Disaster Loan
Paycheck Protection Program

  • Traditional SBA 7(a) Loan

    • Request $10,000 advance​

    • ​Payable in three (3) business days​

  • Forgivable if you spend all the funds before June 30, 2020

  • Must use funds for:

    • Payroll (all areas of payroll, including taxes, employer-paid health benefits, sick leave, etc.)

    • Rent or Mortgage Interest

    • Utilities

  • Must have employees or hire employees by June 30, 2020

  • Any funds not spent by June 30, 2020, will be converted to a traditional loan

    • Interest rates estimated to be 4% - 10%​

Requirements:

  • EIN/Social Security Number

  • 90-Day Budget Plan

    • 2.5x Monthly Payroll Expenses

  • Liability Schedule (list of expenses)

  • Profit and Loss Schedule

  • Idea of Revenue to Repay Loan

Benefits

  • No Credit Check

  • No Guarantor or Collateral Need

  • Simple Application

  • Can Apply for Both Loans

If you would like more to discuss further, please contact us to schedule your assessment or request a checklist.

Book with M.A.P.S.