SBA COVID-19 Relief Loan Program
Upward Capital Commercial Lending offers SBA COVID-19 Relief Loans to help businesses. Upward capital Commercial Lending can provide SBA relief loans up to $10 million so that businesses can support:
- Health Benefits
- Rent or mortgage payments on commercial properties
- Other debt obligations
COVID-19 Relief Loan Benefits
The new SBA relief loan program features:
- Financing up to $10 million
- 100% government-guaranteed funding through December 31, 2020
- Loans structured around payroll, expenses, and debt obligations
- Easy application forms
Qualifications and Restrictions
Borrowers are eligible for debt forgiveness equal to related expenses and payroll costs from March 1, 2020 through June 20, 2020. Debt forgiveness and relief is proportional to the number of employees laid off, excluding any salaries more than $100,000. SBA relief loans are available to both regular and seasonal businesses. Business owners must supply supporting documentation along with their applications to qualify for financing.
The SBA relief loan program will only be available for a limited time, in accordance with the Coronavirus Aid, Relief, and Economic Securities (CARES) Act. We have streamlined the application process to provide businesses with financing for recovery and relief throughout the United States. Contact Upward Capital Commercial Lending today and get the funding your business needs.
Who Can Apply?
This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors, and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19.
Small businesses in the hospitality and food industry with more than one location could also be eligible at the store and location level if the store employs less than 500 workers. This means each store location could be eligible.
How to Apply
You can apply through the side form.