This program is for any small business with less than 300 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.
THE REFERRAL FEE TO BE PAID TO THE REFERRAL AGENT ON REFERRED PPP LOANS CLOSED UNDER THIS AGREEMENT WILL BE AS FOLLOWS:
- 0.50% of principal Loan amount of not more than $350,000
- 0.25% of principal Loan amount of more than $350,000, but less than $2 Million
- 0.12% of principal Loan amount of at least $2 Million