What is a Paycheck Protection Program Loan?
In the midst of the COVID-19 pandemic, we hope that you and your families are safe and healthy. We understand that many of us are experiencing financial difficulty due to loss of employment or business interruption.
For our customers that are small business owners or self-employed, you may want to consider a Paycheck Protection Program (PPP) Loan. These loans are authorized under the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) and administered by the Small Business Administration (“SBA”). Self-employed individuals and most businesses with fewer than 500 employees are eligible to receive a loan in an amount equal to 2.5 times monthly payroll expenses. The loan amount may be forgiven if certain requirements are met. Our affiliate, ReadyCap Lending, is a licensed SBA lender offering PPP loans.
Applications can be submitted at local banks or with ReadyCap Lending at ppp.readycapital.com. Please include “GMFS” in the referral section when prompted.
For questions regarding Small Business Administration loans, please email [email protected]
GMFS, LLC (“GMFS”) – NMLS ID#64997 is an Equal Housing Lender. GMFS is a wholly owned subsidiary of Ready Capital. GMFS will not receive direct or indirect compensation from Ready Capital in connection with Ready Capital’s SBA lending program. SBA loans are originated independent from GMFS by Ready Capital, and all SBA loans are subject to the guidelines established by Ready Capital and the Small Business Administration. GMFS does not determine the eligibility criteria, nor does GMFS render or influence any loan decisions made by Ready Capital. GMFS has not and will not share your personal or financial information with Ready Capital in connection with this advertisement.