B2E Solutions, in partnership with Adesso Capital, is proud to offer PPP application assistance.
As of May 5th, 2021, the SBA has stopped accepting PPP applications from most US Lenders as PPP funds have run out. Some money may still be available through a Government set-aside for community financial institutions, which generally service underserved communities.Please visit www.sba.gov for more information.
Know where to go for the
Paycheck Protection Program (PPP) application process.
The Paycheck Protection Program is offering low-interest loans that may be fully forgiven if allocated properly. Both first-time borrowers and those who previously received a PPP loan are eligible to apply under recently approved funding. Program Funds are limited. You may begin your application today.
Business must have been operating before February 15th, 2020
Any small business concern that meets SBA’s size limits below, including corporations and Partnerships.
Independent Contractors (1099)
501(c)(3) non-profit organization
501(c)(19) veterans organization
Tribal business concerns
How much can I borrow?
Businesses with Employees
Most businesses are eligible for up to 2.5x their average monthly payroll cost in 2019. Restaurants and Lodging are eligible for up to 3.5x.
Payroll Costs include: Wages, tips, insurance benefits, retirement contributions, state & local taxes, including unemployment insurance.
Maximum Loan Amount First PPP Loan is $10M Second PPP Draw is $2M *First Draw plus Second Draw can not exceed $10M
Businesses without Employees
Businesses without Employees are eligible for up to 2.5x their average monthly 2019 Net-Profit. - Net-Profit is as reported on your 2019 IRS Form 1040 Schedule C - Line 31 - Maximum PPP Loan Amount = $20,833.
How do I get my PPP Loan Forgiven?
Businesses with Employees – Borrower demonstrates:
Spends 60% of the funds spent on payroll, inclusive of Benefits and Taxes
The balance can be spent on Rent or Mortgage Interest, Utilities, Personal Protection Equipment, and Supplies.
Businesses without Employees – Borrower demonstrates:
Spends fund on Payroll, Rent or Mortgage Interest, Utilities, Personal Protection Equipment, and Supplies, during the covered period.
The borrower could also claim the automatic owner compensation replacement, equal to 2.5 months of 2019 or 2020 net profit. This is an amount comparable to the allowable loan amount.
Forgiveness Process & Timing
You can apply for forgiveness any time after the funds are spent, up to the point that the loan matures.
We recommend that you apply for forgiveness before loan payments are due to otherwise begin (~15 months after disbursement)
For questions or concerns about your PPP application
Adesso Capital is offering support for business owners that are having trouble navigating the PPP application process. We understand the complexity of the application process. A Lending Specialist will respond back as soon as possible.
Adesso Capital is a Business Loan Broker who helps customers find an SBA-certified Lender participating in the Paycheck Protection Program (PPP). Borrowers will apply directly with the SBA-certified Lenders, who will issue and manage the PPP loan. Program funds are limited. Adesso does not guarantee that applications will be processed and submitted before Program funds are no longer available. There is no cost to you to apply for a PPP loan. Program information can change according to government policy.