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If your trucking company or freight brokerage business is struggling due to the coronavirus crises, you should know that there is financial help available through the Small Business Administration (SBA) via our affiliate, which includes traditional SBA programs, and several new temporary programs via the recently established CARES Act containing $376 billion in relief for small businesses and US workers.

* Since funds are limited these benefits are on a first come first serve basis. It is very likely that these funds will dry up soon and uncertain if the program will be extended by the government with a new wave of benefits.

THE PROGRAMS ARE:

PAYCHECK PROTECTION PROGRAM (PPP)
The PPP program provides loan forgiveness for retaining employees by temporarily expanding the traditional SBA 7(a) loan program.

PPP REQUIREMENTS

• Documents are received via Docusign
• Payroll Statements
• IRS Annual Form 940
• IRS Quarterly Summary Form 941 (Q1-Q4)
• # Employees as of Dec 31, 2019
• Annual Gross Revenue (Last 12 months)
• Monthly Rent or Mortgage
• # Employees as of today
• 2019 Payroll Cost

SBA EXPRESS BRIDGE LOANS
The SBA Express Bridge Loans allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.

SBA DEBT RELIEF
SBA Debt Relief is a financial reprieve by the SBA to small businesses during the COVID-19 pandemic.

SBA FINANCING REQUIREMENTS:

• Documents are received via Docusign
• Most recent business tax return
• Client must show profits for last (3) years business tax returns
• Client must have a 680+ FICO score
• Client must be in business for 2+ years
• Client must not have judgements, liens, bankruptcies, foreclosures

BRIDGE FINANCING REQUIREMENTS

• Documents are received via Docusign
• Last 3 months business bank statements
• Month to date transaction history for current month
• Most recent business tax return
• Client must have a 650+ FICO score
• Client must be open for business
• Client must be on pace (minimal decrease) in gross revenue for last three months
• Client must not have any open financing currently

Please complete the SHORT FORM below, the affiliate office that handles your local area will contact you shortly.

SHORT FORM

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