PPP Round 2 Is Here and Radix is Ready to Help!
Application
What is the PPP?
A Payroll Protection Loan is a fully forgivable, Government funded cash injection designed to help business owners survive the pandemic.
A PPP loan As long as the funds are used for payroll, PPE or other eligible uses, businesses owners will never have to pay it back.
A PPP loan As long as the funds are used for payroll, PPE or other eligible uses, businesses owners will never have to pay it back.
Who is Eligible?
Any business that has suffered financial hardship in 2020, with at least one quarter of revenue down from 2019 by 25% should be eligible for this fully forgivable loan.
Most businesses are eligible to receive 2.5 times their monthly payroll, completely forgiven if used for eligible purposes. Restaurants qualify for 3.5 times their monthly payroll.
Most businesses are eligible to receive 2.5 times their monthly payroll, completely forgiven if used for eligible purposes. Restaurants qualify for 3.5 times their monthly payroll.
How Does One Apply?
Complete the application at the top of this page and a Radix team member will help reach out to you within 24 hours.
What is the Minimum Credit Score?
The SBA has not yet established any minimum credit score guidelines for borrowers under the CARES Act, but we believe borrowers with lower credit scores than usual will be able to qualify.
What is the Interest Rate and Loan Term?
Remember, if you use the money for approved purposes, the loan will be forgiven entirely. But if you put the money to other uses, the interest rate is 1%, fully amortizing over 2 years, with no prepayment penalty and no personal guarantees required. That’s still a great deal!
What are the Fees?
There will not be any lender, broker, or SBA fees. That means this loan program is free to borrowers.
Can I Qualify for this Loan if I also Applied for a Disaster Relief Loan?
Yes! Having an EIDL loan out already is not an issue!
Why Should I Apply With Radix?
Applying for Payroll relief loans can be very frustrating. Many lenders are only working with clients with whom they currently have relationships, and even then, they can picky. Radix is open to helping customers, even if they do not have a current working relationship.