Journey To $100 Million

How Long It Took To Get PPP Funding

Informações:

Synopsis

The Paycheck Protection Program, otherwise known as the PPP was signed into law on March 27, 2020. This was part of a larger bill that was passed to help businesses and individuals recover from the economic fallout from the Coronavirus. From the moment information started circulating about this potential bill Erik started looking into it. He wanted to be one of the first in line to apply if and when it got signed into law. He started calling his local bank and asking about it. At the time it seemed we knew more about the loan program than they did as the details around the loan kept changing. Erik and Katya spent the next several days doing more research and preparing all of the paperwork that might be needed to apply. Approximately two and a half weeks after the bill passed we applied through our bank. We had the funds within a week. So, it took three weeks from the time the bill was passed until we received the loan. Like so many other things in business time was of the essence. We jumped on this opp