SBA Relief and Recovery Loans
To assist businesses impacted by the COVID-19 pandemic, the Small Business Task Force released a $367 billion relief and recovery package in the form of SBA loans. Since this announcement, Outside The Box Funding has been activated and engaged with businesses across the United States, accepting and process applications for SBA relief and recovery loans to help entrepreneurs thrive during the coronavirus outbreak.
Relief and Recovery Loans from Outside The Box Funding
SBA relief and recovery loans are based around a number of factors, including:
- Average payroll payments per month
- Rent or mortgage payments on commercial property
- Other debt-based payments and obligations
Relief and recovery loans are also available to seasonal businesses, and are based on payroll payments from March 1, 2020 through June 30, 2020.
COVID-19 relief and recovery loans provide financing up to $10 million and can be applied to:
- Payroll
- Employee salaries
- Medical leave
- Rent/mortgage payments
- Utilities
- Other debt
Relief and recovery loans cannot be used for business or commercial real estate acquisitions, or other uses outlined in typical SBA 7(a) loans. SBA relief and recovery loans from Outside The Box Funding are 100% government-guaranteed, and are available to both businesses and not-for-profit organizations.
SBA Relief and Recovery Loan Program:
SBA relief and recovery loans feature:
- Financing up to $10 million
- Terms up to 10 years
- No prepayment penalties
- No collateral required
- No personal guarantees
Applicants for SBA relief and recovery loans must provide:
- Completed application form
- SBA Form 1919
- Articles of Incorporation
- Valid driver’s license
- Payroll expense documentation
- IRS Forms 940 and 941
- Payroll summary with bank statement or employee pay stubs
- Itemization of payroll benefits
- 1099s if applicable
- Certification that employees are US residents
- 12-month profit and loss statement
- Recent mortgage or lease statement
- Most recent utility bills
Get Started Today
To apply for SBA relief and recovery loans from Outside The Box Funding, please fill out the form below, and one of our specialists will be in contact shortly to guide you through the next steps.
Check the links below for additional information
US Chamber Small Business ELA Loan Guide
PPP Overview
Paycheck Protection Program Application
First Bank Lake