SBA Disaster Loan Programs
Get Help During COVID-19How We Stand Out From Every Other Platform In The Market For PPP
You have probably already received a lot of emails in the past several days offering you the opportunity to apply for PPP round 2 (or maybe PPP round 1 still).
Three reasons that separate Ivanhoe Capital Advisors and their East Coast lending partner from all other PPP funding opportunities:
- Lending from $1 to $2,000,000 per transaction!
- You will have an actual person you can talk with that will assist you every step of the way. No more frustration and no more long lead times. Just pure customer service!
- You will know within a very short period of time, after all the information is collected, what you qualify for.

Payment Protection Program (PPP) Round 2 Breakdown
We aren’t going to treat you like cattle by sending you to some random portal on the internet, then tell you to just figure it out, and call us when you’re done! That brings absolutely no value to you or your business. It makes you wonder why you would even need us in the first place for PPP help or SBA disaster relief!
Here is the Cliff Notes version of what entities are eligible:
- Independent contractors, eligible self-employed individuals, or sole proprietors
- Partnerships
- Employers with no more than 300 employees
- Have used or will use the full amount of their first PPP loan
- THE IMPORTANT ONE: Demonstrate at least a 25% reduction in gross receipts in the first, second, third, or fourth quarter of 2020 relative to the same 2019 quarter
How do you determine the loan amount?
- 3.5x’s average monthly payroll costs for foodservice & hospitality businesses
- 2.5x’s average monthly payroll costs for all other businesses
CARES ACT & SBA Disaster Loan Programs Compared
PPP1 (for those who didn't receive a PPP Loan previously) | PPP2 (for those who did receive a PPP loan previously) | EIDL (Economic Injury Disaster Loan with the Advance Grant program) | Standard SBA 7(a) | |
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Maximum Loan Size | Up to $2,000,000 | Up to $2,000,000 | Up to $150,000 (EIDL) Up to $10,000 (Advance Grant) | Up to $5,000,000 |
Maximum Amount to Borrow | 2.5 x's Avg Mthly Payroll 3.5 x's Avg Mthly Payroll (for Food Service & Hospitality) | 2.5 x's Avg Mthly Payroll 3.5 x's Avg Mthly Payroll (for Food Service & Hospitality) | ||
Use of Proceeds |
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Maximum Interest Rate | 1.00% | 1.00% | 3.75% | Prime + 2.75% |
Eligibility | 500 or fewer employees |
| Based on SBA Size Standards and the 7(a) eligibility requirements | Based on SBA Size Standards and the 7(a) eligibility requirements |
Collateral | No personal guarantee or collateral required | No personal guarantee or collateral required | Collateral will be taken for all loans > $25,000 | For loan over $350,000, collateralize the loan to the maximum extent possible |
Additional Benefits |
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| Repayment over 30 years with no payments for the first 12 months |
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Time Frame for Program | Ends March 31, 2021 | Ends March 31, 2021 | Ends December 31, 2021 | Ends September 30, 2021 |
Chicago
6859 W. Addison
Chicago, IL 60634
847-644-8085
Chicago, IL 60634
847-644-8085
Oak Brook
2625 Butterfield Rd 126 N
Oak Brook, IL 60523
847-644-8085
Monday – Friday
8AM – 4PM
info@icadvisors.com