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SBA Disaster Loan Programs

Get Help During COVID-19

How 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:

  1. Lending from $1 to $2,000,000 per transaction!
  2. 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!
  3. You will know within a very short period of time, after all the information is collected, what you qualify for.
Payment Protection Programs (PPP round 1 and PPP 2)

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)
Maximum Loan SizeUp to $2,000,000Up to $2,000,000Up to $150,000 (EIDL)
Up to $10,000 (Advance Grant)
Up to $5,000,000
Maximum Amount to Borrow2.5 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
  • Payroll Costs
  • Rent Payment
  • Mortgage Interest
  • Utility Payments
  • Property Damage Costs
  • Operations Expenditures
  • Worker Protection Expenditures
  • Payroll Costs
  • Rent Payment
  • Mortgage Interest
  • Utility Payments
  • Property Damage Costs
  • Operations Expenditures
  • Worker Protection Expenditures
  • Payroll
  • Rent
  • Utilities
  • Interest on Debt Incurred
  • Accounts Payable
  • Some bills that could have been paid had the disaster not occurred
  • Permanent Working Capital
  • Machinery & Equipment
  • Furniture & Fixtures
  • Purchase, construction or renovations to building including land
  • Business Acquisition
  • Refinance of existing Debt
Maximum Interest Rate1.00%1.00%3.75%Prime + 2.75%
Eligibility500 or fewer employees
  • 300 or fewer employees
  • 25% reduction in Gross Revenue for 1 Quarter of 2020
Based on SBA Size Standards and the 7(a) eligibility requirementsBased on SBA Size Standards and the 7(a) eligibility requirements
CollateralNo personal guarantee or collateral requiredNo personal guarantee or collateral requiredCollateral will be taken for all loans > $25,000For loan over $350,000, collateralize the loan to the maximum extent possible
Additional Benefits
  • Forgiveness Available
  • If full Forgiveness not granted, repayment over 5 years
  • No payment for 10 months from the end of your covered period, but interest does accrue
  • Forgiveness Available
  • If full Forgiveness not granted, repayment over 5 years
  • No payment for 10 months from the end of your covered period, but interest does accrue
Repayment over 30 years with no payments for the first 12 months
  • No SBA Fee
  • On new Loans up to 6 mths of payments made by the SBA up to a maximum amount T/B/D
  • On existing Loans up to 6 mths of payments made by the SBA up to a max amt T/B/D
Time Frame for ProgramEnds March 31, 2021Ends March 31, 2021Ends December 31, 2021Ends September 30, 2021

Chicago

6859 W. Addison
Chicago, IL 60634
800-975-1691

Crystal Lake

8600 US Hwy 14
Suite 102
Crystal Lake, IL 60012
815-893-7151
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Monday – Friday
8AM – 4PM

info@icadvisors.com

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