Paycheck Protection Program (PPP) Support Service
As part of ARA's efforts to assist ARA members during the COVID-19 crisis, ARA developed a relationship with Georgetown Capital Advisors to provide much-needed support to ARA member companies seeking funding under the Small Business Administration's (SBA) Paycheck Protection Program (PPP).
With the surge in interest and the first-of-its-kind nature of the program there has been significant confusion about the process for both applicants and lenders. Georgetown Capital Advisors provides no-fee support for small businesses seeking PPP loans.
ARA Webinar: New PPP Support Service
Georgetown Capital Advisors hosted an ARA Webinar on April 17 to answer any questions from members about PPP or the service they are providing to ARA Members.
To take advantage of this member service, click the button below to log in and access the firm's contact information, the webinar recording, and more.
Note: this webinar is for ARA members only and members must login to access the webinar and learn more about this service. If you do not have an ARA login, email Melisa Augusto at melisa@aradc.org.
About PPP
The program provides forgivable loans of up to $10 million to retain employees, pay for mortgage interest, rent, utility and certain other operational costs. Loans are for a 2 year term at a rate of 1%. There is a 6-month grace period for the first payment. Loan recipients who abide by the terms and conditions can request the loan be forgiven before the first payment is due.
Loans are issued by lending institutions approved by SBA and guaranteed by the government. Additionally, in the law creating the program Congress prohibited fees being charged to borrowers. So, unlike conventional loans, all fees associated with the origination and processing of PPP loans are paid by the government.