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Your Turnkey Solution for Paycheck Protection Program (PPP) Loans

The second round of funding will go fast. 

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Capitol
digitalapplication

Fantastic Digital Experience

Establish trust with your small business customers by providing a 100% digital, easy to complete application. 

LightOS

Simple & Light Operation

Leverage our digital document capture, verification and data extraction services to shrink your processing timelines.

sba integration

Integration with SBA & Core

Submission to the SBA and integration with your core in partnership with Fiserv.

Watch the Demo

Watch our Product Demo

Learn from our President and Cofounder, Mickey Konson, how this solution might be right for your institution.
Schedule a Meeting

Speak to a StreetShares Rep

Schedule a time to speak with our PPP lending agents and have your questions answered. 

FAQs

PPP FAQs

Check out our latest Paycheck Protection Program FAQ sheet. We will continue to update this page as more information becomes available.

Is your business customer eligible for a PPP loan? 

Most likely Yes! 

Most small businesses under 500 employees and in operation on or before February 15, 2020 qualify for the Paycheck Protection Program loans. 

 

Important PPP details for you and your customers

Use of funds 

  • Payroll (employee salaries and benefits), mortgage interest, rent, utilities, and interest on other debt. See SBA & U.S. Treasury rules for definitions and restrictions. 

Loan Amount

  • Up to 2.5x average monthly payroll over the past 12 months

Terms 

  • Payments are deferred for the first 6 months
  • Term length is 2 years 

Important PPP details for you and your customers (continued) 

Rate

  • Fixed 1% Annual Percentage Rate

Processing Fees to Lender

  • SBA will reimburse the lender processing fees for each covered loan made
    • 5 percent for loans of not more than $350,000
    • 3 percent of loans of more than $350,000 and less than $2,000,000
    • 1 percent for loans greater than $2,000,000

Forgiveness 

  • Up to 100% for funds used for approved purposes like payroll
  • No more than 25% of the forgiven amount may be used for purposes other than payroll

SBA Guaranteed

  • SBA guarantees 100% of the loan

Learn how your peers are enabling PPP lending

Learn how other banks and credit unions are enabling small business PPP loans across the country with the partnership between Fiserv and StreetShares Platform.

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IMPORTANT NOTE: StreetShares is a financial technology company, not affiliated with the SBA, Dept. of the Treasury, or any government agency. This site is for informational purposes only. It is not intended to constitute professional advice, including legal, financial, or tax advice, nor is StreetShares providing advice on any particular situation. Not a loan offer or a commitment to lend. 

StreetShares Lending Company, LLC  operates in California under CFL License #60DBO 44064.1900 Campus Commons Drive, Suite 200, Reston, VA 20191. Copyright © 2020 StreetShares, Inc. All Rights Reserved.