The maximum loan amount under the program is the lesser of: the average total monthly payments by the applicant for payroll costs incurred during the 1-year period before the date on which the loan is made multiplied by 2.5*; plus the outstanding amounts of any...
Yes. Sole proprietors, independent contractors, gig economy workers, and self-employed individuals are all eligible for the Paycheck Protection Program.
You are eligible for a loan if you are a small business that employs 500 employees or fewer, or if your business is in an industry that has an employee-based size standard through SBA that is higher than 500 employees. In addition, if you are a restaurant, hotel, or a...
First United is an SBA authorized lender with delegated authority. Lenders with this delegated authority are given the ability to determine eligibility and credit worthiness without going directly to traditional SBA channels.
