If your business has taken a hit in recent weeks, one thing is for sure — you’re definitely not alone.

Businesses all over the country have felt the shockwave of this pandemic. Non-essential businesses have had to temporarily shut their doors, and many have even had to lay off workers.

Those that are still trying to stay afloat during these turbulent times find themselves under immense financial pressure as they search for ways to pay employees, rent, and other bills.

And now, relief is here.

The federal government has provided relief loans during this time to help small businesses in need.

And guess what? With Fundera, you can apply right now for free.

Fundera is a small business loan marketplace that is helping to get Paycheck Protection Program and other relief loans to small business owners.

Its super simple, user-friendly application form ensures your application gets seen as quickly as possible.

Fundera will return pre-approved relief loan offers from up to 25 lenders, with funding as fast as 24 hours.

Paycheck Protection Program (PPP)

With the Coronavirus Aid, Relief, and Economic Stability Act (CARES Act), the Paycheck Protection Program (PPP) authorized $349 billion in federally guaranteed loans.

This allows small businesses to borrow up to $10 million to cover permitted payroll costs, which include salaries, health insurance premiums, rent, utilities, and interest on debt obligations.

Your business can borrow up to 2.5x of its average monthly payroll costs. For example: if your monthly payroll is $20,000, you can borrow up to $50,000.

And get this — these loans have an interest rate of just 1%. No, that’s not a typo!

The term of the loan is two years with the first payment deferred for 6 months. There is no collateral, no personal guarantees, and no borrower or lender fees payable to SBA.

But check this out — PPP loans also have a loan forgiveness program.

This means businesses that use the Paycheck Protection Program are eligible for complete loan forgiveness for the amount they spent on payroll costs, rent on a leasing agreement, payments on utilities, and additional wages to tipped employees.

PPP loans have eligibility requirements that your business must have been in operation on February 15, 2020.

How Do I Apply for a Relief Loan Through Fundera?

To apply for a PPP loan, fill out the simple application form on Fundera’s website. Fundera charges no fees and it’s completely free to apply.

Once you submit your application, you can sit back and relax while Fundera searches through products from dozens of top lenders to uncover your best offers.

A Fundera lending specialist will even help you compare your offers and select the best loan for you.