If you haven’t applied for your business’ Paycheck Protection Program loan, now is the time to take action.
QuickBooks has created an easy way to complete an application for a PPP loan within QuickBooks Capital, which is now available to a subset of QuickBooks customers who use the following products:
Intuit Online Payroll
QuickBooks Desktop Payroll on QuickBooks 2018, 2019 and 2020 - updated to the latest release
QuickBooks Online Payroll
QuickBooks Self-Employed - users who filed 2019 taxes with TurboTax Self-Employed
If you are interested in purchasing any of the QuickBooks accounting software or payroll products, call Peak Advisers at (303) 801-4772 or send us an email: info@peakadvisers.com.
The Small Business Administration (SBA) stopped accepting applications for Paycheck Protection Program loans because the processed loan volume reached the $349 billion level currently authorized by the CARES Act.
However, government leaders are working to get more funds approved for the Paycheck Protection Program. Given the large demand for federal relief funds, additional money could run out within days after Congress approves funding.
QuickBooks customers who receive notifications in their product should start their application now within QuickBooks Capital so we can submit applications to the Small Business Administration (SBA), if we are able, when additional funds become available.
The fine print
Users who have received an EIDL loan between January 31, 2020, and April 3, 2020, are not eligible to apply through QuickBooks Capital.
Given the large demand for additional authorized Paycheck Protection Program funds, and limits to our funding capacity, not every qualified Paycheck Protection Program applicant will receive a loan.
To learn more about the Paycheck Protection Program, please visit our resource center or FAQs for accounting professionals.
Intuit Financing Inc., (d/b/a QuickBooks Capital) is an authorized SBA Paycheck Protection Program Lender. QuickBooks Capital is a service offered by Intuit Financing Inc. (NMLS # 1136148), a subsidiary of Intuit Inc. Minimum loan amount varies by state.
Loans are made or arranged by Intuit Financing Inc. (AK #10000990, CA #6054856, D.C. #ML1136148, FL #CF9901279, MD #03-2339, MN #MN-RL-1136148, NM #1899, ND #MB102690, RI #20183584SL and #20183583LL, SD #MYL.3279,TN #166418, VM #7194, VT #7194 and #7195).