PPP is offered by the US Department of Treasury and Small Business Administration (SBA), being a part of a EUR 2 trillion CARES Act aimed at getting small business owners back on track and Americans back to work during and following of COVID-19 pandemic.
Account managers of Funding Circle will contact small business owners who are interested in the loans after they sign up and will work with them to prepare their application to access funding as soon as Funding Circle is approved under the program to lend.
Therefore, the pre-application system will enable small business owners to get the funding they need as soon as fintech lenders are officially admitted into the programme.
Along with Funding Circle, Lendio announced applications for the Paycheck Protection Program. The online lender revealed small business owners can apply directly through the lender’s portal and will be connected with one of the approved capital providers in Lendio’s network of banks, credit unions, and fintech lenders.
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