How to Get PPP Loan Forgiveness
The funding of PPP loans is long gone, and it’s unknown if they will return. However, getting PPP loan forgiveness…

Microlending is a powerful tool that enables small business owners to turn their dreams into reality by providing small, yet impactful loans of $50,000 or less. Unlike traditional lenders, microlenders are nonprofit organizations that prioritize helping those from low and moderate-income backgrounds. With flexible loan qualification criteria, microlenders are eager to help entrepreneurs start or grow their businesses, paving the way for a brighter future.
Learn about funding solutions to meet your small business loan needs. Visit Accessity’s website to gain more information about the variety of loans they offer.
Browse Accessity's Loan OptionsAmPac Business Capital makes access to business capital as easy as ABC. Learn about their small business loans for all stages of growth.
Check Out AmPac's ProgramsAccion Opportunity Fund provides business loans to small business owners. They support the resilience of hard-working entrepreneurs. The loan terms are transparent, and the loans are easy to get, fast, and affordable.
Look for FundsCDC Small Business Finance is offering financial programs, resources, and webinars. Find CDC Small Business Finance’s most up to date information here.
Find Loan Relief OptionsBe prepared to justify your income and expense projections; be able to show that the income is based on X number of units or services sold over a period of time for each month, i.e. you are open 300 hours a month and expect to sell an average of 20 units every hour with an average price of $10.00. What are the costs based on? Include details such as hours of opening, cost of raw materials, rate of pay?
If you are a new business, expect to show you have funds to contribute to the project and support your personal income needs.
Check your personal credit score, use an online service to be sure there are no surprises. Pay down revolving debt to 30% or below the maximum allowed to maximize our credit score presentation.
Have your accountant look over your internal bookkeeping to be sure it is correct.
Monitor your personal credit by paying bills on time, not having more than 3 inquiries in 6 months, and keeping credit card utilization at 30% or below. Lenders require a personal guaranty and your personal credit is important to be eligible for a loan.
Save money before your start your business so you can show you have capital to invest if needed. Lenders don’t like to take 100% of the risk, they want to know you have “skin in the game.” Carry a cash reserve so you can use your money to get more money.
Keep good records for your business transactions using an accounting software like QuickBooks so you can print a Balance Sheet and Income Statement when you need it. Also, understanding what happened earlier, can help you forecast for the future and prepare for it. If you foresee that you will need funds during the holiday season, you can start the process now and not when your funds are depleted.
If you are a startup, draft a business plan to include a description of the business, your experience & knowledge of the industry, a detail of the business capital needs, a marketing plan, and the financial projections. Some lenders require a business plan for young businesses as well.
File your taxes timely, most lenders will ask for 2 most recent tax returns (personal and business) and might reject your application if you have not filed them.
At some point you’ll seek a business loan, to take on a new contract, hire employees, or finance an expansion to a new location. Whatever you do, be on the lookout for bad lenders. Online predators make huge profits from unwary borrowers anxious to get started with their business and reluctant to take the right steps to get a good loan.
Trust worthy lenders will need to see you have a good history of repaying your loans (credit score) and reporting your income (tax returns.
The funding of PPP loans is long gone, and it’s unknown if they will return. However, getting PPP loan forgiveness…
Securing business loans with bad credit can be daunting, but it is not impossible. This guide will review the options…
If you're an entrepreneur planning to launch your enterprise, you’re considering loans for your small business start-up. For any business…
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