Apply for
Emergency Relief*

Paycheck Protection Program


We can connect eligible small business to available lawyers
who can help you apply for the Paycheck Protection loan offered through the
Small Business Administration (SBA).

About

01
The newly enacted ”Coronavirus Aid, Relief, and. Economic Security Act” (CARES Act) is providing financial relief to small businesses and nonprofit organizations. Notably, the Payroll Protection Program allows small companies that maintain their payroll to benefit from federally guaranteed, forgivable loan assistance. Under the law, businesses that meet the SBA’s “small business concern” definition, as well as businesses with up to 500 employees, are eligible (subject to affiliation rules). For the purposes of this program, your total number of “employees” includes your full-time and part-time employees, in addition to individuals who work with you seasonally or on a temporary basis.

Your company can request up to 2.5 times your average monthly payroll costs, during the year preceding the application. If all employees are kept on payroll, SBA will forgive the portion of the loans used for payroll, rent, mortgage interest or utilities – for up to 8 weeks after the loan is issued and up to 100% of the loan. 
Under the law, businesses that meet the SBA’s “small business concern” definition, as well as businesses with up to 500 employees, are eligible (subject to affiliation rules). For the purposes of this program, your total number of “employees”includes your full-time and part-time employees, in addition to individuals who work with you seasonally or on a temporary basis.

How it works

02
Through our platform, you can quickly and securely submit information
about your business necessary for eligibility.
View your loan amount*
Based on the information you submit, we’ll let you know if your business is
eligible and the maximum amount you can access.
Secure your loan
We’ll connect you to a Lawtrades lawyer who will guide you through the entire
PPP application process including drafting, submission, answering
questions from the bank/government, securing funds, submitting loan forgiveness
forms, and unlimited consultations along the way.

FAQ

03
Will I qualify?
Under the law, businesses that meet the SBA’s “small business concern” definition, as well as businesses with up to 500 employees, are eligible (subject to affiliation rules). For the purposes of this program, your total number of “employees”includes your full-time and part-time employees, in addition to individuals who work with you seasonally or on a temporary basis.
When can I apply?
Starting April 3, 2020, small businesses can apply for and receive loans to cover their payroll and other qualifying expenses.
What about independent contractors and sole proprietors?
Some independent contractors and sole proprietors may be approved for a loan under the terms of this program.
How much funding can I get?
Your company can request up to 2.5 times your average monthly payroll costs, with a few exceptions. This amount cannot exceed $10 million. However, lenders will likely seek a good faith certification that your company needs these funds to support your operations.
Is it forgivable?
The loan is fully forgivable if used within 8 weeks of origination on payroll, rent, utilities, or mortgage payments. Since the loan is based on your previous year’s payroll, if you’ve reduced salary or headcount, part of the loan might not be forgivable.
Can I apply through Lawtrades?
A Lawtrades lawyer can confirm eligibility and work with you to submit your application to a participating bank. They will also answer any questions from the bank and/or government, submit documents to qualify you for loan forgiveness, and answer any of your questions throughout the whole process.
How much is it?
We require a $150 deposit to secure your attorney consultation in order to determine your eiligibility for the loan. If you are deemed ineligible, we will refund your deposit. If you are eligible, you will receive a proposal indicating the final price for the service. If you decide to proceed, we will apply your deposit towards the service payment.

Apply*

03

As always, if you have other questions that you’d like answered by lawyers
from Lawtrades, just email support@lawtrades.com—we’ll try to add your questions
to the queue or make a direct introduction.
Disclaimer: Lawtrades is not an authorized lender for the U.S. Small Business Administration’s (“SBA”) Paycheck Protection Program but we will connect you to an existing SBA 7(a) lender that is participating. Your loan agreement will identify your lender prior to your signing. Any loan made under SBA’s Paycheck Protection Program must also be submitted to and approved by the SBA. 
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All Rights Reserved.

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