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In response to the economic impact of coronavirus, Congress rolled out the Main Street Loan Program to help businesses get funding to stay afloat. This program provides $600 billion in financing for all businesses. Before you consider applying for this loan program, there are a few things to consider.
In order for a business to qualify for the Main Street Lending Program loans, a business must:
How much can you borrow?
There are three different secured and unsecured 4-year term loan options under the Main Street Lending Program. For more information on the three types of loans, click here.
If you meet these above requirements, you can apply for the loans within the Main Street Lending Program. We want to help you get prepared before you apply. Download our TGG Main Street Loan Organizer, to ensure your financials are organized and ready to be reviewed!
This post was reviewed by our team of accounting and financial experts. TGG’s mission is to make business owners’ lives better through excellent financial management. We strive to provide the most up-to-date and objective information on accounting-related topics so our readers can make informed decisions based on factual content. All posts undergo a review process with at least one member of our Leadership Team to ensure accuracy.
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