Paycheck Protection Program Loan Portal is Open! 💰

Paycheck Protection Program Loan Portal is Open! 💰

More About Paycheck Protection Program Loan Portal is Open! 💰

BitX Funding online Paycheck Protection Program (PPP) application portal is now open, January 18, 2021 for first-time (First Draw) and second time (Second Draw) applicants.

PPP loans offer:
• Up to $10 Million first draw and $2 Million second draw
• 1.00% interest rate
• 5-year repayment term
• No lender or government fees
• No collateral or personal guarantees required
• Possible forgiveness available
PPP loans can cover:
• Employee payroll
• Worker protection equipment including PPE
• Group health insurance expenses
• Rent/mortgage payments
• Software/cloud computing updates
• Supplier costs critical to business activities

Access your PPP application now. The deadline to apply is March 31, 2021. We suggest applying ASAP before funding runs out.

Prepare your documentation.
The updated documentation table below will assist with gathering the information needed to apply:

For Businesses with Employees (if applicable):
• 2019 and/or 2020 IRS 940, 941 or 944 payroll tax reports
• Payroll statement or similar documentation to demonstrate operations on 02/15/20
• For S or C Corps: Equivalent payroll processor records or IRS Wage and Tax Statements, along with the filed business tax return
• Summary of payroll expenses for Individual Employees with cash compensation over $100,000
• K-1 (IRS 1065) for Partnership Self Employed employment income
• General Ledger Reports or statements to assist with Health Care and Retirement benefits (S or C Corps may use IRS Form 1120 or IRS 1120-S)
• State Quarterly Wage Reporting Forms
• Non-Profit Applicants: Documentation proving you are authorized to borrow on behalf of the non-profit, if applicable
• Second Draw Applicants: Documentation demonstrating 25% reduction in gross receipts for loans greater than $150,000 is required. Including, but not limited to, tax forms, quarterly income statement, or bank statement. If the loan is $150,000 or less, you have the option to provide at application, however, you must minimally supply by loan forgiveness.

For Sole Proprietorship and Independent Contractors (if applicable):
• Form 1040 Schedule C or F for 2019 and/or 2020 (Self-employed individuals with no employees must submit Form 1099-MISC in addition to 1040 Schedule C or F)
• Payroll tax filings
• Payroll statement or similar documentation to demonstrate operations on 02/15/20
• Bank Statements to demonstrate payroll disbursements
• General Ledger Reports or statements to assist with Health Care and Retirement benefits
• State Quarterly Wage Reporting Forms
• Second Draw Applicants: Documentation demonstrating 25% reduction in gross receipts for loans greater than $150,000 is required. Including, but not limited to, tax forms, quarterly income statement, or bank statement. If the loan is $150,000 or less, you have the option to provide at application, however, you must minimally supply by loan forgiveness.

We look forward to helping you continue to serve your customers during these uncertain times.

You can reach a loan specialist by toll-free at 1-800-824-2407, or email at info@bitxfunding.com, or apply online here and we can guide you on which loans are the best fit for your business.








Tags: local events

Posted By: BitX Funding



Event Details

Date: December 8, 2020


This event also occurs on 12/15/2020, 12/22/2020, 12/29/2020, 01/05/2021 and 7 more dates. [see all dates]






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  • Visit Website
    Beautiful Family-Owned Cemetery with many available plot options including; Single, Multiple, Cremation Lots, Mausoleum and Columbarium.
    Designated sections for Pet Burials. Monument design and installation. Pre-Need Financing available.

  • Visit Website
    Currie's Tires has been providing Tires and Automotive Service to Fairfield County and a large part of the eastern seaboard for the last 88 years.

  • Visit Website
    ALL MAJOR INSURANCES ACCEPTED. HUSKY INSURANCE ACCEPTED FOR UNDER 21 Y/O.
    CLICK HERE FOR CUSTOMER REVIEWS

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  • Visit Website
    Beautiful Family-Owned Cemetery with many available plot options including; Single, Multiple, Cremation Lots, Mausoleum and Columbarium.
    Designated sections for Pet Burials. Monument design and installation. Pre-Need Financing available.

  • Visit Website
    Currie's Tires has been providing Tires and Automotive Service to Fairfield County and a large part of the eastern seaboard for the last 88 years.

  • Visit Website
    ALL MAJOR INSURANCES ACCEPTED. HUSKY INSURANCE ACCEPTED FOR UNDER 21 Y/O.
    CLICK HERE FOR CUSTOMER REVIEWS

More About this Event Poster: BitX Funding

BitX Funding is your online marketplace for small business loans and business insurance. From SBA, start-up lines of credit, short-term loans, mid-term loans to merchant cash advances and lines of credit, BitX is where lenders compete for your business. Our top-rated lenders focus on real-life business data and cash flow, which means you can qualify for small business loans even if your credit score isn’t perfect. We care about small business and it’s our mission to secure the right funding when you need small business loans.

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