As we all know the Covid-19 pandemic precautions have caused many businesses to struggle. The Payroll Protection Program is a business loan designed to relieve some of that burden while we continue to navigate these trying times. QuickBooks, the accounting program we use here at Edj Consulting Group is teaming up with Cross River Bank, a SBA-approved lender, to facilitate PPP applications for a broader group of eligible QuickBooks customers directly through CRB’s platform.
This partnership makes the application process easier for accounting professionals and seamless for business owners. QuickBooks is working on a second PPP loan application for certain eligible QuickBooks and Intuit® Online Payroll customers who received a first-time PPP loan within QuickBooks Capital in 2020. These eligible customers will be able to apply for a second PPP loan up to $150,000.
The CRB application is for certain eligible QuickBooks customers who:
-Want to apply for a first-time PPP loan
-Who seek a second-time PPP loan
-Who don’t have an active Intuit payroll account
-Who don’t meet other QuickBooks Capital eligibility requirements
Eligible QuickBooks customers applying for a loan greater than $150,000 can also apply for a PPP loan through CRB. Together, with CRB, QuickBooks Capital helped to fund $1.2 billion in PPP loans for QuickBooks customers in 2020.
When I decided to partner my firm with QuickBooks as a Firm of the Future it was because of QuickBooks's dedication, support, and uplifting manner towards small and growing businesses. If you have any questions regarding business financial support during these challenging times please feel free to reach out. I would love to be of service any way my firm can make possible.
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