- Why 1CL?
On March 27th President Trump signed in to law the CARES Act also known as the Paycheck Protection Program. Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses.
Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.
In order for your business to meet the eligibility requirements for a Coronavirus Relief Loan, it must be operational as of February 15, 2020 and had employees for whom it paid salaries and payroll taxes, or a paid independent contractors.
At 1st Commercial Lending, we pride ourselves on guiding each client through the often challenging and confusing process of business Financing. Our business Loan Specialists have over 35 years of combined lending experience and will work with you to evaluate the financial feasibility of the opportunity you are considering.
“1st Commercial Lending helped me in finding the best terms that I was able to get from any lender, and then saw the process through all the way to closing the deal, capably answering all of my questions and concerns along the way.
Of all of the lenders that I came across in this search, I found David to be the most knowledgeable and resourceful; he had thorough knowledge of his industry.
If you have a need for financing the purchase of an agency I would highly recommend that you put 1st Commercial Lending on the "short list" of lenders that you need to give strong consideration to working with.”