Sky Bridge Business Funding, a leading fintech provider of access to capital for small businesses, announced the immediate availability of its 100%-digital application to help small business owners with the process of applying for SBA-backed Paycheck Protection Program (PPP) loans.
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“Many small business owners are having a hard time working through the application process with their existing bank either because the bank doesn’t have the capacity to service all its clients or because the bank’s process is manual or both. Sky Bridge Business Funding provides a fast and easy solution for PPP applications,” said Jake Lerner, Senior Vice President of Business Development at Sky Bridge Business Funding. “We’re helping companies take their applications from beginning to end in minutes.”
Sky Bridge Business Funding started accepting applications this week and expects to be able to process over $1 billion of loan requests over the next few weeks to help small businesses obtain PPP loans.
PPP loans are issued by banks and backed by the SBA, so they require no collateral and no personal guarantees. PPP loans offer businesses affected by COVID-19 up to 2.5x their average monthly payroll costs—and, in many cases, are 100% forgivable.
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Sky Bridge Business Funding has opened its digital process to customers and non-customers alike, and has a dedicated team of professionals trained on the application process walking small business owners through the system at no charge to the business owner.
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