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To better assist you we put together a list of common questions asked by our clients and it provides answers

No, we are not loan lenders. We just prepare your business documents for you to use for all of your loan submission needs.
At this moment we only prepare your documents. We do not submit.
According to guidelines, If you started a new business in 2020, can you still get a PPP loan? Yes: but only if you were operational on February 15, 2020.
According to guidelines, Contractors in operation on February 15, 2020 can apply for the PPP using a completed Schedule C for 2020. Your Schedule C does not need to be filed, but should still be reviewed by a tax professional for accuracy and completion. 1099-MISC forms for 2020 may need to be provided as supporting documentation.
SBA loans cannot be used for businesses in which the primary source of income is real estate investment. In fact, SBA loans can only fund real estate that is owner-occupied, and will be used primarily by the business that is taking out the loan. However, in most cases, a business only needs to occupy 51% of the property it has purchased. This means that they may be able to rent out the rest of the property to other tenants in order to supplement their income. Businesses that are getting financing to construct a new building for their business are often held to a higher standard; in most cases, at least 60% of the building must be occupied by the borrower, meaning that 40% or less of the property can be rented out to other tenants.
The CARES Act that set up the PPP loan program says you must be in business before February 15, 2020. It doesn’t say that providers must have a separate business account before that date.
Many 501(c)(6) nonprofits who did not qualify for a PPP loan during the first stimulus package are now eligible for this second round of the Paycheck Protection Program. The new PPP eligibility requirements for 501 (c)(6) nonprofits include: The organization must not employ more than 300 employees (up from 150);
The maximum amount of money you can borrow through the PPP is equal to 2.5 times your average monthly payroll costs or $10 million, whichever is lower. You should exclude from your calculation of average monthly payroll costs any compensation in excess of $100,000 per employee (which comes out to $15,385 per individual). But you can include payment for vacation, parental, family, medical and sick leave (that is not covered by another emergency loan/grant); payment for dismissal or separation; payment for group health care coverage, including insurance premiums; payment for retirement benefits and payment of state and local taxes assessed on employees’ compensation. To calculate your payroll costs, you can use averages costs from calendar year 2019 or from the previous 12 months. If your business launched in July of last year or later, you can use the average monthly costs from January 1, 2020 to February 29, 2020. (Many banks are telling applicants with older businesses to use this year’s numbers if they are more favorable to them than last year’s.) If you are a seasonal business, you can use the numbers from February 15 or March 1, 2019 to June 30, 2019. Additionally, you can add to your total loan amount the outstanding amount of any Economic Injury Disaster Loan (EIDL) made between January 31 and April 3, 2020, less any “advance” that is forgivable under an EIDL COVID-19
Though the Small Business Administration doesn't set specific SBA credit score minimums, approved SBA lenders will almost always have SBA loan requirements, credit score minimums often being one of the most important. Generally speaking, SBA loan credit score minimums typically fall somewhere around 620-640+
As far as formal requirements go, there is no credit score requirement you must meet in order to qualify for a PPP loan. This is despite the fact that the PPP program technically falls under the SBA’s 7(a) loan program, which does feature an acceptable credit requirement. However, this formal requirement has been suspended when it comes to Paycheck Protection Program loans. Now, if your business is suffering from the effects of this devastating pandemic and you’re seeking a PPP loan, be aware that, unfortunately, this policy does not guarantee that your credit profile won’t be taken into account when the PPP lender assesses your application.
Independent contractors and self-employed individuals like day traders can apply
Phoenix Finance Consulting GroupHeadquarters
Phoenix Finance is the worlds fastest growing Finance consulting and holding company
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OUR LOCATIONSWhere to find us?
Mcdonough, Georgia
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Infinity Business SolutionsHeadquarters
Phoenix Finance is the worlds fastest growing financial consulting and holdings company
678-907-4497
OUR LOCATIONSWhere to find us?
Mcdonough, Ga
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2221 Peachtree Rd NE, Atlanta, Georgia
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2021 Copyright by Phoenix Finance Consulting Group. All rights reserved. Created by Forde Technologies