Submitting an application through Lendio does not guarantee you will receive the Paycheck Protection Program (PPP) loan.
As you fight for your members and athletes, we are fighting for you.
Our communities are rapidly changing, and we are striving each day to help power you through this challenging time. In this effort, we are partnering with Lendio to assist your gym with learning more about and applying for the Paycheck Protection Program (PPP).
What is the Paycheck Protection Program (PPP)?
The Paycheck Protection Program (PPP) is a loan to provide an incentive for small businesses to keep their workers on the payroll. According to the SBA, loans will be forgiven if all employees are kept on the payroll for eight weeks, compensation levels do not change, and the money is used for payroll, rent, most mortgage interest, or utilities.
Who is eligible?
According to the U.S. Department of the Treasury, all businesses in the U.S. with 500 or fewer employees can apply, including nonprofits, veterans organizations, Tribal business concerns, sole proprietorships, self-employed individuals, and independent contractors.
How do I apply?
To apply for the Paycheck Protection Program (PPP), you will need to submit a completed loan application. Required documentation may include, but is not necessarily limited to, your business formation details and your payroll documentation.
Lendio is a referral partner. Daxko does not represent any particular result from, and is not party to, any resulting arrangement or agreement between you and Lendio.