Small Business Lending Source Partners with Firm to Offer ERTC Claims Advance
Small Business Lending Source is proud to announce that they are partnering with a reputable firm that specializes in ERTC claims advancement, to offer an ERTC claims advance to small business owners. This is an exciting collaboration that is being held to assist small businesses in the midst of the COVID-19 pandemic.
This partnership is expected to drastically improve the access to capital for small business owners while they await their ERTC claims. Through this collaboration, Small Business Lending Source has created a unique and streamlined process to ensure that small business owners receive the capital they need as quickly and easily as possible.
Overview of the partnership
Small Business Lending Source (SBLS) has joined forces with a reputable lender to offer Economic Injury Disaster Loan (EIDL) Claims Advance for business owners impacted by the coronavirus pandemic. This working relationship allows business owners to receive Payment Protection Program loans and Economic Injury Disaster Loan advances in a smoother, faster, more cost-effective way. Through this arrangement, SBLS brings business owners access to quick financial relief when they need it most.
The EIDL Claims Advance program ensures that businesses can find the resources they need while facing unexpected revenue losses due to COVID-19 shutdowns. SBLS’s partner lender is an experienced loan provider with a national network who specializes in fast EIDL advancements and understands the needs of small business owners dealing with pressing cash flow constraints.
Under this collaboration, SBLS will act as a payment processor who also provides customer service support for borrowers, making sure each gets his or her funds as quickly and efficiently as possible, reducing paperwork and delays typically associated with such loan application processes. To qualify for the program, businesses must have fewer than 500 employees and demonstrate economic injury caused by COVID-19 that is not currently covered by insurance or other sources of compensation.
This partnership between Small Business Lending Source and an experienced loan provider offers another avenue of relief to businesses across America struggling due to unprecedented disruption caused by the pandemic.
Benefits of the Partnership
Small Business Lending Source is partnering with a reputable firm to offer ERTC Claims Advance to small business owners. This partnership has numerous benefits for business owners, including immediate access to relief funds, improved cash flow, and lower stress. This partnership will enable small business owners to quickly and easily access capital to weather the economic storm and have necessary funds to keep their businesses running.
Faster access to funds
Fast access to capital has always been essential for small businesses to survive. The partnership between Small Business Lending Source and a reputable firm will allow business owners to access funds much faster than previously thought possible. ERTC Claim Advance offers business owners the ability to receive funds in as quickly as 24 hours or less, providing them with a reliable source of capital when they need it most. This new opportunity can provide a much-needed lifeline for small businesses struggling to manage their incomes in difficult times.
Through this partnership, business owners will be able to receive up to $2 million in ERTC advances with fewer requirements than traditional financial products. Small Business Lending Source has a high acceptance rate, thereby increasing the chances of entrepreneurs being approved for the loan quickly and easily. The terms are also advantageous; those who qualify can benefit from low interest rates and four repayment periods ranging from one month up to one year. Finally, Small Business Lending Source allows users to be flexible with how they use the funds as well—business owners aren't limited by how they need to use the money, beyond that it must be used for eligible ERTC expenses related only to their businesses.
The advantages of this partnership are numerous and will benefit countless small businesses who urgently need funds during difficult times. With faster access, more lenient terms and greater flexibility in use of the money, entrepreneurs have yet another way of accessing much-needed funds quickly and easily.
Lower interest rates
Small Business Lending Source is partnering with a trusted and highly respected financial services firm to bring ERTC Claims Advance to small and medium-sized businesses owners with improved terms and lower interest rates. The partnership will enable owners to receive an advance of up to $10,000 based on their expected tax credit entitlement from the Employee Retention Credit (ERC) established by the CARES Act and extended in the 2021 American Rescue Plan.
Small Business Lending Source's program features a competitive interest rate for borrowers compared to other funding options, saving them money as they work through unforeseen challenges posed by the Covid-19 pandemic. The ERTC Claims Advance is designed specifically for small business owners who may have limited access to additional capital but still need assistance in covering their expenses during these difficult times.
In addition, borrowers won't be required to pay back any part of the advance until they cash in on their expected ERC tax credit when filing taxes later this year or longer down the road. This offers businesses some much needed short term relief at a low interest rate so they can keep their doors open as they work towards achieving long-term success.
Improved customer service
By partnering with a reputable firm, Small Business Lending Source is able to offer improved customer service. Because of the partnership, SBLS will have access to up-to-date information and technology which will help streamline the claims process. Additionally, customers are provided more options when it comes to filing their ERTC Claims Advance applications. This improvement in customer service can lead to a reduced time that it takes customers to receive their funds and improved satisfaction with the service they receive.
With the availability of multiple payment methods due to the partnership, customers are also provided with more flexibility when it comes to payment options. Furthermore, thanks to the 24/7 support hotline partnered businesses can enjoy better access and faster resolution times during off-hours or on holidays.
How to Apply for ERTC Claims Advance
Small business lending source is partnering with a reputable firm to offer ERTC Claims Advance to business owners. This program supports businesses of all sizes including sole proprietors, independent contractors, self-employed individuals, and small business owners.
Here we will discuss the process of applying for an ERTC Claims Advance. We will cover the various requirements, the documentation needed, and how to submit the application:
- Documentation needed
- Submitting the application
In order to be eligible to apply for the ERTC Claims Advance, businesses must demonstrate eligibility under certain criteria as determined by the Small Business Lending source. Generally, eligible businesses must:
- Be an organized and existing business in the U.S.
- Have actively been in business prior to February 15, 2020
- Have 500 or fewer employees per physical location
- Have a demonstrable need for financial assistance due to COVID-19
- Be for profit or non profit 501(c)(3) organizations
In addition, applicants should expect to provide the following documents and information when submitting their application:
- Business tax ID number
- Business address
- Bank statement from the last six months prior to application submission date
- Documentation of the pandemic’s impact on your business
- Other documentation as requested (this may include payroll information, expenses and cash flow reports).
Businesses that are eligible for the ERTC Claims Advance may apply by submitting the following documents to their Small Business Lending Source partner:
- Financial statements, such as balance sheet and income statement, for the preceding tax year. For a newly started business, projections outlining estimated revenues and cash flow may be requested instead.
- Proof of ownership: Filing documents of a business entity or state-issued business license.
- Register of shareholders or partnership papers.
- Federal or state employer identification number (EIN).
- Evidence of unemployment insurance contribution deposits/payments made during the quarter when most recently reported wages were paid.
- Unredacted copies of all ERTC documentation from the Small Business Administration (SBA). This includes Form 941, copies of loan documents submitted to SBA and any other relevant documentation related to the filing with SBA.
- A one-page summary outlining your current hardship situation and the anticipated use for which you plan to utilize the funds from this loan advance product.
Applying for an ERTC Claims Advance is fairly straightforward and consists of three components: gathering required documentation, filing the application, and obtaining approval. For assistance in navigating the application process, contact your local Small Business Development Center or a qualified accountant.
Required Documentation: Before beginning the application process for an ERTC Claims Advance, make sure to gather all of the necessary records and evidence needed to submit a complete application. Companies applying must provide information such as prior year’s tax returns, financial statements (including balance sheet, income statement, cash flow statement), payroll reports and other forms of supporting documentation.
Filing the Application: Once all of the necessary documents have been gathered and reviewed carefully, it's time to submit the official application to receive a decision from SBA on whether or not they can provide relief through an ERTC Claim Advance. Applications should be filed online through designated portals used by the SBA such as Certify or Disaster Loan Assistance Loans Processing Centers (DLAPCs). If unfamiliar with these portals it is advised that you speak with your local SBDC for guidance on how to file accurately and efficiently.
Obtaining Approval: After submitting your claims advance application, you will receive approval/denial status within ten business days from when SBA receives your complete application packet with all required documents & information requested by lenders/SBA. If approved within those 10 days you will receive funds & if not approved almost immediately get reasoning for denial so that you can amend & reattempt filing again in a timely fashion.
After discussing the benefits and risks of partnering with a reputable firm to offer ERTC claims advance to business owners, it is clear that Small Business Lending Source is making the right decision. This partnership will enable Small Business Lending Source to expand its services to include ERTC claim advances, allowing more business owners to access the funds they need for their businesses. It also has the potential to bring more customers to the firm, further increasing their profits.
With its many benefits and low risk, this partnership is a win-win for both Small Business Lending Source and the reputable firm.
Summary of the partnership
Small Business Lending Source has just announced a new partnership with one of the top firms specializing in employer retention tax credit (ERTC) claims advances. The new partnership will best serve business owners who are looking to leverage ERTC opportunities to offset their Employee Retention Credit (ERC) liabilities.
The partnership agreement allows Small Business Lending Source, a reliable source and provider of small business loans in all fifty states, to offer high-quality ERTC claim advances to small businesses whose income has been impacted by the coronavirus pandemic. Small Business Lending Source can now provide capital upfront against the potential ERC claim in exchange for repayment after the secured loan has been advanced.
This new offering is an important addition for small business owners in need of short-term cash flow stabilization for critical operations and expenses throughout this difficult period of uncertainty. With this reliable funding method, businesses can keep their doors open and weather any short or medium-term disruptions caused by COVID-19.
Small Business Lending Source is committed to helping entrepreneurs succeed during periods of hardship. By making dependable access to financing more attainable, more businesses have the opportunity to leverage these ERTC advancements and carve out an alternative path towards sustained success despite uncertain economic conditions.
Encouragement to apply for the ERTC Claims Advance
Small business owners who have been negatively impacted by the global pandemic are encouraged to look into the opportunity of applying for an ERTC Claims Advance. This program was developed in partnership between a reputable financial firm and a well-known lending source, providing a unique combination of excellent customer service and competitive rates.
The goal is to provide financial peace of mind for businesses who need immediate access to funds and fast processing times. The lender will review applications quickly and have the proceeds available shortly after qualification and needed documents are provided.
Business owners who think they may qualify can get more information from their accountant or tax specialist, find their eligibility online, or contact our credit team with any questions they may have about the program. We strongly urge those who qualify to take advantage of this important opportunity to keep their business running smoothly and avoid further COVID-19 related economic hardship.