Paycheck Protection Program

Paycheck Protection Program

Kingswood can help you get 2.5x your monthly payroll (up to $10M) as a forgivable loan through our funding partners. Funds are limited so apply today.

What is the Paycheck Protection Program?

The Paycheck Protection Program is a specific type of federally guaranteed loan intended to keep America’s businesses going during the temporary turmoil of the global pandemic. The SBA will empower businesses to borrow money based on the average cost of their monthly payroll. The money can be used for payroll costs, employee benefits, insurance premiums, mortgage interest, rent, utilities and more.
Red umbrella in storm

Paycheck Protection Program Highlights

The PPP can be 100% forgivable

Get 2.5x monthly payroll (10wks), up to $10MM

Use it for payroll & other bills like rent & utilities

Businesses of 500 or fewer staff are eligible

No personal guarantee or collateral needed

How Does the Paycheck Protection Program Work?

STEP 1

APPLY

STEP 2

APPLICATION PROCESSES

  • Your application will be reviewed to determine the maximum amount you are eligible to receive
  • Our goal is to arrive at a decision ASAP, but due to the high volume of applications, expect longer than normal processing times
  • Note: Kingswood can only approve amounts up to $10 million

STEP 3

FUNDS DISBURSED

  • We will reach out to let you know what amount you have been approved for and next steps
  • After closing, you can expect to receive your funds within 10 days
  • Submit your ACH banking information to have the funds deposited directly into your account

Who is Eligible?

  • Business must have been in operation as of February 15th, 2020.
  • Businesses must have paid salaries and payroll taxes or paid independent contractors.
  • Sole-proprietors, independent contractors, and other self-employed individuals are eligible.
  • Businesses with no more than 500 employees.
  • 501(c)(3) nonprofit, a 501(c)(19) veteran’s organization, or Tribal business described in section 31(b)(2)(C) of the Small Business Act with 500 or fewer employees are also eligible.
  • The program waives affiliation rules for businesses in the hospitality and restaurant industries, franchises that are approved on the SBA’s Franchise Directory, and small businesses that receive financing through Small Business Investment Company (SBIC).

Small Business Administration Disaster Loans

COVID-19 Relief Programs

Helping Our Customers, Now More Than Ever

Kingswood is here to help your business survive this unprecedented time. Our team has identified 4 types of programs that most affected businesses will qualify for. Your company should evaluate all four areas below:

Paycheck Protection Program

  • 100% Forgiveness available
  • Get 2.5x your monthly payroll (10 wks), up to $10MM
  • Use it for payroll and other bills like rent and utilities
  • Small businesses with 500 or fewer employees are eligible
  • No personal guarantee or collateral needed

Economic Injury Disaster Loan and Advance

  • Apply through the Small Business Administration website
  • Business owners economically impacted by the pandemic can apply for and receive working capital loans of up to $2 million
  • Terms up to 30 years
  • Term loans or lines of credit
  • Uses: To overcome the temporary loss of revenue
  • Applicants can request a $10,000 advance after with application

State & Local Relief Programs

States, localities, and communities of people have stepped up alongside our federal government to offer relief where they know the need is great. Grants and special term loans from $1,000 up to $200,000 are available to keep business owners going – until they can start growing again.

  • Find the information you need about your state’s programs.
  • Connect directly with your state and local funding programs.
  • We are continually working to update this page with the best information available so please check back often for changes.

Additional Aid Programs

The federal government has additional relief programs that can help business owners get through the economic impact of the global pandemic. Learn what is available and make sure your recovery plan has every benefit you can qualify for:

IRS Tax Extension for special payment relief: The Treasury Department and IRS are providing special tax filing and payment relief to individuals and businesses in response to the COVID-19 Outbreak.

SBA Express Bridge Loans: Businesses who currently have a business relationship with an SBA Express Lender are able to access up to $25,000 quickly.

SBA Debt Relief: The SBA is providing financial reprieve to small businesses during the COVID-19 pandemic by paying principal, interest, and fees on some business debt.

We're In This Together

We’re all in this together, and Kingswood is here to help you succeed as a business. We are here to help you work through today’s challenges and access the funding you need to help you get through and move forward.

If you are a current Kingswood customer, speak with a team member to learn more about assistance programs you may qualify for.

Call 888-327-8121 or email info@kingswoodleasing.com

We extend our fullest well wishes for the health and safety of you, your employees, and your family.

Information for Kingswood Equipment Sellers and Referrers Regarding COVID-19

Information for Kingswood Equipment Sellers and Referrers Regarding COVID-19

Is Kingswood open?

Kingswood’s offices are open (8am-8pm EST). All services are functioning as usual, however we are transitioning to a “work–at–home” operating model as part of our broader business continuity plans. Because the situation is dynamic, we will be adapting our plans each day while also planning for longer term implications.

What happens if Kingswood’s offices close?

We have the ability to work remotely from locations across the country, such that our day–to–day operations won’t be affected.

Where can we find the latest information?

Kingswood will update our website, KingswoodLeasing.com, your Partner Portals and will be sending out informational emails if there are changes you need to know. You should always be able to reach your account manager and you can email us at Sales@KingswoodLeasing.com or Info@KingswoodLeasing.com.

How is Kingswood settling with Sellers and Referrers?

We are settling transactions the way we always do; however, in the event our office closes there may be a delay in receiving physical checks from us due to closures or postal service delays. To avoid any interruption, we strongly recommend that you sign up for ACH disbursement. The form can be filled out and submitted online by clicking the link below:

ACH Direct Deposit Enrollment Form: Click Here

Will COVID-19 change who gets approved?

No, but all leasing and lending companies consistently reassess certain underwriting policies and practices to fully consider the current business and economic environment. It’s likely that some changes will be made for some industries. If we see changes, these will be promptly communicated.

Remember everyone at Kingswood is here to help you and your customers succeed. Let us know how we can help!