Paycheck Protection Program
The Paycheck Protection Program (PPP) was rolled out under the federal government’s CARES ACT on March 27th, 2021. What made this program unique and so helpful for small business owners is that PPP Loans were able to become grants. This means the small business did not have to pay back the proceeds given to them to fund payroll, employee health benefits, rent and utilities. Small business owners raced to participating lenders to apply to this program.
TMC Financing was a proud provider of PPP loans to small businesses in need.
Before the SBA closed the program on May 31, 2021, TMC Financing:
Administered 1,823 PPP loans
Provided $176,617,957 to small businesses in need, with an average loan amount of $96,883
99% of these loans have been forgiven.
Connect with our PPP Team