Credit Human is expanding our Paycheck Protection Program (PPP) to our manufactured housing (MH) business partners and members of the MH associations. The PPP is a Small Business Administration (SBA) loan that helps keep the employees of small businesses on the payroll during this pandemic.
With this loan program, all or a portion of the loan may be forgiven if you keep employees on the payroll for eight weeks. Other loan parameters include:
- Funds are to be used for payroll costs, interest on mortgages, rent, and utilities
- Borrow up to 2.5 times your average monthly payroll costs
- Loan payments deferred for six months
- No collateral or personal guarantees required
- 2-year term
- Interest rate of 1% APR
For additional information or to apply online, visit us at credithuman.com/PPP or email our Member Business Lending team at MemberBusinessLoans@CreditHuman.com. You may also speak to a loan originator by calling 866-280-1312.
All loans subject to approval by the SBA. Documentation is required to verify the loan amount requested. The term of the loan is 2 years with a six month deferment period. The loan will continue to accrue interest during deferment period. The loan program requires additional documentation to request loan forgiveness.
