PPP Disclosure: Buffalo Business Funder (a subsidiary of Premium Merchant Funding, hereinafter referred to as “BFB”) is committed to helping small businesses navigate the new Small Business Administration (SBA) Paycheck Protection Program. The program provides small businesses with funds to pay up to 24 weeks of payroll costs, including benefits. Funds can also be used to pay interest on mortgages, rent and costs for utilities, as more fully explained in SBA materials. This program is provided through BFB , as well as other financial institutions, but it is an SBA program and, accordingly, the requirements and availability of loans under the program are primarily driven by the SBA. Any loan made under the SBA’s Paycheck Protection Program must be submitted to and approved by the SBA. There is limited funding available and so all applications submitted will not be approved and funded by the SBA. BFB is participating in the Paycheck Protection Program to help businesses impacted by the economic impact from COVID 19.

However BFB anticipates high volume and there may be processing delays and system failures along with other issues that interfere BFB taking your application or submission of any application to SBA.  BFB does not represent or guarantee that it will take your application or submit any applications taken before SBA funding is no longer available or at all. By using BFB  to seek a Paycheck Protection Program loan, you agree that BFB  is not responsible or liable to you (i) if your application is not taken by  BFB  or any application is not submitted to the SBA until after SBA stops approving applications, for any reason or (ii) if your inquiry or any application is not processed. You also forever release and waive any claims against BFB concerning failure to obtain a loan. This release and waiver applies to but is not limited to any claims concerning BFB  (i) pace, manner or systems for processing or prioritizing your inquiry or any resulting applications, or (ii) representations by BFB regarding the application process, the Paycheck Protection Program, or availability of funding. This release and waiver supersedes any prior communication, understanding or agreement on the issues set forth herein. Please be prepared to provide your average monthly payroll as defined by the SBA and upload proof of payroll information, e.g., 2019 W-3, 2019 IRS Quarterly 940, 941 or 944 payroll tax reports, 2019 Personal Tax Returns and Business Tax Returns. As a BFB  client, you can apply using this digital application, only if you meet these criteria: Your business is not a governmental entity.

You’re authorized to borrow on behalf of the business. Your business hasn’t applied for a loan under the Paycheck Protection Program with BFB or from another financial institution. The minimum loan amount is $1,000, and the maximum amount is determined by your average monthly payroll and cannot exceed $10 million. The maximum amount may be reduced based on loans to your affiliated companies. You won’t have to make payments on the loan for 6 months from the date of the Note. The loan may be eligible for forgiveness, but only amounts meeting SBA criteria: Forgiveness isn’t automatic. You may request forgiveness of some or all of the principal balance of the loan. Forgiveness is only available if you use the funds for certain purposes and if requested within the timelines established by the SBA. If you request forgiveness, you must provide documentation, and must certify that the loan funds were used for SBA qualifying purposes. The amount forgiven may be subject to certain reductions in certain circumstances; for example, if you have certain reductions in number of employees or employee compensation. The borrower will be responsible under the loan for any amounts not forgiven, and will become payable with monthly payments of principal and interest. The SBA may limit the time frame by which you’ll need to ask for forgiveness. You also authorize BFB to contact you via text message, email or phone call.