TimePayment is here to help your business survive this unprecedented time. 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.
The Bottom Line
We’re all in this together, and TimePayment is here to help you succeed as a business. We are continuing to accept new credit requests and remain actively funding businesses across the country. We trust that you understand new applications are being considered more carefully than ever while we evaluate COVID-19’s impact on the industries we support.
- We are open and still funding in select industries.
- We are manually reviewing all applications to ensure the business’s continuity plan.
- We have suspended the pre-funding of new lease fundings.
- We have limited support of credits that score in the Q & U range.
If you are a current TimePayment customer, Log-In to InfoHub or Contact Vendor Services to address questions specific to your industry.
We know that your customer’s business is suffering and that yours may be as well. You may qualify for many of the same relief programs our team has identified for your customers. You should evaluate the 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
- All 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
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. We are continually working to update this page with the best information available so please check back often for changes.
- Find the information you need about your state’s programs.
- We will continually update these links as programs change and become available.
- Connect directly with your state and local funding programs.
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.
