UPDATED: May 19, 2020

Additional funding for SBA Paycheck Protection Program (PPP) loans has been approved by the federal government.

DreamSpring is currently accepting applications for businesses in the states of New Mexico, Colorado, Arizona, Texas, and Nevada. For businesses in all other states, we recommend you apply with our partner using the button below.

Applications will be processed on a first-come, first-served basis, and funding is expected to go quickly. To ensure we can evaluate your loan request in a timely manner, we encourage you to apply for funding immediately.

Here's how to navigate
the CARES Act

The federal government has recently enacted the Corona virus Aid, Relief, and Economic Security (CARES) Act and it contains many provisions that may provide vital assistance for your business.
Learn how to access the CARES Act programs. Take a free in-depth course here.

DreamSpring can help you

Details of both the Paycheck Protection Program and the Economic Injury Disaster Loan are listed below. We recommend familiarizing yourself with both and determining which option best meets your situation.
Step 1

Apply for Paycheck Protection Program loan

A forgivable loan only offered when federal funds are available. All business types are eligible, including sole proprietors / independent contractors. Start an application with DreamSpring up to $250,000 today.

APPLY NOW
Step 2

COVID-19 payment relief

If you have an active loan with DreamSpring and are not seeking additional funds at this time, you can request payment relief.

Request payment relief

Keep an eye on these programs

Paycheck Protection Program

This program was established as part of the CARES Act. A forgivable loan, from the Small Business Administration, only offered when federal funds are available. Under this program, we are authorized to lend up to $250,000.

  • Apply online through DreamSpring for up to $250,000
  • Check with your Bank or Credit Union to apply
  • Applications are administered by approved SBA 7a lenders
  • Can be fully forgiven if employers maintain their employees
  • Maximum amount you can request = 250% of average payroll
  • Keep track of how you use funds as you may be required to show documentation

Economic Injury Disaster Loan ( EIDL) program

This program was expanded as part of the CARES Act.

  • Apply online with SBA
  • Low interest loan, not forgivable
  • Can be used to pay fixed debts (ex. loan payments, etc.)
  • Cannot be used to payoff debt fully

Eligibility:

  • Businesses who can demonstrate economic impact from COVID-19 pandemic
  • Business owners with an ITIN are eligible

SBA express bridge loan pilot program

Applications are administered by approved SBA 7a lenders

  • Up to $25,000
  • Fast turnaround
  • Will be repaid in full or in part by proceeds from the EIDL loan
  • We do not yet know for sure if business owners with an ITIN are eligible