fbpx Skip to main content

BioCommunique Article

Biocom Members Now Have Access to Divvy’s SBA PPP Streamlined Application Process

Biocom Members Now Have Access to Divvy’s SBA PPP Streamlined Application Process

  • 2020-04-15T19:00:00.000+0000
  • California
  • Author: Heather Ramsay

Receive up to $10M through the SBA Paycheck Protection Program

By now, we’re sure that you’re familiar with the Coronavirus Aid, Relief and Economic Security (CARES) Act, and the fact that small businesses have the potential to apply for relief loans in the midst of the pandemic and economic downturn.

I know you count on the Biocom Purchasing Group to act as a best-in-class clearing house for the industry and we do not take that responsibility lightly. We have been investigating valuable options for our members on this front since the CARES Act was passed, and we are thrilled to announce that we have found a great partner to help you apply for loans easily, effectively, and efficiently.

Divvy, the #1 corporate expense management platform in the market, is providing Biocom members an easy way to submit loan applications for these stimulus packages. As a member, you will experience a streamlined application process, and you will be first in line to receive up to 2.5 months of payroll coverage.

We are eager to connect with you to help you in this process. You can reach out to our team to find out more information on this program, or visit Biocom's dedicated sign-up form here.

What can you use the PPP loan funds for?

  • Payroll costs, including benefits
  • Interest on mortgage obligations, incurred before February 15, 2020
  • Rent, under lease agreements in force before February 15, 2020
  • Utilities, for which service began before February 15, 2020

For a complete breakdown of PPP loans, please visit the U.S. Department of the Treasury site here.