Business Loans

Paycheck Protection Program Loan Information

More funding has been approved for this program and the SBA is now accepting applications until funding runs out. To learn more and to apply please read the FAQs or contact Marc Tatarcuk, Director of Business Development.
Cell: (517) 375-4541
email mtatarcuk@mycvf.org
or complete the contact form on this page below

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. You can apply through Catholic Vantage Financial.

For affiliation rules applicable for the Paycheck Protection Program, click here.

The Interim Final Rule for Applicable Affiliation Rules for the Paycheck Protection Program as posted in the Federal Register.

Frequently Asked Questions for Faith-Based Organizations Participating in the Paycheck Protection Program and Economic Injury Disaster Loan Program

PPP-SBA

Frequently Asked Questions

Who Can Apply

Who Can Apply

The following entities affected by Coronavirus (COVID-19) may be eligible:

  • Any small business concern that meets SBA’s size standards (either the industry based sized standard or the alternative size standard)
  • Any business, 501(c)(3) non-profit organization, 501(c)(19) veterans organization, or Tribal business concern (sec. 31(b)(2)(C) of the Small Business Act) with the greater of:
  • 500 employees, or

That meets the SBA industry size standard if more than 500

Any business with a NAICS Code that begins with 72 (Accommodations and Food Services) that has more than one physical location and employs less than 500 per location

  • Sole proprietors, independent contractors, and self-employed persons
  • Loan Details and Forgiveness
  • The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.
  • Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels.  Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.
  • This loan has a maturity of 2 years and an interest rate of 1%.
  • If you wish to begin preparing your application, you can download a copy of the PPP borrower application form to see the information that will be requested from you when you apply with a lender.

Loan Details and Forgiveness

Loan Details and Forgiveness

The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.

Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels.  Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.

This loan has a maturity of 2 years and an interest rate of 1%.

If you wish to begin preparing your application, you can download a copy of the PPP borrower application form to see the information that will be requested from you when you apply with a lender.

To talk with someone about business accounts and business loans,  please contact Marc Tatarcuk, Director of Business Development, Cell: (517) 375-4541 / email mtatarcuk@mycvf.org or complete the contact form on this page.

Business Lending

Serving the Business Community

Catholic Vantage Financial has expanded it’s service across most of the state of Michigan, offering solutions to business to help them grow and succeed. We understand that each business has its own identity, with unique needs that could change over time and that’s why we stay with you, every step of the way.

We are positioned to finance what you need to help your business grow by offering the following business loans:

Business Loans
Commercial Real Estate
Equipment
Machinery
Building Purchase
Improvements
Acquisitions
Refinance Existing Business Loans

Application Process

*Print and fill out a Business Loan Application
*Print and fill out a Personal Financial Statement
*Stop by our office or call us to set up an appointment at (734) 432-0212

For more information call 

Marc Tatarcuk, Director of Business Development

Office: (734) 432-0212 Cell: (517) 375-4541

Fax: (734) 737-0365 NMLS # 1086535

or email mtatarcuk@mycvf.org

We are positioned to finance what you
need to help your business grow.




How can we help you: