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SBA LOANS

Annie Kruise  | Published on 4/3/2020
  • SBA Disaster assistance application, eligible disaster areas, and application status
  • You are unable to apply if you have a credit line available from a bank.
  • Interest 3.75%.  Private non-profit can apply as well with interest at 2.75%.
  • Loan request of up to $2M
  • Loan term up to 30 years
  • One year deferment on payments.  Interest begins accruing upon disbursement.
  • Funds cannot be used for expansions or hiring.
  • May be more challenging to receive if you haven’t been open for 2 years.
  • Online applications or 1-800-659-2955.
  • Only $7 Billion available.  Deadline to apply is 12.21.20
  • If you already had a SBA loan and making payments, you can request forbearance.