New Stimulus Package Sba Loans

Enables small businesses who currently have a business relationship with an sba express lender to access up to 25 000 quickly.

New stimulus package sba loans. The stimulus package also gives the sba 50. That s a win for banks which had expressed concerns that the initial forgiveness process was too burdensome for small companies receiving little loans. Small businesses are encouraged to do their part to keep their employees customers and themselves healthy.

Health and government officials are working together to maintain the safety security and health of the american people. Reduced sba loan fees. Fortunately it contains some help for small business owners.

The new ppp aid which congress approved last month as part of its 900 billion covid stimulus program will provide forgivable loans of up to 10 million for pandemic wracked small and. Small businesses can also access larger amounts of funding through sba loans increasing the maximum you can borrow to 10 million in some cases. It s a giant last minute bill some 5 593 pdf pages long but fortunately you don t have to read the whole thing.

The new stimulus package is providing more than just emergency relief for small businesses. If your small business has been struggling because of the covid 19 pandemic here are some important ways the new relief package passed by congress may help. While the 900 billion legislation revives the paycheck protection program it also enhances key elements of the small business administration s traditional lending efforts.

The new stimulus bill ups the percentage of sba loans that the government agency guarantees which vary depending on the loan program. If your small business has been. The stimulus package is finally here with just days left in 2020.

Over the past nine months the sba has issued more loans than it did at any time its 68 year history.