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February 2021

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  • Changes to the SBA CARES Program

    Essentially, for new loans approved after February 1, 2021, the SBA will make 3 months of payments rather than 6 months.   They are still extending the payments for Hospitality industry  and specific SIC codes for an additional 5 months.  See below: New Loans Approved Beginning on February 1, 2021 and Ending on September 30, 2021: […]

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  • Biden Harris Administration Increases Lending to Small Businesses

    Institute a 14-day period, starting Wednesday, during which only businesses with fewer than 20 employees can apply for relief through the Program. Help sole proprietors, independent contractors, and self-employed individuals receive more financial support. These types of businesses, which include home repair contractors, beauticians, and small independent retailers, make up a significant majority of all […]

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  • Seller Note Refinancing Opportunity

    This might be the perfect time to pay off a seller note!! Currently the SBA is covering up to 6 months of SBA P&I Payments to eligible small business owners. ADDITIONALLY, the SBA is waiving the SBA Guaranty Fee on new loans approved between February 1st – September 30, 2021 to eligible borrowers until SBA […]

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