Currently, the SBA Disaster Assistance in Response to the Coronavirus has established a program for business owners to help them with fixed debts, payroll, accounts payable and other bills that businesses are having trouble with because of the disaster’s impact.
The SBA is offering:
• An interest rate is 3.75% for small businesses
• An interest rate for non-profits is 2.75%
• A one-year repayment deferment
• Long-term repayments in order to keep payments affordable, up to a maximum of 30 years. (Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay)
• You must have a complete package submitted before they will begin the process of your loan request.
• The loans could take up to 16 weeks from the time of submission to fund
Call today if you would like help or if you have any questions. (516) 268-0350