As part of the coronavirus debt relief under the CARES Act, the Small Business Administration will pay 6 months of principal, interest, and any associated fees that borrowers owe for new SBA business loans disbursed prior to September 27, 2020.
The relief is available for new 7(a), 504, and Microloans that are fully disbursed prior to September 27, 2020.
The SBA will begin making payments with the first payment due on the loan and will make six monthly payments.
There is no need to establish eligibility as this relief is automatic for all loans that meet the above requirements.
Click HERE to learn more including get specific feedback from an SBA expert on whether you might be eligible.