The U.S. Small Business Administration (SBA) has recently made significant changes to their small business loan programs to help level the playing field and boost access to credit for smaller businesses. Read below for more information about those changes and what you can expect.
The U.S. Small Business Administration (SBA) is providing additional measures to accommodate COVID Economic Injury Disaster Loan (EIDL) borrowers who are experiencing short-term financial difficulties. The program, known as the Hardship Accommodation Plan, allows eligible borrowers to make reduced loan payments for six months.
Federal relief programs for small businesses are slowly coming to an end, and with only a few months left in the year, we’ve put together a list of resources that may have already expired or are about to expire.
First, don’t despair. This situation is all too common for so many small businesses across America. Traditional lenders are often concerned with the risk involved in small business loans and unwilling to take a chance on a loan that might require seizing assets or foreclosing on property to recover the money.