Description
SBA TO INCREASE LENDING LIMIT FOR
!
STARTING THE WEEK OF APRIL 6, 2021, THE SBA IS RAISING THE LOAN LIMIT FOR THE COVID-19 EIDL PROGRAM FROM A MAXIMUM LOAN AMOUNT OF $150,000 TO A MAXIMUM LOAN AMOUNT OF $500,000.
if this is your first time applying, contact us asap!
if you have already received the eidl loan and would like to see if you qualify for more, contact us asap!
highlights:
loan terms: 30 years
rate: 3.75% (2.75% for non-profit)
up to $500,000
PAYMENTS ARE DEFERRED FOR 12 months with no prepayment penalties!
can apply for as many businesses you own.
REQUIREMENTS:
;;;;MUST HAVE BEEN IN BUSINESS PRIOR TO JANUARY 31ST, 2020.
;;;APPLICANT CANNOT BE A FELON (WITHIN 5 YEARS).
;;;APPLICANT CANNOT HAVE DEFAULTED ON ANY GOVERNMENT LOANS IN THE PAST.
;;;APPLICANT CANNOT BE MORE THAN 60 DAYS LATE ON CHILD SUPPORT.
;;;MINIMUM EXPERIAN CREDIT SCORE OF 600.
proceeds must be used for working capital (payroll, overhead, etc.).
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