CT SBDC: Great SBA Loan Terms: An Opportunity for Your Business

Looking for short and long-term working capital? Looking to refinance current business debt? Need to purchase furniture, fixtures or supplies? The SBA is offering very favorable lending options for small businesses effective now through September 30, 2021. Join us for this walk-through of SBA loan enhancements to see if they can help you grow your business. -No SBA Guaranty Fees and Annual Guaranty Fees (normally between 2-3.50% depending on the loan amount – $150K or less to $1M-$5M). For example, an applicant would normally incur a $26,250 fee at closing based on a $1M funding request @ 75% SBA Guaranty. -SBA 7(a) Guaranty increased to 90%; with a maximum $3.75 million -Higher amounts available via SBA Express Loan Program (from $350,000 to $1,000,000) -SBA Express Loans of $350,000 or less have an increased guaranty from 50% to 75% -SBA loan payments approved and funded now to September 30, 2021 will have three (3) months of payment relief up to $9,000 per month; or when funds dedicated to this relief program have been exhausted.