Integrity Capital
 

SBA Financing Relief Help!!!

March 30th, 2020 2:06pm

The goal here is to keep this simple and get you straight to where you need to go. We hope this will be a real help for you.....

EXISTING LOAN: If you have a loan with a bank, do these steps:
1. Contact them directly and ask for 3 months deferral options
2. Follow their instructions expediently
NEED CAPITAL: If you need capital for your business, do the following:
• Go to www.sba.gov/disaster and apply for a loan
o Call 800-659-2955 or email disastercustomerservice@sba.gov to continue to follow up.
• General capital resources through SBA click here Corona SBA Resources
• CARES Act Help click here CARES Act Information
• Click here: CARE Act Guide
EMPLOYEE HELP: If you need help in dealing with employees, please do the following:
• Go to this for tax credits Tax Credit Help
• If you need more advice watch this video Confidence for Uncertain Times
• Preparation for internal virus outbreak CDC Outbreak
ADDITIONAL TIPS: Any additional tips, please do this:
• Watch video “Confidence for Uncertain Times” above
• Read this article Battle Plan for Small Businesses
CHURCH/NON PROFIT HELP: Need relief for your Church do this:
• Watch video CARE Act
• Here for church resources Church Resources

Disaster Relief Questions/Answers:

Who is eligible?
• Any small business affected by this disaster.
• Generally right now, not churches
• New businesses
What is the criteria?
• Need a credit score; not tied to your score
• Fill out all the application paperwork
• Case manager will be assigned and talk with you
How much can I get?
• Up to 2 million per business
• Rate is 3.75% fixed for 30 years for for profit businesses
• Rate is 2.75% fixed for 30 years for non profit businesses
• The amount is based on 6 months worth of loss
• You get 1 year of deferment on the payments

What if I have multiple businesses?
• You would have to put in multiple applications for each business
• If it is only you owning 100% of both business, you only have to do 1 application
What can I use it for?
• Payroll, accounts payable and any business operation expenses
• Not loss of sales or profits or LT debts
Is collateral needed?
• Yes for anything over $25,000 they will take collateral
• You will have to sign a personal guaranty
Is there a cost to apply?
• Nothing
Do I have to take the loan if it is offered?
• No
What is the timeline?
• 3 to 5 days to get a case manager
• 3 weeks to fund







Call with any questions to David Kotter at dave.kotter@integrity-capital.com or 480-219-1205

 

Location: News >> SBA Financing Relief Help!!!

 
 
 

We Have Closed Over $700,000,000 In Loans To Date


Hot Money Updates - Enter your email for free monthly updates on commercial financing.

 

As Seen In:

Integrity Capital As Seen In Logos

Email Us




© 2020 Integrity Capital, LLC. | Privacy | CMB #0919680


Return to Top