SBA Extends Crucial Lifeline to Borrowers Impacted by COVID-19 with Debt Relief

As the U.S. Small Business Administration continues implementation of the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act, signed into law by President Trump on Dec. 27, 2020, SBA Administrator Jovita Carranza made the following statement in regards to Section 325: “The new law extends SBA debt relief authority, allowing the Administration to continue alleviating adverse economic effects of COVID-19 for small businesses with SBA loans. Since April last year, the SBA has made over $7.1 billion in payments across 1,819,130 loans on behalf of these borrowers. It’s important to note that these firms were also initially able to access capital because of the SBA federal guarantee.” Click the link to read the entire story…

https://www.sba.gov/article/2021/jan/10/sba-extends-crucial-lifeline-borrowers-impacted-covid-19-debt-relief