CARES (Coronavirus Aid, Relief, and Economic Security) Act:

The second round of the CARES Act was signed on April 24, 2020 by the president and applications will open on April 27, 2020. Click on the link for more details: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program#section-header-0

Topic: TBD

Date: TBD

Time: TBD 

Register in Advance to Zoom Meeting:

N/A

Fees: TBD 

Details: The Coronavirus Aid, Relief, and Economic Security Act in the Senate (the “CARES Act”) Paycheck Protection Program (PPP) increases the maximum SBA’s 7(a) loan amount to $10 million and expands allowable uses of 7(a) loans to include payroll support (including paid sick or medical leave), employee salaries, mortgage payments, insurance premiums and any other debt obligations.

Please note that all SBA relief funding programs are not the same, nor may they be used for the same purpose. Borrowers should evaluate all programs and choose accordingly.

 

  • $100,000 to $10,000,000

  • Most Businesses Eligible

  • No Collateral Required

  • No Personal Guarantee

  • No Credit Score Minimum

  • 100% SBA Guarantee

  • 1% Interest Rate

  • Loan Maturity of 2 Years

  • For-Profits & Non-Profits

  • No Fees Paid by Borrower

  • 6 Month Payment Deferral

  • Businesses Must be Open as of 2/15/20

 

 

 

 

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Florida Licensed Mortgage Brokerage| NMLS # 1787779

No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines by the lenders we work with, and are subject to change without notice based on applicant’s eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the life of a loan. Reduction in payments may reflect a longer loan term. For more information please review our Terms and Use, or call to speak with one of our license mortgage concierges.