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    SBA Disaster Loan Application Assistance

    Posted by Alan Greenwell on Mar 25, 2020 11:21:58 AM

    SBA Disaster Loan Application Assistance

    Brixey & Meyer has created a dedicated team to help business owners file for the Small Business Administration (SBA) disaster relief loans in response to the COVID-19 pandemic. It is designed to assist small businesses suffering substantial economic injury, providing you with low interest working capital.

    The SBA loan process can be complicated. Three of the top challenges:

    1. Applications cannot be amended once you submit
    2. Incomplete applications are being rejected and delaying the ability to receive approval
    3. Current processing time is 2-3 weeks for approval only; but we expect that to increase as more small businesses apply

    The loan process can be complicated and our B&M team is here to help you submit your loan documentation right the first time. This disaster relief program could be critical to getting your business back on track. The government has set aside $50 billion in federal funding to aid small businesses across the nation. Basic loan details: 

    • $2 million loan maximum
    • Up to 30-year amortization
    • Low annual interest rate of 3.75% for small businesses and 2.75% for private non-profit organizations
    • No prepayment penalties
    • Loans will be underwritten by the SBA vs the traditional bank underwriter
    • Current processing & evaluation for approved loans is approximately 21 days

     

    HOW TO GET STARTED:

     

    We are are ready and able to assist you during this unprecedented time. If we can be of further assistance to you or your business, contact us here.

    Topics: ohio, workplace productivity, Management, 2020, Workplace Culture, Coronavirus, Stay at Home Order, SBA Disaster, COVID-19, Loan, SBA, Small Business Administration, Small Businesses

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