PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Amisight: Benefits of Obtaining an SBA 7a Loan Now

By at 6 January, 2021, 10:58 am

By Ami Kassar, CEO of Multifunding LLC and Author of the Growth Dilemma –

As part of the new Covid Relief Act, there are tremendous benefits for new SBA borrowers.  These benefits will run out on September 30, 2021, or sooner if funding runs out.  As part of the benefits, borrowers will receive a waiver of all guarantee fees. You can also get up to $9,000 a month of principal and interest reduction for the first six months of the loan. This benefit is not taxable.

Some of the uses for SBA loans include: starting a business, buying a business, buying out a partner, consolidating debt, expansion capital, or purchasing your owner occupied building.

I will be offering an Aminar on Thursday to unpack the SBA program.  You can register here.  We have also put together a small infographic to help you visualize some of the savings opportunities.

Ami in partnership with Inc. provides daily updates on access to capital and business growth issues, and is closely monitoring and providing guidance on the latest changes to PPP loans and CARES Act lending programs. You can sign up for the “Amisight” daily updates here. Ami also conducts daily “Aminars,” the topics of which are highlighted in his morning daily updates.

 

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