Covid Relief Loans For Self Employed. Providing capital to the california rebuilding fund to support small business loans; The cares act also earmarked $17 billion to cover up to six months of payments on existing 7(a.
If the economy becomes worse, you may be offered additional relief down the road. If you already have an sba loan, you may be eligible for relief. Tax relief, including deferrals and credits;
Claim a grant if you’ve lost income.
Loans will be based on 2019 operating expenses and won’t exceed $10 million, with a. Aprs range from 2.99% to 46.96% and will depend on our partner's assessment of your credit profile. If the economy returns to normal and you don’t need the loan anymore, you can repay the loan without any prepayment penalty. For example, on a $500 loan paid monthly over 9 months, a person will pay $81.15 per month for a total of $730.35 over the course of the entire loan period.