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SBA records as of Wednesday show that 1,272 applicants applied for EIDL loans, with 341 approved for a combined total of more than $38.7 million. ... SBA disaster loan repayment begins 12 months ...
Beginning April 6, 2021, the U.S. Small Business Administration (SBA) is expanding its Economic Injury and Disaster Loan (EIDL) program, the organization announced in a press release. Small ...
Economic Injury Disaster Loans (EIDL) ... Cannot exceed SBA set maximum. Repayment terms. 5 to 10 years for working capital loans, 25 years for real estate loans. Down payment. 10%.
The SBA was created on July 30, 1953, by Republican President Eisenhower with the signing of the Small Business Act, currently codified at 15 U.S.C. ch. 14A.The Small Business Act was originally enacted as the "Small Business Act of 1953" in Title II (67 Stat. 232) of Pub. L. 83–163 (ch. 282, 67 Stat. 230, July 30, 1953); The "Reconstruction Finance Corporation Liquidation Act" was Title I ...
SBA loans allow borrowers to avoid predatory bridge loans or using a credit card with high interest rates. Provided Congress makes funds available, SBA can make disaster loans up to $500,000 to ...
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President Trump signs the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), April 24, 2020. The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self ...
An NPR analysis of SBA data released in January found that 92% of PPP loans were granted full or partial forgiveness. Some businesses with rich owners were among those that got off the hook.