Small Business Administration offers simplified processing for loans up to $500,000 to cover six months of lost gross profits.
As we all know, the COVID-19 pandemic is a crisis of unprecedented proportion and we feel the assistance by the federal government will be just as unprecedented. To help assist through this crisis, we are available.
As of now, the small business administration is offering a simplified processing for loans up to $500,000 to cover six months of lost gross profit margin. The loan will be a 30-year term at a fixed rate of 3.75%. There will be an 11 month deferral of payments. A more complicated analyses can bring the loan amount to $2 million.
While all of Alabama has not yet been declared a federal disaster area eligible for this assistance, we anticipate eligibility later today.
We are your partners through this and are here to help. Please contact us if you are in need of assistance completing your SBA loan application.
In this together,
The Partners of
Russell Thompson Butler & Houston, LLP