Looking for investments (6 months of P&I paid by SBA for CARES Act)

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by an investor from Columbia University - Columbia Business School
in Jacksonville, FL, USA

5yrs ago

Looking for investments (6 months of P&I paid by SBA for CARES Act)

I am looking for investments in the near future and motivated searchers. I am also looking for a company so don't be surprised if you see another similarly-looking, handsome man posting under my alter ego. I was told I need one account for Search and one for Investing if I wanted to keep access to IBIS. Thanks and please reach out to redacted class="mx-1 rounded bg-gray-500 text-gray-500">redacted

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reply by a searcher 5yrs ago
from Columbia University in Jacksonville, FL, USA

It's 6 months:

Section 1112 of the CARES Act requires the Small Business Administration (SBA) to make payments on new and existing 7(a) loans for six months. These are not deferments. They are full payments of principal and interest that the borrower will never be responsible for again.

reply by a lender 5yrs ago
from University of Missouri in St. Louis, MO, USA

You are both right. The SBA did approve six months but William is correct in that they didn't fund it properly. So the guidance they are giving us is that they will pay 3 months ($9k per month max) and will increase if there are funds available. There are some industries that are getting additional months so talking to your banker to determine the amount would be the route to go.