Small Business Loan Opportunities through the CARES Act

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by a professional from University of Minnesota - Twin Cities Campus
in Minneapolis, MN, USA

6yrs ago

Small Business Loan Opportunities through the CARES Act

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Contact me with questions at redacted

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reply by a professional 6yrs ago
from St. John's University in Minneapolis, MN, USA

Bob you are correct. They are processing applications that were already in queue on a FIFO method. Typical with most government programs resulting from the CARES Act, they will provide further information on availability of the EIDL portal to receive new applications as soon as possible (I would not hold my breath)

reply by a searcher 6yrs ago
from Fairfield University in Connecticut, USA

Ryan- How do you think SBA will respond to other loans apps (i.e. 7a for acquisitions) through May and June give the weight of the CARES Act? It sounds like you need approval by the end of June and Funding by the end of September to qualify for 6 month P & I by the SBA. Is that correct or is that just for existing loans?