What The SBA Wants you to know about COVID-19 relief loans
On behalf of the team at Viking, we recognize business owners are asking a lot of questions regarding sustaining business and cash flows in light of the Coronavirus pandemic. We want to be a resource to provide relevant and timely information from our team to you.
Thanks to the recently passed largest government stimulus package in history, the SBA is providing direction on lending options for business owners.
To our clients: We feel that it is important to share the following with you during this time. SBA Administrator Jovita Carranza issued the following statement in response to the President’s address to the nation:
“The President took bold, decisive action to make our 30 million small businesses more resilient to Coronavirus-related economic disruptions. Small businesses are vital economic engines in every community and state, and they have helped make our economy the strongest in the world. Our Agency will work directly with state Governors to provide targeted, low-interest disaster recovery loans to small businesses that have been severely impacted by the situation. Additionally, the SBA continues to assist small businesses with counseling and navigating their own preparedness plans through our network of 68 District Offices and numerous Resource Partners located around the country. The SBA will continue to provide every small business with the most effective and customer-focused response possible during these times of uncertainty.”
*At this time the SBA and the government have been updating the rules and requirements on a weekly basis. This is a fluid process so we recommend you check with your lender and SBA website for most up to date information.
Got more questions? Contact Viking Mergers now and a member of our team will assist you.