How to Navigate the New SBA Disaster Loans

 How to Navigate the New SBA Disaster Loans

As of the time of this writing, Sunday afternoon, the SBA has not formalized the application process for the new “Paycheck Protection Program” or “PPP”, the program that got signed into law Friday as part of the $2 Trillion CARES Act. At the moment, we are all waiting for guidance. Once I get clarity on that, I will likely fill you in with another update. Businesses CAN apply right now for the Economic Injury Disaster Loan…it is an application you can file on line direct with the SBA and do not need another lender involved….go to https://www.sba.gov/funding-programs/disaster-assistance to apply.
Here is a link with a helpful run down on the SBA assistance loans that are currently available:
And another link to help you understand what you qualify for
Keep in mind, that there is a HUGE demand for all of these products as most businesses are affected in some way over this virus. So there is going to be delays at SBA and especially with the banks and lenders who will be called on to administer the new PPP Loans. So be patient.
 
But Karen, I am looking to buy a business or a building for my business and I don’t want lender delays! Or Karen, we are doing well right now and want to get money to expand-we need to move quickly!
I hear you, and the new SBA loans are ONLY for people who are affected negatively by the Coronavirus. Expanding or purchasing new businesses will not be eligible, but the lenders are swamped already with requests to defer payments and are about to get swamped with applications…It is going to be bad.

SO I AM ROLLING OUT A NEW FAST TRACK SBA 7A APPROVAL PROCESS WITH LENDER APPROVAL GUARANTEED WITHIN A WEEK! I have made arrangements with my favorite SBA 7A lender to fast track loans for expansion, business acquisition or property acquisition and to give me lightning quick approvals. I provide these loans with no points, just a small refundable app fee. If you or someone you know is looking to buy a business or building or expand an existing business that has not been negatively impacted by the virus, give me a call today at 512-354-5949 today or get started by filling out this form!    

Karen Schimpf
Commercial Capital, LTD
(512) 354-5949
karenschimpf at gmail.com
Give me a CALL TODAY at 512-354-5949 or get started by filling out this form! 

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