SBA to Increase Lending Limit for COVID-19 EIDL Loans to $500,000!
Starting the week of April 6, 2021, the SBA is raising the loan limit for the COVID-19 EIDL program from a maximum loan amount of $150,000 to a maximum loan amount of $500,000.
Loan Terms: 30 years
Rate: 3.75% (2.75% for non-profit)
Up to $500,000
Payments are deferred for 18 months with NO Prepayment Penalties!
Can apply for as many businesses you own
Must have been in business prior to January 31st, 2020
Applicant cannot be a felon (within 5 years)
Applicant cannot have defaulted on any government loans in the past
Minimum Experian credit score of 600
Applicant cannot be more than 60 days late on child support
Proceeds must be used for working capital (payroll, overhead, etc.)
If this is your first time applying, contact us ASAP!
If you have already applied for the EIDL loan and have been turned down, please contact us. We may be able to turn that decline into an approval!
Covid funding extended until Dec 31st, 2021
The process takes about 4 weeks and most files approve without income documentation.
*The process takes anywhere from 2 days to 3 weeks to fund. Most files approve without income documentation.
**Proof of revenue is not required, as long as the SBA can verify the business on their end.
General Inquiry Form
Disclaimer: I am not a Certified Financial Advisor, U. S. Securities Dealer, Stock Broker or Investment Adviser. I am a business consultant and acting in the capacity of a financial intermediary who provides advice to private individuals on or about business matters. .Please understand that the contemplated transaction(s) is strictly private and in no way relates to the United States securities act of 1933 (THE”ACT”) and does not involve the sale of registered securities. This transaction(s) are private and exempt from the act.