DALLAS (WBAP/KLIF)- Small business owners impacted by the Covid-19 pandemic now have until December 31st 2021 to apply for a loan.
The U.S. Small Business Administration extended the deadline as a result of the recent bipartisan Covid-19 Relief Bill passed by Congress and enacted by President Trump
To date, the SBA has approved $197 billion in low-interest loans, which provide working capital funds to small businesses, nonprofits and agricultural businesses. Loan applications will continue to be accepted through December 2021, pending the availability of funds. Loans are offered at very affordable terms, with a 3.75% interest rate for small businesses and 2.75% interest rate for nonprofit organizations, a 30-year maturity and an automatic deferment of one year before monthly payments begin.
