If you are looking to acquire a new business, expand your current business, refinance debt or in need of working capital loans, hurry up and get those deals in while you still can to take advantage of the six months of SBA payment relief! To qualify, the deal has to CLOSE by 9/27/20. For term loans, the SBA will make the first six months of P&I payments on the loan. For lines of credit, the SBA will make six months of interest payments. This is not a deferment or money that needs to be repaid; these payments are essentially a gift from the SBA. To meet that deadline, we have to make sure we have the deals into underwriting by early August at the latest (about three more weeks) to make sure we leave enough time for underwriting, appraisals, evaluations, etc. All types of deals/ industries qualify for the program as long as it is approved under either a 7a or 504 structure.
PAC is eager to help you secure this financing.
Please contact PAC today for all your financing needs!