LOAN ASSISTANCE PROVISIONS -
Express Bridge Loan Pilot Program:
Unilateral pronouncement of the SBA-
• While not part of the CARES legislation, the SBA announced as a response to COVID19, small businesses that currently have a business relationship with an SBA Express Lender may access up to $25,000 with less paperwork. These loans may provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loan or used to bridge the gap while applying for a direct SBA Economic Injury Disaster Loan. If a small business has an urgent need for cash while waiting for a decision and disbursement an Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan...
Please see full Publication below for more information.