What You Probably Don’t Know About the CARES Act


CARES Act

Welcome to HGC’s brand new website and blog! Normally, we’d like our first post to be an introduction to the company’s mission and history, but today we’ve got some time sensitive info to share about the current CARES Act.

Not many folks seem to be talking about this provision the CARES Act offers small businesses. It actually stipulates that the SBA will cover up to six months of your existing SBA loan payments, as well as any new SBA loan originating between March 27, 2020 and September 27, 2020. Yes, you read that right! Your payments will be covered, not simply deferred. One more time for emphasis: The SBA is making your payments for you. 

Read this article from the National Law Review to learn more, talk to your SBA lender, or contact Harvard Grace Corporation at stewart.heath@harvardgrace.com.

https://www.natlawreview.com/article/existing-sba-loans-sba-will-make-your-payments-six-monthsNational Law Review

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