The SBA has directed lenders to advise SBA loan borrowers that they are eligible for debt-relief assistance under the CARES Act. Borrowers in the 7(a), 504 loan or Microloan program are eligible under the following guidelines: For a 7(a) loan, 504 loan or Microloan approved on or before … [Read more...] about 1.31.21: SBA TO PROVIDE DEBT RELIEF TO BORROWERS WITH SBA LOANS
Archives for January 2021
1.25.21: THE SBA INCREASES LENDER GUARANY TO 90% FROM 75% THROUGH SEPTEMBER 30, 2021
On January 28, the SBA announced modifications to 7(a) Loan Program Guaranty percentages to increase the guaranty to 90%. Effective December 27, 2020, and through September 30, 2021, SBA participation (i.e., the guaranty percentage provided by the SBA) is increased to 90%. (See 2. below on Guaranty … [Read more...] about 1.25.21: THE SBA INCREASES LENDER GUARANY TO 90% FROM 75% THROUGH SEPTEMBER 30, 2021
1.13.21: PPP SECOND DRAW LOAN APPLICATIONS ACCEPTED STARTING JANUARY 13
The SBA is accepting Second Draw Paycheck Protection (PPP) loan applications beginning January 13 through select community bank lenders. ValueXpress will be processing Second Draw PPP loan applications immediately for clients through its participating community bank partner, Peoples Bank. Second … [Read more...] about 1.13.21: PPP SECOND DRAW LOAN APPLICATIONS ACCEPTED STARTING JANUARY 13
VALUEXPRESS OBTAINS $3,425,000 SBA 7(a) COMMITMENT TO PAY OFF A CMBS CONDUIT LOAN FOR A DAYS INN HOTEL IN LAREDO, TX
ValueXpress has arranged a $3,425,000 SBA 7(a) loan commitment for the refinance of the Days Inn – Laredo, a 2-story, 126-room interior-corridor property that was purchased and gut-renovated by the sponsors in 2011. The property offers an outdoor pool, exercise room, outdoor barbeque and picnic … [Read more...] about VALUEXPRESS OBTAINS $3,425,000 SBA 7(a) COMMITMENT TO PAY OFF A CMBS CONDUIT LOAN FOR A DAYS INN HOTEL IN LAREDO, TX
1.11.21: PPP FIRST DRAW LOAN APPLICATIONS REOPEN ON JANUARY 11
The SBA is reopening and accepting First Draw Paycheck Protection (PPP) loan applications beginning January 11 through select community bank lenders. ValueXpress will be processing First Draw PPP loan applications immediately for clients through its participating community bank partner, Peoples … [Read more...] about 1.11.21: PPP FIRST DRAW LOAN APPLICATIONS REOPEN ON JANUARY 11
1.3.21: SBA WAIVES BORROWER GUARANTEE FEE FOR SBA 7(A) LOANS
The Economic Aid Act provides emergency enhancements to the SBA’s 7(a) loan program by offering reduced or no fees for the borrower. This includes waiving the largest borrower fee -- the SBA Guaranty fee. Prior to the Economic Aid legislation, SBA 7(a) borrowers paid an SBA Guaranty fee in the … [Read more...] about 1.3.21: SBA WAIVES BORROWER GUARANTEE FEE FOR SBA 7(A) LOANS
