|
Oskaloosa, Iowa 52577 | SBA just issued a statement where in the said they were not granting any more of the advance payments, which was the free element of the EIDL loans. Therefore the loan is still available, But only as a loan. No free non-taxable element.
The loans are repayable at 3.75%, Amortizable Over 30 years, monthly payments, with payments to not start until one year after the loan is received.
The problem that one should be alert for is that SBA takes a lien on everything, they say they will not interrupt the flow of the sale of inventory with those liens, but I am concerned that when a person seals grain that given a person would be working with an absentee government agency like SBA that it might be difficult to get the lien lifted so that the grain could be sold, as approved by the CCC.
Edited by jakescia 7/12/2020 23:19
| |
|
Sba loan
