Category: SBA Loan
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2nd Round PPP Starting now
https://www.cnbc.com/2021/01/08/small-businesses-can-apply-for-ppp-loans-starting-jan-11.html
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Stimulus Package Expands PPP, Simplifies Loan Forgiveness and Adds Disaster Grants
* Source: https://www.foxrothschild.com/publications/stimulus-package-expands-ppp-simplifies-loan-forgiveness-and-adds-disaster-grants/ * * More details to be announced later. In its massive new pandemic relief and stimulus package, Congress has significantly modified the Paycheck Protection Program (PPP) to allow for second draws from the program, to simplify the loan forgiveness process, to provide restaurants access to greater relief and to extend the program…
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PPP Loan Document Checklist
□ Completed SBA Application for each 20% or more owner. □ Articles of Incorporation/Organization of each borrowing entity □ EIN Letter from IRS or first page of the Company tax return in order to confirm Tax ID □ Bylaws/Operating Agreement of each borrowing entity □ Copies of all owners’ Driver’s Licenses □ Average monthly payroll…
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Paycheck Protection Program(PPP) Loan by June 30, 2020
Paycheck Protection Program (PPP) An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. Content Program Overview Who Can Apply How to Apply Loan Details and Forgiveness Other Assistance US Treasury’s Care Act site Recommended* Program Overview The Paycheck Protection Program is a loan designed to provide a direct incentive…
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Automatic Deferment on Existing SBA Disaster Loans Through End of 2020
Release Date: Monday, March 23, 2020Release Number: 20-27Contact: Press_Office@sba.gov, (202) 205-7036 WASHINGTON – Today, U.S. Small Business Administration Administrator Jovita Carranza announced changes to help borrowers still paying back SBA loans from previous disasters. By making this change, deferments through December 31, 2020, will be automatic. Now, borrowers of home and business disaster loans do not have to contact SBA to…
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SBA Coronavirus Relief Loan Update as of March 24, 2020
The Congressional Small Business Task Force unveiled a $300B Emergency Coronavirus Relief Package as part of the Keeping Workers Paid and Employed Act, Division A of the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) and US Congress is negotiating to pass this bill as of now. This includes: $300 billion in lending authority for SBA 7(a)…
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May 2019 Closing – Best Western Plus Hotel
John Kim Financial closed Best Western Plus Hotel at Birmingham, Alabama in late May. We advised the buyers for the transaction and ultimately financed 85% of the costs including the purchase money and improvements. Congratulations to the first time hotel buyers and for a closer look at this wonderful location, check out their video below.…
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August 2017 Closing: 18-House Poultry Farm Acquisition
John Kim Financial has closed a poultry farm acquisition in late August for a client who is new to the farm business. The farm acquired is a 18-house broiler farm located in South Carolina, which is one of the biggest farms operated and integrated by Fieldale Farms Corporation. Our team has worked with a seller, its…
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Obama Nominates María Contreras-Sweet to Lead SBA
Originally posted on Hispanic Link D.C.: By Aaron Montes Washington D.C., Jan.15 — President Barack Obama today nominated María Contreras-Sweet to head the U.S. Small Business Administration. Contreras-Sweet, 58, emigrated from Guadalajara, Mexico to the United States at age 5 with her mother. She offers a mix of private sector and governmental experience. She…
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