PPP Update10-26-20

PPP Update10-26-20

No News is… No News   

Very little came out in the media last week regarding PPP, individual unemployment benefits or any other stimulus that might be proposed.  I will tell you from conversations with many business owners, there are still a number of them that did not get the PPP loan the first time around and want to make sure they get in the game for round two.  However, it is a waiting game.

If you are seeking more funds, it is clear that those funds will not be available before the election.  It is possible that there may be legislation soon and if so, you will see it show up on congress.gov.  Check out the site; you will be amazed at the number of bills that are in process.  To see what they are working on day by day, click here.

25 Year SBA Fixed Rate:  In different news and more of a public service announcement,  the 25 year fixed rate for an SBA commercial property loan is 2.582% fixed.  It does have a prepayment penalty, can only be used for owner-user properties, and is capped at $5 million.  Contact me with any questions.