The Fantastic Economics of SBA Loans
Think Big, Buy Small
Empowerment Through Support: Navigating Personal Guarantees
In the face of financial hardship, such as during COVID-19, borrowers with SBA loans can benefit from the support of their banks. The personal guarantee, often a source of concern, does not lead to immediate dire consequences if business disruptions occur. Instead, banks are incentivized to grant at least six months of payment deferrals, which can include interest-only or full payment options. This approach aims to provide borrowers with the necessary time to stabilize and recover their businesses.
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