I spoke with a business owner last week who rents and sells heavy equipment to the oil fields in Texas. Unfortunately, his business took a double whammy in Covid with the impact of the Pandemic plus declining oil prices. And while things are turning around, his monthly debt payments continue to cripple him.
There is one possible solution that could help him. If a lender restructures his debt with an SBA loan, his monthly payments will be reduced by over $125K a month. And if he gets the deal done before September 30, he will not pay any guarantee fees, and the government will pay $9k per month for three months.
Do you currently have debt? Then, it's worth it to check in and see if an SBA loan will make sense for you. Learn more on our live SBAIGNITE webinar at noon EST today, or sign up for on-demand learning here.