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Asked a question 2 years ago

Ami, As you know we have an SBA loan and at this time have not heard from out bank on how the 6 month loan forgiveness will work. Our bank did do the automatic transfer on the 1st of April to pay the loan and I have yet to hear back from them with an answer to my question

Where am I?

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Answered 2 years ago

You should continue to reach out to your banker but this process should be automatic. If they missed a month, I think they will catch it up.

Hi , Have you heard whether or not payroll forgiveness will be a component of the Disaster Loan or will it only be the ... forgiveness as well? Thanks.

I have read if you have existing SBA loan, they wave the payment for 6 months. Is that true and is it for just SBA generated loans or includes SBA 7a generated by bank as well?

Hi Ami, we received notification today that our PPP loan was approved by our bank and then the SBA shortly there after. ... to run out before we are funded.

I have an existing business LOC with my company's bank. If I apply for an SBA loan, will they require the payoff of the LOC?

We have a banking relationship with both a local regional bank and a large national bank (both of whom are SBA Preferred ... of them will accept our application?

Are there any funding options that will allow me to consolidate my current debt ($200K) and pull out money to help me ... later. I'd like to do it together.

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