CoronaVirus Update | Ep. #14

The social distancing efforts being used to combat the CoronaVirus has left Small Business Owners in a very tough situation. There are 2 major SBA initiatives happening: 1. $7 billion in disaster relief loans has been passed and signed by the President 2. A $50 billion SBA package to increase and stimulate 7(a) lending is being worked on to further assist. My advice for SBA lenders during this unprecedented time: - make sure small business owners are educated on any MCA loans they may be considering - ask the right questions and do the right analysis for loans that are in closing to make sure you avoid an early default situation - expect 2020 to be a down year for many small businesses  For more info regarding SBA disaster recovery loans you can call 1-800-659-2955 or email [email protected]. The content of this podcast is my own and doesn't necessarily reflect the views of my employer.