, this program will provide immediate relief to small businesses with non-disaster SBA loans, in particular 7(a), 504, and microloans.
Under it, SBA will cover all loan payments on these SBA loans, including principal and interest, for six months. This relief will also be available to new borrowers who take out loans within six months of the President signing the bill into law (March 27, 2020).
Anyone who has taken out a 7(a) loan, 504 or microloan through the SBA is eligible to apply. New loans (those that are issued prior to September 27, 2020) will be eligible for this program.
How to Apply
If you have taken out an SBA loan, contact your lender for more information.
7(a) loans, 504 loans, and microloans. Disaster loans and 7(a) loans made under the Paycheck Protection Program (PPP) are not eligible.
You must meet size standards, be based in the US, be able to repay and have a sound business purpose. You can check if your business is considered small here:
Each program has different requirements, see
for more details.
SBA’s Write-Up of the Debt Relief Program:
Find a lender with SBA Lender Match:
Find local assistance for SBA loans here: