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2. For small business loan program, forgiveness may be the ... - AOL

   www.aol.com/article/finance/2020/05/01/for-small...

   In principle, the forgiveness terms are straightforward: borrowers must spend 75% of the loan on payroll costs, such as salaries, tips, leave, severance pay and health insurance, within the first ...

3. SBA 7(a) loan: What it is and how to apply - AOL

   www.aol.com/finance/sba-7-loan-apply-123539929.html

   To apply for an SBA 7 (a) loan, you will need to work with a lender approved by the SBA. Then, be prepared to submit a long list of financial documentation to show that you can repay the loan. You ...

4. SBA loan denied: What to do next - AOL

   www.aol.com/finance/sba-loan-denied-next...

   According to the SBA weekly summary report, fewer than 60,000 businesses were approved for 7(a) loans in 2023 — and only around 6,000 SBA loans were approved for 504 loans, highlighting how the ...

5. Paycheck Protection Program - Wikipedia

   en.wikipedia.org/wiki/Paycheck_Protection_Program

   President Trump signs the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), April 24, 2020. The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self ...

6. SBA ARC Loan Program - Wikipedia

   en.wikipedia.org/wiki/SBA_ARC_Loan_Program

   Repayment of the ARC loan principal is deferred for 12 months after the last disbursement (18 months from the first disbursement), followed by a repayment period of five years. Good candidates for ARC loans are small businesses that can show a profitable past but are currently struggling to make loan payments or are just beginning to miss loan ...

7. SBA ramps up PPP loan forgiveness as big banks like ... - AOL

   www.aol.com/finance/ppp-ramps-loan-forgiveness...

   The initiative is only for loans of $150,000 or less, which make up 92% of the PPP loans distributed. The new online portal is reportedly designed to streamline the process both for borrowers and ...

8. SBA loan guide: What they are and how to apply - AOL

   www.aol.com/finance/sba-loan-guide-apply...

   SBA loan statistics. According to the SBA, at the end of 2023 fiscal year:. $27.5 billion in SBA 7(a) loans was approved. Almost 70 percent of 7(a) loans were for amounts under $350,000

9. Pros and cons of SBA loans - AOL

   www.aol.com/finance/pros-cons-sba-loans...

   SBA loans aim to make it easier for small businesses to get the funding they need to launch and operate. In the 2023 fiscal year — which ended September 30, 2023 — the SBA issued more than ...