SBA Waives Disaster Loan Interest Rates And No First-Year Payments

Breaking news: The US Small Business Administration (SBA) has announced that it will waive disaster loan interest rates and take no first-year loan payments starting now. This is a huge development. This agency move may be due to the recent hardship accommodation plan where EIDL borrowers can apply to receive up to 6 months’ worth of reduced payments.

I think that there are many small business owners still struggling over 2 years since the start of the COVID pandemic. Waiving the disaster loan interest rates and delaying loan payments for the first-year further helps small business owners who may need these disaster loan funds.

Here is the official press release for more information.

Originally published at https://carlarjenkins.com on December 10, 2022.