Unless Congress Acts, your SBA Loan will likely not be the $10,000 you think it will be...

When I was applying for my SBA Disaster Relief Loan with my accountant, he and I discussed the parameters of the loan. Despite all of the excitement surrounding the loan -the possibility of receiving $10,00.00- the reality of the amount small businesses will receive is frustrating and a letdown. Unless Congress acts to supplement the COVID-19 Economic Relief measures, each qualifying applicant will only receive $1,000.00 per business owner. Presently, Congress is doing nothing to supplement the loan fund; instead it is fighting over funding for non-business entities such as state and local governments (funding which could occur in other measures.) See https://nypost.com/2020/04/09/senate-dems-block-250-billion-for-coronavirus-small-business-loans/. Time to call your members of Congress (Senators and Representatives alike) and demand action to save small businesses!


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