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SBA Loan Forgiveness

Kramerwv

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It would likely take a couple of months or more to get approved for Sba financing at this point, so if you don’t owe huge $$ it’s probably not worth the hassle. There’s a employee retention tax credit that just got increased for 2021 so certainly pay attention to that if eligible.
 

Earl Weiss

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Just heard EIDL can be forgiven as well. Bank had me make on payment - Hope I get it returned.
 

soapy

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Earl, you should get it back. My banknever had me make a payment and the SBA gave them interest as well as the full amount of the loan.
 

David Rolf

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Can something post a link on how to get a loan forgiven not a PPP. I can't find anything on the SBA site and did NOT go through a bank for assistance. Thanks
 

slash007

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Only PPP can be forgiven. Not SBA loans. Only free money is PPP, EIDL advance and then first 6 months payments on certain SBA loans.
 

Rish Cw

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A bank I use in VA just yesterday told me that if an SBA loan is approved by 9/1/2021 that the SBA will cover 6 months of payments. When the pandemic started, I had 6 months of an SBA loan covered.

This was on a 504 (land acquisition) loan. I’m not sure if it’s different for a 7a business loan. But it’s worth the question!
 
Etowah
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