Hi there, I'm pleased to report that on Friday my team funded another $649K SBA 7a loan for an owner-occupied real estate purchase.  Because we met the September 27th deadline, the client qualifies for six months' payment relief under section 1112 of the CARES act.  This equates to approximately $25,000 "free" money.  We also included $70,000 extra cash in the loan for repairs and working capital so the client can create an ideal space for their granite and marble business. 

Why did this deal work in the age of Covid-19?  First, the client was very responsive to every document request.  The bank loved that they had well thought out sales projections through Q2 2021.  We found that though the business was stable over the last 10 years, with the new space they could continue to grow their retail customer base.  Lastly, with a dedicated, local SBA team we were able to meet all deadlines set by the seller, client, and Small Business Administration.