How Ntare Consulting can help you to apply for the SBA Federal Relief Loans
With this outbreak, we understand that this may be the most confusing time for small business loans and entrepreneurs.
At Ntare Consulting we have been keeping our ears on the ground and after receiving several calls and emails about how to apply for this loan program, we have structured the Ntare Small Business Loan Application Assistance Service to help you affected by this pandemic. We can help you apply and followup on the loan that can go up to $2 million dollars depending on the SBA criteria.
3 ways we help to apply for SBA economic injury loans
There are three ways we can help you apply for an SBA loan;
We can apply online which the easiest and fastest way to get this application in
We can apply in person at a disaster center
Apply by mail.
Some more information
• Disaster loans can be obtained directly through the SBA without first going through a local bank. However, given what could be a longer SBA processing time due to the volume of applicants, some small business operators may consider applying for a bridge loan from a local bank to cover expenses until the SBA loan is approved and funds are received.
• Collateral is no longer required on SBA disaster loans up to $25,000. However, collateral must be provided for loans from $25,000 to $2 million after such loans are processed. Collateral can include real property, machinery and equipment as well as inventory.
• The disaster loan interest rate for businesses is 3.75% and 2.75% for private nonprofits.
• Disaster loans can now be processed without initially providing IRS tax records, ownership records, debt schedules as well as income and expenses, but these records will be required at a later date, determined by loan officers on a case by case basis.
Ntare Consulting is a consulting firm that works on financial management, government compliance, fiscal planning and business solutions for entities both in the US and Uganda. We are a full-service business solutions firm and we help start new and/or maintain your existing business. Our process is to get with you and understand your business needs to tailor a process that can help you at the lowest cost possible.