Governor DeSantis recently announced SBA disaster loans for businesses and residents in central Florida affected by a tornado.
The disaster loan for EIDL, Home Disaster, and Business Disaster support the program.
Completed loan applications for 'Business Physical Disaster' loans must be submitted to the SBA by May 27, 2022.
'Economic Injury Disaster' loan applications must be submitted by December 28, 2022.
Bank of America confirmed that a new credit application would be accepted for a limited time, commencing May 1, 2022, and ending September 30, 2022.
By January 31, 2023, the qualifying secured term loan must close.
Only qualifying secured term loans with a minimum of $100,000 and a maximum of $5,000,000 are eligible for this offer.
The collateral and documentation requirements of the SBA are governed by SBA standards.
In the case of EIDL, SBA ceased accepting new COVID EIDL loans or advance applications on January 1, 2022.
SBA stopped reviewing COVID-19 EIDL loan increase requests or reconsideration due to a lack of funds from May 6, 2022.
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