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SBA and EXIM Resources in Response to COVID-19

In regard to finance relief due to current conditions the SBA is making available “Economic Injury Disaster Loans” (EIDL) to qualified, affected businesses (exporters and non-exporters alike). Here is a link to URL where a business owner can initiate the on-line EIDL application process: https://disasterloan.sba.gov/ela/Account/Login

Relief is also available to affected businesses with SBA guaranty loans already on the books:
• For SBA guaranteed loans which have not been sold by lenders on the secondary market, lenders are authorized at their own discretion( without SBA review or approval) to offer up to 6 months payment deferral.
• For SBA guaranteed loans which have been sold, maximum deferral limited to 3 months. Typically our short-term EWCP facilities are not eligible for secondary market sale, so this is unlikely to affect our export borrowers. Provisions are available to extend deferral beyond 3 months, subject to concurrence by the secondary investor.

EXIM has put together a factsheet with info about some of their programs and changes to policies in light of Covid-19.
https://www.exim.gov/fact-sheet-exim-covid-19-assistance

https://disasterloan.sba.gov

https://princetonmercerchamber.org/wp-content/uploads/2020/03/SBA-Disaster-Assistance-Resources-for-Businesses.pdf