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SBA Debt Relief Program
6 Months of Payments for 7a, 504, and Micro-loans
- The SBA may pay up to six months of principal, interest, and fees for 7a, 504, and Micro-loans (excluding PPP loans).
- This SBA provides the help automatically
For Loans Not on Deferment
- SBA will make monthly payments based on next payment due; total amount equivalent to six months of payments.
For Loans Currently on Deferment
- The SBA will make monthly payments. First payment due after deferment period ends; the total amount is equivalent to six months of payments.
Additional Debt Relief Help
- The Economic Aid Act provides debt relief payments to 7a, 504, and Micro-loan borrowers beyond the six-month period prescribed in the CARES Act.
Disaster Home and Business Loans
- Borrowers resume scheduled payments prior March 31, 2022, unless borrower voluntarily continues making payments while on deferment
- Note that the interest continues to accrue on the Loan
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