City National Scores Big on SBA Loan List

Cindy Apt

The downtown-based City National Bank led the local rankings and placed second nationwide for U.S. Small Business Administration 504 loans, according to the administration’s mid-fiscal year 2022 report. The SBA’s report on third-party lender activity released on May 3 noted City National Bank approved 79 small business loans worth more […]

SBA: COVID-19 disaster loan program out of money

Cindy Apt

The federal government’s COVID-19 disaster loan program for small businesses and nonprofits ran out of money on Saturday, hours after the deadline for borrowers to request additional loan funds, according to an email notification obtained by Newsday. The U.S. Small Business Administration, in the message to borrowers, said all funds […]

SBA Offers Last Call for a Key Covid-Era Small-Business Aid Program

Cindy Apt

In the past few days, tens of thousands of small-business owners have received emails from the Small Business Administration inviting them to apply for more money through the Economic Injury Disaster Loan program, an emergency loan program for small businesses struggling financially amid the pandemic. The SBA is offering the […]

Application deadline for more SBA COVID-19 loans is Friday

Cindy Apt

Friday is the deadline for small businesses and nonprofits with COVID-19 federal disaster loans to request an increase in their loan amount, officials said. The U.S. Small Business Administration announced it will accept requests for “a loan increase” under the COVID-19 Economic Injury Disaster Loan program through “May 6 because […]

SBA Extends Deferment for Small Business EIDL Covid Loans

Cindy Apt

Starting immediately the Small Business Administration (SBA) is extending the deferment for existing COVID Economic Injury Disaster Loan (EIDL) program borrowers for a total of 30 months. This includes the principal and interest payments on all approved COVID EIDL loans from the start. SBA Extends Deferment of EIDL Loans The […]