SBA Implementing Automatic Deferment on Payments Through the End of 2020
Alert
| March 2020
BY Bryan Price
Additional relief was announced on Monday, March 23, 2020, by the U.S. Small Business Administration (“SBA”) for borrowers of home and business disaster loans currently in repayment. To assist borrowers who are repaying SBA loans from past disasters, the SBA is implementing a deferment on payments through the end of 2020. The deferment is automatic, so borrowers of business and home disaster loans do not have to contact the SBA to request the deferment.