It’s a great time to get an SBA loan, thanks to a new stimulus bill signed into law in December 2020.
The Small Business Administration partners with banks to give out small business loans. In a normal year, the SBA guarantees the banks 75% of the value of these loans in the event of a default. However, because of the December stimulus, known as the Consolidated Appropriations Act of 2021, the SBA now guarantees 90% of the value of small business loans in 2021, in the event of a default.
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