Five-year maturity
All guidance issued in connection with First Draw Loans applies to Second Draw Loans, except as specified in the new guidance applicable to Second Draw Loans.
SBA Guaranty
As with First Draw Loans, Second Draw Loans are subject to an SBA guaranty of 100% of Second Draw Loans. As a result, a lender who makes Second Draw Loan will not bear the financial risk of non-payment, as long as the lender complies with its obligations under the program.
Eligibility
Eligibility for Second Draw Loans is much more limited than for First Draw Loans. To be eligible an applicant must be a business concern, nonprofit organization, housing cooperative, veterans organization, tribal business concern, eligible self-employed individual, sole proprietor, independent contractor, or small agricultural cooperative that (i) employs not more than 300 employees, (ii) experienced a 25% or greater reduction in gross receipts for at least one quarter in 2020 as compared to the same quarter in
On Tuesday, January 12, 2021, the U.S. Attorney’s Office for the Eastern District of California announced the first, and long-anticipated, civil settlement resolving allegations of.
Communities struggle to make best use of largest influx of homeless aid in U.S. history Shaena Montanari and Natalie Walters, Howard Center for Investigative Journalism
Winter in Oregon’s Columbia River Gorge is wet and freezing, a life-threatening situation for the area’s homeless residents even without a pandemic. Darcy Long-Curtiss understands that better than most.
The shelter that normally provided nighttime refuge was closed because of COVID-19, and federal aid money meant to help protect homeless people from the pandemic came late and with confusing restrictions. By the time Long-Curtiss got permission to erect temporary shelters purchased with her community’s share of the funding, temperatures already were dipping below freezing. She had just one week to ready the site and make potentially life-and-death decisions.
Key inspector general offices vacant as Trump administration ends azcentral.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from azcentral.com Daily Mail and Mail on Sunday newspapers.