![]() ![]() ![]() These requests are approved by one of SBA’s disaster loan centers and borrowers should be prepared to make their request well in advance of the actual sale. If a business owner wants to sell a piece of equipment or the business itself, SBA will need to approve the release of its lien. In some cases, this may require a cash payment to reduce the loan balance. For loans above $25,000, SBA filed a lien on the business assets. Box 3918 Portland, OR 97208-3918īorrowers should review their loan authorization to ensure all terms are being followed. Enter your 10-digit SBA loan number in the memo field on your check or money order.Make payments by check or money order, payable to the “U.S.Set up an electronic one-time or recurring payment using your bank’s bill pay service.If you need to enter a telephone number, enter the telephone number found on the front of your statement. If you need to enter a payment address, enter P.O.Loan numbers are listed on your account statements. Enter your 10-digit loan number as the “Account Number.” Note: your loan number is not the same as your application number. ![]() Small Business Administration as a payee on your personal online banking account. Use online bill pay through your personal banking account: Instructions on how to make your electronic payment visit, SBA Borrower Payments (link: ).Submit payment using SBA Form 1201 Borrower Payment using one of the following accepted online payment methods: bank account (ACH), PayPal account, debit card.Search for SBA Form 1201 Borrower Payment.Make an online payment at Pay.gov (PREFERRED): Payment options: There are several options to make a payment to SBA For Non-Profit Borrowers, please call the loan’s assigned Servicing Center to ensure an authorized user has permissions to set-up and access the organization’s CAFS account.If you need further technical assistance, please contact the CAFS’s Helpdesk at 83 or Mon.-Fri.Instructions on how to set up a CAFS account is found at: CAFS_Borrower.pdf (sba.gov).Visit the Capital Access Financial System (CAFS) website.To check account balances and payment due dates: For the most up to date information regarding your SBA COVID EIDL loan, please create and/or login to your CAFS account. The date of the Note is located at the top right corner of the front page of the Promissory Note:Īccount balances, interest amounts and payment due dates are accessible in the SBA Capital Access Financial System. The Note can be found in the original loan closing documents. You may make prepayments at any time without penalty. For borrowers that received loan increases, the deferment period began on the first disbursement. Monthly payments of principal and interest will begin at the end of the deferment period and will be paid over the remaining 27+ years. Please allow at least 5 business days to receive your materials. Borrowers who need copies of their loan documents can still contact Customer Service at (833) 853-5638. As of May 6, the SBA was no longer processing COVID-19 EIDL loan increase requests or requests for reconsideration of previously declined loan applications due to a lack of available funding.Īs of May 16, the COVID-19 EIDL portal closed. The program effectively ended the first week of May 2022. In Northern Ohio, the Small Business Administration approved over 40,000 loans totaling more than $1.8 billion to be used as interim working capital and for other normal operating expenses. In that time, over 3.9 million loans totaling over $378 billion were approved across the country. For Economic Injury Disaster Loan borrowers, here's your next steps:įor over 2 years, the COVID-19 Economic Injury Disaster Loan program provided funding to help small businesses recover from the economic impacts of the COVID-19 pandemic. ![]()
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