gats1016
Level 3

I appreciate every response.  Like everything the government does there is never a definitive answer -there are maybe's and stay-tuned.

The letter the client received from the bank states "The CARES Act passed by Congress enables us to offer an unprecedented (becoming such an overused word) form of assistance with the help of the SBA.  Payments dues on your loan in regular servicing status under the SBA 7(a) program will be made on your behalf by the SBA for six months.  These payments will cover all principal, interest and any associated fees that are owed on your loan in regular servicing status for six months."

The interesting thing (to me) is that the client did not apply for any loan assistance and in fact their business has more than doubled during this pandemic.

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