DECEMBER STIMULUS LAW: SBA LOAN FORGIVENESS?
I read through the law and can't find the answer definitively. Does the new stimulus law passed last night continue the 6 months of debt relief (forgiving fees, interest, and principal) for new SBA 7A loans?
SBA Link to the expired program: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief
Full Law Text: https://www.cnn.com[redacted]politics/new-covid-stimulus-bill-text/index.html
"If, for a month, the total amount of principal, interest, and associated fees that are owed on a covered loan for which the Administration makes payments under paragraph (1) is more than $9,000 the Administrator may require the lender with respect to the covered loan to add the amount by which those costs exceed $9,000 for that month as interest to be paid by the borrower with respect to the covered loan at the end of the loan period"