Looking for investments (6 months of P&I paid by SBA for CARES Act)

April 08, 2021

by an investor from Columbia University - Columbia Business School in Jacksonville, FL, USA

I am looking for investments in the near future and motivated searchers. I am also looking for a company so don't be surprised if you see another similarly-looking, handsome man posting under my alter ego. I was told I need one account for Search and one for Investing if I wanted to keep access to IBIS. Thanks and please reach out to redacted style='text-decoration:underline;' target='_blank' href='https://calendly.com/leigh-lommen'>https://calendly.com/leigh-lommen

Reply by a searcher
in Toa Baja, 00949, Puerto Rico

Hello Leigh, I believe that there was a funding shortfall and the SBA is only paying up to three months of P&I payments. If additional funding is made available it could go back up to six months.

I have a business that is close to being under LOI and I'm currently looking for equity investment up to $160k. The business is a food wholesaler in the southwest. Please let me know if you want to learn more about the opportunity.

Reply by a lender
from University of Missouri in St. Louis, MO, USA

You are both right. The SBA did approve six months but William is correct in that they didn't fund it properly. So the guidance they are giving us is that they will pay 3 months ($9k per month max) and will increase if there are funds available. There are some industries that are getting additional months so talking to your banker to determine the amount would be the route to go.

+3 more replies.

Join the discussion