Non-PPP Forgivable Loan Help Is Now Available to Startups & Other SMB’s
The federal government extended the forgivable portion of two small-business loan programs as part of the $900 billion stimulus law enacted last week, throwing a potential lifeline to companies who may not have felt the impact of the pandemic.
Below are some of the highlights of the extension of the debt relief program courtesy of BBVA, one of Madison Commercial Properties preferred lenders.
- Resumes the payment of principal and interest (P&I) on small business loans guaranteed by the SBA under the 7(a), 504 and Microloan programs, established under the CARES Act.
- SBA payments of P&I on the first 6 months of newly approved loans will resume for all loans approved between February 1 and September 30, 2021, also capped at $9,000 per month.
- Increases to 90 percent the loan guarantee on 7(a) loans, including for Community Advantage loans, until October 1, 2021.
- Waives lender and borrower fees for both the 7(a) and 504 loan programs.
Source: CFODive.com and BBVA
Arvada Light Industrial Parcel Sells for $773,000
Arvada has seen tremendous growth over the last year in terms of commercial and industrial land development. While there are many factors that determine the sale price - including location, entitlements, water supply, to name a few - commercial land traded at $2.18 to over $18.00 per square foot in 2020 and industrial land sold at $7.00 - 12.82 per square foot.Read More
Atwell Suites Hotel Site Sold
Alex Kovacs, CCIM sold a 2.4 acre parcel near Denver International Airport for development of a new 96 room Atwell Suites. This is a new IHG franchise all suites hotel concept, and will be located one block west of Tower Road, between 64th and 65th Avenues. KJ Hotel Properties, based in Branson Missouri, is the developer.Read More