APPLICATION DEADLINE
September 27 - 5pm
Greetings
Wisconsin Business Owners
Effective Immediately!
First American Capital Corporation is offering SBA Microloans up to $50,000 with the first six months of principal and interest payments covered for you by the U.S. Small Business Administration (SBA) - as an element of the Coronavirus Aid, Relief and Economic Security Act (CARES Act).
SBA Debt Relief Loan Product
This is a limited time offer – and the clock is ticking - as the SBA six month “debt relief period” only applies to loans fully closed/disbursed by September 27th, 2020 and is dependent upon available funding.
designed to help eligible businesses fund:
Purchase of equipment
Inventory
Fixtures
Supplies and/or working capital needs
If a borrower is approved for a $50,000 SBA Microloan with a three-year term at 8% interest prior to 9/27/2020, the first six months of principal and interest payments totaling approximately $9,400 would be made on your behalf by the SBA. At month seven, your principal balance is now approximately $42,475 and you have saved approximately $1,876 in interest expense.
Here is an example of how this FACC debt relief loan product works:
We are all in this together, and we will get through this together...FACC is here to help!
For more information on FACC loan products, COVID-19 Business Resources, and FACC business capacity building development services, visit the FACC Website at:
WWW.AICCW-FACC.ORG
To learn more, please contact FACC Loan Officer Bill Beson (bill@aiccw-facc.org / 715.820.2619).