Federal Small Business Administration is granting, rather than lending up to$10,000 to each favored enterprise?
Extracted from: Economic Injury Disaster Loan Emergency Advance : “… Overview
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available following a successful application. This loan advance will not have to be repaid. … “.
If I correctly understand a “loan advance will not have to be repaid.”, it’s not up to a $10,000 advance of a loan, but rather a grant or a gift of the first $10,000 of the entire loan I suppose that to be greatly less financially and economically feasible than federal subsidizing of bank’s loans’ interest rates.
Due to the corona virus pandemic, I advocate that the interest rates of lenders’ outstanding loan be subsidized, and the subsidy should cease on January 1, 2024.
If you consider 2024 as extending the subsidy too far, reconsider the extent of financial displacement that will be consequential to this pandemic.
Amounts of outstanding loans eligible for this federal interest rate subsidy, should "capped" per borrower. The "cap" should take in account the entire outstanding debts of individual persons’ or enterprises, or partnerships, or corporations, or for any associations of such individual persons or enterprises that are beneficiaries of these federal interest rates' subsidies.
Amounts of a loans’ current annual rate of federal subsidy should on a sliding scale, be dependent upon the then current out-standing amounts of the loans, greater rates of subsidy for lesser outstanding amounts, Lesser rates of subsidy for greater outstanding amounts.
Respectfully, Supposn
Extracted from: Economic Injury Disaster Loan Emergency Advance : “… Overview
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available following a successful application. This loan advance will not have to be repaid. … “.
If I correctly understand a “loan advance will not have to be repaid.”, it’s not up to a $10,000 advance of a loan, but rather a grant or a gift of the first $10,000 of the entire loan I suppose that to be greatly less financially and economically feasible than federal subsidizing of bank’s loans’ interest rates.
Due to the corona virus pandemic, I advocate that the interest rates of lenders’ outstanding loan be subsidized, and the subsidy should cease on January 1, 2024.
If you consider 2024 as extending the subsidy too far, reconsider the extent of financial displacement that will be consequential to this pandemic.
Amounts of outstanding loans eligible for this federal interest rate subsidy, should "capped" per borrower. The "cap" should take in account the entire outstanding debts of individual persons’ or enterprises, or partnerships, or corporations, or for any associations of such individual persons or enterprises that are beneficiaries of these federal interest rates' subsidies.
Amounts of a loans’ current annual rate of federal subsidy should on a sliding scale, be dependent upon the then current out-standing amounts of the loans, greater rates of subsidy for lesser outstanding amounts, Lesser rates of subsidy for greater outstanding amounts.
Respectfully, Supposn
