CRF COVID-19 SUPPORT
Community Reinvestment Fund, USA (CRF) is committed to helping your small business navigate these uncertain times caused by COVID-19. We’re here for you.
The CARES Act and Your Small Business
The Coronavirus Aid, Relief, and Economic Security (CARES) Act is designed to provide relief for individuals and small businesses impacted by the COVID-19 pandemic. As a result, the U.S. Small Business Administration (SBA) will offer several products and programs that could impact your business.
SBA Small Business Debt Relief
Beginning with payments due March 28, 2020 and thereafter, the SBA will provide payment relief to small businesses with an SBA 7(a) loan. ***Under this program, the SBA will cover loan payments on loans in regular servicing, including principal, interest, and fees, for six months.*** Please note that if your loan is currently on deferment, payments will begin with the next due date AFTER the deferment period.
This relief is also available to new borrowers who take out new loans issued prior to September 27, 2020. LEARN MORE
If you are a business with an SBA 7(a) loan with CRF and have questions, please contact us. Please be aware that due to the increased number of inquiries, our response time may be delayed, but we will respond as quickly as we are able. Thank you for your patience.
SBA Paycheck Protection Program
The SBA Paycheck Protection Program (PPP) provides eligible businesses with access to low interest and partially to fully forgivable loans with no personal guarantee or collateral required. Eligible small businesses, nonprofits, veterans’ organizations and tribal businesses can use these funds to help pay business payroll, utilities, and other operating expenses during the COVID-19 pandemic.
SBA Economic Injury Disaster Loan
SBA Injury Disaster Loans (EIDL) are now available for eligible businesses in need of working capital loans up to $2 million to help them overcome a temporary loss in revenue due to COVID-19.
APPLY THROUGH SBA
All characteristics described above are from the Coronavirus Aid, Relief and Economic Security (CARES) Act, which was signed into law by President Trump on March 27, 2020. The terms and information outlined above are subject to change upon further guidance from the U.S. Small Business Administration and the U.S. government.
For CRF small business borrowers
For General Inquiries
Have questions about something else? Fill out the form below or call 1-800-475-3050