SBA Debt Relief Program

Congress has made immediate relief available to small businesses with SBA 7(a), 504, and microloans. For existing borrowers, SBA will cover all loan payments on these SBA loans, including principal, interest, and fees, for six months. This relief will also be available to new borrowers who took out loans by September 27, 2020.


You are eligible if:

  • You have an existing SBA 7(a), 504, or microloan loan (Paycheck Protection Program loans and SBA Economic Injury Disaster Loans are not eligible—but payments are already deferred under those loans);

  • You apply for and receive an SBA 7(a), 504, or microloan within six months of enactment of the CARES Act (i.e., between March 27, 2020 and September 27, 2020).

  • To check if you are eligible for an SBA 7(a), 504, or microloan, please visit the Small Business Administration website.

More about SBA Loans

  • An SBA 7(a) loan is a loan of up to $5 million for borrowers who lack credit elsewhere and need access to versatile financing, providing short-term or long-term working capital and to purchase an existing business, refinance current business debt, or purchase furniture, fixtures, and supplies.

  • A 504 loan is a loan up to $5.5 million for small businesses that provides long-term, fixed-rate financing used to acquire fixed assets for expansion or modernization. You must apply through a Certified Development Company, which is a nonprofit corporation that promotes economic development.

  • A microloan loan is a loan up to $50,000 to help small businesses and certain not-for-profit childcare centers to start up and expand. The average microloan is about $13,000. These loans are delivered through mission-based lenders that also provide business counseling.

  • You can visit an SBA resource partner who can help guide you through the loan application process. You can find your nearest Small Business Development Center (SBDC) or Women’s Business Center here.

  • You can use SBA’s free lender match tool to find a lender near you.

How do I get debt relief?

Debt relief is automatic, but you should check in with your lender. Under the new law, the SBA is directed to make payments within 30 days of the date on which the first payment is due.

More Information

If you have additional questions, my staff will help get you answer. Contact my nearest office here.

For more information about SBA loan programs, please visit the Small Business Administration website

If you need additional assistance, please reach out to your local Small Business Development Center, Women’s Business Center, SCORE chapter, or SBA District Office.