What small business owners need to know about repaying loans tied to pandemic relief

Описание к видео What small business owners need to know about repaying loans tied to pandemic relief

As 2022 draws to a close, small business owners like Karessa Jackson face the daunting reality that it's time to start repaying their federal pandemic loans.

Jackson, the owner of a collision and auto repair shop in Matthews, expects to soon start making monthly payments connected to her $500,000 COVID-19 Economic Injury Disaster Loan (EIDL).

"It may be a struggle," she said. "It would be great if we had another six months."

The Small Business Administration had deferred payments for the last two-and-a-half years, most recently in March at lawmakers' request.

That grace period is now ending in the midst of an uncertain economy with a possible pandemic looming.

READ MORE: https://www.wcnc.com/article/money/pa...

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