Treasury makes coronavirus loan terms less favorable for small businesses
(From CNBC)In initial guidance, the Treasury Department had said banks would charge a 0.5% fixed interest rate and that a loan’s unforgiven portion could be repaid over 10 years.
However, loans now carry a higher interest rate — 1% — and come due in a much shorter period — two years — than originally stipulated, according to Treasury guidance released Thursday.
Reprinted from: https://www.ac2news.com/2020/04/treasury-makes-coronavirus-loan-terms-less-favorable-for-small-businesses/
