Current SBA 504 Borrowers
If you currently have a SBA 504 loan being serviced by Capital Matrix, the SBA did not auto-draft your checking account for the April payment as usual. The new debt relief program is automatic, the SBA will be making your payments until September 2020. This is debt relief, you are not required to pay funds back. Your payments will resume for the October loan payment .
The CARES Act specifically states that SBA is to make the loan payments for six months on 504 loans in regular servicing and not on deferment beginning with the first payment due after the enactment (i.e., April 1). We are awaiting additional guidance, and will post information as it becomes available. If you did have a loan payment debited from your account between March 26th and April 1st, 2020, please contact us at 208-727-7003.