{"id":862,"date":"2021-02-16T16:48:19","date_gmt":"2021-02-16T16:48:19","guid":{"rendered":"https:\/\/dev.duncanday.com\/gtcc\/?p=862"},"modified":"2021-02-23T20:39:48","modified_gmt":"2021-02-23T20:39:48","slug":"cares-act-section-1112-payments-based-on-sba-loan-approval-date","status":"publish","type":"post","link":"https:\/\/dev.duncanday.com\/gtcc\/2021-02\/cares-act-section-1112-payments-based-on-sba-loan-approval-date\/","title":{"rendered":"CARES Act Section 1112 Payments based on <u>SBA Loan Approval Date<\/u>"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.8.1&#8243; _module_preset=&#8221;default&#8221; width=&#8221;100%&#8221; max_width=&#8221;100%&#8221; custom_padding=&#8221;0px||0px||false|false&#8221; da_disable_devices=&#8221;off|off|off&#8221; da_is_popup=&#8221;off&#8221; da_exit_intent=&#8221;off&#8221; da_has_close=&#8221;on&#8221; da_alt_close=&#8221;off&#8221; da_dark_close=&#8221;off&#8221; da_not_modal=&#8221;on&#8221; da_is_singular=&#8221;off&#8221; da_with_loader=&#8221;off&#8221; da_has_shadow=&#8221;on&#8221;][et_pb_row column_structure=&#8221;1_3,2_3&#8243; _builder_version=&#8221;4.8.1&#8243; _module_preset=&#8221;default&#8221;][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;4.8.1&#8243; _module_preset=&#8221;default&#8221;][et_pb_image src=&#8221;https:\/\/dev.duncanday.com\/gtcc\/wp-content\/uploads\/2015\/12\/nadco_400x400-e1607624112356.jpg&#8221; title_text=&#8221;nadco&#8221; _builder_version=&#8221;4.8.1&#8243; _module_preset=&#8221;default&#8221;][\/et_pb_image][\/et_pb_column][et_pb_column type=&#8221;2_3&#8243; _builder_version=&#8221;4.8.1&#8243; _module_preset=&#8221;default&#8221;][et_pb_post_title meta=&#8221;off&#8221; featured_image=&#8221;off&#8221; _builder_version=&#8221;4.8.1&#8243; _module_preset=&#8221;default&#8221; title_text_align=&#8221;center&#8221; title_font_size=&#8221;34px&#8221; custom_margin=&#8221;||0px||false|false&#8221;][\/et_pb_post_title][et_pb_text _builder_version=&#8221;4.8.1&#8243; _module_preset=&#8221;default&#8221; header_2_text_align=&#8221;center&#8221; header_2_text_color=&#8221;#A80F14&#8243; header_2_font_size=&#8221;25px&#8221;]<\/p>\n<h2>SBA &#8220;Adjustment Plan&#8221; effective February 16, 2021<sup style=\"font-size: .8em;\">8<\/sup><\/h2>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row use_custom_gutter=&#8221;on&#8221; gutter_width=&#8221;2&#8243; make_equal=&#8221;on&#8221; _builder_version=&#8221;4.8.1&#8243; _module_preset=&#8221;default&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.8.1&#8243; _module_preset=&#8221;default&#8221;][et_pb_image src=&#8221;https:\/\/dev.duncanday.com\/gtcc\/wp-content\/uploads\/2021\/02\/Payment_Flow_Chart_Revised_01.png&#8221; title_text=&#8221;Payment_Flow_Chart_Revised_01&#8243; align=&#8221;center&#8221; _builder_version=&#8221;4.8.1&#8243; _module_preset=&#8221;default&#8221;][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=&#8221;1_2,1_2&#8243; _builder_version=&#8221;4.8.1&#8243; _module_preset=&#8221;default&#8221;][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;4.8.1&#8243; _module_preset=&#8221;default&#8221;][et_pb_image src=&#8221;https:\/\/dev.duncanday.com\/gtcc\/wp-content\/uploads\/2021\/02\/Payment_Flow_Chart_Revised_02.png&#8221; title_text=&#8221;Payment_Flow_Chart_Revised_02&#8243; align=&#8221;center&#8221; _builder_version=&#8221;4.8.1&#8243; _module_preset=&#8221;default&#8221; max_width=&#8221;80%&#8221;][\/et_pb_image][\/et_pb_column][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;4.8.1&#8243; _module_preset=&#8221;default&#8221;][et_pb_image src=&#8221;https:\/\/dev.duncanday.com\/gtcc\/wp-content\/uploads\/2021\/02\/Payment_Flow_Chart_Revised_03.png&#8221; title_text=&#8221;Payment_Flow_Chart_Revised_03&#8243; align=&#8221;center&#8221; _builder_version=&#8221;4.8.1&#8243; _module_preset=&#8221;default&#8221;][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.9.0&#8243; _module_preset=&#8221;default&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.9.0&#8243; _module_preset=&#8221;default&#8221;][et_pb_text _builder_version=&#8221;4.9.0&#8243; _module_preset=&#8221;default&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;]<\/p>\n<h2>SBA DEFINED HARD HIT NAICS CODES<\/h2>\n<table>\n<thead>\n<tr>\n<td width=\"150\" valign=\"top\"><b><u>NAICS CODE<\/u><\/b><\/td>\n<td valign=\"top\"><b><u>INDUSTRY<\/u><b><\/b><\/b><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td valign=\"top\">61<\/td>\n<td valign=\"top\">Educational Services<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">71<\/td>\n<td valign=\"top\">Arts, Entertainment, and Recreation<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">72<\/td>\n<td valign=\"top\">Accommodation &amp; Food Services<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">213<\/td>\n<td valign=\"top\">Support Activities for Mining<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">315<\/td>\n<td valign=\"top\">Apparel Manufacturing<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">448<\/td>\n<td valign=\"top\">Clothing and Clothing Accessories Stores<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">451<\/td>\n<td valign=\"top\">Sporting Goods, Hobby, Book, Music Stores<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">481<\/td>\n<td valign=\"top\">Air Transportation<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">485<\/td>\n<td valign=\"top\">Transit, Rail, Bus, Tax, Limo<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">487<\/td>\n<td valign=\"top\">Scenic and Sightseeing Transportation<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">511<\/td>\n<td valign=\"top\">Newspaper, Books, etc. Publishing<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">512<\/td>\n<td valign=\"top\">Motion Picture, Video, Sound Recording Industries<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">515<\/td>\n<td valign=\"top\">Radio and TV Broadcasting<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">532<\/td>\n<td valign=\"top\">Rental &amp; Leasing-equipment, consumer goods, etc<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">812<\/td>\n<td valign=\"top\">Personal and Laundry Services<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.8.1&#8243; _module_preset=&#8221;default&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.8.1&#8243; _module_preset=&#8221;default&#8221;][et_pb_text _builder_version=&#8221;4.8.1&#8243; _module_preset=&#8221;default&#8221; ol_font_size=&#8221;16px&#8221; ol_line_height=&#8221;1.7em&#8221;]<\/p>\n<h2>Notes<\/h2>\n<ol>\n<li>Round 1 Section 1112 payments must be completed before Round 2 payments can begin<\/li>\n<li>Round 1 Section 1112 payments are not capped per month<\/li>\n<li>Round 2 Section 1112 payments cannot exceed $9,000 per month \u2013 borrower must pay excess amount or contact CDC\/Lender if unable to pay<\/li>\n<li>\u201cUnderserved\u201d \u2013 all community advantage (CA) loans; all microloans; and targeted 7(a) and 504 loans to businesses assigned a North American Industry Classification System (NAICS code beginning with 61, 71, 72, 213, 315, 448, 451, 481, 485, 487, 511, 512, 515, 532, or 812<\/li>\n<li>Businesses that have received (or will receive) debt relief on any other 7(a) loan, 504 loan, or Microloan that was approved March 27, 2020 through September 27, 2020 are not eligible for Section 1112 payment assistance on any new loan approved February 1 to September 30, 2021<\/li>\n<li>All Section 1112 payments begin with the next payment due on or after February 1, 2021 or beginning with the next payment due after any deferment period granted<\/li>\n<li>Please refer to NADCO Technical Issues Memo 13\u201021 and SBA Procedural Notice 5000\u201020079 and NADCO Technical Issues Memo 1\u201021 and SBA Procedural Notice 5000\u201020095 for complete details<\/li>\n<li>Reduced number of months of Section 1112 payments (\u201cAdjustment Plan\u201d) effective beginning with payments made in February 2021.<\/li>\n<\/ol>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SBA &#8220;Adjustment Plan&#8221; effective February 16, 20218SBA DEFINED HARD HIT NAICS CODES NAICS CODE INDUSTRY 61 Educational Services 71 Arts, Entertainment, and Recreation 72 Accommodation &amp; Food Services 213 Support Activities for Mining 315 Apparel Manufacturing 448 Clothing and Clothing Accessories Stores 451 Sporting Goods, Hobby, Book, Music Stores 481 Air Transportation 485 Transit, Rail, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":885,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CARES Act Section 1112 Payments based on SBA Loan Approval Date - Greater Texas Capital Corporation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.duncanday.com\/gtcc\/2021-02\/cares-act-section-1112-payments-based-on-sba-loan-approval-date\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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