Discover and read the best of Twitter Threads about #sba7a
Most recents (2)
This is the story of a resilient searcher 3 years out of college with an IB background who wouldn’t take no for an answer and used an SBA 7a loan to acquire a business for $5 million despite some big hurdles.
A thread about resilience in searching. 1/16
A thread about resilience in searching. 1/16
The searcher found me through social media pre-LOI. He went under LOI end of April. We began to dig in very deep because I knew the loan would be difficult to approve. 2/16
Large Loan, Construction business, valuation seemed high, 100% YOY growth in 2021, young buyer, no direct industry experience, no advisory board. That said he was incredibly smart and wise beyond his years. 3/16
1) On Friday @IRSnews issued NEW #FAQs resolving whether an employer that receives a #PPP #Loan may defer Employer portion of #socialSecurityTaxes under #CARESAct irs.gov/newsroom/defer…
2) Employers receiving #PPPloans may not defer the deposit&payment of the Employer share of #SocialSecurity tax "otherwise due AFTER the employer receives a decision from the lender that the loan was forgiven." #IRSFAQ #1
3) The deferral applies to deposits&payments of an Employer's share of #SocialSecurity #tax that would otherwise be required to be made during the "Payroll Tax Deferral Period" (March 27 through December 31, 2020). #CARES #Section2302 @IRSnews #FAQ 2
