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Junior Carder
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- Dec 2021
If a business owner requests a delay, banks may decide to stop paying principal and interest, reduce total payments, or set interest-only payments so that attraction is not accrued during the period of missed payments. Regardless of how the bank decides to form a deferral, it does not need to consult with the SBA before doing so. This means that business owners and lenders can work together to decide what is best for everyone involved. But before that, you should consult with Mortgage Advisor Coventry to learn more about everything.