“I loved the members in my previous group. We had been through a lot together, and I didn’t want to leave them. This group had helped me through my Dad’s passing and many tough business issues.”

“When you see that getting an SBA loan is getting tougher, you may think that is not good news for small businesses. But lending is tricky.”

“About half of the members are in the Grit community because they need help, and the other half are there to offer guidance, support, and help.”

“Some people are reluctant to take out a line of credit because they don’t want to guarantee the line personally, such as by using their home as collateral. But there is no personal risk if you don’t use the line.”

“The portfolio contains $1.6 trillion in loans, which is vastly more than the EIDL portfolio. This will be a big responsibility for the SBA to take on, especially with no new staff or budget.“

“The cuts in staff at the SBA and IRS are slowing down some of our work, but we’re adapting and preparing clients for the possibility of delays.”

“The average EIDL loan was approximately $70,000 during the first Trump administration. That increased to roughly $700,000 during the Biden administration.”