SBA loan question
I cant get a straight answer out of them, im going to call on monday but maybe someone here knows.
“SBA disaster loans are simple interest loans, and the interest begins accruing 12 months from the date of initial disbursement *July 28, 2026*. Interest accrues daily based on the outstanding principal balance of the loan.”
So why the hell do i owe $939 in interest?? Shouldn’t it be $35? Plus my initial payment of $353 went all to interest?
This has to be wrong? Anyone else see the same?