facebook twitter

COVID 19 AND NAR INITIATIVES

“We worked with the drafters of this legislation to ensure that independent contractors and those living on a commission-based income will be eligible for the loans as well as the forgiveness provision,” said Shannon McGahn, senior vice president of government affairs for NAR.

The measure includes $350 billion for the Small Business Administration 7(a) loan program. Under the terms, eligible businesses (500 employees or fewer) can get up to $10 million toward mortgage interest, rents, utilities, and payroll costs. A portion of these loans will be forgivable.

NAR and COVID-19 Economic Relief Package