To Our 504 Borrowers:
If you are a recipient of a Cares Act loan, this information may affect you.
Please review SBA Notice 5000-20067 Tax Treatment of CARES ACT Section 1112 Payments. The document is attached to this communication. Payments made for 504 borrowers are TAXABLE! Borrowers will be receiving an IRS Form 1099 from the United States Small Business Administration for the amount of the payments.
We’re here for you!
If you have questions regarding this matter, please contact Will Sailors at the NEDCO office by email will@nedcoloans.org or phone at (402) 483-4622.