SBABizHelp.com Educates on Available Loan Assistance

SBABizHelp.com Educates on Available Loan Assistance

By Community News / March 26, 2020

Bernie Navarro, founder of the Benworth Family of Companies, is taking a  leadership role to educate South Florida small businesses on the impending Small  Business Administration (SBA) loan relief program that is part of the Coronavirus  Aid, Relief, and Economic Security (CARES) Act. This proposal would provide over  $350 billion to small businesses. Companies with less than 500 employees could be  eligible for loans to cover payroll, rent or mortgage payments and operating  expenses. 

Two websites, SBABizHelp.com and SBAayuda.com, as well as social media  accounts were launched to educate consumers and provide updates as the Bill to activate the relief assistance works its way through Congress. 

“These are confusing and unsettling times,” said Mr. Navarro. “These new websites will create a central resource  for businesses to stay informed while we continue to add content and meaningful tools to increase awareness and  educate businesses. We are unsure of what is the process for them to get the funds needed to keep their doors  open, but we want to make it easier.” 

He continued to add, “Businesses have come to a grinding halt, and employers are making decisions by the  minute on how to handle payroll. We intent to create public awareness and let small business owners know that  the much-needed help to retain employees is on the way.” 

With over 20 years of experience in the real estate sector, Mr. Navarro founded Benworth Capital in 2008 to  provide borrowers a lending alternative to acquiring property. His passion for education encouraged him to found  and serve the first business charter high school created by a professional association in the United States, the  LBA Construction, and Business Management Academy. He’s also on the Board of Trustees for Miami- Dade  College and has been named Chairman. 

Recently, he opened Presto Payday to provide alternative financial services to unbanked community members,  including wire transfers, check cashing and bill payment. The business has suspended its cash advance loan  product to prevent borrowers from building up debt they cannot repay. 

“Small business loans in conjunction with the CARES Act will not only provide cash flow assistance, but also  provide forgiveness if they use funds to sustain payroll at pre-COVID19 amounts, make rent or mortgage  payments, and pay bills associated with regular operating expenses,” Mr. Navarro explained. “Like many others, it  is my duty to make resources available to help the community.” 

Presto Payday, located in Miami, is equipped with glass enclosed service windows. The contactless facility will be  made available to help the U.S. Treasury and the SBA deliver loan programs to Florida businesses, should it be  needed. 

For questions on how small businesses can get help to keep the business running and pay employees,  visit SBABizHelp.com. You can also send any inquiries to info@sbabizhelp.com