As 2022 draws to a close, small business owners like Karessa Jackson face the daunting reality that it's time to start repaying their federal pandemic loans.
Jackson, the owner of a collision and auto repair shop in Matthews, expects to soon start making monthly payments connected to her $500,000 COVID-19 Economic Injury Disaster Loan (EIDL).
"It may be a struggle," she said. "It would be great if we had another six months."
The Small Business Administration had deferred payments for the last two-and-a-half years, most recently in March at lawmakers' request.
That grace period is now ending in the midst of an uncertain economy with a possible pandemic looming.
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