The Federal government recently issued a temporary pause on grant, loan, and other financial assistance programs to align them with Presidential priorities. The order covers “all Federal financial assistance programs” as defined in 2 CFR 200.1, but “does not include assistance provided directly to individuals.”

A federal judge has temporarily halted the Presidential pause on grants, loans, and other financial assistance programs. The judge’s order indicates the courts need additional time to consider the implications of the pause.

The order will expire on February 3, 2025, at 5:00 pm; however, the judge has scheduled a hearing for the same day to determine whether a longer stay is necessary.

This means Growth Capital Corp can continue to deliver 504 and CA loans to small businesses during the temporary stay. We will continue to work on SBA 504 and Community Advantage loan applications and servicing needs.

We anticipate that the SBA will continue to accept loan applications during this time. We also expect that the SBA will continue to fund take-out loans.

Please contact us with questions at 216-592-2332.