The coronavirus has taken an enormous human toll, and an economic one as well.
Many business owners have been forced into sweeping layoffs, or shuttering completely. But the newly- enacted cares act is offering relief.
The paycheck protection program provides 350-billion dollars, in the form of sba loans, and is available to companies in urgent need of cash flow assistance.
We’ve provided the link to apply below.
The measure generally targets business, nonprofits, tribal businesses and veterans organizations with fewer than 500 employees.
These federally insured, partially forgivable loans can be used to cover short-term operating expenses during the economic crisis.
The maximum loan size is equivalent to 250 percent of the employer’s average monthly payroll costs or $10 million, whichever is less.
It can also be used for rent, utilities, and interest on other debt obligations.
Here is another important point:
If you have already taken out at an SBA EIDL, economic injury disaster loan related to co vid- 19, you can refinance the Loan under this program and receive loan forgiveness benefits on the refinanced amount.
The program features are generous, the application process has less red tape than a typical SBA loan, and part or all of the loan may be forgiven, so start the process today. And if you need help call attorney Paul Burkart or visit paulburkhart.net