EMERGENCY UPDATE — Friday, April 3 — To our clients: Late last evening, the Small Business Administration (SBA) released a 31-page document which changes or clarifies some of the criteria of the Paycheck Protection Program (PPP) – one of the loan programs for which many businesses are currently applying. We have just learned that, as […]
April 1 2020
EMERGENCY UPDATE — Wednesday, April 1 — To our clients: With each passing day, more details are released regarding the two programs being offered by the Small Business Administration (SBA) to provide financial assistance to small businesses. Yesterday’s Coronavirus Update (March 31, 2020) provided an overview of these programs, as well as links to the […]
March 31 2020
EMERGENCY UPDATE — Tuesday, March 31 — To our clients: As some of you are already aware, as part of the CARES Act signed into law on Friday, March 27, 2020, the Small Business Administration (SBA) is offering two programs to provide financial assistance to small businesses. The first program is a disaster assistance loan, […]
March 31 2020
EMERGENCY UPDATE — Tuesday, March 31 — Pennsylvania’s disaster declaration has been approved by SBA and businesses are able to apply for an SBA Economic Injury Disaster Loan (EIDL) online at https://disasterloan.sba.gov/ela.
EMERGENCY UPDATE — Tuesday, March 31 — From the introduction to the guide: “The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses. Importantly, these loans may be forgiven […]