COVID-19 Financial Relief
We’re here to help during the COVID-19 Pandemic.
Due to the COVID-19 Quarantine hundreds of thousands of people are being laid off and people are going to experience many different hardships as this the effects of this pandemic continue to unfold. This is a difficult and potentially devastating time for individuals and business owners alike. It’s during times like this we come together as a community and country.
The good news is the federal government just passed the Coronavirus Aid, Relief and Economic Security Act (CARES) to help reduce the economic disruption they face. Resources for small businesses including loans and grants. The maximum loan amount is capped at $10 million. Lenders will not require collateral or any personal guarantee as security for these loans, and the interest rate cannot exceed 4%. Businesses who have applied for an Economic Injury Disaster Loan in response to coronavirus may, during the 2020 fiscal year, request an advance of up to $10,000 (which does not have to be repaid, even if the loan application is later denied) to provide covered leave, maintain payroll, and pay debt obligations. Advances are to be made by the lender within three days of an application for such advance. Additionally, grant money will be made available to loan applicants and certain small businesses
This is a historic time and the Federal Government is taking historic steps with a $2 trillion economic stimulus package with a $349 billion loan program for small business. Never has so much money been pumped directly into the veins of the American free market. The money will be dispersed on a first come, first serve basis and when it’s gone, it’s gone. To review and apply for the programs you can visit the SBA directly at https://www.sba.gov/disaster-assistance/coronavirus-covid-19.
If you’re in need of capital and would like help don’t hesitate to contact us now to discuss what options are available for you
We wish you and your family the best. Remember to be smart, be safe, be adaptable and remember to think long-term.