In partnership with Harter Secrest & Emery, DeJoy, Knauf & Blood delivered a webinar on how small business may benefit from loan programs under the CARES Act. Note: The SBA issued new guidance as recently as April 3, 2020. Find our most recent article on this program here – Understanding the SBA Guidance Issued Yesterday: Banks Start Accepting SBA Loan Applications Under the CARES Act.
Key Points Covered:
- Economic Injury Disaster Loan (EIDL) – who can apply, how much can you receive, how can you use the money, what are the terms, and application process and requirements
- Paycheck Protection Program (PPP) – who can apply, affiliation rules, how much can you receive, definition of payroll costs, how can you use it, application process and requirements, and loan forgiveness
- Applying for both EIDL and PPP
- Further relief for small business through the SBA – payment on existing loans and express bridge loans
- Tax Opportunities – employee retention credit, employer payroll taxes, income tax amendments and future savings
We are here to help business owners navigate these uncertain times. As part of our commitment to help, we have developed a loan application tool to help business owners understand the exact data they need to gather, in order to access funding opportunities, and to format information in a way that can be presented to the bank. If you would like more information on this tool please reach out to firstname.lastname@example.org, or fill out the contact us form, and a member of our team will be in touch within the same day.