Small businesses that are affected by the coronavirus pandemic may be eligible for disaster (EIDL) loans and/or Paycheck Protection Program or other loans to help keep them afloat. With PPP applications starting April 3, 2020, a loan application deadline of June 30, 2020 and a funding cap, small businesses will need to act quickly to determine whether to apply for assistance. We expect significant interest, since disaster loans now include a $10,000 loan advance that does not need to be reimbursed, and in light of the PPP loan forgiveness provisions.
Please Click Here to view a client advisory that may be useful to you in making loan application decisions at this time. We will continue to monitor these matters closely, as additional guidance will be forthcoming. If you have any questions about small business relief from COVID-19, please contact Jeanne Solomon, Esq. - email@example.com or Lawrence Hirsh, Esq - firstname.lastname@example.org .