1 April 2020
Afternoon all,
Attended a webinar this afternoon and found a fairly comprehensive presentation of programs available to small and mid-size businesses for financial assistance due to COVID-19. There is information and help to be found! Rather than try to recreate wheel ourselves, we are going to simply provide the link to the site so you can look at what you may find valuable. The information is changing regularly so bookmark the site. COVID19 Resource Center
Some key points:
Important Dates: 4/3/2020 and 4/10/2020 – dates you can start to fill out the applications you can find on the site for SBA EIDL (Economic Investment Disaster Loan) and PPP (Payroll Protection Plan) loans.
Part of the loan may be forgiven when used for approved expenses, but the parts that are not forgiven could be at interest as low as 1/2% (0.5%) with deferred payment for 6 to 12 months and longer term.
Do not get scammed – you do not have to pay out of pocked for any application fee. If someone says you have to pay to apply for the loan, they are wrong and possibly violating the law!
The following information is for information purpose only and is not exhaustive. It is intended only to help give RSIG members some direction about financial aid opportunities that may be available due to the COVID-19. It should not be considered as financial, tax or legal advice. IG., Inc./RSIG will not be held liable for any action taken (or refrained from being taken) in connection with the information concerned. In case of uncertainty, please seek professional financial, tax or legal advice.