On Friday March 27, 2020 the United States passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Attached to this Post is a guide to the programs that may be available to your business. Call or email an attorney at Kelley, Kelley & Kelley to discuss ways we can help you obtain small business loan relief during these times.
What can the CARES Act do for your business?
- Capital Loans to help shore-up payroll. Paycheck Protection Loans (PPP) Loans. The Payroll Protection Loans may be available to provide loans to ensure you make payroll. Some of the advantages may include forgiveness of loans up to 8 weeks of payroll, no SBA fees, and deferrals of up to 6 months to a year. Call or email the attorney’s at Kelley, Kelley & Kelley to discuss ways we can assist you in navigating through SBA loans.
- Small Business Debt Relief. Increased funding for SBA 7(a), 504 and microloans. Our office has years of experience in helping our business clients navigate SBA loans and apply for loans that can help business weather these times and even expand during these times.
- Economic Injury Disaster Loans and Emergency Economic Injury Grants. These grants provide emergency funds up to $10,000 to small business and private non-profits harmed by the Covid-19 damage within 3 days of application. The advances do not need to be paid back. EIDL are low interest loans up to 2 million dollars with principal and interest deferment to cover expenses affected by the pandemic.
- Counseling and Training. Resources to help your small business obtain training and counseling services to help businesses affected by the pandemic weather these conditions.
- Small Business Tax Assistance. Refundable payroll tax credits for portions of wages paid by employers to certain employees during the pandemic.
Call or email the attorneys at Kelley, Kelley and Kelley to discuss the ways our office can help your small business. Our Schaumburg business attorneys are here to help your business obtain SBA loan relief and weather these difficult times. Our office works with businesses of all sizes and types. We have experience in consulting work, manufacturing, retail sales, commercial sales, trade groups, and countless other businesses.