Klein & Rebbe, Inc

Check out this link and download the guide https://www.sbc.senate.gov/public/index.cfm/guide-to-the-cares-act

Here is a great site for information on how the Stimulus CARES Act is affecting our students: https://thecollegeinvestor.com/33324/coronavirus-stimulus-checks/

The full text is here: https://www.congress.gov/bill/116th-congress/house-bill/748/text

The prior post was for the SBA Disaster Loan Assistance program. This one is for the Paycheck Protection Program created via the stimulus package. https://www.sba.gov/funding-programs/loans/paycheck-protection-program Here is the article that talks about it: https://www.washingtonpost.com/business/2020/03/30/heres- how-get-small-business-loan- under-349-billion-coronavirus- aid-bill/ The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. The Paycheck Protection Program will be available through June 30, 2020. Information is coming out in dribs and drabs and I will try to keep everything collated here. If you have data to share, please email it to me and I will post it. That also allows me to target it to specific clients a...

This is a four page summary of what is available for small businesses. https://www.uschamber.com/sites/default/files/023595_comm_corona_virus_smallbiz_loan_final_revised.pdf To apply for a small business loan go here   https://covid19relief.sba.gov

Last week, the federal government passed the Coronavirus Aid, Relief, and Economic Stimulus Act (called the “CARES Act”), which has some helpful provisions for small businesses. New SBA Loan Program : Among other things, the CARES Act creates a program of federally guaranteed loans for small businesses, to provide funds for payroll and other expenses during the coronavirus crisis.  The loans will be provided through the Small Business Administration, and will be made by local banks and other financial institutions.  I know that Bank of America and Exchange Bank are making loans through the program; whoever your bank is, there is a good chance they will also be doing so. The only requirements to qualify for a loan are: (1) you must be a small business (fewer than 500 employees); (2) your business was in operation on 2/15/20; and (3) as of 2/15/20, you had employees for whom you paid salaries and payroll taxes, or you paid independent contractors for services.  You will n...