Small Business Owner’s Guide to the CARES Act – Update on Paycheck Protection Program Loans

The U.S. Senate Committee on Small Business and Entrepreneurship prepared a very practical guide for small business owners containing valuable information about the new small business assistance programs within the COVID-19 (Coronavirus) Aid, Relief and Economic Security Act (also known as the CARES Act).  This guide is a very helpful resource for all small business owners dealing with the financial disruption caused by the coronavirus pandemic.  Click here to access The Small Business Owner’s Guide to the CARES Act.

We at Brody Wilkinson have attorneys well versed in each of the SBA loan programs, the application process and other beneficial provisions of the CARES Act.  We are working on a detailed client update on the CARES Act that we will be sending shortly.  In the meantime, we wanted to mention that the first day that Paycheck Protection Program loan (part of the CARES Act) applications can be submitted by small businesses and sole proprietorships is this Friday, April 3.  The funds for the program are limited, and demand is expected to be high, so we encourage interested clients to submit their applications as soon as possible.  We are recommending that clients contact their regular commercial banker to submit an application.

We hope that you, your families and your work colleagues are healthy and safe during this difficult time.  The attorneys at Brody Wilkinson are all working remotely but coming to the office when necessary.  We are meeting with many clients by phone or via videoconference.  Please contact Tom Walsh or your regular Brody Wilkinson attorney with any questions.

 

 

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