A Six Foot Look at the Business, Loan, and Tax Reform Legislation In Response to COVID-19

LOAN ASSISTANCE PROVISIONS -

Express Bridge Loan Pilot Program:

Unilateral pronouncement of the SBA-

• While not part of the CARES legislation, the SBA announced as a response to COVID19, small businesses that currently have a business relationship with an SBA Express Lender may access up to $25,000 with less paperwork. These loans may provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loan or used to bridge the gap while applying for a direct SBA Economic Injury Disaster Loan. If a small business has an urgent need for cash while waiting for a decision and disbursement an Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan...

Please see full Publication below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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