The $2 Trillion federal stimulus package implemented by the CARES Act includes much needed provisions to provide emergency funds to small businesses (>500 employees) to maintain their operations and payroll through SBA administered loans/grants.

What type of SBA program is right for my business?

The two primary programs are the Economic Injury Disaster Loan Emergency Advance (EIDL) and the Paycheck Protection Program (PPP). The EIDL provides an advance of up to $10,000 to businesses that are experiencing a temporary loss of revenue and will not have to be repaid. Applications for the EIDL are submitted directly to the SBA (link: tiny.cc/EIDL). The PPP provides for loans in varying amounts based on average monthly payroll and are processed through lenders. While no EIDL loans will never have to be repaid, the PPP loans may not need to be repaid so long as the loan proceeds are used for allowable expenses [payroll and other costs associated with maintaining the business (rent, mortgage, utilities, debt service, etc.)]. These programs can be of immense benefit to struggling small businesses (including sole proprietors) and qualifying individuals should seriously consider making applications for these programs to sustain themselves through these difficult times.  

Dealing with crises during the CCP Virus quarantine are trying to the best of us and continuing prayers go out to all that you remain safe and healthy. Notwithstanding Governor Wolf’s non-essential business designation for law offices in the Commonwealth of Pennsylvania and their present inability to personally meet with clients at the present time, the Law Offices Of Robert B. Liotta, Esq. in Lower Burrell, PA, is determined to render assistance during the CCP Virus shutdown in all ways consistent with the Governor’s Order, including remote assistance via telephone or video conference.  The Law Offices Of Robert B. Liotta, Esq. primarily and regularly render elder law services to clients, including Medicaid planning, estate planning and probate. Additionally, they have a wide network of legal practice colleagues to ensure that your needs are met in most substantive practice areas, if not by direct service by referral. Please call (724) 334-9870 to request service or visit their website to review services.