Great overview of SBA Loan Programs Prepared by the US Chamber of Commerce.
On March 27, 2020, the President signed into law the CARES Act. The rollout of certain relief provisions like the SBA loan program for wage, rents and utilities may take several weeks to be up and running. Again, with the regular caveat that things are moving fast, here is a list of the CARES Act provisions that we believe to be particularly applicable to small business owners and individual taxpayers:
The U.S. Small Business Association has created a Power Point presentation with information about the Economic Injury Disaster Loans.
Taxpayers now have more time to file their tax returns and pay any tax owed because of the coronavirus (COVID-19) pandemic. The Treasury Department and IRS announced that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020.
The #BHAMSTRONG Small Business Loan Fund is LIVE: What is the purpose of the loan? To immediately support small businesses affected by COVID-19 who are awaiting state or federal relief funding or a more stable business environment. Approved loans must be used to support one or more of these efforts: Limit reductions in payroll or…
Alabama Department of Labor Secretary Fitzgerald Washington has temporarily ordered that relief be offered to employers whose employees must file unemployment compensation claims for weeks filed due to COVID-19 related issues.
The Coronavirus has significantly impacted many of our clients. The SBA is making available Disaster Relief Loans to help businesses to get through this event.
On Wednesday, March 18, 2020, the U.S. Senate passed the House version of the FFCRA and President Trump signed the bill a few hours later. It will become effective within 15 days and expires on December 31, 2020.
Alabama Announces Support for Workers Impacted by COVID-19. A News release from the Alabama Department of Labor.
A message from Dent Moses on COVID-19