As a part of the new legislation, the Small Business Administration (SBA) has created a nearly $350 billion loan program called the Paycheck Protection Program. This program is available to businesses with 500 or fewer employees to help with payroll, rent, utilities, healthcare costs and more. The SBA has also expanded a number of their existing programs, including the Economic Injury Disaster Loan program.
The federal government is currently finalizing the details and protocols about how and when different programs and relief will be implemented, and how Bank of America as a financial institution will help facilitate the execution of these programs.
If you believe that you will qualify for relief from the CARES Act:
Although details are still being finalized, some documentation may be required when applying for a program when it becomes available.
Based on the legislation, it may be helpful for interested business owners to gather the following information about their business:
If you would like to download an example of Payroll Protection Program application, here is a sample.
Apply for the COVID-19 Economic Injury Disaster Loan.
A proactive business is a successful business. That's why our team takes the time to make sure every client has a proactive, not reactive, business plan. Our strategies make your business run more smoothly and profitable.
Our training services help businesses identify and achieve their key performance indicators (KPIs). Whether it's increased revenue or higher satisfaction rates, our methods allow you to see immediate and continued results.
Our team of experts works hard to make sure your business gets personalized training. We'll work with your team one-on-one or in group settings to set and achieve your business goals. We develop training based on your goals!
We believe that people are the most valuable asset. We strive to provide outstanding benefits, life balance, leadership, and support to our team. We believe in helping people reach their greatest level of growth, contribution and satisfaction.