Protect your family. Protect your business. Stay up to date.
Six-month loan deferrals for 504 borrowers starting April 1, 2020
Under the CARES Act, 504 borrowers are relieved of any obligation to pay the principal, interest and any associated fees that are owed on a 504 loan in a regular servicing status for a 6-month period beginning with payment due on a loan starting April, 1, 2020. These 504 payments will be made on their behalf by the U.S. Small Business Administration (SBA).
Six-month loan deferrals for 7(a) borrowers starting March 27, 2020
Under the CARES Act, 7(a) borrowers are relieved of any obligation to pay the principal, interest and any associated fees that are owed on a 7(a) loan in a regular servicing status (including Community Advantage loans) for a 6-month period beginning with the first payment due on a loan after March 27, 2020. These 7(a) payments will be made on their behalf by the U.S. Small Business Administration (SBA).
Paycheck Protection Program (PPP) offers 8 weeks of forgivable loan payroll assistance to save jobs
Under the CARES Act, small businesses with 500 or fewer employees can start being submitting applications as of April 3, 2020, to participate in the Paycheck Protection Program (PPP) available from the U.S. Small Business Administration (SBA). While limited funds last, the PPP can provide up to 8-weeks of funding in the form of loans that will be fully forgiven when used for payroll costs and benefits, interest on mortgages, rent and utilities.Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels.Eligible employers are those with 500 or fewer employees, including nonprofits, veterans’ organizations, tribal concerns, self-employed individuals, sole proprietorships and independent contractors. https://SBA.gov/coronavirus
$10,000 forgivable advance offered to businesses who apply for an SBA Economic Injury Disaster Loan (EIDL)
Under the CARES Act, the Economic Injury Disaster Loan (EIDL) from the U.S. Small Business Administration (SBA) now offers a $10,000 advance to be paid within three days of online application submission, whether your business is eventually approved or not for an SBA EIDL. The goal is to provide working capital to businesses experiencing temporary loss of revenues due to COVID-19. Businesses are urged to apply now for an EIDL and the $10,000 advance.
https://covid19relief.sba.gov/#/
Under the CARES Act, 504 borrowers are relieved of any obligation to pay the principal, interest and any associated fees that are owed on a 504 loan in a regular servicing status for a 6-month period beginning with payment due on a loan starting April, 1, 2020. These 504 payments will be made on their behalf by the U.S. Small Business Administration (SBA).
Six-month loan deferrals for 7(a) borrowers starting March 27, 2020
Under the CARES Act, 7(a) borrowers are relieved of any obligation to pay the principal, interest and any associated fees that are owed on a 7(a) loan in a regular servicing status (including Community Advantage loans) for a 6-month period beginning with the first payment due on a loan after March 27, 2020. These 7(a) payments will be made on their behalf by the U.S. Small Business Administration (SBA).
Paycheck Protection Program (PPP) offers 8 weeks of forgivable loan payroll assistance to save jobs
Under the CARES Act, small businesses with 500 or fewer employees can start being submitting applications as of April 3, 2020, to participate in the Paycheck Protection Program (PPP) available from the U.S. Small Business Administration (SBA). While limited funds last, the PPP can provide up to 8-weeks of funding in the form of loans that will be fully forgiven when used for payroll costs and benefits, interest on mortgages, rent and utilities.Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels.Eligible employers are those with 500 or fewer employees, including nonprofits, veterans’ organizations, tribal concerns, self-employed individuals, sole proprietorships and independent contractors. https://SBA.gov/coronavirus
$10,000 forgivable advance offered to businesses who apply for an SBA Economic Injury Disaster Loan (EIDL)
Under the CARES Act, the Economic Injury Disaster Loan (EIDL) from the U.S. Small Business Administration (SBA) now offers a $10,000 advance to be paid within three days of online application submission, whether your business is eventually approved or not for an SBA EIDL. The goal is to provide working capital to businesses experiencing temporary loss of revenues due to COVID-19. Businesses are urged to apply now for an EIDL and the $10,000 advance.
https://covid19relief.sba.gov/#/
Women of LBB
BANKING
US Bank, Elizabeth Wade, elizabeth.wade@usbank.com
Bank of Franklin County, Alicia Rogge, alicia@bankfc.com
Community State Bank of Missouri, Nichole Frichtel, nfrichtel@c-s-b.com
Providence Bank, Samantha Travis, stravis@myprovidencebank.com
PAYROLL
Solutions by Shaver, Jill Shaver, jill@solutionsbyshaver.com
CPA
Cavin CPAs and Advisors, Stacy Cavin, stacy.cavin@cavincpa.com
Pivotal Point Accounting, Amy Williamson, amy@pivotalpointaccounting.com
HUMAN RESOURCES
People Solutions Center, Kathy Fleming, kathy@peoplesolutionscenter.com
US Bank, Elizabeth Wade, elizabeth.wade@usbank.com
Bank of Franklin County, Alicia Rogge, alicia@bankfc.com
Community State Bank of Missouri, Nichole Frichtel, nfrichtel@c-s-b.com
Providence Bank, Samantha Travis, stravis@myprovidencebank.com
PAYROLL
Solutions by Shaver, Jill Shaver, jill@solutionsbyshaver.com
CPA
Cavin CPAs and Advisors, Stacy Cavin, stacy.cavin@cavincpa.com
Pivotal Point Accounting, Amy Williamson, amy@pivotalpointaccounting.com
HUMAN RESOURCES
People Solutions Center, Kathy Fleming, kathy@peoplesolutionscenter.com
Other Community Resources
HEALTH
World Health Organization, https://www.who.int/emergencies/diseases/novel-coronavirus-2019/events-as-they-happen
Centers for Disease Control, https://www.cdc.gov/coronavirus/2019-nCoV/index.html
St Charles County Public Health, https://www.sccmo.org/394/Public-Health
Lincoln County Health Department, https://lchdmo.org/
St Louis County Health and Wellness, https://www.stlouisco.com/Health-and-Wellness
FINANCIAL
St Charles County Economic Development Commission, Jeremy Fettig, jfettig@edcscc.com
US Department of Labor, https://labor.mo.gov/coronavirus
World Health Organization, https://www.who.int/emergencies/diseases/novel-coronavirus-2019/events-as-they-happen
Centers for Disease Control, https://www.cdc.gov/coronavirus/2019-nCoV/index.html
St Charles County Public Health, https://www.sccmo.org/394/Public-Health
Lincoln County Health Department, https://lchdmo.org/
St Louis County Health and Wellness, https://www.stlouisco.com/Health-and-Wellness
FINANCIAL
St Charles County Economic Development Commission, Jeremy Fettig, jfettig@edcscc.com
US Department of Labor, https://labor.mo.gov/coronavirus
