Lallis and Higgins Blog

COVID-19 Relief Options - Quincy, Weymouth, MA

Joseph Coupal - Monday, April 27, 2020
Lallis & Higgins Insurance - Quincy, Weymouth, MA

Our nation's small businesses are facing an unprecedented economic disruption due to the COVID-19 outbreak. On Friday, March 27, 2020, the President signed into law the CARES Act, which contains $376 billion in relief for American workers and small businesses.

Funding Options

In addition to traditional SBA funding programs, the CARES Act established several new temporary programs to address the COVID-19 outbreak.

Paycheck Protection Program

This loan program provides loan forgiveness for retaining employees by temporarily expanding the traditional SBA 7(a) loan program. lean more here: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program

EIDL Loan Advance

This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties. Learn more here: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance

SBA Express Bridge Loans

Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. Learn more here: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-express-bridge-loans link

SBA Debt Relief

The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic. Learn more here https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief

Need more information on small business funding options? Click here https://www.sba.gov/funding-programs/loans/coronavirus-relief-options


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