Information At Your Fingertips
Keeping You Informed
#TeamWashwick hopes you are staying safe in this difficult and unprecedented time. We are providing Friday's update on what will affect your business & employees during this time.
We have included some information below and seperatley attached PDF information, applications and direction.
CARES RELIEF ACT:
In the recent 2 trillion dollar CARES Act Economic Relief Plan, there is $349 Billion allocated to help small businesses with less than 500 employees. You can click on the link below to apply for an SBA COVID-19 Disaster Loan, with loan forgiveness for 8 weeks of salaries, rent, utilities and a $10,000 loan advance deposited into your checking account within 3 days of your approved application.
Also find this information attached.
Paycheck Protection ProgramThe Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.
Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.
Under this program:
o Eligible recipients may qualify for a loan up to $10 million determined by 8 weeks of prior average payroll plus an additional 25% of that amount.
o Loan payments will be deferred for six months.
o If you maintain your workforce, SBA will forgive the portion of the loan proceeds that are used to cover the first 8 weeks of payroll and certain other expenses following loan origination.
Click here to learn more.
If Link doesn't work utilize the copy and paste below:
Economic Injury Disaster Loans and Loan AdvanceTo apply for a COVID-19 Economic Injury Disaster Loan, click here.
If Link doesn't work, utlize the copy and paste below:
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.
The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.
#TeamWashwick A Team for ALL your insurance needs.
Please don't wait to reach out to the Team! We are here to help.
Chief Operating Officer
The Washwick Agency, Inc.
860 East Main Street
Riverhead NY 11901