Helping small business owners impacted by the spread of Coronavirus.
Federal and State Disaster Loans Support for Businesses
Tarlow’s Coronavirus Disaster Loan and Capital Assistance team is committed to serving small business owners who are being impacted by the public policy measures to contain the spread of the Coronavirus.
We have assembled all of the programs available to provide relief and we are standing by to help you take advantage of these programs including the $50 billion in federal funding that has been set aside to aid small business owners across the nation. This program includes:
Economic Injury Disaster Loan (EIDL)
Up to $2 million loan max
Emergency EIDL Grant Award of $10,000
Up to 30-year amortization
Annual interest rate 3.75%
No prepayment penalties
Paycheck Protection Program (PPP)
Maximum loan equal to the lesser of (i) 2.25 times average monthly payroll costs over the prior year, or (ii) $10 million.
Eligible for tax-free loan forgiveness if used to pay payroll costs, rent, utilities and interest on mortgage obligations during the 8-week period following the loan’s origination (75% must be used for payroll costs).
Annual interest rate (if loan not forgiven) capped at 0.5%, with no personal guaranty.
Loan Term – 2 years
The loan process can be complicated, and we are here to help. Let Tarlow’s advisors help you prepare and submit your loan documentation right the first time. Get your money faster to get your business back on track.
Steps to Take:
The EIDL Loans will be Loans will be underwritten by the SBA and will not go through a bank underwriter as you would with a normal SBA Loan. They are estimating a 21-day processing and evaluation period, which could be longer based on demand. To get started, fill out the form to consult with a Tarlow Advisor.
The PPP program bill just recently passed, and banks are not quite ready to begin the underwriting process; however, at this point, we can discuss the program and begin gathering the necessary documentation.
Tarlow advisors will continue to perform research and create resources for companies that need help during the Coronavirus crisis. Once your complimentary consultation is complete, you may choose to have Tarlow advisors manage the entire process for you. Should you choose that option, we will provide a cost estimate.Alternately, after speaking with our team, you may choose to proceed with the SBA loan process yourself. If you choose this option, you are welcome to listen to Tarlow webinars and use our public resources at no cost.
Once you have completed the form, you will receive an email with next steps, including a link to schedule a call with a Tarlow advisor.
Tarlow & Co., CPA, PC | 7 Penn Plaza, Suite 210 | New York, New York 10001 | T: 212-697-8540 | F: 212-573-6805 | E: firstname.lastname@example.org