Navigating SBA Disaster Relief Loans. What does it mean for small businesses?
The SBA is making loans available to small businesses and private, non-profit organizations to help alleviate economic injury caused by COVID-19. Linda A. Collett will be sharing information she’s learned from the Kennesaw State University Small Business Development Center about these loans including how to apply and helpful tips and forms.
- SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
- These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
- SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
- SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal government’s coordinated response.
Linda A. Collett is a business attorney and founder of The Collett Law Firm, a boutique business law firm in Marietta, Georgia. She helps solopreneurs to owners of multi-million dollar companies avoid the stress and expense of legal problems, so they can focus their time, energy, and money on starting, growing, or selling their business rather than responding to legal hassles. One of her specialties is writing contracts in plain English.
During this unprecedented time for businesses, she is focused on making sure that every business owner has the single most important legal document they need during a pandemic. Ask her what it is!
For the past fourteen years Linda has been actively involved in ProWIN. She has served on ProWIN’s Board for over seven of those years, as president in 2013 and 2018, and currently serves on ProWIN’s Advisory Board.
Linda A. Collett
The Collett Law Firm
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