Important Update Regarding Disaster SBA Loans

We are here to help you.  

It disturbs us to announce that today we have learned that three clients appear to have contracted the COVID-19 Virus. None have been confirmed. So please be careful out there, especially if you have an impaired immune system.  

Important News 

SBA has declared the states of New York, New Jersey and Connecticut emergency disaster areas. Therefore, businesses are eligible for emergency loans. Also, last night the Senate approved a massive stimulus package that contains provisions to assist small businesses in their recovery.  

As in past disasters, the Small Business Administration will be processing the disaster loan requests. It is our experience, especially in cases like this, that the process for applying for assistance is time consuming due to the volume of requests.  

The SBA requires a lot of personal and business information which we may not be privy to. If we pause during this process to obtain answers to certain questions, we inevitably get thrown off the system and are unable to access the website until the following day. Therefore, it will be much faster if our clients complete the attached worksheets in full and either begin the application themselves or forward the completed worksheets to us. D&F will not start an application unless the worksheets are completed in full. 

Kindly complete the applications below to begin the process.

SBA Company Information Application

SBA Corporate Financial Information Application

SBA Personal Financial Information Application

Please be patient as the volume of businesses applying is tremendous and we need to go on during the off hours. 

For our NYC clients NYC has two programs to assist small businesses: 

NYC Employee Retention Grant Program: 

  • NYC is offering small businesses with fewer than 5 employees a grant to cover 40% of payroll costs for two months to help retain employees 

NYC Small Business Continuity Loan Fund: 

  • Businesses with fewer than 100 employees who have seen sales decreases of revenue of 25% or more will be eligible for zero interest loans of up to $75,000 to help retain employees and ensure business continuity 

https://www1.nyc.gov/site/sbs/businesses/covid19-business-outreach.page 

To begin your application please visit the above website.  

Remember to practice social distancing and above all please protect your health. 

We are here for you.  

Diapoules & Feinstein CPAs P.C.