The outbreak of the coronavirus (COVID-19) has forced many local businesses and organizations to close their doors, leaving owners wondering how they are going to deal with the loss of revenue and, in some cases, even how to survive. Thankfully, there will be some assistance for many small business owners as the U.S. Small Business Administration (SBA) recently announced that it will be offering low-interest federal disaster loans for working capital to small businesses in designated states and territories that have sustained substantial economic injury as a result of COVID-19.
This Client Alert, authored by Partner Anthony J. Zeoli, details how businesses and non-profits can apply for assistance.
