Copyright 2020.Donaldson Legal Counseling PLLC. .
All Rights Reserved.

No more money in Paycheck Protection Program! So What Now?

Donaldson Legal Counseling > Legal Advice  > No more money in Paycheck Protection Program! So What Now?

No more money in Paycheck Protection Program! So What Now?


Did you apply for the Paycheck Protection Program and did not receive any funds?

#1. Keep Applying – The CARES Act states that to be eligible for a PPP loan an eligible borrower need only apply between Feb. 15, 2020 and June 30, 2020. It is likely that more funding will be allocated! Don’t lose hope – Be Proactive! You want to be in line if more money is allocated!

Where to apply?  Find a lender willing to keep accepting applications while waiting on the new funding. Newtek is one: https://partners.newtekone.com/caresact/business-lending/

#2. SBA Bridge Loan – Non-forgivable. You must apply through an SBA Lender already approved to issue Express Bridge Loans before the Disaster and meet other qualifications. https://www.sba.gov/partners/lenders/7a-loan-program/pilot-loan-programs

#3. Main Street Lending Program – ***NEW*** For companies with over $250,000.00 before interest, taxes, depreciation and amortization (EBITDA), a new lending program is under way by the Federal Reserve. No forgiveness is anticipated to be involved though. For more information visit:  https://www.federalreserve.gov/monetarypolicy/mainstreetlending.htm

Need Help on Your Business Strategy, Laying Off Legally, or other Employment Advising?

Get One Hour of Legal Strategy Advising for $250.00 – Reserve Your Time Here: https://calendly.com/donaldsonlegal/one-hour-consultation-discounted-rate

Are you managing a camp in Summer 2020? Read our latest legal blog about Legal Considerations for Summer Camps 2020

Are you a CPR/AED instructor? Did you want to know if CPR Training an “Essential Service”? Click on the link to read more information.

Email us to set an appointment at counsel@dlcesq.com.

Click Here to get a 10 minute free consultation

Donaldson Legal Counseling PLLC https://www.attorneylawny.com

Tiffany A. Donaldson, Esq., Principal counsel@dlcesq.com

Admitted to Practice in NY, DC, MD, FL (inactive) and VA (Corporate Counsel only)

438 41st St. No. 3, Brooklyn, NY 11232

(301) 332-2354