Help for Small Businesses Affected by Coronavirus
SBA Coronavirus (COVID-19) Disaster Relief
The U.S. Small Business Administration is offering low-interest disaster assistance loans for working capital to small businesses that have been affected by the Coronavirus (COVID-19). These loans, known as Economic Injury Disaster Loans (EIDL), can be used for ordinary and necessary operating expenses that are becoming a financial hardship for business that have been affected. These loans can be used for payroll support, mortgage payments, rent payments, and any other operating expenses needed to sustain the small business’s operation during this hardship. The proposed SBA budget to make direct low-interest loans to small businesses will not be enough to aid approximately 30 million small businesses. Small business should act quickly and apply as soon as possible to secure funding for Coronavirus relief while it is still available.
Coronavirus Relief for Businesses - Program Details:
Loans up to $2 million
Fixed low interest rates: 3.75% for small businesses, 2.75% for non-profits
Up to 30-year loan term
Payment deferment for first year
Why should you seek assistance in applying for The SBA Economic Injury Disaster Loans (EIDL)?
The application process for EIDL can be overwhelming for those already buried in financial stress. A complete and thorough application to SBA is important to ensure your application is processed quickly and the money you need is provided immediately. An incomplete application or disorganized application may result in SBA’s request for additional information, documentation or clarifications. This could delay your application’s approval or ultimately deny it, resulting in a lack of funding at a critical time for your business.
We understand the stressful time COVID-19 may be causing small businesses, and the application for an SBA Disaster Loan should not be an added burden. Kresser, Corona & Associates has decades of experience with a streamlined small business loan process, and the ability to expedite applications and avoid delays. Our Firm underwrites SBA loans and applications for many clients that include National Lenders for quick approval. Determining your specific requirements is based on the analysis of your business's historical financial information.
You should be cautious of fraudulent firms and individuals that might be offering this service. Whether or not you choose Kresser, Corona & Associate, please consider the following as a words of advice:
Rick Kresser, the founder of Kresser, Corona & Associates in 2007, was employed by the SBA for 18 years in a senior management position. While he was employed by the SBA, he played an integral role in providing assistance to those that were financially impacted by disasters. He has direct experience in the SBA’s disaster loan processing and the approval process.
Kresser, Corona & Associates has been approved by the SBA as a Service Provider to assist our clients and many active SBA lenders.
Make sure that the Firm that you select to assist you is reputable and experienced in SBA lending procedures prior the Coronavirus (COVID-19) outbreak. It is very important to research the Firm you select to assist you to determine if it has had any complaints filed against it.
Be mindful of the confidence that comes when working with knowledgeable and highly dependable SBA Firms that have historically served clients nationwide.
Ensure that the advice and assistance provided by any Firm is legitimate. A Firm should determine your eligibility before you pay any fees.
Make sure that the loan amount you are applying for is reflective of your needs and repayment ability.
We understand your interest in Disaster Assistance Loans, however, not all businesses are eligible. We recommend you get an assessment before you enter a contract or start paying fees.
If you are interested in our small business COVID-19 assistance, a conference call will be scheduled with our Firm’s Senior Management to discuss the specifics of your business’ condition and determine early on, whether your business is a good candidate for the SBA Economic Injury Disaster Loans (EIDL) Program.
How can Kresser, Corona, & Associates help your small business?
As a nation leading SBA Service Provider, we can assist you with the analysis, packaging, completion, submission, and any SBA correspondence during the review process to ensure that you loan application is processed accordingly.
The impact of financial losses related to COVID-19 will be felt for years to come, but these low-interest loans can help you bridge the gap between economic losses now and economic recovery in the future. We are dedicated to assisting businesses with their long-term financial success. The public health and safety of our communities is important to us, and we plan to continue to support businesses that value the same.
We hope that this information is helpful to you.
Find out how we can help your small business affected by the Coronavirus (COVID-19).
Schedule a free consultation today.
Call us at (818) 440-0055 or schedule your free consultation below.