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Business Observer Tuesday, Mar. 31, 2020 4 months ago

Law firm provides update on business impact of CARES Act

Tampa-based Trenam Law offers guidance on how to obtain an Economic Injury Disaster Loan from the Small Business Administration.

TAMPA — Trenam Law, a Tampa law firm, is offering a wealth of valuable information, free of charge, for businesses that have been impacted by the COVID-19 economic crisis. 

In a blog post, Trenam outlines how businesses can benefit from the $350 billion that has been allocated to the Small Business Administration (SBA) via the Coronavirus Aid, Relief and Economic Security (CARES) Act. Firms that have suffered financial harm as a result of the pandemic might be eligible for a $10,000 Economic Injury Disaster Loan that can be disbursed within three days of a successful application. 

The post also explains why a Payroll Protection Program (PPP) loan might be a good option for companies that are worried about being able to retain employees. Additionally, it provides information about how to obtain relief from existing SBA loan payments that businesses are unable to make as a result of pandemic-related economic hardship.  

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