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SBA

EIDL – $10,000 Grants

mhalderman April 6, 2020April 14, 2020 Banking law, Bankruptcy, Business Law, COVID-19, Creditors Rights, General Interest, Small Business

[Update April 14:   The SBA has notified Applicants that Despite prior promises of $10,000 per applicant, they are only advancing $1,000 per employee as of the January 31, 2020 Payroll.] The first $10,000 of funds  advanced under Economic Injury Disaster…

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EIDL – Economic Injury Disaster Loan

mhalderman April 6, 2020April 10, 2020 Banking law, Business Law, Business Reorganizations, COVID-19, Small Business

Eligible Small Businesses may borrow up to $2 million, with a fixed interest rate not to exceed 3.750 percent (2.750% for nonprofits)  with loan terms of up to thirty (30) years under the Economic Income Disaster Loan (EIDL) Program. We…

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State of Connecticut Emergency Bridge Loans

mhalderman March 29, 2020March 29, 2020 Banking law, Bankruptcy, Business Law, Business Reorganizations, COVID-19, General Interest, Small Business

The State of Connecticut announced last week that it was making $50 million (doubled from the original $25 million) available for a short-term emergency small business loan program.   Businesses with under 100 employees that were profitable before March 10,…

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