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The CARES Act Emergency Support for Small to Midsized Businesses - PowerPoint PPT Presentation

Sep 02, 2022 •346 likes •484 views

The CARES Act Emergency Support for Small to Midsized Businesses & Nonprofits A Few Housekeeping Items Subm itting a Question To submit a question, type it into the question panel Support Docum ents Terence L. Lau, JD Glen A. Thomas, 83

  1. The CARES Act Emergency Support for Small to Midsized Businesses & Nonprofits

  2. A Few Housekeeping Items Subm itting a Question To submit a question, type it into the question panel Support Docum ents

  3. Terence L. Lau, JD Glen A. Thomas, 83 Dean College of Business Founder & Partner https://tysllp.com/ California State University, Chico

  4. LEGISLATION • H.R 6201 • CARES Act • Loans Available – EIDL, EEIG and PPP • Other?

  5. Who Is Eligible for a PPP? • Virtually All Small Business • Certain Not For Profits • In Business on February 15, 2020 – documentation required • Other Issues - Affiliation • Excluded Businesses

  6. How Much May I Borrow & On What Terms? • $349B in Loans Available • No More than $10M – 1 st Come 1 st Served • Terms o Interest – 1% o Maturity – 2 years o SBA guaranteed o No borrower guarantee or collateral o Payments deferred for minimum of 6 months o Only one loan

  7. Anything Else Of Interest? • Loan Forgiveness

  8. Who Do I Borrow From? Uncle Joe? • Banks / Credit Unions / Farm Credit System Institutions/ • Other comments

  9. Current Status Supporting Documentation • Who Is Funding • Loan Template • Who Is Getting Funded • Forgiveness Template – Beta • RIN 3245-AH34 • SBA FAQ 2020 04 06

  10. OFFER Glen Thomas gthomas@tysllp.com

  11. Log in to Sign up: https://csuchico.firsthand.co Contact Tami Adams: tladams@csuchico.edu

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