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SBA Paycheck Protection Program - CARES ACT - Coronavirus Federal Stimulus

What you should know about the U.S. Small Business Administration's (SBA) Paycheck Protection Program.

4/7/2020

Coronavirus Relief - Small Business Administration Loans

What We Are Telling Fellow Small Business Owners

If you have not already talked with your accountant or financial advisor, we recommend you review the programs under the SBA for economic relief relative to the CARES Act.

There are several programs that are likely applicable to you.

Paycheck Protection Program Loans Could Be Forgivable

The Paycheck Protection Program could provide you with a “forgivable” loan for 2.5 months of payroll (salary, wages, not payroll taxes), utilities and rent and subject to certain requirements would be a forgivable loan.

The funds for these programs are limited. While President Trump has stated he will ask Congress for more money, if you have not applied, you should consider doing that TODAY, as it is FIRST COME FIRST SERVED on the funds.

Here is a link to the program via Chase bank. There are many links to this program on the web if you do not bank with Chase.

Please consult with your own accountant, financial and tax advisors. This blog post is not to be construed as any financial or tax advice relative to whether you should or should not participate in these programs. For those of you with payroll to manage, and leased building space to pay for, these programs may help you better absorb the economic impact of the current crisis.

Best Regards,
Your friends at Slide-Lok: Brian, Matt and Samuel.

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Bank of America sees booming rescue loan demand, with applications for nearly 10% of program

Posted: 4/6/2020

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  • Bank of America that it’s seen fierce demand for rescue loans with applications already accounting for nearly 10% of the entire amount allocated by Congress.
  • The bank confirmed that it has received applications from 177,000 small businesses for a total of $32.6 billion in financing.
  • The current numbers are applications and do not represent the sums the Small Business Administration has approved.

Source: CNBC

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Slide-Lok Is The Most Trusted Name In Garage Makeovers Since 1977

Solid Products, Great Prices, and Timely Technical Support since 1977! Slide-Lok Garage Interiors is the oldest, longest continuing garage makeover brand in North America. We were the first one stop shop garage makeover for storage systems and flooring. We were also one of the first outfits to offer polyaspartic floor coatings to the residential garage flooring market. Our leading polyaspartic coatings have been in use on garage floors for nearly two decades, our competitors can't make that claim. We also manufacture and sell epoxy coatings that are great for indoor floors.

There are Authorized Slide-Lok Garage Flooring and Storage dealers all over the US and Canada that can transform your boring and dull garage into your dream garage. Every garage tells a different story, let us help tell yours.

So what are you waiting for, get your FREE ESTIMATE today: Contact Slide-Lok Garage Interiors.

Become a Slide-Lok Floor Coating & Cabinet Dealer

Expand your contracting business, there are more opportunities when you carry Slide-Lok Garage Interior products. Slide-Lok is your one stop shop for garage flooring and storage solutions since 1977. Inquire today and discover the benefits of Slide-Lok Garage Interiors.

About The Author

About the author

Brian Strayer is an engineer, lawyer, and business leader. Brian’s past adventures include many years advising the top leaders of a NYSE listed multi-national on a wide variety of matters, from intellectual property to M&A, including serving as head of the legal department, before transitioning into running industrial operations. Today, Brian uses his science, engineering and law background to solve practical problems standing in the way of reducing expenses and growing sales. When not working, Brian enjoys sailing, playing chess, fishing and hunting.

Keywords: small, business, sba, ppp, paycheck, protection, program, forgivable, loan, rent, payroll, utilities

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Contact Local Dealer

Find a Slide-Lok Garage Floor & Cabinet dealer in your area.

Call: 1-800-835-1759
E-mail: Click to e-mail.

Featured Blog Posts