Articles

Print
CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY - CARES ACT - 1.0 out of 5 based on 1 vote

User Rating: 1 / 5

Star ActiveStar InactiveStar InactiveStar InactiveStar Inactive
 

CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY - CARES ACT

 

The Small Business Administration (SBA) and the Department of Treasury have implemented the CARES Act to help small business owners and entrepreneurs obtain some relief from the negative financial effects of the coronavirus (COVID-19). The information presented herein has been compiled from a variety of government sources and is meant as a resource for MSC customers and interested parties.

To apply for a COVID-19 Economic Injury Disaster Loan, click here.

Check for your EIDL application status here. Click Here

PAYCHECK PROTECTION PROGRAM

The Paycheck Protection Program (PPP) provides small businesses with funds to pay up to 2 1/2 months of payroll costs, state and local taxes, sick leave, vacation, including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities. Small businesses with 500 or fewer employees are eligible, including veterans’ organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors. Additional details can be found in the PPP Overview and the CARES ACT LAW. 

Small businesses and sole proprietorships can apply beginning April 3, 2020.

Independent contractors and self-employed individuals can apply beginning April 10, 2020. 

Participating Banks

PNC Online Bank Click Here
Bank of America Click Here
EagleBank Click Here
Sandy Springs Click Here
BB&T Bank Click Here

Download the Paycheck Protection Program Application

 

ECONOMIC INJURY DISASTER LOANS AND LOAN ADVANCE 

The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans to overcome the temporary loss of revenue they are experiencing due to a disaster. A special application has been put in place to deal with revenues losses due to COVID-19. Access the COVID-19 application here.

To learn about other SBA programs related to COVID-19 relief, visit the SBA Disaster Assistance website.

UCC Electronic Filing, Search & Retrieval by State

Uniform Commercial Code (UCC) filings allow creditors to notify other creditors about a debtor’s assets used as collateral for a secured transaction. UCC liens filed with Secretary of State offices act as a public notice by the "creditor" of the creditor's interest in the property.

Maryland UCC Filing MD UCC
Virginia UCC Filing VA UCC
Washington DC UCC Filing DC UCC
Other States NASS