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.