Frequently Asked Questions: Financial Assistance for Small, Mid-sized and Distressed Sector Businesses

Jim Argionis and Steven Dickinson wrote a white paper in conjunction with Gallagher on guidance in regard to the CARES Act and what this means for different types of businesses. They discuss the Paycheck Protection Program and who exactly is eligible to receive this loan. The Act provides eligible loan recipients with access to Payroll Protection Loans through June 30, 2020. During this period, any business concern, 501(c)(3) nonprofit organization, 501(c)(19) veterans organization, or Tribal small business concern may be eligible. They also answer frequently asked questions regarding the types of documentation that is required to receive the payroll protection loan forgiveness, the loan terms and what other small business programs are available. Every state, territory, and the District of Columbia, have been declared disaster areas for purposes of COVID-19, allowing small businesses nationwide to access additional emergency funding.

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James G. Argionis

Member

jargionis@cozen.com

(312) 474-7904

Steven J. Dickinson

Co-Chair, International Practice

sdickinson@cozen.com

(612) 260-9051


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