Don’t Let COVID-19 Stop Your Business. Information regarding Cares ACT, Unemployment Guidelines, SBA Disaster assistance, and more..
This legislation is aimed at providing relief for individuals and businesses that have been negatively impacted by the coronavirus outbreak. While that is great news, in and of itself, here’s a look at some of the key provisions included in the bill and what that may mean for you:
COVID-19 ECONOMIC INJURY DISASTER LOAN APPLICATION
The Act includes $10 billion for grants, which provide an emergency advance of up to $10,000 to small businesses and private nonprofits harmed by COVID-19 within three days of applying for an SBA Economic Injury Disaster Loan (EIDL). This money does not have to be repaid even if the business is denied for the loan.
To apply for the SBA Economic Injury Disaster Loan click on the link below.
FORECLOSURES AND EXECUTIVE ORDER 106
All foreclosures/evictions are suspended for the next 60 days based on Executive Order 106.
New Jersey REALTORS & COVID-19
Obviously the COVID-19 pandemic is having a huge affect on the real estate industry and questions regarding unemployment benefits are arising. Real estate professionals will be eligible to apply for unemployment benefits, under the new “Pandemic Unemployment Assistance” temporary Federal-state program if they are unemployed due to an inability to work as a direct result of COVID-19.
Information regarding unemployment benefits and much more for not only realtors but homeowners, buyers and independent contractors, can be found at narfocus.com.