Coronavirus Economic Aid
With the Shelter-in-Place directive extended to May 3rd, we are experiencing unprecedented and stressful times. We hope the following will be helpful as we face the extraordinary challenges before us.
As you may be aware, the federal government has recently passed the Coronavirus Aid, Relief and Economic Security Act (commonly known as the “CARES” Act). It has been publicly reported that this legislation contains various programs and initiatives which will be administered through the Small Business Administration to provide financial assistance to business owners in navigating this difficult economic climate. We encourage you to investigate whether any financial assistance is available to you pursuant to the CARES Act; however, be advised that we have not reviewed the CARES Act in detail, nor have we investigated the particulars or applicability of any particular program. We are not offering any specific detail or guidance with respect to the CARES Act which you may rely upon in any way and are not providing any assurance that you will qualify for any assistance.
To assist your understanding of the potential relief available to your business, here are a number of articles and resources addressing the CARES Act as well as State and Local resources available to you:
- Please read this announcement from the NAIOP, the Commercial Real Estate Development Association. It includes important links to the SBA loan program and an essential fact sheet for borrowers.
For California and Bay Area relief, the following article may provide valuable information on relief efforts for your business:
- San Francisco Business Times: click here for their resource guide for companies and workers affected by Covid-19.
For Federal relief, as referenced on the Small Business Administration’s website, please visit the following:
- For Small Business Guide and Loan Resources page, click here.
- For a local SBA office contact, click here.
- For a list of the most active SBA lenders, click here.
For other informative articles, please visit the following
- From Forbes, click here.
- From the Washington Post, click here.
- From the Economic Innovation Group, click here.
- From Sheppard Mullin, click here.
- From Farella Braun + Martel, click here.
Again, please consult with your financial and legal advisors as you determine the best course of action for your business and employees.
Be well and know that our thoughts are with you.