{"id":5751,"date":"2020-03-23T12:53:28","date_gmt":"2020-03-23T16:53:28","guid":{"rendered":"https:\/\/acronline.com\/?p=5751"},"modified":"2020-03-27T14:40:53","modified_gmt":"2020-03-27T18:40:53","slug":"emergency-relief-loans-for-small-business","status":"publish","type":"post","link":"https:\/\/acronline.com\/es\/emergency-relief-loans-for-small-business\/","title":{"rendered":"Emergency Relief Loans for Small Business"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"5751\" class=\"elementor elementor-5751\" data-elementor-settings=\"{&quot;ha_cmc_init_switcher&quot;:&quot;no&quot;}\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-9932a15 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9932a15\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-54f849c\" data-id=\"54f849c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-629afb5 elementor-widget elementor-widget-text-editor\" data-id=\"629afb5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The Federal Government and some States have implemented Emergency and Disaster Relief Loans for Small Business. If your business has become affected by the COVID-19 pandemic, please find important information below:<\/p><p>Applicants may also call SBA\u2019s Customer Service Center at (800) 659-2955 or email\u00a0<a href=\"mailto:disastercustomerservice@sba.gov\">disastercustomerservice@sba.gov<\/a>\u00a0for more information on SBA disaster assistance.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-04b1e5c elementor-widget elementor-widget-heading\" data-id=\"04b1e5c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Resources by State<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-165afc4 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"165afc4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.sba.gov\/funding-programs\/disaster-assistance\" target=\"_blank\" rel=\"noopener\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-chevron-circle-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Small Business Administration<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/commerce.maryland.gov\/fund\/maryland-small-business-covid-19-emergency-relief-loan-fund\" target=\"_blank\" rel=\"noopener\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-chevron-circle-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Maryland<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/mayor.dc.gov\/release\/mayor-bowser-announces-dc-businesses-can-now-apply-sba-disaster-assistance-loans\" target=\"_blank\" rel=\"noopener\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-chevron-circle-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">District of Columbia<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.nfib.com\/content\/news\/virginia\/the-latest-info-for-small-business-on-covid-19\/\" target=\"_blank\" rel=\"noopener\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-chevron-circle-right\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Virginia<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cf6e60e elementor-widget elementor-widget-spacer\" data-id=\"cf6e60e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e7d0a60 elementor-widget elementor-widget-heading\" data-id=\"e7d0a60\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Requirements for State of Maryland<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6df0e99 elementor-widget elementor-widget-text-editor\" data-id=\"6df0e99\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>This COVID-19 Emergency Relief $75M Loan Fund offers working capital to assist Maryland for-profit\u00a0small businesses disrupted operations due to COVID-19. Loan assistance is intended to provide interim relief complementing actions with its bank, business interruption insurance, and financial partners.<\/p><div><h4>GENERAL TERMS\u00a0AND CONDITIONS<\/h4><\/div><div><div><ul><li>Loans up to $50,000 (not to exceed three months of cash operating expenses) open to Maryland businesses impacted by the COVID-19 with fewer than 50 employees.<\/li><li>0% for the first 12 months, and 2% for the remaining 36 months.<\/li><li>Deferral of any payments for the first 12 months, and straight amortization beginning in the 13th month through the 36th month.<\/li><li>Business must be established prior to March 9, 2020 and in good standing.<\/li><li>Two years of historical financial statements and most recent interim statement to benchmark revenue against (if available).<\/li><li>Six month pro forma of estimated lost revenue or other documented loss evidence.<\/li><li>Minimum personal credit score of 575.<\/li><li>No collateral requirements.<\/li><li>Eligible uses include: working capital to support payroll expenses, rent, mortgage payments, utility expenses, or other similar expenses that occur in the ordinary course of operations.<\/li><\/ul><div><span style=\"font-family: arial, helvetica neue, helvetica, sans-serif;\">\u00a0<\/span><\/div><div>The business must demonstrate financial stress or disrupted operations, which may include but are not limited to:<\/div><ul><li>Notices from tenants closing operations and not paying rent caused by loss of income.<\/li><li>Notice of inability to pay rent or make loan payments due to reduced sales, suspended operations.<\/li><li>Increased cost related to COVID-19 prevention measures.<\/li><li>Notice of disrupted supply network leading to shortage of critical inventory or materials.<\/li><li>Other circumstances subject to review on a case by case basis.<\/li><\/ul><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3dbf345 elementor-widget elementor-widget-button\" data-id=\"3dbf345\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/onestop.md.gov\/forms\/maryland-small-business-covid-19-emergency-relief-loan-fund-5e7a6d838bdbb100fe352aa9\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">MD Application<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>The Federal Government and some States have implemented Emergency and Disaster Relief Loans for Small Business. If your business has become affected by the COVID-19 pandemic,<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":5752,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/acronline.com\/es\/wp-json\/wp\/v2\/posts\/5751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/acronline.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/acronline.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/acronline.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/acronline.com\/es\/wp-json\/wp\/v2\/comments?post=5751"}],"version-history":[{"count":0,"href":"https:\/\/acronline.com\/es\/wp-json\/wp\/v2\/posts\/5751\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/acronline.com\/es\/wp-json\/wp\/v2\/media\/5752"}],"wp:attachment":[{"href":"https:\/\/acronline.com\/es\/wp-json\/wp\/v2\/media?parent=5751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/acronline.com\/es\/wp-json\/wp\/v2\/categories?post=5751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/acronline.com\/es\/wp-json\/wp\/v2\/tags?post=5751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}