To our agency partners:
These are challenging times for businesses all around the world. The uncertainty, travel bans, social distancing, and the ASRM guidelines for COVID-19 have dramatically slowed down the ART Industry. We are all feeling the impact.
Thankfully, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020. We have carefully studied the law and are happy to answer any questions and share our perspective with our valued agency partners. At this time, we recommend that all impacted businesses apply for a small business disaster relief loan through the SBA.
These affordable loans will be easy to qualify for, offer excellent payment terms, and provide needed capital during this slowdown. The primary purpose of the new loan program is to cover payroll, rent, and utilities. Even better, for many businesses, a significant portion of the loan will be forgiven. If you do not need the cash now, you should still consider pursuing approval. During economic slowdowns, cash is king. If you find yourself not needing the funds, you can always pay the loan back early without penalty.
For your reference, we have included two articles that accurately summarize the bill for small businesses:
We are all facing this unforeseen crisis together. If you would like to discuss any concerns with us in more detail, please reach out directly to Adam, Brock, or Roland.
- Adam Winder, MBA- [email protected]
- Edward “Brock” Brockschmidt, MBA, CPA – [email protected]
- Roland Salloum Esq – [email protected]
We are wishing you all the best. Be well, friends.