GET LEGAL ASSISTANCE WITH YOUR SMALL BUSINESS DEBT
The novel coronavirus (COVID-19) is hurting small businesses around the country, including those right here in Colorado. If your small business faces economic hardship due to the recent pandemic, you can apply for a low-interest federal loan to keep your business afloat and help with your small business debt.
Our business law attorneys can help you apply for the loan so that you are in the best position to maximize benefits available to you. Reach out for a phone case assessment. Call 303-688-0944 or schedule online.
Unfortunately, some small businesses will be denied loans. If the SBA turns down your request, we can assist you with your appeal. Our attorneys can help you develop an argument that gives you the best chance of winning your appeal.
The Small Business Administration (SBA) will make loans available to affected communities in states and territories that request Economic Injury Disaster Loan assistance.
MORE ABOUT THE LOANS
The loans can be used to pay salaries, fixed debts, accounts payable, and other bills.
Small businesses and private, not-for-profit organizations that do not have other available credit are eligible for the loans. The interest rates for small businesses and non-profits are 3.75% and 2.75%, respectively.
Repayment options are based on the borrower’s ability to repay. The SBA offers long-term repayment options, up to 30 years in some cases. The loan’s terms are determined on a case-by-case basis.