- $321 billion increase for the Paycheck Protection Program's forgivable loans to cover payroll and other fixed costs for small businesses ($60 billion is reserved for smaller lenders)
- $50 billion for Economic Injury Disaster Loans for small businesses
- $10 billion for Economic Injury Disaster Grants - up to $10,000 (limit $1000 per employee)
- payroll costs (as defined above)
- mortgage interest,
- certain utility payments.
- Can be used to pay fixed debts, payroll, accounts payable, other bills that cannot be paid, and refinance other long-term debts
- Maximum interest rate for small businesses is 3.75%
- Maximum interest rate for non-profits is 2.75%
- Loan terms - maximum of 30 years
- Loan Amount limit - $2,000,000.00 (loan limit will be waived if business is a major source of employment)
- Available to small businesses in NYC's five boroughs that have one to four employees, that have been operating for more than six months, and have no current tax liens or legal judgments.
- Can be used to cover 40% of payroll costs over the course of two months
- Loan Amount limit - $27,000
- Loan Requirement- must be able to show that the business lost 25% of their revenue due to the coronavirus.
Economic Injury Disaster Loan
The Lawyers of Distinction is pleased to announce that Adam Kalish of Brooklyn, has been certified as a member. The Lawyers of Distinction is recognized as the fastest growing community of distinguished lawyers in the United States. Lawyers of Distinction shall not offer membership to more than 10% of attorneys in any given state. Members are accepted based upon objective evaluation of an attorney's qualifications, license, reputation, experience, and disciplinary history. Please see www.lawyersofdistinction.com for further details concerning membership qualification.
2018 is off to a great start! Law Firm of Adam Kalish is on Expertise.com list of the Best Litigation Attorneys in Brooklyn for 2018.
Combining Two Co-ops Or Condos https://nyti.ms/2tj0dSt
Stars Under 40 strut their stuff at awards event http://brooklynreporter.com/story/stars-under-40-strut-their-stuff-at-awards-event/
The true story of the city's unfair property taxes http://bit.ly/2qrjO0O via @crainsnewyork
Landlords furious over possible bedbug disclosure law http://nyp.st/2pc1JVl via @nypmetro
A record number of New Yorkers are contesting their property tax bill http://bit.ly/2nTQkHZ via @crainsnewyork