GABB COVID-19 Meeting April 7: Recording

GABB held a Zoom chat session April 7, 2020 to discuss aid available to independent contractors like business brokers and other small businesses.

 

During the meeting, GABB Affiliate Kim Eells said she and other SBA lenders have been working 18-hour days to try to process all of the applications from current customers, and most are not able to service the requests of non-customers.

 

GABB Affiliate Attorney Wendy Kraby said there had been a moratorium on foreclosures of federal loans, and talked about the implications for other loans.

 

Former GABB President Greg DeFoor, who is also a CPA, said that many experts have differing opinions about the requirements for applying for various loans and grants provided under the CARES act, and the situation is constantly changing with the crisis.

 

Greg provided the following document from the SBA about applying for Paycheck Protection Program loans.

 

The GABB compiled an article about the Economic Injustry Disaster Loan grant program from information from New York state, UGA, and our SBA lenders.

 

The SBA provides the following link to a streamlined application process for its Economic Injury Disaster Loan Program, which they estimate will take two hours and ten minutes to complete.

 

The GABB plans to hold another meeting next Tuesday, April 14, at 10 a.m. to update members about disaster aid available.

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