Pennsylvania small business owners and their employees are particularly suffering right now. Although Governor Wolf has ordered most businesses to close physical locations, as well as issuing “Stay at Home Orders” for Philadelphia and its surrounding counties, no provision has been made to help small business owners make payroll, pay rent and utilities, insurance, etc. With no income, but no reduction in expenses, how can many businesses remain afloat? The lawyers at Baratta, Russell & Baratta might be able to guide you through these rough waters. Please don’t hesitate to call.
One way a small business owner might get help is through a loan offered through the Small Business Association (SBA). The SBA’s Disaster Loan Assistance will offer up to $2 million in loans to help overcome temporary loss of revenue. The loans may be used to make payroll, pay for fixed debts, and other bills that can’t be paid due to the crisis. The interest rate is 3.75% (2.75% for non-profits) payable over as long as 30 years.
A loan can be requested by:
- Call: 1-800-877-8339
- Email: disastercustomerservice@sba.gov.
- Website: https://disasterloan.sba.gov/ela/ for a loan application
The deadline for economic disaster loans is December 21, 2020. The small business owner must submit tax returns and financial statements.
Some small businesses may carry Business Interruption Insurance as a part of their Commercial Policy. A business owner should contact his or her insurance agent to learn if this coverage is included in the policy and how you might make a claim.
The rights of citizens to access the Courts, even during a National and State emergency, is guaranteed by our Constitution. The courts remain open for filing important legal pleadings and motions electronically. Emergency equity civil matters such as injunctions and stays, and any pleading or motion relating to public health concerns involving immediate and irreparable harm, can still be addressed by the Courts today.
Baratta, Russell & Baratta, although closed to personal client meetings, is available to continue to address all of our client’s needs and to assure that access to justice is secure.
The following are some additional resources for businesses or individuals looking for information or some assistance during this time:
Business Resources for Coronavirus Pandemic from the PA Chamber of Business and Industry:
https://www.pachamber.org/coronavirus/
Pennsylvania’s primary state webpage for information: https://www.health.pa.gov/topics/disease/coronavirus/Pages/Coronavirus.aspx
Pennsylvania medical society primary webpage for information:
https://www.pamedsoc.org/education-cme/public-health/corona-virus
The Center for Disease Control and Prevention:
The President’s Coronavirus Guidelines for America:
https://www.whitehouse.gov/wp-content/uploads/2020/03/03.16.20_coronavirus-guidance_8.5x11_315PM.pdf
Families’ First Coronavirus Response Act information:
Personal conversations with Parents and Loved Ones about the Pandemic:
