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SBA Economic Injury Disaster Loan and the CARES Stimulus Act

Monday, April 6, 2020

2:00 - 3:00 p.m. eastern time
(1:00 - 2:00 p.m. central time; 12:00  - 1:00 p.m. mountain time; 11:00 a.m. - 12:00 p.m. pacific time)

This program is free of charge but you must register to attend.

Robert Steiner, District Director, Illinois District, Office of Field Operations, with the U.S. Small Business Administration (SBA) will discuss programs available through SBA to support businesses as they navigate the economic injury disaster loan (EIDL) program. He will also share insights into additional relief under the Coronavirus Air, Relief and Economic Security (CARES) Act which passed on March 27, 2020, including the Paycheck Protection Loan Program (PPP), available on April 3, 2020.

Key terms of the EIDL loan:
• Up to $2M working capital loan with terms up to 30 years
• Small business and most private non-profits are eligible to apply
• 3.75% interest rate for small business and 2.75% for non-profit
• First payment deferred for 12 months

Key terms of PPP:
• Authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis
• Loan proceeds used to cover payroll costs and most mortgage interest, rent and utility costs over the 8 week period after the loan is made
• Interest rate at 0.50%
• Loan payments deferred for 6 months
• Forgivable loan if used for payroll costs

MODERATOR
Aurora Austriaco, President-elect, National Conference of Bar Presidents

SPEAKER
Robert Steiner, District Director, Illinois District, Office of Field Operations, U.S. Small Business Administratio

 


Bar Leaders Respond to COVID-19

Watch these NCBP videos to see how bar leaders are providing services to their members in this trying time. 

 

Interview with Alabama State Bar President, April 2, 2020

NCBP Interview with Connecticut Bar Association President Ndidi Moses, April 3, 2020

Interview with Idaho State Bar President and Immediate Past President, April 2, 2020

Beverly Hills Bar Association Coronavirus Business Impact & Legal Aspects, Recession 2020, Risks & Opportunities - Malcolm McNeil

 


Watch a Previous Session

 

March 26, 2020 >> Leading in a Time of Crisis with former State Bar of Arizona CEO and Executive Director John Phelps; a joint program with the ABA Division for Bar Services
 
January 8, 2020: Bars Helping Ease Access to Justice in Rural America
Handouts: 

 

November 19, 2019: 19th Amendment at 100: How Your Bar Organization Can Take Part In This Civics Engagement Opportunity with ABA President Judy Perry Martinez
Find out more about the ABA 19th Amendment Commission and tools to help your bar celebrate.

 


 

PRIOR SESSIONS

Click here to watch a previously recorded session. Please note that per-recorded sessions are only available to NCBP members. 

 

Please note: It can take up to 60 seconds for the video to begin after clicking on the link