Two news organizations reported this week that the U.S. Small Business Administration (SBA) has made changes to its COVID-19 Economic Injury Disaster Loan (COVID-19 EIDL) program to help small businesses that have been unable to repay their loans.
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SBA Extends EIDL Payment Deferment
The U.S. Small Business Administration has announced it will extend the deferment period of principal and interest payments for businesses that received a COVID Economic Injury Disaster Loan. The deferment gives COVID EIDL borrowers an extra six months of payment relief, thereby extending the total deferment period to a total of 30 months from the inception of all approved COVID EIDL loans.
Continue readingSBA Extends Payment Deferment Periods
Business owners with SBA disaster loans will have a little more time before they have to start making payments. The U.S. Small Business Administration announced it is extending deferment periods for all disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program, until 2022. (Scroll down to see the March 24 update about increased loan limits!)
Continue readingWESST and Client Navigate Pandemic Problems Together
When the novel coronavirus pandemic reached the U.S. early this year, many patients stopped seeking in-person treatment at The Family Connection, a mental-health provider with offices in Albuquerque, Rio Rancho, Los Lunas and Santa Fe. Even though the business was considered essential and thus permitted to operate during statewide shutdowns, cancellations escalated.
“Initially we were unsure of what it was going to look like,” said Amanda Davison, a licensed marriage and family therapist and company CEO. She and her 32 employees developed a hybrid approach, treating some patients in traditional settings and counseling others using online telemedicine platforms.
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