Updated guidance on SBA economic disaster loans

April 1, 2020

Blog Post

The U.S. Small Business Administration (SBA) has provided additional guidance regarding the $10,000 forgivable loan advance in accordance with the CARES Act. To be eligible for the $10,000 forgivable loan advance, businesses will need to complete the new application that launched March 30 even if they have already competed one of the prior versions of the application or if the business has already been declined for a loan.

Additional information is included in the communication below from the SBA:

We know you are facing challenging times in this current health crisis. The U.S. Small Business Administration is committed to help bring relief to small businesses and nonprofit organizations suffering because of the Coronavirus (COVID-19) pandemic.

On March 27, 2020, President Trump signed into law the CARES Act, which provided additional assistance for small business owners and non-profits, including the opportunity to get up to a $10,000 Advance on an Economic Injury Disaster Loan (EIDL). This Advance may be available even if your EIDL application was declined or is still pending, and will be forgiven.

If you wish to apply for the Advance on your EIDL, please visit www.SBA.gov/Disaster as soon as possible to fill out a new, streamlined application. In order to qualify for the Advance, you need to submit this new application even if you previously submitted an EIDL application. Applying for the Advance will not impact the status or slow your existing application.

Last month the Ohio Supreme Court appeared to have settled a question as to whether public bodies found to have violated the Open Meetings Act, R.C. 121.22 — the statute that generally requires public bodies to deliberate and make decisions out in the open — may cure their violations by simply redoing in the open what they failed to do in the first place.

The Ohio Senate continues to consider whether to adopt a measure advanced nearly unanimously by the Ohio House that would authorize many public bodies to conduct meetings virtually.

The Ohio Supreme Court determined that a township’s mailing and email lists, used for the purposes of distributing newsletters to residents and businesses, were subject to the Public Records Act, R.C. 149.43

Updated guidance on SBA economic disaster loans

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