I am not a tax professional. I am not a loan professional. I am not an attorney. My area of expertise is real estate. I am a small business owner trying to survive during these trying times.
I have many friends that own their own businesses. We are all confused. I have been reading up as much as I can to try to understand what our options are. This is intended to be a simplified understanding of the loan options. Unfortunately, even in simplifying this, this summary is still 5 pages.
The information contained here is as best I understand it. If you have a different understanding of anything, please email me at email@example.com . I will update this blog as much as reasonable.
Here is the full text of the law if you want to read all 880 pages:
This law is very complex and addresses a multitude of different issues. I am simply trying to extract the information as it relates to small businesses navigating these unprecedented times. My overview is a simplified overview. There are certainly many rules and regulations. So please investigate and confirm information on your own.