Author: Calvin McRae

Extension of Phase 3 in North Carolina

Executive Order 176 Fast Facts North Carolina will remain in Phase 3 for an additional three weeks. Indoor gathering limits have also been reduced from 25 people to 10 people in an effort to mitigate increasing COVID-19 numbers that hurt our community and our businesses. Executive Order 176 takes effect on November 13th, 2020 at… Read More »

State of NC Announces New COVID-19 Relief

New Relief Funds Available If your business has experienced extraordinary business disruption and it has not been able to open due to the COVID-19 coronavirus pandemic, the new Mortgage, Utility and Rent Relief (MURR) Program may be able to offer assistance with some of your fixed costs. Eligibility for the MURR Program is limited to… Read More »

NC Approves Third Coronavirus Relief Bill

Governor Cooper signed House Bill 1105 into law after it was passed by North Carolina’s General Assembly. This is North Carolina’s third COVID relief package, and it allocates funds for the following: Small Business Grants Education PPE Child care services COVID testing The legislation provides specific relief in the form of a one-time payment of… Read More »

NC enters Phase 2.5 COVID-19 reopening on Friday

North Carolina is moving to phase 2.5 of Governor Cooper’s three-phased plan. The eased restrictions will begin at 5:00 p.m. this Friday. Phase 2.5 allows: Outdoor playgrounds can reopen. Indoor playgrounds can operate at 30 percent capacity, or up to seven people per 1,000 square feet. Museums and aquariums can operate at 50 percent capacity,… Read More »

PPP Loan Forgiveness Portal Opens August 10

Lenders can begin submitting applications for Paycheck Protection Program (“PPP”) loan forgiveness on August 10th. The Small Business Administration (“SBA”) provided this update last week in a document outlining procedures for the loan forgiveness process. The notice confirmed the SBA would open a portal specific to loan forgiveness. Only lenders will have access to the… Read More »

SBA EIDL Loans and Unemployment Boost Payments Ending

EIDL Loan Update The Small Business Administration (SBA) stopped processing Economic Injury Disaster Loan (EIDL) Advance requests on July 11th. As of now, the program funds have been fully allocated. By law, the SBA is not permitted to issue new EIDL Advances once all program funding has been obligated. Sunset Date of $600 CARES Unemployment… Read More »

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