Meadows Urquhart Acree and Cook, LLP

  • Our Services
  • About Us
    • Meet Our Team
  • Our Culture
    • CPA & Accounting Careers
  • News & Resources
  • Contact Us
  • For Clients
    • Pay My Invoice
    • Send A File
    • Client Login
    • FAQs
  • COVID-19
    • Cash Flow Resources
    • SBA Loans & Financing Resources
    • State & Local Resources
    • Federal Resources
You are here: Home / Featured / SBA Loans and Financing Updates for Coronavirus

03/25/2020 by Michael (Mike) Edwards, CPA, CFE

SBA Loans and Financing Updates for Coronavirus

SBA Loans & Financing

We are keeping abreast of financing options in order to provide our clients with next steps in these trying times. We recommend talking to your banker before making any hasty decisions to see what options are available with your current loans. This could include interest only payments and potential deferrals. In addition, the Small Business Administration (SBA) has included COVID-19 affected businesses in their disaster loan assistance program, allowing for loans up to 2 million dollars to small businesses with an interest rate of 3.75% paid out over 30 years.  Additionally, the bill before Congress allows for eligible small businesses to receive up to 10 million dollars in loan support, most of which is expected to be converted to grants for which repayment would not be necessary. A key item to note is access to the funds derived from the bill would not be allowed for small businesses who have already received the SBA loan as it is currently drafted. Thus, understanding your options and the ramifications of your choices is critical in these uncertain times. Things are changing daily in Washington, that’s why we are here to help. Please contact us if you have questions.

Filed Under: Featured, SBA Loans & Financing

mm

About Michael (Mike) Edwards, CPA, CFE

Mike is a director at Meadows Urquhart. He specializes in providing audit and other assurance type engagements ranging from traditional financial statement audits to financial contract audits with public and private for-profit companies, as well as nonprofits and governmental entities. More about Mike.

We're Hiring!
We're looking for exceptionally motivated professionals to join our fast-growing team. Apply Now!

DID YOU KNOW …

Not only does Meadows Urquhart provide accounting and tax services, but we’re also forward-thinking CPAs & consultants who take the time to step into our clients' shoes. We offer services for businesses, high-net-worth individuals, nonprofits and hedge funds.

Find out more about our services.

In Your Shoes

We're proud to be a part of this client's success story. Click on the shoes to learn more.
TMI Consulting
TMI Consulting


Meadows Urquhart is a CPA & accounting firm located in Richmond, VA.

Our Location

1802 Bayberry Court, Suite 102
Richmond, Virginia 23226
Phone: 804-249-5786
Fax: 804-249-5781
Contact Us

AGN International member

Follows Us

  • Email
  • Facebook
  • LinkedIn
Certified QuickBooks Pro Advisor Bill.com Expert Certified Certified QuickBooks  OnlinePro Advisor

Get Our Newsletter

Copyright © 2021 Meadows Urquhart Acree & Cook, LLP • All Rights Reserved

Home • About • Contact • Services

A Kinetic Website