Hope everyone is hanging in with all of the craziness. We’re optimistic the stimulus package can help us all battle against the impact the virus is causing on all of our businesses. With that said, below are two webinar opportunities that can help you during these uncertain times. Both are being hosted by fellow IFA suppliers that Fish has had close relationships with for more than a decade. Faegre’s is a group webinar tomorrow and Boefly’s offering 1×1 sessions with companies. I encourage all to take advantage of the content and support these companies are offering.
We’ll continue to share useful information and guidance as available. Stay safe!
BoeFly, an expert at franchise finance, has agreed to schedule webinars for our clients to cover SBA’s new loan program to address the crisis. This program is different and meaningfully better than the Disaster Relief Loans some your franchisees may be aware of today. We’ll likely only need 15 minutes to summarize the loan program and how to apply. Here are some highlights:
Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) – SBA Loan
- Loan proceeds used to maintain payroll and costs related to debt obligations during 3/1-6/30 shall be eligible for forgiveness.
- Historically low rates, with up to 12 month deferments available.
- No SBA fees (including guarantee fee); no BoeFly fee.
- BoeFly, in partnership with select lending partners, has designed a low-doc application.
- Note: Congress and SBA are still finalizing the program but it’s critical that we get your franchisees queued up as soon as possible. Applications accepted here: https://franchisor.
boefly.com/crisis-capital/sba- loan-application/
Let me know if you are interested and we’ll connect you with BoeFly to coordinate.
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