In the midst of this global crisis, we are pleased to announce confirmation that Florida condominium and homeowners’ associations, in addition to small businesses and other not for profit corporations, are eligible to receive Disaster Loan Assistance through the U.S. Small Business Administration. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the impact of the Coronavirus on your associations and businesses. The SBA offers loan terms of up to thirty years, with interest rates for not for profit corporations at 2.75% and for small businesses at 3.75%.
The attorneys and staff of Sachs Sax Caplan, P.L. stand ready, willing, and able to assist Florida condominium and homeowners’ associations, Florida not for profit corporations, and Florida small businesses in compiling and filing the applications and supporting documentation necessary to secure such assistance.