NJ Lawyers - Covid-19 Financial Aid Relief for NJ Business Owners

HACKENSACK, N.J. - March 27, 2020 - PRLog -- Congress just passed the Coronavirus Aid, Relief, and Economic Security Act ("CARES ACT") to provide emergent relief to individuals, families and businesses necessitated by the economic impact of COVID-19.

Although the funds advanced to businesses under the CARES ACT are considered a "loan", the repayment will be deferred for a limited time period and the debt will be forgiven if certain requirements are met, including the continuity of employment.

In addition, the new law provides one-time relief to certain individuals and couples based on income qualifications.  Qualifying individuals will receive a one-time direct payment of $1,200, and qualified couples will receive a one-time direct payment of $2,400.

Because the application is cumbersome and detailed, it is recommended that businesses consult with their accountants and their lawyers.

The law firm of LoFaro & Reiser, LLP is assisting small business owners in applying for COVID-19 financial relief under the CARES Act.  Click here (https://www.njlawconnect.com/contact_us/) to request a complimentary telephone consultation.

Read our blog post https://www.njlawconnect.com/covid-19-financial-aid-law-p... to find out more about how your business might qualify for financial aid relief.

About LoFaro & Reiser, LLP

A boutique law firm representing small to mid-size businesses in a variety of legal matters, including contract law, bankruptcy law, complex commercial litigation, and partnership disputes.