Press Releases | National Retail Solutions

COVID-19 Updates and Resources

Small business owners in all U.S. states, Washington D.C., and territories are currently eligible to apply for a long term low-interest loan due to Coronavirus (COVID-19). Learn More
Paco Cares

NRS CARES!

At NRS, we understand how disruptive the COVID-19 pandemic can be to our partners and customers, and we are deeply committed to helping your business during this challenging time. We are all in this together! Below you will find useful resources.


This page and resources herein are being provided by NRS for informational purposes only.

For the most accurate and up to date information, we recommend you contact your accountant to secure the information you will need to complete the applications for the loan that best suits your business.

We also recommend that you contact your bank with regards to the Payroll Protection Program loan to get up to date information on how you can apply for this loan and documentation requirements.

If you chose to apply for both loans, note that the purpose or use of the loans cannot be the same.

CARES ACT RELIEF

 
In response to COVID-19, Congress recently passed the CARES Act, providing companies with relief through loans and tax benefits. For those interested, you can request an immediate advance of $10,000 for a federal Economic Injury Disaster Loan here. Learn more below about the relief available under the CARES Act.1
Economic Injury Disaster Loans (EIDL)
Amounts: Up to $2 million  
Forgivable Amounts: $10k forgivable advance if spent on certain expenses  
Apply: Click Here

AND

Paycheck Protection Program Loan (PPP)
Amounts: 2.5x monthly payroll, up to $10 million  
Forgivable Amounts: 8 weeks expenses forgivable, must keep all employees on payroll  
Apply: Available now, apply with an SBA approved bank. Here is the application

Economic Injury Disaster Loan (EIDL)

  • Covers expenses like payroll, fixed debts, employee sick pay, accounts payable, and other costs.
  • Available for up to $2 million, but you can also apply for an immediate advance of $10,000 for certain expenses — and you won’t be required to pay it back if your loan application is later denied.
  • Up to 30 years with an annual interest rate of 3.75%.
  • For small businesses with under 500 employees.
  • Apply here.

Paycheck Protection Program Loan (PPP)

  • Forgivable for eight weeks of payroll, rent, mortgage interest, or utilities expenses if you keep all employees on payroll.
  • Available for up to 2.5 times your average monthly payroll costs, up to $10 million.
  • Used to cover payroll, health insurance, medical or family leave, insurance premiums, debt interest, mortgage obligations, rent, and utilities.
  • For small businesses with under 500 employees (or certain businesses, including restaurants in some cases, with more than 500 employees)
  • Up to 10 years with an annual interest rate of 4%;
  • Loans are available from private lenders, and are now accepting applications. Contact your bank or an approved SBA lender to apply. Also here is the application.

Videos

NOTE: Third party videos and resources are being provided here for educational purposes. The information on SBA programs is constantly evolving. We recommend consulting a qualified professional for the most updated information.

NOTA: Los videos y recursos de terceros se proporcionan con fines educativos. La información sobre los programas de la SBA está en constante evolución. Recomendamos consultar a un profesional calificado para obtener la información más actualizada.

EMERGENCY SESSION: ALL YOU NEED TO KNOW ABOUT APPLYING FOR PPP

This video is provided courtesy of and with permissions from Engineered Tax Services, Inc.

PPP A SIMPLE EXPLANATION IN SPANISH

This video is provided courtesy of and with permissions from Simple Tax and Bookkeeping, Inc.



520 Broad Street

Newark, NJ 07102

1-833-289-2767
Info@nrsplus.com



Copyright © 2020 National Retail Solutions, Inc. All Rights Reserved. Privacy Policy | Sitemap