Ghai Law Firm
Call for a free consultation:
(770) 792-1000
  • ABOUT
    • Testimonials
    • Join Us
  • Practice Areas
    • Personal Injury
      • Pedestrian Accident
      • Car Accidents
        • Speeding Accident
        • Drinking and Driving Accidents
        • Left Hand Turn Accident
        • Rear-End Collision
        • Reckless Driving Accident
        • Uber Accidents
        • Hit-and-Run Accidents
        • Texting and Driving Accident
          • Texting and Driving Under 18
      • Truck Accident
        • Lane Usage Accident
        • Traumatic Brain Injury
      • Product Liability
        • Defective Drugs
        • Defective Medical Device
      • Premises Liability
        • Slip and Fall Accidents
      • Wrongful Death
      • Dog Bite
    • Bankruptcy
      • Debt Relief
      • Credit Card Debt
      • Chapter 13 Bankruptcy
      • Chapter 7 Bankruptcy
      • Foreclosure Bankruptcy
      • Free Legal Case Review
      • Medical Bills Bankruptcy
      • Rebuild Your Credit
      • Wage Garnishments
  • Areas We Serve
    • Kennesaw Personal Injury Lawyer
      • Kennesaw Bankruptcy Lawyer
    • Acworth Personal Injury Lawyer
      • Acworth Bankruptcy Lawyer
    • Marietta Personal Injury Lawyer
      • Marietta Bankruptcy Lawyer
    • Smyrna Personal Injury Lawyer
  • FAQs
  • Blog
  • Videos
  • Contact

COVID-19 Financial Assistance

Home » Videos » COVID-19 Financial Assistance

Yes, this is Roger Ghai with Law Offices of Roger Ghai. I wanted to speak today during this COVID-19 crisis about some of the financial programs that are available to small business owners, and independent contractors, and self employed individuals.
One of the first programs is the Economic Disaster Injury Relief application that you can do. That application can be done at the www.sba.gov. If you go to that website, there’s in the upper right portion of the website, you can file an application for what is termed to be a forgivable loan or a grant. There’re not a lot of requirements on there. The top dollar amount that you can possibly get from one of those forgivable loans, in which can turn into a grant, it’s actually a grant, is up to $10,000. My understanding is of the producing of this video this morning is that that amount of that grant will be determined by how many employees you had. If you had, for example, one employee, you’re probably going to get like $1,000. The good part of that is that the $1,000 does not have to be repaid.
Now, some of you folks out there are small business owners, and so $1,000 is not going to be sufficient to be able to pay your payroll and everything. Congress has also enacted the Payroll Protection Program. And so, under that program, you can collect up to 2.5 times whatever your payroll is. Let’s say, for example, your monthly payroll is a $10,000. You could actually file an application for a loan, under that program, for $25,000. The beautiful part of that program is that, if you file the application and then you can show that you used at least 75% of that money on actual payroll, and you’re allowed to use it for other expenses, but so long as you can show that you use 75% of the $25,000 to pay your employees, including maybe yourself, then you can go ahead and take the proof that you actually did that, that you paid the payroll for two months, the program is limited to payroll of two months, back to your bank, and then the loan will be deemed forgivable, which is a great thing.
There are some difficulties sometimes with some of these banks processing these loans, in that some of the banks are limited to the amount that they can loan out. The other problem really has been is that the applications, some of the larger banks, such as Wells Fargo and Bank of America, at least initially, they were only accepting applications from their customers who had previous loans with them. And so, if that happens to you, what you’ll want to do is to go to another bank, maybe a small community bank, and then go ahead and do an application there. If I were in your shoes and you are a small business owner, you want to do this right away because the money appears to be running out very quickly. It’s unclear, right now, as to whether Congress is going to approve an additional $250 billion, which President Trump has requested from Congress. If you have any questions about the Payroll Protection Loan Program, or whether you find yourself in a position of needing to file bankruptcy because of this virus, please call my office at (770) 792-1000.

Bankruptcy Blog Posts:

Bankruptcy Filings Continuing To Rise In 2010

Due to high unemployment and an uncertain economic climate, consumer bankruptcy filings in America have increased in 2010. According to statistics reported by the American Bankruptcy Institute, a

Chapter 7 Bankruptcy and Chapter 13 Bankruptcy Comparison

Good Morning, this is Roger Ghai of www.Chapter7attorneys.com. I wanted to do a little informational video on bankruptcy options. In particular, Chapter 7 bankruptcy options and Chapter 13 bankruptcy

Filing Chapter 7 Bankruptcy – January 2010 Talk Law Radio Show Transcript

Janice: Good afternoon Atlanta and welcome to News & Talk 1380 WAOK. This is Janice Mathis and we’re here this afternoon and every Sat. afternoon at 1pm to talk with one of our lawyers who’s

Difference Between Chapter 13 & Chapter 7 Bankruptcy – March 2010 Talk Law Radio Show Transcript

Janice: Good afternoon Atlanta and welcome to Legal Talk. This is Janice Mathis. This is my favorite hour of the weekend. I learn something new every weekend talking to these brilliant lawyers we have

Bankruptcy FAQ:

Bankruptcy FAQ
Bankruptcy FAQ

Frequently Asked Questions: Table of Contents Who is permitted to file and maintain a chapter 7 case? Who should not file a Chapter 7 case? Is there anything that a person must do

Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy
Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy

The injunction is formally issued pursuant to 11 U.S.C. 362(a), commonly referred to as the Automatic Stay provision of the bankruptcy code, and it prohibits creditors from making further attempts to

Can Your Home Be Sold In Bankruptcy If You Don’t File Bankruptcy But Your Spouse Files Bankruptcy?
Can Your Home Be Sold In Bankruptcy If You Don’t File Bankruptcy But Your Spouse Files Bankruptcy?

In a recent case, In re Beck Mrs. Beck filed for bankruptcy protection but her husband did not. Together they owned a property which was valued at about $530,000.00. The property had actually been in

Can You Claim A Homestead Exemption In A Home You Do Not Live In?
Can You Claim A Homestead Exemption In A Home You Do Not Live In?

The Chapter 7 trustee objected to Mrs. Goulakos’s claim of exemption because she did not live in the house and because she was not the one who claimed the homestead exemption under Massachusetts

Free Case Evaluation

Convenient and Confidential

    Frequently Asked Questions

    Bankruptcy FAQ

    Bankruptcy FAQ

    Can You Keep Your House If You File For Chapter 7 Bankruptcy?

    Can You Keep Your House If You File For Chapter 7 Bankruptcy?

    Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy

    Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy

    Let Ghai Law Fight For You.

    We’re here to provide help when you need us. Fill out this form below and I’ll reach out to discuss your case.

      Ghai Law Firm
      Call for a free consultation:
      (770) 792-1000

      Office Location

      LAW OFFICES OF ROGER GHAI

      1301 SHILOH RD NW STE 430

      KENNESAW GA   30144

      Mon-Fri: 9AM - 6PM

      Important Links

      • About
      • Practice Areas
      • Areas We Serve
      • Contact

      Practice Areas

      Personal Injury Lawyer Bankruptcy Attorney

      Ghai Law Firm

      Cobb County, Marietta, Kennesaw, Acworth

      "The Attorney"

      Site Map
      © Copyright 2023 Law Offices of Roger Ghai
      • ABOUT
        • Testimonials
        • Join Us
      • Practice Areas
        • Personal Injury
          • Pedestrian Accident
          • Car Accidents
            • Speeding Accident
            • Drinking and Driving Accidents
            • Left Hand Turn Accident
            • Rear-End Collision
            • Reckless Driving Accident
            • Uber Accidents
            • Hit-and-Run Accidents
            • Texting and Driving Accident
              • Texting and Driving Under 18
          • Truck Accident
            • Lane Usage Accident
            • Traumatic Brain Injury
          • Product Liability
            • Defective Drugs
            • Defective Medical Device
          • Premises Liability
            • Slip and Fall Accidents
          • Wrongful Death
          • Dog Bite
        • Bankruptcy
          • Debt Relief
          • Credit Card Debt
          • Chapter 13 Bankruptcy
          • Chapter 7 Bankruptcy
          • Foreclosure Bankruptcy
          • Free Legal Case Review
          • Medical Bills Bankruptcy
          • Rebuild Your Credit
          • Wage Garnishments
      • Areas We Serve
        • Kennesaw Personal Injury Lawyer
          • Kennesaw Bankruptcy Lawyer
        • Acworth Personal Injury Lawyer
          • Acworth Bankruptcy Lawyer
        • Marietta Personal Injury Lawyer
          • Marietta Bankruptcy Lawyer
        • Smyrna Personal Injury Lawyer
      • FAQs
      • Blog
      • Videos
      • Contact