Close

Idaho Business Law Coronavirus and Your Idaho Small Business

By Lane V. Erickson, Idaho Business Attorney

At Racine Olson, we are here to help you and your Idaho small business through this Coronavirus pandemic. We have assisted our clients for more than 70 years in the creation and operation of their small businesses. Through this time, there have been numerous wars, varying economic catastrophes, natural disasters and other difficulties. Despite each of these things, Racine Olson has always been there for its business clients. We are here for you now!

While various health and government agencies and officials throughout the United States and the world are working to create and maintain the safety, security, and health of its citizens, small businesses are also encouraged to do their part in keeping themselves, their employees, and customers safe, secure and healthy as well.

Racine Olson provides this webpage to you during the Coronavirus pandemic as a resource to help you with your small business. We encourage you to review this webpage and our website often as we will be updating it with helpful information for you and your small business.

Paycheck Protection Program

One of the first pieces of information that we can provide you with is the Paycheck Protection Program that is being offered to millions of American small business owners. This program is a loan designed through the Small Business Administration (SBA) to provide a direct incentive for small businesses to keep their workers on payroll during the Coronavirus pandemic.

The loan is provided to a small business who has less than 500 employees. The loan is in an amount that is equal to 2 1/2 times a small businesses average monthly payroll. The loan will be fully forgiven if the funds are used for eight weeks’ worth of expenses including for payroll costs, interest on mortgages, rent, or utilities.

More details can be obtained from the SBA at the following website link:

https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp

SBA Debt Relief

Additionally, if a small business owner is in need of obtaining or is currently paying back an SBA loan, then the program provides specific debt relief. Under this program the SBA will pay the principal and interest of the new 7(a) loan that is issued prior to September 27, 2020. Additionally, the SBA will pay the principal and interest of any current SBA 7(a) loan for a period of six months.

More details about SBA loans can be obtained from the SBA at the following website link:

https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

Resources and Information That Could Help

Finally, the SBA provides a great deal of resources to all small business owners in America. This information includes business guidelines, funding programs, loans, local assistance, and so forth.

More details about this information can be obtained from the SBA the following website link:

https://www.sba.gov/funding-programs/loans

As I stated in the beginning. We are here to help. If you have questions or concerns, our business attorneys are still available to be reached by phone or by email. If you have questions about your small business in Idaho during this time, we encourage you to contact us immediately.

ENLIST AN IDAHO BUSINESS ATTORNEY TO HELP YOU

Our team of Idaho business lawyers can help you with any of your business structure or operation needs. Whether you are seeking to create a new business or review a current business, we are available to discuss your options and answer your questions at an initial free 30-minute consultation. Call us toll free at 877.232.6101 or 208.232.6101 for a free consultation. You can also email us directly at lane@racineolson.com or stop by our office at 201 East Center Street, Pocatello, Idaho 83201. We can set up an appointment to answer your questions and help you solve your Idaho business problems.


Client Reviews
★★★★★
"When it comes to our business work, we trust Racine Olson.” Premier Technology Inc.
★★★★★
“Randy has been our family’s attorney for many years. I’ve not only retained Randy to help with our family business, but I’ve used Randy and his firm in more than one complicated issues. I’ve never been disappointed.” Shawn - Previous Client
★★★★★
"Pat George, well there is so much I can say…. EXCELLENT lawyer! He leaves no stones unturned. If you are in need of an excellent Lawyer I would highly recommend Pat George. He turned a life threatening accident into a life changing event.” Personal Injury Client
★★★★★
"The attorneys here are just fantastic my dad and I are big fans…they are the best in Pocatello. I have lived in Poky my whole life” Previous Client
★★★★★
“I had been to many other law firms concerning my case. They were willing and able to help me out and I feel confident that they will do what is best for me.” Previous Client
★★★★★
"Fred Lewis is very knowledgeable, courteous, and efficient in explaining everything you need to know to help you win your case. He truly cares about you as a person and is on your side." Workers' Compensation Client
Contact Us