Tag Archives: loan

Loan, Gift, or Advancement: Why the Classification Matters

While we all want to provide financial help to our loved ones—whether they are family or close friends—it is important to understand that how the money is classified will directly affect your estate planning.

Accordingly, the intent behind the transfer of the money is key when determining if it will be considered a loan, gift, or...
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How Refinancing a Property Can Affect Your Estate Plan

The mortgage business is booming in Virginia!

Historically low interest rates have created an environment with homeowners scrambling to refinance their home loans at these low rates. Even a few tenths of a percentage point of interest over thirty years can make a massive difference in the amount of interest that is ultimately paid on a...
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SBA Economic Disaster Assistance: Express Bridge Pilot Program

What SBA Economic Disaster Assistance is Available in Response to COVID-19 Part II: SBA Express Bridge Pilot Program

Overview

Pursuant to its authority under the Small Business Act, the U.S. Small Business Administration (“SBA” or the “Agency”) provides direct loan assistance to small businesses located in communities impacted by Presidentially-declared disasters and disasters declared by SBA under...
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What SBA Economic Disaster Assistance is Available in Response to COVID-19?

Part 1: Coronavirus Preparedness and Response Supplemental Appropriations Act, PL 116-123 (March 6, 2020)

ECONOMIC INJURY DISASTER (“EID”) LOANS As authorized by PL116-123, the SBA has made Economic Injury Disaster Loans ("EID Loans") available for qualifying businesses that have suffered economic injury as a result of the Coronavirus epidemic. Below is a summary of the SBA's eligibility...
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