Information & Resources
During the Covid-19 crisis, bail agents across the country continue to operate as we have for over 200 years...guaranteeing the appearance of those accused of crimes and working in partnership with state courts.
This page was designed as a hub for agents to provide information and resources as it relates to Covid-19.
It is important to know that you may qualify for financial assistance as part of the Federal Coronavirus Stimulus Package, including SBA loan assistance (and/or grant), payroll assistance (including contractors) and other assistance.
We encourage you to contact your accountant for more information.
UPDATE (4/24/20): Last night, Congress passed the Paycheck Protection Program and Health Care Enhancement Act that adds $310 billion in funding for the SBA Paycheck Performance Program.
The PPP received an overwhelming amount of applications when the program first began accepting applications on April 3rd and quickly reached its original lending limit on April 16th. The bill supplements the $2 Trillion legislative package (CARES Act) that included provisions to allocate approximately $350B for federally-backed loans to support U.S. companies with less than 500 employees. To date, the construction industry successfully secured the greatest proportion of SBA PPP loans, compared to other industries. The construction sector received a total of 177,905 approved applications worth approximately $44B. Click here to see how the SBA loan program has disbursed funds to date.
UPDATE (4/24/20): IF YOU HAVE NOT YET RECEIVED APPROVAL FOR A PPP LOAN, YOU WILL NEED TO RE-APPLY ONCE THE SBA BEGINS RECEIVING NEW APPLICATIONS. The SBA was unable to maintain a queue for previously submitted PPP applications. You are encouraged to apply for a loan through your local lending institution; more details on eligible lenders can be found here. The SBA, in partnership with U.S. Treasury Department, has issued details and a loan application form (PDF) to apply for PPP loans. The SBA is expecting to reopen its processing system soon that will allow lenders to receive applications for approval.
The U.S. Chamber of Commerce has created a thorough walkthrough to help U.S. businesses determine if they are eligible to receive a small business loan, linked here. Importantly, this step-by-step guidance provides:
- Who is eligible for these loans;
- What lenders will be looking for in the application process;
- How much companies are allowed to borrow; and
- How to seek loan forgiveness.
This link is extremely useful and provides state by state information and links covering Essential Service Designation, Labor and Workforce Guidance, Economic and Stimulus Relief, and Business and Support Resources.
Paycheck Protection Program (PPP)
An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.
SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
The Paycheck Protection Program will be available through June 30, 2020.
Who Can Apply
This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19.
How to Apply
You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.
Lenders may begin processing loan applications as soon as April 3, 2020.
Loan Details and Forgiveness
The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.
Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.
This loan has a maturity of 2 years and an interest rate of .5%.
U.S. Small Business Administration (SBA)
- Covid-19: Small Business Guidance and Loan Resources
- SBA Disaster Assistance in Response to the Coronavirus
- SBA Lender Match Program
U.S. Chamber of Commerce
American Property Casualty Insurance Association