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Mobile Electronics Alert - North Andover, MA – March 30, 2020:
The below link is for applying through the Small Business Association (SBA) for COVID-19 Economic Injury Disaster Relief. This is a short form (5 screens) that can be completed online in a few minutes. MEA recommends that all members that have been negatively impacted by the coronavirus apply for this relief.
You will need the following information:
1. Business Tax ID or Social Security number
2. Total Sales for the period from 2/1/2019 through 1/31/2020
3. Total COGS (Cost of Goods Sold - which is only what you pay for products for resale) for the same period (2/1/19-1/31/20)**
4. Total Operating Expenses (Total of everything else you paid not including the COGS) for same period (2/1/19-1/31/20)**
5. The date the business was established (usually date of incorporated) and current ownership is the same if it has not changed
6. Select “Automotive Repair” activity and “Automotive – Parts. Accessories” for detailed
7. Number of employees you had employed as of 1/31/2020
8. You will need the full name, address, DOB and social security number of each owner of the business and the % of ownership they have
9. Bank name, account number and routing number
**As long as you use a good faith effort in compiling the information, the government is most likely to forgive some errors.
To Start Your Application Click the Button [CLICK HERE]
When completed you will be assigned an application number and receive an email for additional information needed once your application is processed. Currently there is not a way to edit the information once submitted.
Visit MEAHelp.com for more tips on what other information you may need.
The Magazine