COVID-19 Support and Loan Programs

These are the COVID support and loan programs that are available, we will update this as we find new programs.

The SBA Loan Programs

Economic Injury Disaster Loan (EIDL)

EIDL Advance (ended on 7/11)

SBA Express Bridge Loan

This a fast turn around loan for up to $25,000 meant to bridge the gap between the time funds are needed and receipt of the EIDL Loan. The EIDL should pay back the bridge loan.

A limitation of this loan is that you must already have a relationship with an SBA 7(a) lender.

Get more information from the SBA here.

Small Business Debt Relief

If you already have a small business loan, a 7(a), 504, or microloan that is in regular servicing status.


If you secure a 7(a), 504, or microloan before September 27, 2020 (this does NOT include PPP or EIDL loans).


The SBA will make payments on your behalf for six months. You do not have to apply for this assistance.

Read more about this program here.

Paycheck Protection Program (PPP)

 This program is not currently available, but you will want to start thinking about forgiveness over the next couple of months.

It may become available again, we will change this post if it does become available.

SBA Express Loan (SBA Express Lenders)

The SBA Express loan program is a part of the SBA 7(a) loan program.

It is not specific to the COVID crisis, it is designed to help small businesses grow.         

Normally, the maximum loan amount for borrowers is $350,000, the SBA has increased this limit to $1 million through the end of 2020.

They can offer the loan as a revolving line of credit.

The interest rate depends on the borrower, it can be fixed, variable, tied to the prime rate, LIBOR, or optional peg rate. The maximum is set by the SBA and is currently 6.5% over the base rate for loans of $50,000 or less and up to 4.5% over the base rate for loans over $50,000.

For loans up to $25,000, lenders are not required to take collateral, but they may require collateral for loans between $25,000 and $350,000.

To apply you must speak with an approved SBA 7(a) Lender. The SBA publishes a list of active lenders here. But you can also search for SBA lenders in your area.

Community Advantage Recovery Loan (CARL)

Loans available through Certified Development companies to help small businesses adapt to changing business conditions in the COVID-19 environment.

Read more about the Community Advantage Recovery Loan Here.

Jeff Coyle, CPA

Jeff Coyle, CPA, Partner of Rosenberg Chesnov, has been with the firm since 2015. He joined the firm after 20 years of business and accounting experience where he learned the value of accurate reporting, using financial information as a basis for good business decisions and the importance of accounting for management.

He is a diligent financial professional, able to manage the details and turn them into relevant business leading information. He has a strong financial background in construction, technology, consulting services and risk management. He also knows what it takes to create organizations having built teams, grown companies and designed processes for financial analysis and reporting.

His business experience includes:

Creating and preparing financial reporting, budgeting and forecasting.
Planning and preparation of GAAP and other basis financial statements.
Providing insight on financial results and providing advice based on those results.

Jeff also has a long history of helping individuals manage their taxes and plan their finances including:

Income tax planning and strategy.
Filing quarterly and annual taxes.
Audit support.
General financial and planning advice.
Prior to joining the firm in 2015, Jeff was in the private sector where he held senior financial and management positions including Controller and Chief Financial Officer. He has experience across industries, including construction, technology and professional services which gives him a deep understanding of business.

Jeff graduated from Montclair State University, he is a CPA and member of the American Institute of Certified Public Accountants, New York State Society of Certified Public Accountants and New Jersey State Society of Public Accountants.

Jody H. Chesnov, CPA

Jody H. Chesnov, CPA, Managing Partner of Rosenberg Chesnov, has been with the firm since 2004.  After a career of public accounting and general management, Jody knows the value of good financials.  Clarity, decision making, and strategy all start with the facts – Jody has been revealing the facts and turning them into good business results for more than three decades.

He takes a pragmatic approach to accounting, finance and business. His work has supported many companies on their path to growth, including helping them find investors, manage scaling and overcome hurdles.  His experience and passion for business reach beyond accounting and he helps businesses focus on what the numbers mean organizationally, operationally and financially.

He has a particular expertise in early-stage growth companies.  His strengths lie in cutting through the noise to come up with useful, out of the box, solutions that support clients in building their businesses and realizing their larger visions.

Prior to joining the firm in 2004, Jody was in the private sector where he held senior financial and management positions including General Manager, Chief Financial Officer and Controller.  He has experience across industries, which gives him a deep understanding of business.

Jody graduated with a BBA in Accounting from Baruch College, he is a CPA and member of the American Institute of Certified Public Accountants and New York State Society of Certified Public Accountants.

In addition to delivering above and beyond accounting results, Jody is a member of the NYSCPA’s Emerging Tech Entrepreneurial Committee (ETEC), Private Equity and Venture Capital Committee and Family Office Committee.  

He is an angel investor through the Westchester Angels, and has served as an advisor for many startup companies and as a mentor through the Founders Institute.

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