Kansas City Star Quotes Partner Gerald Weidner on Paycheck Protection Program Guidance
Understanding eligibility and the application process of the new Paycheck Protection Program (PPP) has many small business owners concerned. The Kansas City Star recently quoted partner Gerald Weidner as he shared insight for business owners on qualification for the program and how to seek funds to continue to pay their employees.
“Like any other government program, nothing is easy on these programs,” said Gerald. “The statute was enacted very quickly, signed into law very quickly.” Borrowers don’t have to prove that they have lost money due to the pandemic or can’t obtain financing elsewhere. “Just that you’ve been affected by the economic uncertainty of the pandemic,” he said.
Gerald is a member of the Stinson Coronavirus Task Force focusing on relief available to businesses and lenders under the CARES Act, including the PPP and Emergency Injury Disaster Loans provided by the Small Business Administration. He assists clients in a broad array of transactions, including purchase and sale transactions, leases, term loans, construction loans, government-insured loans and mortgage-backed securities transactions. He advises investors, landlords, tenants and lenders in commercial and multifamily real estate transactions.
Gerald is knowledgeable on virtually every aspect of the real estate and lending industry, with wide ranging experience includes assisting several nationwide lenders in establishing consumer loan and installment sale programs in Missouri and Kansas, advising local banks in real estate and consumer loan matters, and assisting buyers, sellers, landlords and tenants with real estate transactions.