Economic Injury Disaster Loan Program (EIDL) Attorneys
Raiser and Kenniff, P.C. Has Over 100 Years of Combined Experience
There are several reasons a business might need guidance from an EIDL attorney. For example, consulting an attorney would be beneficial if there are complications in the application process or disputes arise regarding the loan terms and conditions. Similarly, if there are allegations of EIDL fraud, an EIDL defense attorney, like ours in NYC, can provide invaluable support.
At Raiser and Kenniff, P.C., our economic injury disaster loan program attorneys have extensive experience helping clients deal with EIDL-related issues, including fraud allegations. We understand how complicated issues stemming from the EIDL process can be, and we are ready to put our century of combined experience to work for our clients.
Are you struggling with an EIDL fraud allegation or other issue? Contact our firm online or call (888) 646-0025 to schedule a consultation with our team. Raiser and Kenniff, P.C. has the experience and resources to represent clients nationwide.
Understanding the EIDL Program
The Economic Injury Disaster Loan (EIDL) program is administered by the U.S. Small Business Administration (SBA). It is specifically designed to provide financial assistance to small businesses, renters, and homeowners in regions impacted by declared disasters, such as the COVID-19 pandemic.
This program offers long-term, low-interest loans intended to help cover working capital and operational costs that have been disrupted due to the disaster. Eligibility for the EIDL program is determined by demonstrating substantial economic injury, which means the business cannot meet its financial obligations and pay its ordinary and necessary operating expenses. Businesses must also prove that they have been adversely affected by the disaster and are unable to secure credit elsewhere.
EIDL loans can be used for various working capital needs and regular operating expenses, such as:
- Continuation of health care benefits
- Rent and utilities
- Fixed debt payments
The SBA can provide up to $2 million to help meet financial obligations and operating expenses that could have been managed if the disaster had not occurred. It’s important to note that the loan amount is based on the business's actual economic injury and financial needs.
What is EIDL Fraud?
EIDL fraud involves the misrepresentation of information by an individual or business during the application process for an Economic Injury Disaster Loan.
This can include:
- Falsifying documents
- Inflating financial needs
- Misreporting economic injury
- Using loan funds for unauthorized purposes
The SBA takes allegations of EIDL fraud seriously and can result in severe penalties, including fines, loan repayment, and even imprisonment.
How Does the SBA Address EIDL Fraud?
Addressing EIDL fraud typically begins with an investigation. The U.S. Small Business Administration (SBA) or other federal agencies may conduct these investigations. Indicators of potential fraud, such as discrepancies in financial records or complaints, trigger thorough reviews of the application and supporting documents. If evidence of fraud is found, the case may be referred to prosecutors for criminal charges.
Given the complexity and high stakes involved, it is vital for businesses or individuals accused of EIDL fraud to seek experienced legal representation from an experienced EIDL fraud defense attorney like ours at Raiser and Kenniff, P.C..
What to Do if You Are Accused of EIDL Fraud in NYC
If you are accused of EIDL fraud in NYC, taking immediate and strategic action is crucial to protect your interests. The first and most important step is to contact our firm as soon as possible. Our experienced EIDL fraud defense attorneys are well-equipped to navigate the complexities of these allegations and will work tirelessly to defend your rights. Even if you have not been formally accused or charged but suspect you are under investigation, seeking legal counsel is strongly recommended. Investigations can escalate quickly, and having legal representation early on can significantly impact the outcome. Our attorneys can help you understand the nature of the investigation, gather necessary documentation, and prepare a robust defense strategy.
Contact our NYC EIDL fraud attorneys online or call (888) 646-0025.
Client Testimonials
Our Clients Rave About Their Results-
They were always available quickly, to address my concerns. Having dealt with some law firms before, I really appreciated this.
“Steven Raiser's law firm handled my case with excellence throughout the process. I had a SBA EIDL loan that got transferred to the Department of Treasury unexpectedly, and had a 30% penalty added to the amount due, and due very quickly, which was very stressful. After talking with Steven Raiser, and working with Harry Gill, who was absolutely brilliant in working with me and preparing the case, they were able to recall the case to the SBA. They were always available quickly, to address my concerns. Having dealt with some law firms before, I really appreciated this.
Very grateful and appreciative to Steven Raiser and Harry Gill. Great work” -
They Really Care
“They treated me wonderfully and helped me out of a bind. I feel that this firm really cares.”
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“Extremely professional and efficient lawyers.”
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Top-Notch!
“They go well above and beyond. Highly recommend.”
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Integrity
“Thomas Kenniff is a true definition of an attorney and a humanitarian.”
Why We're the Right Choice
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Risk-Free Consultation
We offer a risk-free evaluation of your case and are here to help you understand your legal options. We are available 24/7, day or night, to help you.
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Top-Rated Team
Recognized as the top attorneys in the USA.
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Former ProsecutorsOur founding partners are both former New York prosecutors who bring unique experience and insights to every case, especially when it comes to going to trial.