Paycheck Protection Program Update (Part III) with Dent Moses Managing Partner, Mike Baker; Dent Moses Partner, James Moody; and SBA Lender, Nicole Reed of Capital Solutions.
It’s been an intense couple of weeks. The next task for those who submitted loan applications for the Paycheck Protection Program (PPP) will be to determine how much of the loan will be forgiven. The attached template should help – it is intended as a planning tool. Guidance is sparse and we expect the administration…
Paycheck Protection Program Update (Part II) with Dent Moses managing partner, Mike Baker and SBA Lender, Nicole Reed of Capital Solutions.
Dent Moses managing partner, Mike Baker and SBA Lender, Nicole Reed of Capital Solutions, discuss the latest guidance and frequently asked questions concerning the Paycheck Protection Program in the following video.
The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a refundable payroll tax credit for 50% of wages paid by eligible employers to certain employees during the COVID-19 pandemic. The employee retention credit is available to employers, including nonprofit organizations, with operations that have been fully or partially suspended as a result of a government order limiting commerce, travel or group meetings. The credit is also provided to employers who have experienced a greater than 50% reduction in quarterly receipts, measured on a year-over-year basis.
The program is set to go LIVE APRIL 3 – Act Now to participate! On Friday, the CARES Act was signed into law. One of the most significant provisions for small business and non-profits is the Paycheck Protection Program, or PPP. The PPP provides a government-guaranteed loan to small businesses, and in most cases a large…
Great overview of SBA Loan Programs Prepared by the US Chamber of Commerce.
On March 27, 2020, the President signed into law the CARES Act. The rollout of certain relief provisions like the SBA loan program for wage, rents and utilities may take several weeks to be up and running. Again, with the regular caveat that things are moving fast, here is a list of the CARES Act provisions that we believe to be particularly applicable to small business owners and individual taxpayers:
The #BHAMSTRONG Small Business Loan Fund is LIVE: What is the purpose of the loan? To immediately support small businesses affected by COVID-19 who are awaiting state or federal relief funding or a more stable business environment. Approved loans must be used to support one or more of these efforts: Limit reductions in payroll or…
Alabama Department of Labor Secretary Fitzgerald Washington has temporarily ordered that relief be offered to employers whose employees must file unemployment compensation claims for weeks filed due to COVID-19 related issues.