The Bill includes roughly $900 billion in new COVID economic relief. The legislation also provides for over $300 billion for support of small businesses, including additional funding for the Paycheck Protection Program and Economic Injury Disaster Loans advances (grants). What Does the New Stimulus Bill Include with Respect to the PPP? […]
in All Articles, Business Strategy This article was written by a friend of mine Jay Berkowitz of Ten Golden Rules We’ve all been there. Stuck in a constant loop of emails with no end in sight. You’re trying to get a meeting on the calendar, but most of your exchanges end up looking […]
We help you live the life you want. By Steve Whitehill In our prior article we discussed different valuation methods. Each of the valuation methods has its strengths and weaknesses. Generally speaking, for main street and lower middle market businesses, we use the valuation based on earnings. While these earnings have […]
By Steve Whitehill Before you make the decision to buy or sell a business, the first step you need to take is to determine its value. Valuation, like beauty, is in the eyes of the beholder. That is because there are many different ways to value a business – along with […]
by Steve Whitehill In early October 2020, the Small Business Administration issued additional Paycheck Protection Program (PPP) guidance for simplified forgiveness for loans of $50,000 or less in order to ease the process from smaller borrowers. The move simplifies the proceeding of financial relief to small businesses and guarantees that taxpayer […]
What You Need to Know About SBA 7(a) Loans by Steve Whitehill If you’re in the market for a small business loan, SBA 7(a) loans are a great option to explore. This particular type of loan is popular among small business owners because the capital lent serves many funding purposes. For […]
By Steve Whitehill Thank goodness, there is a new “EZ” short form for borrowers who meet certain criteria. See instructions and form below. https://home.treasury.gov/system/files/136/PPP-Loan-Forgiveness-Application-Form-EZ-Instructions.pdf https://home.treasury.gov/system/files/136/PPP-Forgiveness-Application-3508EZ.pdf There is also a revised standard application and instructions below. https://home.treasury.gov/system/files/136/PPP-Loan-Forgiveness-Application-Instructions_1.pdf https://home.treasury.gov/system/files/136/3245-0407-SBA-Form-3508-PPP-Forgiveness-Application.pdf Importantly pages 8-10 of this new rule (below) provide that you can pay […]
By Steve Whitehill, Anchor Business Brokers To this point we have covered how to determine the “Cash” compensation portion of payroll for the Schedule A worksheet of the loan Forgiveness application (SBA Form 3508). The next topic is the Non-Cash Compensation & Compensation to Owner. Non-Cash Compensation First, we will be […]
By Steve Whitehill, Anchor Business Advisors If you have questions after reading this series please feel free to contact us. In part 1 we discussed what you got the PPP loan for and what you can use the money for. In this installment, we will be filling out part of the […]
By Steven Whitehill, Anchor Business Advisors To apply for forgiveness of your Paycheck Protection Program (PPP) loan, the SBA develop a form to be completed. Form 3508 – “SBA Loan Forgiveness Application”. You, as the Borrower, must complete. It is an eleven-page document (including instructions). It should be note like most […]