Now that you got the PPP money what do you do?

PPP Loan Forgiveness

This is based on an email prepared by Jeff “Happy Day” Pasternack, CFP® Happy day, Please put your phone on silent, place it in the other room and pay attention.  This email requires just a few minutes of your time.  We gleefully sweated through the process of putting together your Paycheck […]

Paycheck Protection Program Updates

PPP is Broker

By MATTHEW LUTTINGER & BRAN NOONAN of Date   May 8, 2020 The CARES Act created the Paycheck Protection Program (“PPP”), which amended the Small Business Act (“SBA”) to provide short term loans to companies with fewer than 500 employees and other companies (such as those in the restaurant and hospitality industry). Such […]

A Lookback on PPP and What Happened – the First Round

PPP is Broker

The following is based on and extracted from an article in The Motley Fool by Ollen Douglass and a Report from the SBA. As of April 16, the SBA’s statistics are: Summary *Net Approved Dollars do not reflect the amount required for reimbursement to lenders per statute within the CARES Act. […]

What todo with the PPP Funds & How to get the PPP Funds forgiven

Paycheck Protection Program

The following was extracted from a Treasury FAQ page on their website. What follows are answers to some questions if have been asked. Can my PPP loan be forgiven in whole or in part? Yes. The amount of loan forgiveness can be up to the full principal amount of the loan […]

New – a not (yet) will known Covid-19 Tax Credit – From the IRS – $10k Tax Credit

IRS CORONAVIRUS

IR-2020-62, March 31, 2020 WASHINGTON — The Treasury Department and the Internal Revenue Service today launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially […]

The Small Business Owner’s Guide to the CARES Act

Q&A

This is based on a guide sent out from Senator Ben Cardin, Ranking Member – U.S. Senate Committee on Small Business & Entrepreneurship. Other than the SBA COVID-19 ECONOMIC INJURY DISASTER LOAN the CARES act provides for the following funding/loan programs: Capital to cover the cost of retaining employees. Then the […]

The Families First Coronavirus Response Act (the “Act”)

Sick Leave

The Families First Coronavirus Response Act (the “Act”), like many other federal employment laws, requires that notice of the Act’s provisions be posted in a conspicuous place on the employer’s premises where notices are customarily posted.  For convenience, I have attached the official poster issued by the Department of Labor. For […]

Paid Sick and FMLA Leave under the Families First Coronavirus Response Act and How Employers Can Recover the Cost

Sick Leave Coronavirus

This is an article published by MBAF On Sick Leave.   The Families First Coronavirus Response Act (FFCRA or Act) was signed into law by President Trump on March 18, 2020. The new legislation addresses the growing health and economic crises and includes provisions for paid sick leave, paid family leave and refundable […]

SBA Economic Injury Disaster Loans

Coronavirus

This article is very very closely follows an article I received from MBFA. It should be noted that this does not cover what the current Bill in Congress (as of 1:30 PM Eastern Time). Pursuant to the latest guidance from the SBA, small businesses that meet the SBA’s revenue OR the […]

The How to of Disaster Relief

Anchor Business Brokers & Advisors

SBA Disaster Relief This site allows the public to see what relief is available by state and county. https://disasterloan.sba.gov/ela/Declarations/Index/?utm_source=pardot&utm_medium=image&utm_campaign=MC_Partners_SBA_Relief_Assistance_03_17_2020 Apply for a Disaster Relief Loan This file walks you through the steps to apply for a loan, and the documentation that is needed to complete the request. https://disasterloan.sba.gov/ela/Documents/Three_Step_Process_SBA_Disaster_Loans.pdf   SBA Disaster […]