Paycheck Protection Program – What is included in “Average Monthly Payroll” & What can I use the money for?

Paycheck Protection Program

This article is an extracted from and article by Fenwick & West LLP. & Treasury Department website. Maximum Amount — The sum of (i) borrower’s average total monthly “payroll costs” during the one-year period leading up to loan origination multiplied by 2.5 (i.e., 2.5 times average monthly payroll costs) plus (ii) […]

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 […]

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 […]