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BUSINESS RESOURCE CENTER

U.S. Small Business Administration

Paycheck Protection Program (PPP)

The Coronavirus Aid, Relief and Economic Security (CARES) Act was passed to help small businesses keep workers employed amid the pandemic and economic downturn.

We are currently accepting applications for PPP loans.  

Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses. These loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.

                  

If you've received your loan and are in your 8 week forgiveness period, we have information available to help you through the forgiveness application process.

 


 

Webinars

 

How to use your PPP funds to maximize your loan forgiveness.

In this webinar (4.22.20) we once again joined with McMill CPAs & Advisors to discuss how your PPP funds need to be used to maximize your loan forgiveness. 

We also touch on updates to EIDL program, stimulus payments and proposed additional funding to the Paycheck Protection Program. 

 

 

The Paycheck Protection Program (PPP) Loan was awarded...Now What?  

In this webinar (4.8.20) we join McMill CPAs & Advisors to discuss the next steps after being approved for the PPP loan.  We provide updated information and advise where we'll go from here.

**VIDEO CONTENT CLARIFICATION –

The amount of forgiveness of a PPP loan depends on the borrower’s payroll costs over an eight-week period; when does that eight-week period begin?

Answer: The eight-week period begins on the date the lender makes the first disbursement of the PPP loan to the borrower. The lender must make the first disbursement of the loan no later than ten calendar days from the date of loan approval.

 

Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) : AN OVERVIEW  

We're joined by McMill CPAs & Advisors to to discuss the differences between the PPP and EIDL options from the SBA.  This webinar (4.1.20) will help you determine how your business can make the best use of the assistance available.

 


U.S. Small Business Administration

Economic Injury Disaster Loan (EIDL)

We are working with the U.S. Small Business Administration (SBA) to offer low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).

 

 

SBA’s Economic Injury Disaster Loans (EIDL) offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

These loans may be used to pay fixed debt payments, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.

SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.


 

We're here to help.

We're in this together.  If you have questions regarding the options available to you for your business, please contact us and we will be in touch with you.