Apr. 24, 2020

Paycheck Protection Program and Emergency Economic Injury Disaster Grants Re-Funded

Today, April 24, 2020, President Trump signed into law an amendment to the CARES Act relating to additional funding for the Paycheck Protection Program (PPP), Emergency Economic Injury Disaster (EIDL) grants, and other disaster loans.  Specifically, the amendment provides for an extra $310B in funding for PPP and $10B for EIDL grants.  Additionally, $50B in […]

Apr. 22, 2020

Prepare Today for Expected Additional PPP & EIDL Funding

Later this week and possibly as soon as Thursday, April 23, 2020, it is anticipated that Congress will approve an additional $310B in Paycheck Protection Program (PPP) funding and allocate an additional $10B for Emergency Injury Disaster Loans (EIDL) after the initial round of funding for both programs quickly dissolved. As with the first wave […]

Apr. 10, 2020

CARES Act: Tax Implications

(Updated April 10, 2020) On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) was signed into law by President Trump. Although the CARES Act was drafted to predominantly assist small businesses, specific industries, and health care professionals; several of the CARES Act provisions were tax related.  Our team of […]

Apr. 9, 2020

COVID-19 and Unemployment Compensation: An Overview for Employers

The disruption to the economy caused by the COVID-19 (Coronavirus) pandemic has left many employers with difficult choices. Many businesses have been ordered to close, while others have seen a substantial decline in business. The results have included layoffs, furloughs and employee terminations. Congress has answered in several ways to help businesses and their employees. […]

Apr. 3, 2020

COVID-19 & Collections of Dues/Assessments: Guidance for HOAs

The ongoing COVID-19 (Coronavirus) Pandemic continues to affect every aspect of the economy. The sudden reduction in workers’ hours and revenues throughout the economic system has left many people feeling a financial pinch. The impact of that flows through the system to potentially create further economic problems in the short-, medium- and even long-term. As […]

Apr. 1, 2020

CARES Act: Paycheck Protection Program Documentation Checklist

With the recent passage of the CARES Act, the expansion of SBA 7(a) (Paycheck Protection Program) loans has left many businesses wondering what they can do to take advantage this advantageous program. While we are awaiting regulations and guidance on the implementation of the Program, we anticipate the following documents may be required when applying […]

Apr. 1, 2020

COVID-19: Emergency Financing Options for Businesses (April 1)

(Updated April 1, 2020) The COVID-19 (Coronavirus) outbreak has left a lot of businesses struggling financially due to closures, reduced workload and supply chain issues. To assist businesses during these extraordinary times, local and federal resources are being allocated to provide various emergency funding options. This chart helps simplify the government financing options currently available, […]

Mar. 31, 2020

CARES Act Expands Relief for Small Businesses

Long before COVID-19 (Coronavirus) was even known to most Americans, Congress acted to address a recognized deficiency in the Bankruptcy Code. The expansive provisions for business reorganization under Chapter 11 were too cumbersome, expensive and complex for many smaller businesses, while the options for “mom and pop” enterprises under Chapter 13 were too limited. To […]