On March 26, the Coronavirus Aid, Relief and Economic Security Act (CARES) Act was signed in to law. This new law creates economic opportunities for small businesses to access loans and other economic stability funding, and there are many questions about its implementation. In this webinar you...
The SBA first attempted to make this clarification on May 5, 2020, through its addition of Question 44 to the FAQs, which stated, consistent with the Act and the existing SBA regulations, that “For purposes of the PPP’s 500 or fewer employee size standard, an applicant must count all o...
The PPP loan / Cares Act that was put in place to help business affected by Covid-19. Browse & Search data by state or company name
The CARES Act modified two key types of SBA loans so that more people and business types can apply for them. One of these programs is the Paycheck Protection Program, which gives loans to businesses with 500 employees or fewer, and cannot be given to government institutions. The application p...
From the retirement planning perspective, notable provisions of the CARES Act include the elimination of the 10% early withdrawal penalty on distributions from retirement accounts for so-called “Coronavirus-Related Distributions” (with the option to spread income taxation over three years...
CARES Act, churches are eligible to apply for small business loans to keep staff on the payroll and to pay utilities. Heather Hahn reports for United Methodist News on how the program works: https://www.umnews.org/en/news/how-a-new-law-helps-churches-amid-covid-19 April 7 — Joe ...
In May, the Justice Department charged two businessmen with filing fraudulent bank loan applications seeking more than a half-million dollars in forgivable loans guaranteed under the CARES Act.1 In April, the Health and Human Services Department distributed $30 billion in stimulus payments to health...
The CARES Act includes significant student loan relief for most, but not all, federal student loans. Here is the current announcement on studentaid.gov: Your payments will automatically stop from March 13, 2020, through Sept. 30, 2020. To provide relief to student loan borrowers during the ...
The CARES Act bill has made available $284 Billion Dollars for Small Businesses. 1.4X qualified expenses Loans are available for up to 3.5 times of your average monthly payroll during the year preceding the application. 15% Forgivable Up to 100% of the loan principal of a PPP loan is potent...
The CARES Act bill has made available $284 Billion Dollars for Small Businesses. 3.1X qualified expenses Loans are available for up to 3.5 times of your average monthly payroll during the year preceding the application. 82% Forgivable Up to 100% of the loan principal of a PPP loan is potent...