2. 1099 workers Business owners should not include 1099 payments when calculating their average monthly payroll for the purposes of getting a loan. The thinking here is that 1099 workers can apply for PPP loans on their own, so business owners shouldn’t be counting those payments as payroll. ...
Last year, in response to the economic harm suffered in Texas and across the country due to the COVID-19 Pandemic, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), authorizing over Two Trillion Dollars ($2,000,000,000,000.00) in relief with $377 ...
Private student loans aren’t eligible for student loan COVID-19 relief because the federal government doesn’t hold those loans. However, on the heels of the CARES Act, several private lenders and loan servicers offered relief options, such as special 90-day COVID-19 forbearances. ...
Why are so few borrowers repaying loans during COVID? Millions of borrowers with federal student loans have stopped paying those loans during coronavirus for one simple reason:They are no longer obligated to do so. As part of its coronavirus relief efforts, the federal government has put all f...
For millions of Americans, COVID-19 is having a profound financial impact. The novelcoronavirus has led to record unemployment, as well as reduced hours for many employees lucky enough to still be working. Unfortunately, young adults may especially be feeling negative financial effects, as many ...
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Boynton emphasized the importance of the PPP loans for actual businesses that need it, stating, “PPP loans were intended to support small businesses facing difficult economic times due to the COVID-19 pandemic. . . . The Justice Department will continue t...
In collaboration with the Bank of Thailand, KBank has also pressed forward with assistance measures for business customers that have been directly or indirectly affected by the third wave of COVID-19, with the aim of enhancing their liquidity and rehabilitating their businesses through the two meas...
U.S. President Donald Trump hosts an event on reopening schools amid the coronavirus disease (COVID-19) pandemic in the East Room at the White House in Washington, U.S., July 7, 2020. Kevin Lamarque | Reuters Multiple businesses with ties to President Donald Trump received millions of...
The Paycheck Protection Program (PPP) Loan Forgiveness program is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. It allows small business owners to get loans from the government to cover their payroll, rent, mortgage, and other expenses during the COVID-19 pandemic. ...