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Interest on all student loans held by the Federal Government Waived due to COVID-19
Contact your loan servicer online or by phone to determine if your loans are eligible. Your servicer is the entity to which you make your monthly payment. If you do not know who your servicer is or how to contact them, visit StudentAid.gov/login or call 1-800-4-FED-AID. See link below for more information from studentaid.gov, including Q&A. https://studentaid.gov/announcements-events/coronavirus
Read MoreComprehensive List of Private and Public Loans, Grants, and Financial Support for Small Businesses
In light of the global COVID-19 pandemic, federal, state, and local governments, along with private entities, are mobilizing to provide economic relief as businesses and workers enter a period of uncertainty. Gusto compiled a comprehensive list of public and private loans, grants, and financial support programs aimed at small businesses: https://docs.google.com/spreadsheets/d/1SRBZE2_6Nftwd02M6Oxj8MoeuZ7y93spXIgIPhkkp2w/htmlview#gid=0
Read MoreNew Guidance from the DOL on Administering FFCRA Leaves
The DOL has provided Questions and Answers document for employers, to provide guidance ahead of the implementation date on Wednesday, April 1. The following are some highlights from the updated guidance: These leaves are not available to employees with reduced hours, furloughed employees, or employees whose workplaces are closed. See questions 23-28. These leaves are…
Read MoreCOVID-19 Poster – Required Distribution by April 1 for all Businesses
Required FFCRA PosterThe Department of Labor (DOL) has released a mandatory employee rights poster for the FFCRA. It should be posted or distributed to employees electronically (via email or online portal) by April 1.
Read MoreQ&A – COVID-19 Emergency Loans
3 Sources of Federal Relief for Small Businesses
Economic Injury Disaster Loans (EIDL) through the SBA The Coronavirus Preparedness and Response Supplemental Appropriations Act provided $1Billion of loan subsidies for the SBA Economic Injury Disaster Loan program for small business entities financial impacted as a result of the coronavirus. Please see our post here for more information about the program and how to…
Read MoreFor Individuals: New COVID-19 Federal Assistance – CARES Act
The Cares Act, passed March 27, 2020, provides economic relief to individuals to help families cope with the financial impact of the pandemic. Below follows a summary of the provisions, with more to come as details unfold. Provisions for Individuals Retirement Plans Withdrawals no 10% penalty on early withdrawals up to $100,000 for coronavirus-related distributions.…
Read MoreFor Small Businesses: New COVID-19 Federal Assistance – CARES Act
The Cares Act, passed March 27, 2020, provides payroll and rent relief to small businesses. The Act includes a loan forgiveness provision for funds used to pay employees, rent, utilities or a mortgage. There is also a provision to defer payment of employer social security taxes with payment permitted over two years. Here is a…
Read MoreHelp for Small Businesses in Maryland
Maryland offers two programs to assist small businesses with fewer than 50 employees. The first is an emergency relief grant fund, and the second is an emergency relief loan funds. Maryland Small Business COVID-19 Emergency Relief Grant $ 50M Fund This fund offers working capital to assist Maryland small businesses and nonprofits with disrupted operations…
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