Posts Tagged ‘coronavirus’
BREAKING UPDATE – Paycheck Protection Act: Where to find a loan, and how much am I eligible to receive?
We’ve spoken with so many of you, and understand there are many, many questions small business owners have surrounding the Payroll Protection Act, how it works, what banks are participating and how to apply for the funds. A few comments to the most frequently asked questions are below. How do I calculate Average Payroll Costs…
Read MoreWhat’s the Status of Your Economic Injury Disaster Relief Loan (EIDL)?
This message was shared by a colleague after calling the SBA yesterday, 4/3/2020, to inquire about her EIDL status: EIDL applications (Application # starts with a 2) that are IN REVIEW are frozen in review. If you applied for this prior to 3/31, you received an email confirming your submission. They are ONLY processing the…
Read MoreStep by Step Guidance and Application Forms – A Small Business Owner’s Guide to the CARES Act
Please open or download this guide from the US Chamber of Commerce for detailed, step by step instructions for accessing assistance. The following files contain documents to assist calculating the Payroll Protection Act Loan amount, as well as the Borrower Application and Program Details.
Read MoreHelp for Small Businesses in VA
Virginia Governor Ralph Northam released Workforce Innovation and Opportunity Act (WIOA) Rapid Response funding to support Northern Virginia employers to remain open during this emergency. The funds are intended to assist local employers to avert layoffs and support other operational needs. These strategies and activities are designed to prevent, or minimize the duration of, unemployment…
Read MoreInterest 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
For 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.…
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