business_survival

PPP Guidance- What if a laid-off employee refuses to come back to work?

The SBA has issued clarification on this issue. Question: Will a borrower’s PPP loan forgiveness amount (pursuant to section 1106 of the CARES Act and SBA’s implementing rules and guidance) be reduced if the borrower laid off an employee, offered to rehire the same employee, but the employee declined the offer? Answer: No. As an …

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If your business is too large to qualify for PPP and EIDL

If your company was too big to qualify for the PPP and EIDL loans, these new loans (MSNLF and MSELF )may be  possibilities. They are slightly different programs: MSNLF loans max at lesser of $25 million or 4X 2019 EBITDA; MSELF maxes at lesser of $150 million, 30% or borrower’s existing outstanding and committed but …

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Overview of Cares Act sent to clients April 2, 2020

The CARES Act which was passed last week by Congress and signed by the President has a number of provisions that effect you and your business. I’ll try the summarize the most relevant and timely issues here. This is a broad overview – some may not be relevant to you/your business but I hope to …

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Effects of Families First Coronavirus Response Act (effective date 4/2/2020)

US Government-paid benefits: If you have COVID-19, or you’re quarantined, or caring for a COVID-19 person, or if you’re home because your child’s school or daycare center is closed – you’ll be eligible for benefits. Qualification is determined monthly – if you have 14 unpaid days from missing work in a month, you qualify. Days …

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