Treasury, IRS and Labor announce plan to implement Coronavirus-related paid leave for workers and tax credtis for small and midsize business to swiftly recover the cost of providing Coronavirus-related leave.
SBA Loan Options, Provided by Polsinelli
SBA CARES Loans: The Coronavirus, Aid, Relief and Economic Security Act – SBA Loan. The SBA is authorized to guarantee up to $349 billion in 7(a) loans to businesses with not more than 500 employees or the applicable size standard established by the SBA for the industry in which the business operates, if greater.
SBA Cares Loan – Use Banker or Approved Lender
SBA Disaster Loan Assistance: The US Small Business Administration has created a dedicated website for certain localities to apply for Disaster Loan Assistance. Click here to see if your state is on the current list and to find out more.
Mammoth/ThinkHR has been our trusted advisor for Human Resource expertise and direction. They have consolidated a valuable FAQ from thousands of questions they've received which you can find here. For access to the full Mammoth library please contact your Payroll Vault office and they will be happy to assist you.
The US Department of Labor has published a helpful FAQ regarding the Families First Coronavirus Response Act (FFCRA) that addresses common questions for both employees and employers.
Other Helpful Links
For more education, preparation, and reporting procedures, we encourage you to visit the USPS, IRS, SEC, FBI, and FTC’s websites. If you find yourself in the middle of a scam, report it immediately. A few websites are listed below:
COVID-19 Health Related Links