We are reaching out with this updated bulletin as a result of substantive developments which impact numerous GST clients. PPP: Round Two The recent legislation by Congress authorizes a second round of PPP funding. We will send more information on this as we have it. We expect the SBA and Treasury to issue some guidance [...]
We are reaching out with this updated bulletin as a result of Governor Hogan’s announcement of tightened restrictions related to recent spikes in positivity, hospitalizations, and raw positive test numbers. Along with these spikes already happening, we feel there is substantial short term (1-3 months) risk to our clients. The updates to Maryland Emergency orders can [...]
We’re reaching out with this updated bulletin as a result of Governor Hogan’s announcement of additional funds for various State of Maryland relief programs. We’ve also included some forward-looking statements and updates to prior bulletins. PPP Forgiveness Applications The current version of the SBA/Treasury. Forgiveness application and guidelines can be found at the link below. Many [...]
It’s been several weeks since the release of any relevant, new information on the COVID driven economic crisis. There are now some major developments so we’re sending you this information. We will have our staff schedule an educational webinar around the PPP forgiveness application. SBA/Treasury Release PPP Forgiveness Application By far, the most significant update is [...]
EIDL & PPP Today, the House and Senate came to an agreement on additional funding for both the PPP and Disaster Loans (EIDL). The President has indicated he will sign the Bill. Since these are not new programs, but rather a funding “deal”, there should be no need to await guidance on roll-out. You should immediately [...]
The biggest news this week is the exhaustion of both the EIDL and PPP funding. There are also indications that some areas of the Nation will be re-opening. And layoffs continue Maryland State Specific Governor Hogan is proposing a plan to open the State. On the other hand, the latest restrictive order (masks) is set to [...]
This week brought some new challenges for business, and some new guidance for loans. Here are the updates that you should be aware of. Governor Hogan’s Latest Executive Order The latest Executive Order deals with vesting local health inspectors with the authority to investigate workplaces and shut them down if they are deemed “unsafe”. We’ve attached [...]
Since the onset of this economic disruption we’ve been sending information and updates as they become available. Following are some updates to information previously sent along with some new items. CARES PPP Small businesses are able to make applications as of today with their SBA Lending institution for the Payroll Protection Program. We sent updated information [...]
For the prior two weeks, we’ve sent an update for clients with relevant information to your business given the impact of COVID-19 and the economic environment. Here are the items you should be aware of as we end this week and move forward into next. New Stimulus Today, the House passed the additional 2.2T stimulus bill [...]
GST Clients, Last week, we provided you with some guidance on dealing with the current financial disruption caused by the Coronavirus. This is intended to supplement, not replace, last week’s guidance. Business LOC We’ve suggested our clients establish a banking relationship, including a business line of credit. If you don’t have a LOC, or if [...]