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Business Resources

At this time, due to increased volume, we are only processing the SBA's Payroll Protection Program and Economic Injury Disaster Loans for businesses who were customers of ours as of 3/30/20.  If this changes we will let you know.

U.S. Small Business Administration

Paycheck Protection Program (PPP)

 

If you're hoping to learn more about the Paycheck Protection Program and how it might benefit your business, we encourage you to take some time to watch this webinar.  We're joined by McMill CPAs & Advisors who discuss how this program might affect you from a tax perspective.  

 

The Coronavirus Aid, Relief and Economic Security (CARES) Act allocates $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn.


Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses. These loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.

At this time, due to increased volume, we are currently only processing PPP and EIDL loans for businesses who were customers as of 3/30/2020. 

If this changes, we will post updates here.

 

If you've received your loan and are in your 8 week forgiveness period, we have information available to help you through the forgiveness application process


U.S. Small Business Administration

Economic Injury Disaster Loan (EIDL)

We are working with the U.S. Small Business Administration (SBA) to offer low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).

 

 

SBA’s Economic Injury Disaster Loans (EIDL) offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.

SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.


We're here to help.

We're in this together.  If you have questions regarding the options available to you for your business, please contact us and we will be in touch with you.