Posts Tagged ‘EubanksAA’
For Small Businesses: New COVID-19 Federal Assistance – CARES Act
Summary of Keypoints Overview of CARES Act relief for small businesses: The CARES Act, enacted March 27, 2020, provides payroll, rent, and cash-flow relief for small businesses, including loan forgiveness for eligible expenses and the option to defer employer Social Security tax payments over two years. Paycheck Protection Program (PPP) and loan forgiveness: The Act…
Read MoreVirginia Unemployment Web Based Assistance
Resources for Small Businesses – SBA EIDL Funding
Summary of Keypoints Overview of SBA Economic Injury Disaster Loans (EIDL): The U.S. Small Business Administration offers low-interest federal disaster loans of up to $2 million to help small businesses experiencing substantial economic injury due to COVID-19. Purpose and use of funds: EIDL funding is intended to provide working capital to support ongoing business operations…
Read MoreTax Credits Provided to Small Businesses
Summary of Keypoints Overview of FFCRA tax credits for small businesses: The Families First Coronavirus Response Act requires small businesses to provide paid sick leave and emergency family and medical leave, while offering refundable payroll tax credits to offset the cost of these required wages. Scope and timing of credits: The FFCRA provides a 100%…
Read MoreFamilies First Emergency Family and Medical Leave Expansion Act
Summary of Keypoints Overview of Families First emergency leave requirements: The Families First Emergency Family and Medical Leave Expansion Act (EFMLEA) and the Emergency Paid Sick Leave Act (EPSLA) require employers with fewer than 500 employees to provide paid leave related to COVID-19, with potential exemptions for employers with fewer than 50 employees if compliance…
Read MoreSBA EIDL Help for Small Businesses
Summary of Keypoints Overview of SBA Economic Injury Disaster Loans (EIDL): Under the Coronavirus Preparedness and Response Supplemental Appropriations Act of 2020, the SBA provides low-interest federal disaster loans to small businesses experiencing substantial economic injury due to COVID-19. Loan purpose and use of funds: EIDL proceeds may be used for working capital needs, including…
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