Where Loans for Small Businesses Are Going
An interesting article by the Wall Street Journal detailing who is getting the Small Business Loans, what industries, and how much they are getting. Authors – Anthony DeBarros and Yuka Hayashi April 15, 2020 Most of the federally guaranteed small business loans approved so far are for less than $350,000, with the construction industry the biggest beneficiary, according […]
Millions of Americans to receive relief funds this week!
According to the U.S. Treasury Department, by mid-week 10’s of millions of Americans will have received their CARES Act relief funds. The IRS started depositing the first wave of stimulus checks into American’s bank accounts on Saturday April 11th. Those initial deposits were being made to the bank accounts on file for those who filed […]
PPP Loan Processing: David versus Goliath
Observations this morning from Larry Kudlow (Director of the U.S. National Economic Council) are that the smaller community and regional banks are outperforming the major banks thus far (including Wells Fargo, Bank of America and Chase Bank) in processing PPP loan submissions. In fact, we can report that our PEO clients that have utilized the […]
Summary of the SMALL BUSINESS PAYCHECK PROTECTION PROGRAM
We have been getting a lot of questions about the payroll programs the Government is setting up. The Treasury Dept. made this quick one page summary to break down some of the questions and answers that employers have been seeking. The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of […]
Anxious Americans await their relief checks
Individuals and families across the U.S. are eager to receive their CARES Act relief checks from the government, and while they wait, many are asking the same question— “how does the government know where to send my funds?” The Treasury Department is using rules for disbursing the relief funds to Americans based on standards established […]
More Updates with Questions and Answers for the CARES Act (Stimulus Package)
The COVID-19 crisis confronting all Americans and the world at large has created countless health and economic challenges for us all. The U.S. Federal Government’s response to this crisis has been unprecedented. The largest economic relief initiative in U.S. history, referred to as the CARES Act, includes financial relief programs for American citizens and businesses […]
