Act Today on the Federal Paycheck Protection Program
The Paycheck Protection Program (PPP) process has begun. The financial institutions that process Small Business Administration (SBA) loans are taking applications and are making funds available for businesses with less than 500 employees.
Here is a High-level Overview of the PPP Relief Benefits
- Loans can be for up to 2.5 times your monthly average payroll and benefit costs from the last year, with certain limitations.
- The loans are 100% forgivable if employee and compensation levels are maintained; and the money is used to cover payroll costs, certain interest, rent, and utilities over the 8 week period after the loan is received. There are restrictions and limitations that LVBW can review with you.
- There is a limited amount of money available nationwide and is on a first come first served basis.
- There are other COVID-19 relief items to be aware of, but the PPP SBA loan process is time-sensitive.
LVBW’s Value Reconstruction Program
The PPP loan is a window of relief to keep your valuable employees during these uncertain time; giving business owners time to prepare a plan to move forward. Our firm has created a Value Reconstruction program to help businesses evaluate their business conditions. It is a 3-phase process starting with Recovery, then moving to Stability and finishing with Growth.
Contact Us for Support
The professionals at LVBW will help you navigate through this complicated time. Please ask for Mindy Elniski at her direct line 716-204-9866 or email her at firstname.lastname@example.org Additional information on the firm can be found at www.LVBWcpa.com