On Friday, May 15, 2020, SBA released instructions on how PPP recipients APPLY for the loan forgiveness. This includes the calculation form on page 3. If you have questions, be sure talk with your accountant, sooner rather than later.
Today, May 8, the East Valley Chamber of Commerce Alliance published its survey results from Business Owners responses as of April 20, 2020. Finding Summary: 47% of respondents said they’ve implemented employee furloughs or layoffs, while just over one-third (35%) reduced employee hours. Loans and debt relief continue to be top… Read More »Local AZ Survey Results from the East Valley Chamber of Commerce Alliance (EVCCA)
wanted to share some insights I picked up from lenders regarding acquiring/buying a business with SBA funding at this time. These are lenders’ opinions based on their past experience with the SBA. How is the SBA Funding New Acquisitions? As part of the stimulus packages, they in essence took some SBA… Read More »Timely Insights on Buying a Business with SBA Funds
April 19 2020 Complete list, as of April 20, 2020, of Nationwide Economic Injury Disaster Loans COVID-19, published by the Small Business Administration.
April 15, 2020 Governor’s Executive Order Permits Food Trucks At ADOT Rest Areas Arizona Continues Supporting Trucking Industry During COVID-19 Pandemic PHOENIX — To help the long-haul truckers keeping Arizonans supplied with food and essentials, Governor Doug Ducey today issued an Executive Order allowing food trucks to operate at eight Arizona… Read More »Governor’s Executive Order Permits Food Trucks At ADOT Rest Areas
PLANNING AFTER SUBMITTING Make a plan for the amount requested. Focus on provability – 75% must be used for qualifying payroll costs and 25% or less can be used for business expenses like rent and utilities. RECEIVED PPP LOAN – DOCUMENT, DOCUMENT, DOCUMENT & FOLLOW THE RULES You may want… Read More »After Submitting PPP, Key Dates, Planning and Documentation is Key
Every Arizona hospital, clinic, physician’s office, skilled nursing facility, and assisted living facility faces a shortage of medical supplies needed to protect and treat their workers and their patients and residents. The supplies exist – the shortage stems from a lack of money. ProtectAZ is purchasing those needed supplies, locally… Read More »Bringing Medical Supplies to AZ
An overview of programs…from tax extension to individual and business programs. A big thank you to Business Brokerage Press, for providing this Overview of the program – what it is, how long, who’s eligible, what’s available, terms, and how to apply.
As part of SBA’s debt relief efforts, The SBA will automatically pay the principal, interest, and fees of current 7(a), 504, and microloans for a period of six months. The SBA will also automatically pay the principal, interest, and fees of new 7(a), 504, and microloans issued prior to September 27, 2020.… Read More »Buying A Business? NOW is the time.
April 8, 2020 “Borrowers and lenders may rely on the guidance provided in this document as SBA’s interpretation of the CARES Act and of the Paycheck Protection Program Interim Final Rule (“PPP Interim Final Rule”) (link). …” If applying for PPP, Tim Collins, Texas Capital Bank, states that your… Read More »Paycheck Protection Program Loans FAQS – as of April 7, 2020