We are very happy to inform you that the online application for the PPP loan has finally been published.Download Here
COVID-19 and the CARES Act are putting employers in situations where solutions are unclear. We want to help bring some clarity to the table.
Over the past few days, we have received a lot of inquiries from employers asking a question along the lines of:
“Do I keep my employees on payroll, or do I lay them off (or furlough them)?”
This is a tough decision. There are a few criteria that need to be considered:
- Has your business been ordered to close?
- If so, when you re-open, will it take a while for your revenue to come back?
- Has your revenue been negatively affected?
If these are questions you are asking yourself as a business owner, then please read this pdf that lays out two different approaches for how to use the SBA 7(a) Paycheck Protection Program loans:Approaches
Tembo has been tweeting the SBA constantly for the past week and commenting on all their posts, in an effort to push the SBA to release some guidance on the process for applying for PPP Loans and what timing we should expect. So far, our tweets have been met with silence. I guess we need to tweet louder! If you’re on twitter, please follow @tembocpas and like and retweet our SBA tweets – maybe together we can get them to provide us with the information that all small businesses need to have.
Feel free to share this email and this attachment with any business owners you know.
We are here to support the success of all small business owners.
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