Loan for Closed Columbiana County Small Businesses
Are you the owner of a non-essential small business in Columbiana County that has been forced to close because of COVID-19? If so, you may qualify for this loan through the Community Action Agency.
COVID-19
A More Local Look at COVID-19 Progress
In a previous post, we looked at the early progress Ohio is making in the COVID-19 fight, according to IMHE modeling. Let’s now take a look a little closer to home and see how the Tri-County Area (Columbiana, Mahoning, and Trumbull) are doing. This chart shows the curves of Confirmed COVID-19 Cases in each county, …
Are We Flattening the Curve?
We’ve all heard the phrase “March comes in like a lion and out like a lamb.” Now, there is a new distinction between the beginning and end of March. At the beginning of this month, none of us had heard the phrase “flatten the curve.” By the end of the month, we had all become …
Update on CARES Act Payroll Protection Program
Overview: The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. The Paycheck Protection Program …
Existing SBA Loans: No Payments on Principal, Interest, or Fees for 6 Months; Other Loan Resources
If you already have an SBA loan, you will have no payments on principal, interest or fees for six months (it is unclear whether this is forgiven or just deferred). More details on loans for small businesses can be found here.
Employers May Defer Social Security Tax, May Claim Tax Credits
Everyone can defer the 6.2% social security tax for 2020 and pay it over two years (half on Dec 31, 2021 and half on Dec 31, 2022). If you had operations suspension or a 50% reduction in quarterly receipts when compared to prior year’s same quarter, you may be eligible for tax credits up to …
Employers May Defer Social Security Tax, May Claim Tax Credits Read More »
CARES Act May Help Employers Pay For 8 weeks Of Payroll, Rent, Utilities
The CARES Act provides for a loan of up to 2.5X your average monthly payroll to basically help pay for 8 weeks of payroll, healthcare, rent and utilities – you need to talk to your bank: The SBA disaster loan is still in place for up to $2M loans, but the newly-passed CARES act created a new …
CARES Act May Help Employers Pay For 8 weeks Of Payroll, Rent, Utilities Read More »
Utility Assistance
The Ohio Development Services Agency has secured approval from the U.S. Department of Health & Human Services (HHS) to extend the Winter Crisis Program from March 31, 2020, to May 1, 2020, and to extend the Home Energy Assistance Program (HEAP) from March 31, 2020, to June 1, 2020. The Winter Crisis Program helps income …
COVID 19 Small Business Finance Options Webinar
Companies and nonprofits impacted by COVID 19 cannot survive or thrive without adequate capital. To position these companies and nonprofits for success, the Montrose Group is hosting a webinar on Friday, March 27, 2020 at 10am Eastern time to review with national experts COVID 19 Small Business Finance Options. Topics to be discussed include the …
Grace Period for Health Insurance Premiums
All health insurers are required to provide the option of deferring premium payments, interest free, for up to 60 calendar days from each original premium due date. This means that employers can defer their premium payments up to two months, giving them some relief on costs, while keeping their employees insured.https://iop-odi-content.s3.amazonaws.com/static/Legal/Bulletins/Documents/2020-03.pdf