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.
Small Business
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 »
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 …