COVID-19 Support Blog

In this episode of SurePayroll’s Mainstreet Minute, Holly Wade, Executive Director of the National Federation of Independent Business, discusses the PPP loan forgiveness program. Listen to the Back of the Napkin episode featuring this Mainstreet Minute segment.

Editor’s note: These announcements by the SBA of changes to the PPP loan forgiveness process potentially impact lenders and borrowers. SurePayroll is sharing the information but is not involved with the lending process Businesses that borrowed $150,000 or less from the Paycheck Protection Program (PPP) during the COVID-19 pandemic could see a reprieve in the time it takes to apply for forgiveness. The Small Business Administration (SBA) notified banks of its plan to open a portal through lending institutions that opt-in to use it, so if your PPP loan lender opts-in then you can take advantage. The SBA anticipates the entire loan forgiveness application process could take applicants only a few minutes. The SBA released this information and additional details about its new COVID Revenue Reduction Score on July 28, 2021 in its Interim Final Rule on PPP loan forgiveness. The score impacts second-draw PPP loan recipients.  

Ohio Program Aimed at Providing Grants for Businesses That Opened in 2020

New York to Offer $800M Grant Program to Help Small and Micro-Businesses Recover from COVID-19 Pandemic

The Shuttered Venue Operator Grant program has allocated $16 billion to businesses such as live venues, theaters, museums and other organizations that had to remained close through much of the COVID-19 pandemic.

Under the American Rescue Plan Act, eligible individuals who have lost employer-sponsored health insurance after involuntary job loss or because of reduced hours will have COBRA continuation coverage subsidized 100 percent for a specified time period.

In the past 12 months, beginning in April 2020 with the enactment of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Employee Retention Tax Credit (ERTC) provision has been impacted by two other laws.

With the signing of the American Rescue Plan Act of 2021 by President Biden on March 11, 2021, many provisions from previously enacted stimulus legislation during the COVID-19 pandemic will be impacted.

On Sunday, December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021, into law. The relief act puts the nation’s businesses impacted during the COVID-19 pandemic one step closer to gaining an opportunity to secure stimulus funds that provide financial relief.

On Sunday, December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021, into law. 

Small business owners often find themselves in a dilemma: they want to grow their business to meet demand, but tight financial circumstances can make it difficult to expand.

The outcome of the 2020 elections did not change the challenges facing business and employees in the United States. Stimulus, the economy, taxes, and health care — all pocketbook issues — along with retirement remain top of mind.