Just know, we are open and are here to help. Stay safe
Congress just passed new COVID-19-related legislation. There are important benefits that may provide finacial assistance to small businesses during this difficult time.
Some of the provisions in the newly passed law are:
— Over $350 billion in small business loans;
— Waiver of many of the past criteria necessary for an SBA-backed loan qualification;
— Increases in maximum loan amounts;
— Loans to cover operating costs such as salary, sick leave, mortgage payments, and other obligations;
— And, BEST OF ALL, under certain circumstances, including retaining employees, the loans may convert to grants that would NOT require repayment!!!
Additional guidance from the Treasury Department will be forthcoming. Generally, employers with 500 or fewer employees within the United States are eligible.
Stayed tuned for additional info.
Families First Coronavirus Response Act goes into effect April 1, 2020. It provides significantly expanded benefits for employees that are unable to work due to Coronavirus. It also provides 100% tax credits to employers that pay out benefits under the FFCR Act. Below is a summary of the Act. Should be very beneficial for employees as well as employers.
Let me tell ya about the WONDERFUL people I work with here at the Wood Law Firm!!!! They have been taking great care of our clients from their home workspaces and haven’t missed a step. We have met with clients that needed face-to-face meetings (outside in the courtyard) and have been taking on new clients remotely. If you need to sign a document or get a document from us or to us or have a conference with us we are doing that 100% over the computer!!! I am so very blessed to work with these great ladies!!! May you all stay healthy. Life goes on.....
