By now, most of you have submitted applications for the Payroll Protection Program. Many of you have been approved for your funding and some have already received deposits in their bank accounts.
This week’s video talks about:
- Some of the requirements regarding PPP and things you need to do to be in compliance.
- Strategies to work your AR.
- Seeing the positive during these crazy times.
A note of clarification. For those people who have received or will receive PPP funds, you need to maintain your full time employee headcount in order to avoid having to pay back that money. As always, you should consult with your bank/accountant/attorney to be sure you are staying in compliance in order to have your loan forgiven at the end of the term.
There are a lot of reports that the money has already been used up for the PPP. If you haven’t yet applied, I would encourage you to do so as soon as possible. It’s likely that the government will fund more stimulus for small businesses and better to get in line now.
During this period of quarantine, take some time to appreciate some of the benefits of being at home and some of the positive changes the world will experience as a result of this pandemic.
During the dark times, it’s important to see the light.
Have a good week.
Lowell