IMPORTANT UPDATE: SBA Issues Guidance Regarding Implementation of Paycheck Protection Program
The U.S. Small Business Administration (SBA) has released an interim final rule on the Paycheck Protection Program (PPP) established by the CARES Act. The interim final rule outlines the key provisions of the PPP, and contains important guidance about its implementation.
Some of the highlights include the following:
Loans are first-come, first-served, so [...]
IMPORTANT UPDATE REGARDING SMALL BUSINESS LOANS UNDER THE CARES ACT
The U.S. Department of Treasury issued guidance on March 31, 2020 regarding the $349 billion dollar Payment Protection Program (PPP) established by the CARES Act. The legislation provides for job retention loans to cover eight weeks of payroll and certain qualified expenses for overhead. The applications are expected to be accepted starting on April 3, 2020. Applications can be submitted to participating [...]
Important Resources from LGT
New York Businesses:
“Essential Businesses” guidance: https://esd.ny.gov/
Executive Orders: www.governor.ny.gov/keywords/executive-order
Paid Sick Leave info-graph: https://www.governor.ny.gov/sites/governor.ny.gov/files/atoms/files/COVID_Sick_Leave_Employers_3-18-20_1.pdf
Paid Family Leave: https://paidfamilyleave.ny.gov/employers
Unemployment: https://labor.ny.gov/unemploymentassistance.shtm
Shared Work Program (potential alternative to [...]
Dear Clients, Colleagues & Friends:
Levene Gouldin & Thompson is closely monitoring the information available to us relating to the COVID-19 pandemic. We are making every effort to protect the well-being of all concerned and maintain our ability to provide exceptional client service while protecting the health and safety of our clients and employees. Our offices remain fully operational. LGT has contingency plans in place that will enable us to provide uninterrupted service to our [...]
The number of older Americans with student loan debt – either theirs or someone else’s -- is growing. Learning how to deal with this debt is now a fact of life for many seniors heading into retirement.
According to a study by the Consumer Financial Protection Bureau, the number of older borrowers increased by at least 20 percent between 2012 and 2017. Some of these borrowers were borrowing for themselves, but the majority was borrowing for others. The study found that 73 percent of [...]