SBA Payroll Protection Program Forgiveness Application
Greater Naples Chamber Back to Business Guide
New CDC Guidelines
There have been several significant updates on the COVID-19 recovery front in the last few days.
SBA Payroll Protection Program Forgiveness Application
One of the most important updates for businesses that obtained a Payroll Protection Program (PPP) loan is the release of the actual application that will be used to determine the forgiveness of the loan. It is a much more complex subject than can be covered in a short email or post. The primary takeaway is that you will need to have kept very good records of the expenditure of the funds and your employee count and hours. A link to the application is here. The application for forgiveness cannot be submitted sooner than 56 days after the disbursement of the funds. That is the time period used for the forgiveness calculation, unless using the Alternative Covered Period calculation method. The deadline for filing this application is currently unclear. We will send an update when we have more information. You should consider having an accountant or attorney review your application prior to submittal.
Greater Naples Chamber Back to Business Guide
The Greater Naples Chamber has just introduced an excellent guide to reopening your business. It provides guidance on the relevant CDC, EEOC, OSHA and Department of Labor guidelines and a suggested reopening plan. A very important element of any business’s reopening process is to have a written plan and procedure in place. It should be communicated to all employees. Proof that the business is following the best practices is a defense to any possible future liability claims. It should seek to protect both the employee and employer. A link to the guide is here. While you’re at it, check out all of the excellent resources on The Chamber’s web site.
New CDC Guidelines
The Centers for Disease Control and Prevention (CDC) has released its updated guidance for reopening the country and businesses. It is entitled “CDC Activities and Initiatives Supporting the COVID-19 Response and the President’s Plan for Opening America Up Again.” A link to that guide is here.
This is an ever-changing and challenging time for all of us. Our office is available to answer questions and provide you with guidance. Please stay safe and well.
Patrick Neale & Associates
239-642-1485
info@patrickneale.com
The information provided herein is for informational purposes only and should not be construed as legal advice. The publication of this article does not create an attorney-client relationship between the reader and Patrick Neale & Associates. The reader should not act or refrain from acting based upon the information contained in this article without first contacting an attorney. The hiring of an attorney is a decision that should not be based solely upon advertisements or this article.