On March 25, 2020, the SBA expanded its Express Bridge Loan disaster relief funds program nationwide to provide small businesses with coronavirus relief. The Small Business Administration’s Express Bridge Loan Program is a quick way for small businesses affected by COVID-19 to get up to $25,000 to cover operational expenses.
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For all small business owners who have applied for an EIDL advance grant, you will be eligible for up to $10,000. The SBA emergency grant is one of the temporary programs that is designed to offer financial relief as part of the CARES Act. As of June 15, 2020, the
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The Internal Revenue Service (IRS) and the Department of the Treasury on May 7, 2020, decided to revise their frequently asked questions (FAQs) guidance on the Employee Retention Credit to allow employers that don’t pay wages but continue to cover the health plan expenses for laid-off or furloughed employees, to
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President Trump signed the Paycheck Protection Flexibility Act (PPFA) and made certain changes to the Paycheck Protection Program that was enacted as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act in March. Section 4 of the PPFA has amended Section 2302(a) of the CARES Act to delete
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Governor Phil Murphy issued Executive Order 103 on March 9, 2020, declaring a state of emergency and a public health emergency to ramp up New Jersey’s efforts to contain the spread of COVID-19. There were subsequent containment measures announced and are continuing to be announced, including restrictions on public gatherings
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When the Economic Injury Disaster Loans (EIDLs) first became available on March 30th, small businesses applied for them in droves. In general, these loans only provide assistance when natural disasters occur i.e. tornados, floods, or wildfires. However, after President Trump declared COVID-19 a national emergency on March 13th, the door
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On June 5, 2020, in a rare act of bipartisanship, President Trump signed into law the Paycheck Protection Program Flexibility Act (PPPFA). It was done to address most of the concerns expressed by the small business community surrounding the Paycheck Protection Program (PPP), which had been signed to provide relief
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The differences between exempt employees and non-exempt employees can create a lot of confusion for employers and workers. Irrespective of whether you qualify for overtime pay or minimum wage, or work for more than 40 hours every week, the Fair Labor Standards Act (FLSA) governs the exemption status. Some jobs
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