Paycheck Protection Flexibility Act Becomes Law; Extends Employer Social Security Tax Deferral for PPP Loan Recipients
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 section 2302(a)(3). At the same […]
Here Is Everything You Should Know about Economic Injury Disaster Loans (EIDLs)
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 was opened for small businesses […]
NJ Accounting Service gives Advice for Loan Packaging
One of the most important steps to the successful launch of a new business is to find a source of initial funding. Sometimes a single loan is not enough to actually get your business up and running. This is where loan packaging can come into play. Loan packaging can involve using multiple forms of collateral […]