Guidance Issued on the Paycheck Protection Program Flexibility Act

Payroll Protection Program Funds Are Still Available! If the current economic uncertainty is affecting your business, there is good news, funds are still available under the Paycheck Protection Program. However, borrowers need to act quickly because the deadline to receive a loan number from the SBA is June 30, 2020, and the lender will need […]

Congress Passes the Paycheck Protection Program Flexibility Act

What This Means for Borrowers The coverage period is extended! Borrowers now have 24 weeks from the origination date (or until December 31, 2020, whichever is earlier) to utilize the funds for approved expenditures. This is a substantial increase from the initial eight-week coverage period. This flexibility allows companies that are still not fully operational […]

New loan relief announced for employers with up to 10,000 employees

Main Street New Loan Facility Effective April 9, 2020 1 Program: The Main Street New Loan Facility (“Facility”), which has been authorized under section 13(3) of the Federal Reserve Act, is intended to facilitate lending to small and medium-sized businesses by Eligible Lenders. Under the Facility and the Main Street Expanded Loan Facility (“MSELF”), a […]

SBA programs to help small businesses impacted by coronavirus

Through the recent CARES act, the United States federal government has dedicated over $350 billion in relief for small businesses available through several loan programs. Businesses are eligible if they have fewer than 500 employees and certify that their business has been impacted by COVID‐19. These loans are called: Paycheck Protection Program Economic Injury Disaster […]

Business owners: Get familiar with the moving parts in COVID-19 pandemic

This article is incomplete! Things have gotten weird lately, and most–if not all–of us are sailing through uncharted waters. If you’re like most people, all the tax and policy buzzwords zipping around are amalgamating into a big, amorphous cloud. Here’s a quick rundown of the important moving parts you’ve probably been hearing about. Families First […]

SBA Referral Programs assist with disaster loan caseload

The Small Business Administration has been mandated (and funded) to supply low-interest loans to businesses experiencing hardship due to COVID-19. Coronavirus has proven itself to be such a nuisance, however, that the SBA has enlisted the help of partners to process the applications. Houston area business can reach out to any of the following organizations […]

CARES Act: What it is and what it does

On March 25th, 2020, the much anticipated and debated Coronavirus Aid, Relief, and Economic Security Act was passed unanimously by the Senate. Now the legislation moves to the House for passage and then the President’s desk for enactment which will hopefully occur by the end of the week. While many of the details related to […]

Desroches Partners updates payment preferences in response to COVID-19

With new guidelines about social distancing, our team has starting been remotely. The office is a ghost town and our homes are bustling with activity. Thank goodness we live in a time where miles of distance is no obstacle to clear communication! Because we’re doing our social duty by avoiding face-to-face contact, we’re also adjusting […]

90 ideas to cut costs and increase cash flow

The following is excerpted from the book All About Earnings: 100 Ways to Profit in Any Economy by Barry Schimel and Gary Kravitz. When cash gets tight and you need to cut costs or find ways to increase cash flow always remember that your fellow Vistage group members offer a wealth of good ideas to […]