Covid-19 News

On March 30, just one day before the original expiration deadline of the Paycheck Protection Program (PPP), President Biden signed into law legislation moving the application deadline from March 31 to May 31. The legislation separates the application deadline and the approval deadline for PPP and PPP2 loans, alleviating concerns by borrowers and lenders regarding…

March 17, 2021, San Jose, Calif. – Stephen Colbert, Host of CBS’s ‘The Late Show with Stephen Colbert,’ announced on last Friday’s episode that 100% of ‘The Late Show’s’ proceeds from a new line of merchandise will be donated to Accion Opportunity Fund’s Small Business Relief Fund to provide critical financial relief and business assistance to small businesses impacted…

By Jennifer Rohen and Jack Rybicki and Chastity Wilson CLA Contact Key insights Evaluate employee retention credit eligibility prior to filing your PPP forgiveness application. IRS issues guidance on surplus wages used for PPP forgiveness. IRS issues guidance to help clarify whether a government order constituted a partial shutdown. Claiming the employee retention credit could have an…

The Southern Opportunity and Resilience (SOAR) Fund aims to support the recovery of small businesses and nonprofits with access to flexible, affordable capital and free business support services across 15 southern states  March 3, 2021 – A diverse group of community finance organizations today announced the Southern Opportunity and Resilience (SOAR) Fund, which aims to raise…

By Matthew Rambaran, Manager CLA T. 267.419.1145 Email Key insights Certain 2020 first draw PPP loans were flagged with hold codes after SBA review. An unresolved hold issue does not prohibit a borrower from receiving a second draw loan, but it may affect the timing of a second draw funding. If you have an unresolved…

Today, Carol Dover, President and CEO of the Florida Restaurant and Lodging Association, released the following statement in response to reports that the White House is considering travel restrictions, including travel to Florida, amid the spread of the latest COVID strain. “The Florida Restaurant and Lodging Association represents 10,000 members across the state who are…

The Economic Aid Act signed December 27, 2020 includes additional funding for Economic Injury Disaster Loan (EIDL) loans and grants. This article includes information about the Targeted EIDL grant application process provided by the SBA. Congress has allocated another $20,000,000,000 in EIDL grants (advances) in the new stimulus bill. By way of background, the CARES Act…

By State Representative Spencer Roach Scammers are trying to use fake websites to lure unsuspecting Floridians into paying for COVID-19 vaccines or appointments that never materialize. HB 9 establishes criminal penalties and authorizes civil remedies to protect Floridians from fraud as they seek to get vaccinated during a pandemic. HB 9 will help prevent scammers…