Are you caught up on the latest Congressional small business funding and how it can help you pay your employees? Do you know the right reports to run in order to access these critical loans to help retain your workforce during these uncertain times? At Performance HCM, we try to keep up with every piece of legislation by hosting webinars that help demystify all of the legislative acronyms and allow you to easily access the information out of your environment that you need.
At the end of March, Congress passed into law the Coronavirus Aid, Relief, and Economic Security Act (more affectionately known as the CARES Act). This act was meant to begin to safeguard employers from bankruptcy through the Paycheck Protection Program and, broadly speaking, provides forgivable loans to fund payroll.
If you are looking for an in depth read out of how you can qualify for the PPP, then we highly recommend you either watch one of our recorded webinars, or join our next one live!
Now, $349 billion in stimulus loans were quickly snagged since this was a golden opportunity to maintain a company’s workforce merely by running a few reports and submitting a quick application. These reports, by the way are currently available in your environment (see below) and can be run for your next application as the next batch of funding from Congress has just been approved!
CARES Paycheck Protection Program Report
CARES Act Payroll Cost Report, Cares SBA-PPP Census XLS
As of 4/23/20 the House of Representatives extended funding for small businesses and this means that items will evolve again. As always, we will provide webinars as information arises and so we have scheduled them accordingly. You can look for our recordings and PowerPoints of all of our webinars, as well as any other helpful COVID-19 info on our website at https://performancehcm.com/coronavirus-updates-faq/