AICPA Recommendations How to Receive Loan Forgiveness Under Payroll Protection Program

AICPA PPP Recommendations

The SBA Payroll Protection Program (PPP) has many moving parts and some details keep getting tweaked. The primary benefit for many small business owners is to obtain loan forgiveness, but this is also the complicated part of the program. To help small business owners, the American Institute of CPAs (AICPA) released recommendations on the appropriate […]

American Institute of CPAs Suggests Federal Reserve Provide Loans on Receivables

Federal Reserve

The American Institute of C.P.A.s (AICPA) has called for the Federal Reserve to create a federally backed, short-term accounts receivable lending facility that would allow companies to pledge future receivables and, in return, receive immediate cash flow. The AICPA’s proposal suggests 90- to 180-day lending arrangements with the federal government. Currently, there is no federally-backed […]

The SBA Paycheck Protection Program Round 2 Starts Today Monday April 27

SBA Small Business Administration

Last week, Congress and the President approved an additional $310 billion for the SBA Paycheck Protection Program (PPP) as part of a $480 billion in additional coronavirus relief. The SBA announced it will take applications again for PPP loans on Monday, April 27, at 10:30am EST. Over the last week, the news has focused much […]

How to Keep Track of Your Ecommerce Business Expenses

Accounting

It’s not a secret that the key to a successful business lies in effective management. Many businesses have grown and died out because of the way they were managed and one crucial aspect of managing a business is tracking business expenses. Why Does Expense Tracking Matter? Information is success — not only does it help […]

Survey Claims Only 8% of Small Businesses Owners Received Money From CARES Act

A survey conducted by Alignable, a four million-member strong small business referral network, claims that only 8% of small business owners have seen any money from the CARES Act relief programs. Another 14% of respondents said they were approved for it, but aren’t sure when or if it’s coming. Beyond that, 72% of small business […]

Law Firm Files Class Action Lawsuits Against Biggest Banks for Alleged PPP Loan Deception

Paycheck Protection Program Application

Consumer attorneys with Stalwart Law Group have filed four class-action lawsuits in California federal court on behalf of small business owners after four major banks rejected their Paycheck Protection Program (PPP) loan applications. In response to the COVID-19 pandemic, Congress passed the CARES Act, which allocated $349 billion in emergency funds for the small business […]

The Importance of Managing Backend Ecommerce Operations During COVID-19

Ecommerce

Stay-at-home orders across the U.S. have radically changed how consumers think and go about shopping for essential and non-essential items. For many consumers, online shopping has become the de facto choice to browse and make purchases, which has had a major impact on ecommerce sales across industries. Since the Trump administration declared a national state […]

GoDaddy Builds Coalition of Companies to Support Small Businesses Through #OpenWeStand Movement

GoDaddy #OpenWeStand

GoDaddy announced that over 30 brands, including American Express, Nextdoor, PayPal, Salesforce, and Slack, have joined the company’s growing #OpenWeStand movement. These companies are contributing resources, tools and insights to help sustain entrepreneurs and the small and microbusinesses they operate during this challenging time. Brands who joined the #OpenWeStand movement include: Acronis American Express Association for Enterprise […]

SBA Announces It is Out of Money for PPP Paycheck Protection and EIDL Disaster Relief Programs

SBA Small Business Administration

SBA has run out of funding for Paycheck Protection Progam (PPP) and EIDL (Economic Injury Disaster Loan) relief programs for small businesses. This was posted on Thursday on their website. Lapse in Appropriations Notice: SBA is unable to accept new applications at this time for the Paycheck Protection Program or the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance […]