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Information provided on this page is informational only. Please review your financial situation with a qualified financial professional before taking action

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A Helpful PPP Loan Forgiveness Tool for Small Businesses

Small business owners wear a lot of hats. This past year, one of those hats likely included understanding and applying for various government support programs in response to the coronavirus. One of the most popular programs to help small businesses was called the Paycheck Protection Program (PPP). The program provided loans to small businesses, much of which could be forgiven tax-free, if used for payroll or other eligible services. But, like many government programs, this requires certain forms to be filled out, and specific information reported in order to apply for forgiveness. Thankfully the AICPA helped develop an online tool to assist with the application process.

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More Self-Employed Coronavirus Relief in New Hampshire - SELF Grant

With many individuals and businesses struggling because of the coronavirus it seems like a new government program is coming out every week. Between federal programs and specific state programs it's hard to keep track of it all! This week New Hampshire has started a new program for self-employed persons. The program is called the Self Employed Livelihood Fund (SELF) Grant, and will be accepting applications through July 17th. Here's what you should know about this program and whether you, or someone you know, might qualify.

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Small Business Owners Receive Additional Relief From PPP Loans

Many small businesses across America are struggling as stay at home orders and social distancing impact their ability to do business. In late March the federal government passed the CARES Act which included broad provisions to support individuals and businesses. One of the major highlights of the bill was the introduction of the Paycheck Protection Program. Much of what makes these loans so compelling is the fact that much of the borrowed money can be forgiven. This week the Paycheck Protection Flexibility Act was signed into law to provide additional assistance to businesses who used the loans, and also to make the forgiveness requirements less stringent.

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New Hampshire Businesses Need to Act Fast For Possible Financial Assistance

The coronavirus has wreaked havoc on many businesses in New Hampshire, and around the country. The federal government passed the CARES Act with much of the bill intended to provide much needed assistance to both individuals and businesses. The bill also provided emergency funding to states of which New Hampshire was allocated $400 million. NH has created the Main Street Relief Fund to provide some assistance to small businesses who have been negatively financially impacted by the pandemic. If you own and operate a business in New Hampshire, or know someone who does, please pass this information along because time is running out to apply for additional stimulus.

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More Stimulus for Small Businesses Likely on the Way

Nearly every day we hear tragic news of individuals and businesses suffering from the fallout of the coronavirus. This led the government to pass an enormous 2-Trillion dollar stimulus bill, the CARES Act, near the end of March. One of the more popular programs aimed at small businesses was the Paycheck Protection Program. This part of the bill provided loans to eligible small businesses where some of the proceeds could be forgiven, tax free, if used for certain expenses. However, there was such a high demand for these loans that the program ran out of funding as quickly as about two weeks ago, less than a month later. Late last week Congress passed another stimulus bill adding additional funding to the Paycheck Protection Program, which was signed into law by the President Friday.

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