UPDATE: The form this post references has been revised to ask whether the United States is the “principal place of residence for all employees of the Applicant included in the Applicant’s payroll calculation”.
Based on the text of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the fact that a company has foreign owners shouldn’t necessarily disqualify it from participating in the Paycheck Protection Program (PPP).
But the form used to apply says otherwise.
Continue readingIn the Coronavirus Aid, Relief, and Economic Security (CARES) Act, Congress appropriated $349 billion for loans to small businesses. These loans, issued under the Paycheck Protection Program, are aimed at helping small businesses keep their workers on payroll by providing loans, up to $10 million, that are partially forgivable.
Let’s explore some of the details of this important program instituted as part the U.S. Government’s response to COVID-19.
Continue readingCongress is expected to pass a huge coronavirus stimulus package in the coming days. While lobbyists and congressional staffers wrestle over the last bits and pieces to find their way in to the bill, there seems to be a pretty important group left out—small business federal contractors.
Continue reading