Alert – Governor Hogan is scheduled to hold a press conference today at 3:00pm. Watch on TV or Facebook.
SBA Paycheck Protection Program Updates and Implications – Fri, May 8, 10:00 to 11:00 AM (EDT) Register Here
Updates on the Paycheck Protection Program (PPP). Presented by: Stephen Umberger, Baltimore District Director, U.S. Small Business Administration.
How To Save Your Business Through Downturn Management–Plus PPP, EIDL, And Main Street Lending: What’s The Latest? – Forbes
Was Your PPP Loan ‘Necessary’? If Not, There Could Be Horrific Repercussions – Forbes
Ten Things We Need To Know About Paycheck Protection Program Loan Forgiveness – Forbes
Inc. and the U.S. Chamber of Commerce virtual National Small Business Town Hall
Friday, May 8, at noon ET, Register here: https://events.inc.com/nationaltownhallevents-7
Information about federal relief programs, including the Main Street Lending Program, how to navigate loan forgiveness guidelines, retention and rehiring of employees, and a host of other issues.
New – Main Street Lending Program- The Federal Reserve has announced this program to support lending to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 pandemic. The Program will operate through three facilities: the Main Street New Loan Facility (MSNLF), the Main Street Priority Loan Facility (MSPLF), and the Main Street Expanded Loan Facility (MSELF). Term sheets for each facility and Frequently Asked Questions (FAQs) providing more information regarding eligibility and conditions can be found here: https://www.federalreserve.gov/monetarypolicy/mainstreetlending.htm
Need PPE Supplies? New Site: www.marylandmanufacturingnetwork.com has separate tabs for suppliers and buyers. The State Department of Commerce joined with the Maryland Manufacturing Extension Partnership (MD MEP) to create the Maryland Manufacturing Network Supplier Portal. Those looking to purchase essential items can use the website’s search feature to find products ranging from face masks and gowns to reagents and cotton swabs. Suppliers can fill out a survey listing what they already produce or requesting help to switch over to making essential items.
Important Updates Regarding Loan Forgiveness Calculations and Returns
On May 5, 2020, the Small Business Administration (“SBA”) and U.S. Treasury revised their FAQ concerning the CARES Act and the Paycheck Protection Program. This new guidance clarifies PPP loan forgiveness amount calculations and extends the deadline for PPP borrowers to return loan proceeds. (FAQ also attached)
Get the Guide : The Maryland SBDC has prepared the “COVID-19 Small Business Survival” Guide (updated 5.4.20) to provide education and resources to guide business owners through this global pandemic. It is one of the most comprehensive guides I have found. Check it out. Also attached as a PDF.
NFIB (National Federation of Independent Business) Weekly Webinar– If you missed it today, slides are attached. Covered topics: Loan Program Updates, Workplace Safety Update and HR Headaches with examples and Q&A. NFIB-Webinar Weekly Update Slides-05-06-20
Want a better way to take notes? Try this: Brain expert Jim Kwik’s whole new way to take notes is genius. — Inc.
