MITCNC Event
[Virtual Event] Taking Advantage of the SBA Loans — Keeping Your Staff Employed
Apr 07 - Virtual Event
[Virtual Event] Taking Advantage of the SBA Loans — Keeping Your Staff Employed
Apr 07 - Virtual Event
You’ve heard about the unprecedented increase in jobless claims. In parallel with generous new unemployment benefits, the CARES Act, to reduce layoffs, created aggressive SBA loan + loan forgiveness programs with strong incentives to help you keep your staff working and on payroll.

 

U.S. Treasury “Although the program is open until June 30, 2020, we encourage you to apply as quickly as you can because there is a funding cap and lenders need time to process your loan.”

We will share insights, best practices on next steps to help you keep down the jobless claims

  • FFCRA: Families First Coronavirus Response Act: link
    • Tax credits for the cost of providing employees with COVID-19-related leave
    • Up to $10K, or up to $2K for care of another, including home schooling
  • ERC: Employee Retention Credit: $5K/employee: link
vs:
  • EIDL: Economic Injury Disaster Loans and Loan Advance: link
    • 15-min application process -- online starting March 30
  • PPP: Paycheck Protection Program: linknew app from Treasury
    • You apply through a private lender
    • applications accepted starting April 3
    • Self-employed/independent contractors can apply beginning April 10

We encourage all job creators — up to 500 employees, or just yourself as a sole proprietor or independent contractor — to start your research now if you have not already.

We encourage MITCNC members to check out the sba Slack channel for realtime knowledge sharing.

In exchange for the value you receive from this event, we ask that you make a donation (in an amount of your choosing) to the MIT COVID-19 Response Funds.

MITCNC alums: Please make sure you are a current member of the club before registering. If you are unsure or would like to join the club, click here.

MIT CLUBS OUTSIDE OF CNC: Please ask your club representative for a special code for discounted pricing to this event
Event Closed

Date and Time
Tuesday, April 07, 2020
04:00 PM - 05:00 PM PT
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Primary Contact
Jason Escamilla
jason@impactadvisor.com

Speakers