Nonprofit

PPP Alert – Senate Agrees to Extend PPP Loan Program to August 8th

The Senate passed a bill to extend the filing deadline for Paycheck Protection Program (PPP) loans late on June 30th, just hours before the Small Business Administration (SBA) was set to stop accepting applications.  However, unless and until the House of Representatives approves the language, the SBA will stop accepting PPP applications.  The PPP provides…

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PPP Loan Alert – SBA & Treasury Issue Guidance on PPP Flexibility & Updated Applications

On June 10, 2020, the Small Business Administration (SBA) and Treasury Department issued an interim final rule to address changes made by the Paycheck Protection Program Flexibility Act (PPPFA).  Streamlined PPP loan application forms for borrowers and lenders for loans made on or after June 5, 2020 were also updated and published. The interim final…

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Mercadien Webinar Replay: Capital Markets & M&A Outlook Post COVID-19

Lee D. Boss, CPA, MBA, Managing Director, Mercadien & Valentina Midura, Senior Manaing Director, BDO Capital Advisors, presented a webinar Capital Markets & M&A Outlook Post COVID-19 on Thursday, June 4. During the webinar, they went over: The impact of COVID-19 on Capital Markets Buy-side and sell-side trends and strategies Projections and predictions over the next…

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Changes to PPP – What Should You Know?

On June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act of 2020 (PPPFA).  The PPPFA provides flexibility to borrowers attempting to maximize the benefits provided by the Paycheck Protection Program (PPP) established under the CARES Act. For existing PPP loans, the PPPFA provides the following: Extends the period for PPP…

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Government Accounting Standards Board Response to COVID-19 Pandemic

Similar to the private sector, state and local governments have not been immune to the impacts of the Coronavirus (COVID-19) pandemic. Statewide stay at home orders have limited staffing to essential employees and alternate work schedules, causing many governmental entities to struggle with managing public services while also dealing with the many financial uncertainties the…

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Mercadien Webinar Replay: SECURE & CARES Acts – Impacts on Your Retirement Plan

Peter Ponzio, CPFA, Senior Vice President of Penn Investment Advisors, Inc. & Melissa B. Kurtzman, Shareholder & Co-Chair, Employee Benefits Practice Group of Littler presented a webinar SECURE & CARES Acts – Impacts on Your Retirement Plan on Thursday, May 28th. During the webinar, they went over: The Rules & Effective Dates of the Acts…

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SBA Interim Final Rules on PPP Loan Forgiveness & Borrower/Lender Responsibilities

On May 22, 2020, new interim final rules were released by the Small Business Administration (SBA) providing guidance to borrowers and lenders regarding the SBA’s review process under the Paycheck Protection Program (PPP), including the loan forgiveness calculation and eligibility. Highlights from the May 22, 2020 interim final rules are as follows: The SBA review…

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NJEDA Update: Small Business Emergency Assistance Grant Program – Phase 2 Info Now Available

The New Jersey Economic Development Authority (NJEDA) recently announced $50 million in new funding and broader eligibility criteria for the Small Business Emergency Assistance Grant Program. Under the newly-expanded program, which will provide grants up to $10,000 for COVID-impacted businesses, a wider variety of businesses will now be eligible, including home-based businesses and sole proprietorships.…

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Important Business Considerations for the New Normal

Since the beginning of the COVID-19 pandemic and the issuance of stay at home orders and business shutdowns eight weeks ago, there have been many Federal and State moratoriums, executive orders and updates to governmental guidelines to lessen the impacts of the pandemic. Businesses grappling with decisions made, or to be made, will need to…

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The Challenges Facing Businesses as They Reopen

While New Jersians and Pennsylvanians alike are eager to return to work and life, their plans for normalcy seem to have been thwarted by recent orders by both states extending the stay at home orders in New Jersey and the eastern part of Pennsylvania. However, despite the delay, both states have announced reopening plans, with…

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