Nonprofit

Fraudulent Unemployment Claims- Employers & Employees Be Aware & Vigilant

What is happening? The rise in unemployment filings and the expansion of jobless benefits in the ongoing COVID-19 pandemic have enabled an increase of fraud across the country. Your Human Resources department has a responsibility to respond quickly to fraudulent unemployment claims and assist employees whose personal information may have been compromised. Across several states, employers…

Read More

Is Your Organization Utilizing All Available Relief Funds for Healthcare Providers?

The Coronavirus Aid, Relief and Economic Security (CARES) Act established and appropriated $175 billion the Provider Relief Fund. The Provider Relief Fund supports American families, workers, and the heroic healthcare providers on the front lines in the battle against the COVID-19 outbreak. Its mission is to issue relief funding to alleviate financial hardship caused by…

Read More

NJEDA Announces Phase 3 of COVID-19 Grant Program

The New Jersey Economic Development Authority (NJEDA) announced Phase 3 of the Authority’s Small Business Emergency Assistance Grant Program yesterday, October 14th. Phase 3 will be funded with $70 million in Coronavirus Aid, Relief, and Economic Security (CARES) Act funding. This allows for a considerable expansion of eligibility for the program and increases the amount…

Read More

SBA Streamlines PPP Forgiveness for Loans ≤ $50,000

On October 8, 2020, the Small Business Administration (SBA) released a streamlined two-page application (i.e., Form 3508S) focused specifically on small Paycheck Protection Program (PPP) borrowers who borrowed less than $50,000.  Although eligible loans account for only 9% of overall PPP loan dollars, they amount to approximately two-thirds of all PPP loans funded. The instructions to…

Read More

Mercadien Announces Executive Promotions; Names Ms. Lovepreet Buttar A Partner

September 14, 2020; Princeton, NJ & Philadelphia, PA – The Mercadien Group is pleased to announce several promotions within the firm’s corporate leadership team.  Ms. Lovepreet Buttar, CPA, MBA, CGMA, PSA, a member of the Nonprofit & Human Services Group, was promoted to managing director of The Mercadien Group and principal in Mercadien, P.C., CPAs…

Read More

Uptick in False Claims & Fraud Could Spell Trouble for PPP Loan Recipients

Regulatory and enforcement actions are expected to increase in the foreseeable future as a result of the substantial number of businesses that applied for and received funds under the Small Business Administration’s (SBA) Paycheck Protection Program (PPP). Recipients of the PPP loans should be mindful of the legal risks the borrowers and/or organization may face…

Read More

$155M Funding Available for NJ Long-Term Care Facilities

Yesterday New Jersey Governor Phil Murphy, Department of Health (DOH) Commissioner Judith Persichilli, and Department of Human Services Commissioner Carole Johnson announced that $155 million in relief funds will be provided to long-term care facilities.  The funding will assist the facilities with the implementation of a new DOH directive focused on safely reopening long-term care…

Read More

Additional $15M in CARES Act Funding to be Distributed by the NJEDA

On August 11, the New Jersey Economic Development Authority (NJEDA) approved $15.3 million in CARES Act funding through their Small Business Assistance Grant Program. The purpose of adding the additional funding to this program is to provide assistance to businesses located in twelve New Jersey counties that did not receive direct funding from the federal…

Read More

FUNDING ALERT: NJRA SMALL BUSINESS LEASE EMERGENCY ASSISTANCE GRANT PROGRAM

In response to the COVID-19 pandemic, the New Jersey Redevelopment Authority (NJRA) announced a $6 million grant program that allows businesses in 64 eligible municipalities that have been adversely affected by the virus to apply for grants of up to $10,000 to assist with lease payments. The program is targeted toward businesses with less than…

Read More

SBA Issues Procedural Notice for PPP Lender Forgiveness Reviews & Submissions

On July 23rd, the Small Business Administration (SBA) issued the following Procedural Notice regarding the process which lenders must follow in their review of your Paycheck Protection Program (PPP) forgiveness application and how they will interface with the SBA to request reimbursement for loans that they approve for forgiveness. View the Procedural Notice here –…

Read More