Important: The Consolidated Appropriations Act 2021 gives you a new shot at much-needed funding with a new round of the Payroll Protection Program (PPP).
You may not have realized it, but the requirements for the PPP have been updated, and you could get first-time − or even more − money. But you’ve got to apply for your share of the $284 billion before the funds run out. The program closes March 31, 2021 if not sooner.
Your practice is counting on you to know exactly how to apply for new or additional PPP funds. Luckily, there is a way for you to save your practice from COVID-19 losses.
The good news is help is available, and it doesn’t include waiting for hours on the phone for your lender or the Small Business Administration (SBA) to get the answers you need.
On Tuesday, February 9th at 3 pm ET, accounting expert, Manny Cosme, is presenting a 60-minute online training session that will walk you step-by-step through how to apply for the new round of PPP funding including how to receive your relief funds, be fully forgiven for your loan, and other must-know specifics of this funding version.
Here are just a few of the PPP Loan Application Round 2 questions you’ll get answered when you attend this upcoming, 60-minute online training:
- Who is eligible for this new round of funding?
- Can your practice receive money if you already received funds in PPP round 1?
- How is the amount of the funding calculated?
- When is the deadline to apply for a “second draw” loan?
- What are the loan maximums and limitations?
- Can funds from this version be used to cover general operating expenses?
- Do the original rules regarding employee attrition limits and minimum payroll spending still apply?
- If you returned some of your original PPP funds, can you get more now?
- Are you still allowed to choose a coverage period of between 8 and 24 weeks?
- Are the expenses covered by the PPP loan tax deductible?
- What rule has been made regarding interest rates on PPP loans?
- If your practice couldn’t secure a first-round PPP loan, can you get one now?
- What’s the new rule about the tax status and tax deductibility of forgiven PPP loans?
- If your practice receives a PPP loan, are you eligible to receive loans from other lenders or programs?
- Are you eligible for credit from other institutions even if you receive PPP funding?
- Is this version of the legislation earmarked for medical practices?
- How long is the loan maturity and deferral period?
- And so much more…
Who should attend? This training session is essential for every medical practice regardless of whether you treat COVID-19 patients or not as it provides you with the EXACT steps you MUST take to have your application approved before funding runs out. By attending this session, you’ll know the plans and training you must have in place to quickly receive first time or additional PPP money.
Your practice is depending on you to do all you can to help it survive the chaos of 2020. This online session will help you secure money to pay employees, rent, or help with COVID-19 related expenses. And these funds won’t have to be repaid if you report them correctly. PPP Application Round 2.
Don’t risk missing out on attaining and keeping the funds you need for your practice’s financial security.
Sign up for this online training session today! PPP Application Round 2.
An entrepreneur with diverse accounting experience and a love for sharing knowledge, Manuel “Manny” Cosme, founder of CFO Services Group is driven to help other small businesses With more than 15 years focus on managing finances and administration, Cosme has the high-level experience and training that his clients need and want. He worked as a financial statement auditor in a national public accounting firm and left to join a small accounting firm focusing on bookkeeping, payroll, and tax preparation for small businesses.
In addition to leading the team at CFO Services Group, Cosme serves as the Treasurer of the Board of Directors for both the Equality Chamber of Commerce DC Metro Area and the Greater Washington Hispanic Chamber of Commerce, and is Finance Chair for Entrepreneur Organization DC Accelerator program.
Cosme graduated summa cum laude from the School of Economics and Business Administration at Saint Mary’s College in California, with a dual major in Accounting and Economics and a minor in Mathematics.