Last week the United States federal government passed a $2 trillion stimulus package that offers help for businesses of all sizes, including small companies. Here's how you can find out more information on how to apply for loans and where to find the best resources for your business.
Small Business Administration
The SBA has a number of loan options available for small businesses. The Paycheck Protection Program is the most significant initiative that plans to assist small businesses who are impacted by COVID-19. This program is designed to provide direct incentive loans to companies with 500 employees or less who are keeping their workers on the payroll. The SBA is planning to forgive loans for small businesses who continue to keep employees on their payroll for eight weeks. The loan must be used for rent, mortgage interest, payroll or utilities.
For more information on how to apply for loans through the Paycheck Protection Program you can visit the official SBA website. Loans are being processed as early as today, April 3, 2020, and the program will be available through the end of June 2020.
AMSA has organized a webinar for their members this Monday, April 6th at 3 pm EST. They will provide further details on how this stimulus package can specifically help companies in the moving industry and their employees. Topics covered will include the Paycheck Protection Program and expanded unemployment benefits.
Companies who use Elromco’s Moveboard can keep up to date with projected income by tracking those details using the statistics feature. The main statistics section will provide you with current and past figures so that you can compare totals from recent months to those of previous years. Use the filters to set up your desired date range.
The statistics feature in your Moveboard software also provides you with your profit and loss calculations. Simply set the date range and you will see your estimated income, actual income, expenses and profit.
As always, the Elromco support team is here to assist you with any questions you may have regarding your Moveboard.