Mainebiz hosted a two-part webinar series on Wednesday, April 8, 2020 and Thursday, April 9, 2020, covering the relief programs available to businesses through the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Pierce Atwood employment attorney Katy Rand participated in part one, covering the Paycheck Protection Program (PPP), specifically who is eligible for the PPP, how to calculate what you can borrow, and how to manage your staffing numbers in order to be in compliance for partial or total forgiveness. Katy was joined by Amy Bassett, District Director for the Small Business Administration and Seth Weber, Principal at BerryDunn.
Business attorney Andrea Suter participated in part two, covering the Economic Injury Disaster Loan (EIDL) program and other grants, loans, and credits thay may be available to businesses who may not qualify for PPP. In addition to EIDL program, businesses may be eligible for Alternative Minimun Tax (AMT) and employee retention credits, delay of payroll taxes, and provisions for pre- and post-SBA loans. Andrea was joined by Mark Delisle, State Director of the Maine Small Business Development Centers; Peter St. Onge, Director of Branch Experience at Infinity Federal Credit Untion; and Steve Bosinger, CPA-Partner at Austin Associates, P.A.