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There are 3 actions that are being recommended for businesses to consider:
 
1.  SBA Disaster Loans  (Apply through SBA website, has $10k emergency grant)
2.  SBA Payroll Protection Program (Apply through traditional bank...has 2x monthly payroll available as forgivable grant amount)
3.  Ask you banker about expanding your existing lines of credit, or other options for additional liquidity to help cover business shortfalls during the slow period.
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The order applies to in-person proceedings in all state and local courts in Alabama: Circuit, district, juvenile, municipal probate and appellate courts.
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It was announced over the evening that both parties had come to an agreement regarding the CARES Act for Covid19 relief.   There is a ton in the bill, but a relatively small section is devoted to SBA financing support for impacted businesses.  
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For Immediate Release | For More Information, Call Wanda Heard at 205.930.1483   -  ORDER OF THE JEFFERSON COUNTY HEALTH OFFICER SUSPENDING CERTAIN PUBLIC GATHERINGS AND CLOSING NONESSENTIAL BUSINESSES AND SERVICES DUE TO RISK OF INFECTION BY COVID-19

 

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The new FFCRA which was signed into law March 18th, 2020 contains two separate laws, the (1) Emergency Family and Medical Leave Expansion Act (“EFMLEA”) and (2) Emergency Paid Sick Leave Act (“EPSLA”), that impose paid family and sick leave obligations on employers with fewer than 500 employees.  The Act will go into effect no later than 15 days after the enactment of the FFCRA (April 2, 2020) and the Act will expire on December 31, 2020.
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In addition to the tax payment deadline that was previously extended, (link - https://www.irs.gov/newsroom/payment-deadline-extended-to-july-15-2020) the IRS announced today that at the President's direction the IRS is moving Tax Day back from April 15 to July 15.
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Did you know that last May (2019) that NASAA adopted new state cover sheets and state effective dates page for franchise disclosure documents. Beginning January 1, 2020, any FDD must now include three new cover sheets following the guidelines provided by NASAA.

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Another year has come to a close and with the dawn of a new year comes the inevitable annual changes to rules and regulation governing our businesses.  To help highlight some of the areas to consider, SHRM has given us "7 HR department areas to update in 2020", including
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On June 19, 2018, the U.S. Department of Labor (DOL) issued an updated definition of “Employer” under Section 3(5) of ERISA (Association Health Plans), which was finalized in the final rule on July 10th, 2018.
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The U.S. Small Business Administration created the SBA Franchise Directory to try and streamline the process for entrepreneurs looking to access capital.

According to SBA Associate Administrator Willam Manger, “It’s a one stop shop to check the growing list of eligible brands for SBA financing.  Since its establishment, the Directory and new procedures have received extremely positive feedback from the stakeholders participating in the process."

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In a world that has become increasingly complicated and uncertain, you deserve an attorney who is result-oriented, responsive and respected. 

 

 

Contact Info

4000 Eagle Point Corporate Dr. 
Birmingham, AL 35242

(205) 701-5536

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Office Hours 9.00 am to 5.00 pm
By Appointment Only

Twitter Feed

ACA Webinar-Fri. 3/27 "Supporting Portfolio Companies During COVID-19" https://t.co/H62oIiKhsQ
IRS moving Tax Day deadline from April 15 to July 15 https://t.co/xVjQdsLJyF
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