Today’s blog https://www.sharrardmcgee.com/blog.phpe expands upon the information we have learned regarding the Paycheck Protection Program (PPP), part of the CARES Act. The PPP section of that Act pertains to loans that may be forgiven by the federal government. Please click on the link above to read the entire blog. We included a summary of the PPP that you can access here: 

https://files.constantcontact.com/ed1fa8d5301/2a385be1-0d88-4e4b-acf3-670d6cb97054.pdf

The U.S. Chamber of Commerce has also issued a PPP Guide that is very informative https://files.constantcontact.com/ed1fa8d5301/23d78f60-229a-400d-985e-ee7c3881472d.pdf

The SBA has industry-specific criteria that may result in eligibility for a PPP loan, even for companies with more than 500 employees. Eligibility is based on the current SBA size standards for certain NAICS codes.  The SBA Table of Size Standard is found here: https://covid19relief.sba.gov/#/

This situation has impacted every aspect of our lives. Please be assured that we are working diligently to interpret the information as soon as it becomes available so we can readily discuss how it impacts your particular circumstances and provide the necessary guidance for you to make sound decisions.

As always, we look forward to helping you. Call us in High Point at (336) 884-0410 or in Greensboro at (336) 272-9777.

Sharrard, McGee & Co., PA