Paycheck Protection Program
The Treasury Department released a press release today indicating the Paycheck Protection Program will be operational by Friday: home.treasury.gov/news/press-releases/sm961. From the press release: “This legislation provides small business job retention loans to provide eight weeks of payroll and certain overhead to keep workers employed,” said Secretary Mnuchin. “Treasury and the Small Business Administration expect to have this program up and running by April 3rd so that businesses can go to a participating SBA 7(a) lender, bank, or credit union, apply for a loan, and be approved on the same day. The loans will be forgiven as long as the funds are used to keep employees on the payroll and for certain other expenses.”
Webinar – loan provisions
The AVMA has just uploaded a new webinar to AVMA Axon on the small business loan programs established by the CARES Act, which includes the Paycheck Protection Program. The webinar features Terry O’Neil, an accountant and a partner at Katz, Sapper & Miller’s Veterinary Services Group, who addresses the small business loan provisions in the CARES Act. The webinar will help veterinarians understand how to evaluate the loan programs and think through what is best for their circumstances. The webinar is free and can be accessed here.
Webinar – insurance & leave provisions
On Wednesday, April 1st, the AVMA Trusts – AVMA LIFE and AVMA PLIT—are hosting a live webinar featuring COVID-19 Insurance Claims and the CARES Act Leave Provisions. The presenters include experts in insurance claims, human resources and employment law. They will look in-depth at the new FMLA and sick leave requirements. The live version was promoted to current AVMA LIFE and PLIT insureds. The webinar will also be recorded and made available on-demand. We will provide the link when it is available tomorrow.
