Chris Cruger

In these totally uncharted waters we are all facing, it is imperative that we all plan for our future. It essentially boils down to three simple rules – Accept the things we cannot change Change the things we can Create a plan that maximizes your opportunity for success Accept the things we cannot change As we are all adjusting to the “new normal”, it is absolutely beyond our control what restrictions the federal, state or local governments are going to impose around our ability to serve families. Social distancing and other restrictions being imposed are having everything from minimal to extreme impact on our business. Recently the Governor of New Jersey imposed a mandate that all deceased be handled as a direct burial or direct cremation. Now, we don’t have to totally accept that lying down but it does have […]

$370 billion to replenish SBA’s Paycheck Protection Program and the Economic Injury Disaster Loan Program Congress moved quickly to pass legislation that appropriates an additional $484 million to continue to finance the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan Program (EIDL), along with several other initiatives aimed to mitigate the economic hardships caused by Covid-19. Following the Senate’s approval Tuesday, the House passed the bill last night and President Trump is expected to sign it into law today. The new legislation provides an additional $310 billion in new funding for the PPP and $60 billion for the EIDL.  It also allocates $75 billion for hospitals and health care providers, and $25 billion for the development and expansion of coronavirus testing, The $310 billion for the PPP includes $30 billion reserved for community-based lenders, small […]

On Friday, March 26th the Paycheck Protection Program (“PPP”), one of the key stimulus provisions of  the COVID-19 economic recovery initiative was signed into law.  The SBA has further clarified details of the program. PPP is still a key program that we believe will work well for your funeral homes and cemeteries. We recommend you contact your current banking relationship immediately. Links have been provided at the bottom of this document for the SBA Paycheck Protection Program Application Form as well as the Paycheck Protection Program Information Sheet: Borrowers. Application Timeline Starting Friday, April 3rd – small businesses and sole proprietorships can apply Starting Friday April 10th – independent contractors and self-employed individuals can apply The loan application process will remain open until June 3oth, but it will be on a first-come-first-served basis Where Should I Apply You can apply […]

In the interest of sharing information from the pending Third Stimulus Bill – Coronavirus Aid, Relief , and Economic Security (“CARES” Act), we wanted to share some of the relevant developments that will affect the Funeral and Cemetery industry. Part of this plan includes the Keeping Workers Paid and Employment Act; this act will likely relevant to us all in the Funeral and Cemetery Industry. The plan would provide cash-flow assistance through 100 percent federally guaranteed loans to employers who maintain their payroll during this emergency. If employers maintain their payroll, the loans would be forgiven, which would help workers to remain employed and affected small businesses and our economy to quickly snap-back after the crisis. This proposal would be retroactive to March 1, 2020, to help bring workers who may have already been laid off back onto payrolls. Small […]

While we don’t know the particulars of the stimulus package being voted on today, here is a brief summary of the information the Minority Leader Chuck Schumer sent to colleagues early Wednesday. Here’s what’s in the $2 trillion package: •      Direct payments of $1,200 to most individuals making up to $75,000, or $2,400 for couples making up to $150,000. The amount decreases for individuals with incomes above $75,000, and payments cut off for those above $99,000. •      Expanded unemployment benefits that boost the maximum benefit by $600 per week and provides laid-off workers their full pay for four months •      $367 billion in loans for small businesses •      $150 billion for state and local governments •      $130 billion for hospitals •      $500 billion in loans for larger industries, including airlines •      Creation of an oversight board and inspector general to […]