May 28, 2020
Published by 
Nina Renee on May 28, 2020
Nina Renee on May 28, 2020“Coronavirus Pandemic Forces the Funeral Industry Online” was the top story in CNBC Business News on May 27th, referring to key findings in Foresight’s revolutionary study designed to understand consumer attitudes, perceptions and behaviors about the funeral and cemetery industry prior to, during and after the Covid-19 pandemic. Jane Wells, a prominent reporter for CNBC news, recently interviewed Chris Cruger, Chief Operating Officer of the Foresight Companies, to discuss key findings of The Foresight Companies 2020 Funeral and Cemetery Consumer Behavior Study. CNBC highlighted the fact that the $20 billion funeral and cemetery industry is being forced to meet the challenging desires of the customer. Wells noted that online price transparency and live-streaming of funeral services may be the norm going forward, even as the country begins to open up. She also emphasized that people are increasingly preplanning their funeral […]
May 20, 2020
Published by Nina Renee on May 20, 2020
Nina Renee on May 20, 2020The Small Business Administration has released the Paycheck Protection Program (PPP) Loan Forgiveness Application. As you know, small business owners may apply to have up to 100% of their loan forgiven. The application sheds some light and provides guidance on the detailed calculations to determine forgiveness amounts. It also tells you what must be submitted with the application. As a bonus feature, it provides step-by-step directions for completing the forms. Forgiveness Eligibility To have your loan forgiven, at least 75% of the forgiveness amount must be for payroll costs paid and in place during the eight-week Covered Period. This must be the same as the PPP Loan Disbursement Date. There are also non-payroll costs that are eligible to be forgiven. A quarter of the loan may be used for mortgage, rent, utility and interest on debt obligations paid or in place […]
April 21, 2020
Published by Nina Renee on April 21, 2020
Nina Renee on April 21, 2020Despite having been told that all of the funds from the Economic Injury Disaster Loan (EIDL) funding has been depleted, one our clients was thrilled to find $7,000 had been deposited into his bank account this morning. The funds were received as part of the option to receive up to $10,000 when applying for the EIDL. The EIDL application was submitted on March 30th and no other communication had been received prior to today. – The message – If you’ve previously submitted for the EIDL, there’s still hope! We have heard that there is more stimulus money coming and we are optimistic that additional funding will be made available soon. Although the SBA is not currently accepting EIDL applications, all indications suggest that the program will open up again once additional stimulus funds are approved by congress. There is hope […]
April 16, 2020
Published by Nina Renee on April 16, 2020
Nina Renee on April 16, 2020The Small Business Administration’s Paycheck Protection Program and the Economic Injury Disaster Loan Program have officially run out of money. By law, the SBA may not issue new loan approvals once the programs experience a lapse in appropriations. Currently, the SBA is unable to accept any new applications for the Paycheck Protection Program or the Economic Injury Disaster Loans (EIDL)-COVID-19 related assistance based on available appropriations funding. They also cannot enroll new PPP lenders at this time. Applicants who have already submitted their applications for the EIDL will continue to be processed on a first-come, first-served basis. Though the rollout of the PPP had some glitches, banks worked to meet the needs of their customers with an unparalleled pace of loan approvals. A little more than a week after applications were first available, more than 1.03 million loans were approved […]
April 15, 2020
Published by Nina Renee on April 15, 2020
Nina Renee on April 15, 2020The Department of Labor (DOL) has issued rules that exempt employers with fewer than 50 employees (“small business”) from its requirements if compliance would jeopardize “the viability of the employer’s business as a going concern.” The ruling states that an “authorized officer of the business” must determine whether the business meets the criteria for an exemption and must document the facts and circumstances that allow for the exemption. A business may be exempt from providing mandated paid sick leave or expanded family and medical leave requirements if they meet three conditions: The provision of paid sick leave or expanded family and medical leave would result in the small business’s expenses and financial obligations exceeding available business revenues and cause the small business to cease operating at a minimal capacity; The absence of the employee or employees requesting paid sick leave […]