The Blount Partnership is committed to leading the Blount County business community through this crisis. Be sure to check out the continually updating Managing Your Business during COVID-19 webpage. If you missed an update, refer to the listing page .   

As more businesses and the state opens up you find more issues. If there's anything you need or feel the Blount Partnership can assist you with, please reach out .

Finally, check out the webinar page which has links to three events this week.
PPP FORGIVNESS APPLICATION
The Small Business Administration (SBA), in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application.

The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). SBA will also soon issue regulations and guidance to further assist borrowers as they complete their applications, and to provide lenders with guidance on their responsibilities.

The form and instructions include several measures to reduce compliance burdens and simplify the process for borrowers, including:
  • Options for borrowers to calculate payroll costs using an “alternative payroll covered period” that aligns with borrowers’ regular payroll cycles
  • Flexibility to include eligible payroll and non-payroll expenses paid or incurred during the eight-week period after receiving their PPP loan
  • Step-by-step instructions on how to perform the calculations required by the CARES Act to confirm eligibility for loan forgiveness
  • Borrower-friendly implementation of statutory exemptions from loan forgiveness reduction based on rehiring by June 30
  • Addition of a new exemption from the loan forgiveness reduction for borrowers who have made a good-faith, written offer to rehire workers that was declined

The PPP was created by the CARES Act to provide forgivable loans to eligible small businesses to keep American workers on the payroll during the COVID-19 pandemic. The documents released today will help small businesses seek forgiveness at the conclusion of the eight week covered period, which begins with the disbursement of their loans.

Click here  to view the application and instructions.
COVID-19 BUSINESS SURVEY
As the state and businesses begin to re-open, the Blount Partnership would like to gauge how your operations are going. Your participation is very important as the data is used to assist with future programming in areas that you need assistance. A special thank you in advance for taking your time to complete this survey.

As encouragement to complete the survey, we will randomly draw to give away one gift card to Calhoun's next week.