PrimeGlobal continues to monitor and assess new developments pertaining to the Novel Coronavirus. Keeping our members up to date on the latest information and approach to help reduce risk is a priority. You can find more information on PrimeGlobal's dedicated page HERE>
PrimeGlobal member firm Grossman St. Amore discuss funding sources available to small businesses.
The Department of Treasury has released the Paycheck Protection Program application and supplemental information, all available on their website.
We strongly recommend that companies immediately:
Contact your local banker to discuss the lender guide to ensure they are aware of program requirements. While it is our understanding that virtually all banks and credit unions will be able to process program applications, you should verify that your bank intends to support the program.
As a reminder, funds from this program:
Can be used for employee salaries under $100,000, paid sick or medical leave, insurance premiums, and mortgage, rent and utility payments;
Are 100% forgivable if used for the above purposes; and
Are available to businesses or 501(c)(3) nonprofits with less than 500 employees, including sole-proprietors, independent contractors, and other self-employed individuals.
Grossman St. Amour CPAs
Located in Syracuse, New York, Grossman St. Amour CPAs has been providing businesses and individuals with services in the areas of accounting, audit, taxation, business planning and valuation, financial planning, investment management, and fraud prevention and detection since 1957. Our mission is to understand the business of our clients, identify their business and financial needs, and to provide the services that will help them achieve their business and personal financial goals. This begins with a high level of involvement on the project or engagement by the partners. We believe it is essential to develop close relationships between the owners of the company and our partners to provide proactive solutions throughout the year. This has not only resulted in enhanced services to our clients, but has also provided our firm more opportunities to grow.Learn more