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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:

Review all four documents listed under the “Assistance for Small Businesses” section;
Review the application  and accompanying borrower guide

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.

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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.

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