Small Business Resources

The federal government has responded to the coronavirus pandemic by offering resources and assistance for small business to help them respond to impacts. Financial assistance has been provided through existing resources as well as new authorized programs specifically created for the pandemic. The Congressional Research Service (CRS) published a report detailing the financial relief and assistance the federal government has provided for small businesses: Small Businesses and COVID-19: Relief and Assistance Resources.

Paycheck Protection Program (PPP Loans)

The CARES Act provides loans via Small Business Administration (SBA) in conjunction with local lenders. If you are considering a Paycheck Protection Program Loan, you should immediately contact your principal lender to begin the application process. The Small Business Administration provides additional resources and information on this program here.

Loans will be available on a first-come basis and demand is expected to be high.
PPP Loans do not require collateral or personal guarantees, and interest rates cannot exceed 4.0%.
All or a portion of this loan may be forgiven – effectively making the loan a grant. The loan forgiveness amount will be equal to the amount spent by the borrower during the eight-week period following loan origination on rent, payroll costs (subject to certain conditions and definitions), interest on a mortgage, and utility payments.
Loan proceeds may be used for eligible expenses during the period from February 15, 2020 through June 30, 2020.
Any company that employs no more than 500 employees, was operational on February 15, 2020, and had employees for whom it paid salaries and payroll taxes, or a paid independent contractor, may be eligible for the PPP Loan program. Eligibility is determined by your lender.
NEW! Here is the Small Business Administration's Announcement - SBA Reopens PPP
NEW! Here is the Small Business Administration's Announcement - New Round of PPP Available January 11, 2021
Here is a Department of Treasury backgrounder on PPP.
Here is the final borrower form.
Here is the PPP website.
Here is the Department of Treasury’s Interim Final Rule on the PPP Program

Delayed Payment of Social Security Tax

Delayed payment of employer share of social security tax. The Cares Act allows employers to defer payment of the employer share of the social security tax it would otherwise be responsible for paying in 2020, effective for payments due after March 27, 2020. Making use of the deferral may help you to conserve cash flow in the near term. If PPP loan forgiveness occurs, the ability to defer ceases.

Fifty percent of the deferred payroll taxes are due on December 31, 2021, and the remaining amounts are due on December 31, 2022.

Employee Retention Payroll Tax Credit

Eligible employers may receive a refundable credit against payroll tax liability equal to 50% of the first $10,000 in wages per employee (including the value of health plan benefits) which results in an estimated possible $5,000 per employee employment tax credit.

Available for businesses whose operations were fully or partially suspended due to coronavirus.
The credit is capped at the first $10,000 of compensation, including health benefits.
The provision is effective for wages paid or incurred from March 13, 2020 through December 31, 2020.
This credit would be unavailable if you obtain a Paycheck Protection Program loan.
Here is a link to an IRS webpage with more information on the tax credit.

FMLA Tax Credits

The Families First Coronavirus Response Act (FFCRA) provides certain tax credits to offset private employers’ cost of paying emergency sick leave wages, which are capped at either $511 or $200 per day, depending upon why emergency sick leave is available, for eight days.

Here is a link to the US Department of Labor (Wage & Hour Division) webpage with much more information and resources on FFCRA.
Here is a link to the IRS Q&A factsheet on FFCRA.

TFG Coronavirus Updates

US Congressional Calendar

TFG Brings on New Senior Associate, Courtney Miller

Alex Yiannoutsos / Wednesday, October 25, 2023

/ Categories: News, News & Alerts

TFG Brings on New Senior Associate, Courtney Miller

Courtney enhances TFG client services with extensive local, state, and federal government experience.

WASHINGTON, D.C. – We’re pleased to welcome Courtney Miller as a Senior Associate at TFG. Courtney enhances TFG’s legislative and advocacy services with experience from the private and public sectors, and at the local, state, and federal levels.

“We are delighted to have Courtney join our team,” said Roger Gwinn, TFG’s CEO. “Her impressive record of success working alongside distinguished leaders in Congress makes her a great addition to TFG, and we look forward to the expertise and insights she will bring to our clients."

"I’m excited to join TFG and look forward to making a meaningful impact and contributing to the innovative work at the firm," said Courtney.

Prior to joining TFG, Courtney served as Policy Advisor, which included Member Services, for Chairpersons Carolyn B. Maloney and Elijah E. Cummings on the House Committee on Oversight and Reform. Courtney also served as the Legislative Director for Representative Shontel M. Brown of Ohio's 11th District where she advised Representative Brown on appropriations priorities, community project funding requests, debt ceiling negotiations, daily vote recommendations, and overall legislative matters.

Courtney earned a master’s degree from Cornell University's Institute for Public Affairs and a bachelor’s degree from Emory University.

2222

Tags: roger gwinn Legislative Advocacy Advocacy Courtney Miller Client Services

Documents to download

Press Release - Courtney Miller New Employee - 10.25.23(.pdf, 147.55 KB) - 359 download(s)

Latest TFG News

9 December 2024

TFG Presents 2025 Congressional Calendar

The Ferguson Group (TFG) compiled a 2025 Congressional Calendar with session and recess dates for the U.S. House of Representatives and U.S. Senate 119th congressional session.

Meet a Team Member

Kristi More

Managing Partner of Grants

Latest Coronavirus Updates