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1. The Payment Protection Plan
Are you wondering if your nonprofit qualifies for a Small Business Association (SBA) loan? You’ll find information about eligibility, maximum amount available, interest rates, term lengths, and, importantly, the time it will take to process your request. There is a FAQ section concerning loan forgiveness and how payments will affect your taxable income.
2. The Payment Protection Program calculators
Calculating maximum loan amounts can be tricky. You’ll be considering
- salary, wage, commission, or similar compensation
- payment of cash tip or equivalent
- payment for vacation, parental, family, medical, or sick leave
- allowance for dismissal or separation
- payment required for the provisions of group health care benefits, including insurance premiums
- payment of any retirement benefit
- payment of state or local tax assessed on the compensation of the employee
You’ll need to know who is eligible and, equally important, who is not eligible for compensation and how much. Jitasa has removed much of the guesswork by providing
3. SBA Economic Injury Disaster Loan program
The Technicalities of the SBA Economic Injury Disaster Loan program might leave you a bit overwhelmed. Fortunately, the folks at Jitasa have broken it down for you on this
4. Families First Corona Virus Response Act
The Families First Coronavirus Response Act (FFCRA) was signed into law on March 18, 2020, and took effect on April 2, 2020. It provides for paid sick and family leave during the COVID-19 pandemic. Tax credits are being offered by the IRS to offset these additional costs to nonprofit organizations.
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