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2014 09 12 Firm Agrees Not To Discharge Unconventional Drilling Waste Fom Marcellus Shale
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2014 09 08 Penneast Pipeline Successfully Closes Binding Open Season For Proposed Pipeline
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CARES : Paycheck Protection Program

The Paycheck Protection Program (PPP) is a $349 billion lending legislation of the CARES Act to help America’s small and midsized businesses (SMBs).

The PPP of the Coronavirus Aid, Relief, and Economic Security (CARES) Act is designed to extend government-backed loans not only to for-profit businesses that ordinarily qualify for SBA 7(a) loans. Unlike SBA loans though, the CARES Act PPP includes not only corporations that employ 500 or fewer workers; or business organizations that realize gross annual receipts below the threshold specified for certain industries.

As codified in Section 1102 of the CARES Act, the PPP qualifies the following for PPP eligibility ;

  • Nonprofit entities organized and classified under Section 501(c)(3) of the IRS Code
  • Veteran organizations that were given distinction from other nonprofit organizations as they fall under Section 501(c)(19) of the IRS Code.
  • Sole-proprietorships
  • Self-employed individuals including those earning income by way of independent long or short contracts, and freelancers being employed as labor force of the gig-economy.

Main Features of the Paycheck Protection Program

Generally, nearly all small businesses may apply for a PPP loan for as long as a company, proprietor, self-employed individual, independent contractor or freelancer, makes a good faith certification that justifies and ties the need for a loan to the economic uncertainties presented by the Covid-19 crisis.

In which case, a PPP borrower will be required to use the funds mainly for business purposes such as payment for utilities, lease/rent, mortgages plus interests, and in sustaining employee-payroll including claims for vacation, maternity or paternity leaves..

Through the CARES Act, the Small Business Administration assumes responsibility in giving authorization to lend funds under the PPP program, to qualified institutions like banks, insured credit unions and fin-tech companies. Such institutions will serve as additional lending agents to the group of lenders already and previously qualified by the SBA

Basically, the PPP-SBA 7(a) loans extended by lenders are guaranteed by the government by 100 hundred percent (100%) up to December 31, 2020. After said date, the government guarantee under the PPP scheme will revert to 75% for loan values of more than $150,000 and 85% for loans valued at $150,000 and less.

Main Restrictions of the Payroll Protection Program

Corporations that borrowed funds through the PPP are barred from declaring and issuing dividends to shareholders. The 1-year restriction will be counted from from the date the PPP loan has been fully settled.

Employers must retain an employment level of at least 90% from March 24 through September 30. 2020.

A PPP borrower must not have received an SBA Economic Injury Disaster Loan from the SBA, which cites financial hardships posed by the Covid-19 crisis as main reason/s.

Can a Bankrupt Business Apply for a PPP Loan?

The loans granted under the PPP of the CARES Act basically falls under the SBA 7(a) loan category. However, it is not clear if a business that has been driven to bankruptcy by the Covid-19 crisis before March 24, 2020, is still eligible to apply for a PPP loan.

The SBA’s lending rules qualify only those with a past bankruptcy that has been discharged at least a few years before applying for an SBA loan.

Nonetheless, corporations or business owners who have already been driven to insolvency by the Covid-19 crisis before the PPP became available, should seek legal help from a bankruptcy attorney. The Covid-19 crisis could have resulted in several bankruptcy cases even before the CARES Act was legislated.

Considering that seven counties in the San Francisco Bay Area had in fact ordered nonessential businesses to close and residents to shelter-in place as early as March 17, 2020. In such cases, a bankruptcy attorney san diego business owners would recommend, will be the likeliest resource person to get in touch with, when contemplating to borrow government-backed funds.

Overcoming the Challenge of Opening or Growing a New Business

Common people believe that it is the government that is constraining businesses. Contrary to popular belief, it is actually the government that is promoting its citizens to engage in business activities. This is as per the reports from New York Times. In some situations though, the government may even help entrepreneurs in launching their business from scratch and nurture it throughout by backing them up with financial advice and assistance.

Being able to get help from the government no matter what form it is, will require an entrepreneur to give inputs to the agencies or initiate a request.

What Type of Aid the Does Government Offer?

Basically, the government can intervene and provide assistance in a couple of ways and these are through administrative and financial help. It’s the federal government that is executing majority of the financial assistance by means of Small Business Administration or SBA.

SBA is inducing commercial banks in an effort to make loans by means of guaranteeing to pay a percentage of the defaulted loan. Every federal agency is supporting businesses via its own offices; often by means of partnering with them on set government regulations.

Established businesses usually have sufficient resources in keeping up with the changes in the legislation so the government has the tendency to concentrate on assisting smaller businesses. After all, these small businesses have limited options to get their funding from like applying from https://mycaraccidentcashadvance.com/, requesting additional funds from family and friends, crowdfunding etc.

Local and State Government

These are agencies that are offering advice and assistance to community businesses. Majority of the agencies have hotlines in helping companies to understand and to stick to the legal statutes either when running or starting a business.

As for the federal government, you can’t expect grants from them. However, it’s job is to distribute money to different states. Then, it’s the responsibility of the state government to hand out this money amongst foundations and charities that is funding small businesses.

Word from the Expert

According to Walt Minnick, Idaho Representative; he believes that the government can provide better assistance to businesses by means of improving their budget than sending money to smaller businesses that are ready to grow.

Savvy Tip

As for the business’ part, they can actually save more on tax preparation by going to the website of the IRS. While the IRS might not be able to replace seasoned accountants but at least, they can educate business owners on tax basics.

Business Loan Options For Self-Employed Individuals

Are you self-employed and you currently need financing? Borrowing money as a self-employed person can be very difficult. Your main concern is how to secure a loan quickly. Banks often do not provide financing if your company does not meet strict conditions, or demand an enormous amount of collateral in exchange for the loan.

You can borrow from private individuals but this route can be difficult and they often charge a high-interest rate. So how can you best approach borrowing money for a sole trader business?

Getting A Loan When You Are Self Employed

The current labor market

The labor market has changed considerably in recent years, a permanent contract for an indefinite period has almost become an exception. Employers do not easily give a permanent contract.

Partly as a result of this, the number of freelancers has grown explosively in recent years. Currently, there are more than 1.3 million self-employed people in the Netherlands and this number grows between 40,000 and 50,000 annually.

Banks are often very reluctant to lend money to freelancers due to the unpredictable income. In addition, not all self-employed entrepreneurs have a safety net if they become incapacitated for work or are temporarily out of work.

Borrowing money as a self-employed individual, what are the options?

If you want to borrow money as self-employed, it is important that you are at least 25 years old and that your business is registered with the Chamber of Commerce. There’s a multitude of options available for you. Let’s take a look at the three most common loans available for self-employed individuals.

Microfinance

A good alternative if the bank does not want to lend you money is to take microfinance as a sole trader. This means that you then take out a business loan of a maximum of 50,000 euros. Conditions apply for this. You must be at least 18 years old, living within the area where you are taking the loan, and you must be able to present a clear business plan.

Innovation credit for the self-employed

Do you have an interesting and innovative idea like energy-efficient devices? If your idea has a lot of potentials, but you do not have the necessary financial resources to implement your idea, an innovation credit can offer a solution. As a (starting) self-employed person you can apply for this credit type of credit starting with local banks near you or you may contact your local state government for more information on this type of funding. Investigate further as to which banks provide this type of financing.

There is a chance that the application will not be processed, but if you make a thorough preparation and have done good market research, it is more likely that your application will be approved. A good business plan is essential. After a thorough evaluation of your plans, the Central Government will decide whether or not you can get a loan.

Crowdfunding for the self-employed

Since the rise of social media, crowdfunding has become very popular as a form of financing for starting companies. More and more successful companies are succeeding in achieving exponential growth with the help of this peer-to-peer funding.

Crowdfunding can offer a solution if you as a self-employed person need a relatively large sum of money for your company within a short period of time and there are no banks or lenders who want to lend you money.

When there is a high demand for your product or service from the population, there are probably a large number of people who are interested in the development of your product or service.

These people will gladly offer financial support to your company. In this way, you ask the public to finance your project through various platforms.

Conclusion

Borrowing money as a start-up entrepreneur can be a serious challenge. To become a successful self-employed person you must have a healthy dose of knowledge, expertise, courage, perseverance and often financing to be able to start or grow.

Many business financiers only give credit to companies that have a certain amount of revenue per year. So often not feasible for the self-employed. Fortunately, there are several options that you can use. Investigate, contact the right people, and start your business today.

Financial Modeling Solar Energy Project

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How Badly Can The Corona Crisis Hit The Economy?

Nobody can predict that exactly yet. For example, the economic department of the industrialized nation’s association OECD expects a decline in the global economic growth of “only” 0.5 percent. That would require a short period of the epidemic.

Coronavirus: The economic impact

After that, deferred production and demand would pick up again and compensate for shortfalls. In a negative scenario, OECD chief economist Laurence Boone anticipates a 1.5 percent decline in global economic growth. In the worst case, the current crisis could also plunge the global economy into recession.

Marijuana Stocks That Are Best for Your Portfolio

Among other countries and states, Canada has already legalized the use of medical marijuana in 2001.

The legalization of medical marijuana in Canada only shows that the cannabis industry has developed excellently. Moreover, it means that the industries’ success is not hindered by restrictions of the state like the US. Having these restrictions, the medical use of marijuana is allowed in 33 states and in Washington DC. Further, the law known as the Cannabis Act or Bill C-45 was passed by the House of Common of Canada last November 2017 in order to allow the legalization of recreational use of pot.

This Act is generally contrasting to the US in which the potential legalization of cannabis is debatable. Yet, even if there are prevailing uncertainty, the investors could take there steps on the pot by investing in Canadian marijuana stocks as part of overcoming the challenge of opening or growing a new business. They are listed as major exchanges or as trade within the over-the-counter market. Majority of the stocks can be classified as penny stocks which carry a relevantly greater risk component.

Top Companies of the Canadian Marijuana Stocks

Here are the top 8 Canadian marijuana stocks for your portfolio:

1. Canopy Group Corporation
2. Aurora Cannabis
3. Aphria Inc.
4. The Cronos Group
5. The Hexo Corporation
6. CannTrust Holdings Inc.
7. Namaste Technologies Inc.
8. Organigram Holdings

However, we will just give you a sneak peak of their market capital and a brief description of each companies.

Canopy Group Corporation (CGC)

CGC’s market capital is $6.969 billion. It is considered as the first unicorn of Canada’s pot market. The company’s stock is down at around 33%.

Aurora Cannabis (ACB)

The market capital of this company revolves around $5.071 billion. ACD entered the Canadian marijuana stocks in 2016 and the New York Stock Exchange in 2018. Its stock is down at 30.7%.

Aphria Inc.

$1.807 billion is the market capital of Aphria Inc. They self-declared that they are one of the lowest cost producers of cannabis within the industry. Their stocks drop around 16.8%.

The Cronos Group (CRON)

CRON’s market capital is $2.844 billion and drop its stocks around 29.4%.

The Hexo Corporation (HEXO)

The market capital of the company is $656.233 million and has stocks drop of about greater than 34%.

CannTrust Holdings Inc.

It has a capital of $195.117 million and drop its stocks by 86%.

Namaste Technologies Inc.

Namaste’s market capital is $97.082 million with a decline of 57.9% on its stocks.

Organigram Holdings (OGI)

The market capital of OGI is $549.118 million and the decline share price is around 54.8%.

The Future Of Energy

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Financing Energy Efficient Buildings

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Energy Efficiency And Energy Savings

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Workship For Energy Efficiency Understanding Finance Models

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