A bill to expand the Paycheck Protection Program (PPP) has passed the U.S. Senate and is expected to pass the House on Thursday, April 23rd. President Trump has already signaled he will sign the bill, which adds $310 billion funds for the depleted Paycheck Protection Program.
There is no need to wait for this funding to get signed into law. You can put in an application now to get in line for these benefits. If your business is suffering, this is a good opportunity to continue paying your employees and retain staff for when we all come out of this.
Need to refresh yourself on the “Paycheck Protection Program” information? Click here for the details.
Anecdotally, we’ve heard some of the big banks are slow in processing these loans; you may wish to consider exploring your lending options with smaller banks and credit unions. This information is fluid, but you can check out the official list of lenders.
PAYROLL REPORTS ARE REQUIRED FOR LOAN APPLICATION
Cardinal is ready to help—send your request to us now! If Cardinal processes your payroll, we will supply you with all the documentation you need to satisfy your lender’s requirements.
Send an email request for Paycheck Protection Program support data to PPP@cardinal-services.com. After you have completed the form, email the application to your financial institution.
NEED MORE EMPLOYEES?
If you have accessed the PPP, or plan to—Cardinal can help keep you compliant with your employee headcount requirement to obtain loan forgiveness:
- Call 1.800.342.4742 if you need to rehire or add a new employee
- Qualified workers available for Part or Full Time / Temporary, Seasonal or Permanent for all shifts
- Pre-screened employees provided with comprehensive benefits like paid leave, workers’ comp and 401(k)
- We do all the paperwork including remote onboarding of all hires