COVID-19

     

     

    Human Resources & Payroll

    Coronavirus: Employer Q&A

    7/27/2020

    We have been receiving a number of questions from clients on how to handle coronavirus from an HR perspective.  Because it is likely that most of our clients may have similar questions, we are collecting these into the following Q&A format guide.  Read more...


     

    Legal & Regulatory Updates

    New Rules: Executive Order for Bexar County

    6/19/2020

    On June 17, 2020, County Judge Nelson Wolff issued Executive Order NW-10, which includes several mandates for both individuals and businesses in Bexar County.  Read more...


     

    Legal & Regulatory Updates

    PPP Update: SBA Releases New Loan Forgiveness Application

    6/19/2020

    As a result of the Paycheck Protection Program (PPP) Flexibility Act of 2020, on June 17, the US Small Business Administration (SBA) released a revised Loan Forgiveness Application and simplified “EZ Application” for use by certain borrowers.  Read more...


     

    Legal & Regulatory Updates

    Main Street Lending Program: A New Source of Capital for Small Business

    6/19/2020

    The Main Street Lending Program (MSLP) was created by the Federal Reserve to “support lending to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 pandemic.”  Loans range from $250,000 to $300 million depending on the facility being used.  The lender portal for the MSLP opened on Monday, and while some banks that applied are still awaiting approval, many are preparing to provide these loans to clients.  Read more...


     

    Legal & Regulatory Updates

    PPP Flex Act: New Information

    6/12/2020

    Last Wednesday, June 3, the Senate passed by unanimous consent the Paycheck Protection Program Flexibility Act, which had previously passed the House on a 417-1 vote.  The Act became Law officially on Friday, June 5.  The legislation modifies the original requirements with hopes of making loan forgiveness more flexible and, therefore, more attainable. And, so far, it appears that may be the case.  Read more...


     

    BFG in the News

    We're Open!

    6/12/2020

    Business Financial Group has remained operational during the city-wide shutdown due to the COVID-19 pandemic. Our full staff has been working from home, and we brought everyone back to the office on June 8th after 2 ½ months of working from home.  We want to let you know about the steps we are taking to protect against the transmission of COVID-19.  Read more...


     

    Legal & Regulatory Updates

    PPP Fixes Passed: Paycheck Protection Program Flexibility Act

    6/4/2020

    On Wednesday, June 3, the Senate passed by unanimous consent on a voice vote the Paycheck Protection Program Flexibility Act, which had previously passed the House on a 417-1 vote. The Act was in response to complaints about some stipulations of the Paycheck Protection Program’s loan forgiveness.  The legislation modifies the original requirements with hopes of making loan forgiveness more flexible and, therefore, more attainable.  Read more...


     

    Financial Planning

    Early Signs Suggest Reopening Going Better than Expected

    5/26/2020

    In the past week, we had some mixed news on the coronavirus pandemic. Testing continued to rise, although improvement in slowing the spread rate and case growth seemed to stall. Further, the number of active cases started to grow again, a negative sign. Overall, conditions still remain much better than they have been in recent weeks, but we did not see much (if any) additional progress in controlling the virus.  Read more...


     

    Best Practices, Legal & Regulatory Updates

    SBA PPP Loan Application

    5/17/2020

    On Friday, May 15, the Small Business Administration (SBA), in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application.  Read more...


     

    Best Practices, Legal & Regulatory Updates

    How to Plan for PPP Loan Forgiveness

    4/24/2020

    On Friday, 4/24/2020, Kim Moore participated in an online Zoom call hosted by Shannon Badger with Badger CPA to discuss Paycheck Protection Program (PPP) loan forgiveness and documentation requirements.  They covered allowable expenditures, strategies for allocating funds, and best practices for documentation.  Please see the corresponding Q&A document that includes information covered during the discussion.  Read more...


     

    Best Practices, Legal & Regulatory Updates

    PPP SBA Loan Forgiveness Request

    4/20/2020

    In an Interim Final Rule issued April 14, the SBA provided its process for submitting a request for forgiveness. The rule indicates that the request could be submitted as early as the end of the week seven of the 8-week covered period.  Read more...


     

    Best Practices, Human Resources & Payroll

    Reactivating Employees for Compensation

    4/20/2020

    If you have been approved or have received funding from the a PPP SBA Loan and would like to "reactivate" employees in order to begin paying them during the 8-week covered period, we have provided links to Employee Notices you may want to use.  Read more...


     

    Best Practices, Legal & Regulatory Updates

    CARES Act: Additional Provisions that Might Affect You

    4/20/2020

    The CARES ACT was a $2+ Trillion unprecedented Act of Congress designed to provide relief to Americans who have been negatively affected by COVID-19 and subsequent "Stay at Home" orders. Up until now, most of our attention has been devoted to the SBA Payroll Protection Program loans because it had such a short window of time to respond.  However, the law includes some other elements that could be beneficial for you.  Read more...


     

    Best Practices, Financial Planning

    The CARES Act: Impact on Individuals

    4/20/2020

    There are provisions affecting individuals that range from the stimulus checks which are finding their way to bank accounts or mailboxes, penalty-free retirement plan distributions, increased retirement plan loans, enhanced charitable contributions, and education loan relief.  Read more...


     

    Best Practices, Legal & Regulatory Updates

    The CARES Act: Expanded Unemployment

    4/20/2020

    The CARES ACT, through a provision called Pandemic Unemployment Assistance (PUA), has expanded both the amount that can be collected and who is covered under PUA.  Read more...


     

    Best Practices, Financial Planning

    Are We Seeing Signs of Progress in the Coronavirus Crisis? A Video from Commonwealth Financial Network®

    4/20/2020

    We would like to offer you the opportunity to hear thoughts from Brad McMillan, managing principal and chief investment officer at Commonwealth Financial Network®, our Registered Investment Adviser–broker/dealer.  In this video, Mr. McMillan provides an update on the coronavirus crisis, including its effects on the economy and markets.  Read more...


     

    Best Practices, Legal & Regulatory Updates

    SBA PPP: Managing the 8-Week Process

    4/15/2020

    We've prepared some guidelines to help if you have applied for an SBA Payroll Protection Program (PPP) loan. What's next? Our article explains how you might prepare for loan funding and expense documentation.  While new information and guidance from the SBA is expected, we're providing this feedback in our best effort to keep you abreast of what to expect next as this situation evolves.  Read more...


     

    Legal & Regulatory Updates, Human Resources & Payroll

    Paycheck Protection Program

    3/30/2020

    On Friday, March 27, the Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law, providing an unprecedented level of emergency assistance for families and businesses affected by COVID 19.  Read more...


     

    Human Resources & Payroll

    COVID-19 and Other Viruses: Steps BFG is Taking to Ensure Safety

    3/17/2020

    We have sent several updates on COVID-19 and actions that our clients and contacts should consider taking in the midst of this pandemic, and we will continue to do so.  Now we’d like to describe policies that we’ve had in place at BFG for many years along with some enhancements in an effort give you some reassurance of how we are seeking to protect our staff and clients while we continue to provide support to our clients and their employees.  Read more...


     

    Human Resources & Payroll

    Coronavirus: Steps to Ensure Safety in the Workplace

    3/9/2020

    News of the coronavirus is everywhere, and the fear that is the product of this news seems more widespread than the virus itself.  That said, there is much truth in the adage, “an ounce of prevention is worth a pound of cure.”  Employers have the responsibility to provide a safe workplace.  What actions should companies take to ensure workplace safety?  Read more...


     

    Financial Planning

    What does the Coronavirus Mean for Investors?

    3/9/2020

    Despite attempts by Chinese authorities to contain the coronavirus, the numbers make clear that the virus is now spreading around the world. According to the World Health Organization, there are 79,331 confirmed cases, of which 77,262 are in China and 2,069 are outside of China (as of February 24, 2020). Unfortunately, the numbers only seem to be growing, with the Washington Post recently reporting that there were 833 confirmed cases in South Korea and 53 confirmed cases in the U.S.  Read more...


     

     

     

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