Joint Statement by SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin on the Resumption of the Paycheck Protection Program
SBA Administrator Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin issued the following statement today on the resumption of the Payroll Protection Program (PPP):
“…The Small Business Administration will resume accepting PPP loan applications on Monday, April 27 at 10:30AM EDT from approved lenders on behalf of any eligible borrower. This will ensure that SBA has properly coded the system to account for changes made by the legislation.
“The PPP has supported more than 1.66 million small businesses and protected over 30 million jobs for hardworking Americans. With the additional funds appropriated by Congress, tens of millions of additional workers will benefit from this critical relief.
“We encourage all approved lenders to process loan applications previously submitted by eligible borrowers and disburse funds expeditiously. All eligible borrowers who need these funds should work with an approved lender to apply. Borrowers should carefully review PPP regulations and guidance and the certifications required to obtain a loan.
“The Trump Administration is fully committed to ensuring that America’s workers and small businesses continue to get the resources they need to get through this challenging time.”
Update to Paycheck Protection Program FAQs Provides Limited Guidance on Required Applicant Certifications
On April 23, 2020, U.S. Department of the Treasury added an additional question and answer to its Paycheck Protection Program Frequently Asked Questions that addresses the requirement that all applicants must certify that “current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.
The most significant aspect of the answer is the provision allowing any applicants that have since changed their mind about the necessity of the PPP loan or grown concerned about validity of their certifications to avoid any potential liability by repaying the loan in full by May 7, 2020.
Commerce: Durable-Goods Orders Sink in March
US orders for factory goods had their second-largest decline ever last month, falling 14.4%, the Commerce Department said today. The decline was 0.2% if airplanes and vehicles are omitted.
How to Safely & Securely Work from Home – Webinar Hosted by MTEC
April 30, 2:00pm EST (via BlueJeans)
The topics covered by MTEC cybersecurity experts will address frequently asked work from home questions that will better you and colleague’s cyber hygiene now, and in any future remote work situations. Topics and questions addressed include:
- Common COVID-19 related phishing scams and threats. How do you spot them? What do you do when you do?
- Trusted VPN software and best practices when using them. How do they work? Is it really safe?
- Securing your home network. Is it easy? What are some simple steps to take?
- Secure document portals. Should I use cloud software? Is it safer to email?
- Maintaining security of servers remotely. How important is it? What do I do if something happens
- Grant opportunities to assist your company pursue greater cyber hygiene.
Human Resource Professionals Plan for an Abundant Talent Market Post-COVID
David Scott, executive vice president and chief human resources officer at DISH Network, a telecommunications company based in Englewood, Colo., said that his company has spent the last few weeks in reactionary mode dealing with the unprecedented COVID-19 pandemic and that it has only recently started to think about what comes next.
Planning for a return to normal will bring a new set of challenges. The biggest change from a talent acquisition point of view could be the glut of job-seeking talent on the market.
“The circumstances brought on by COVID-19 will allow companies to be more selective in who they go after,” Scott said. “I can’t wait to grow based on the quality talent that will be available.”
Deeper Dive: Bill Gates in the Economist on How to Fight Future Pandemics
When historians write the book on the covid-19 pandemic, what we’ve lived through so far will probably take up only the first third or so. The bulk of the story will be what happens next.