Coronavirus/COVID-19: SBA Loan & Tax Relief Updates

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COVID - 19 Small Business Advisor

Fusion CPA is committed to aiding our clients to navigate their economic uncertainties due to the Coronavirus pandemic. Our team of small business CPAs will continue to provide guidance and actionable advice on this page as everything evolves.

The Coronavirus/COVID-19 pandemic has caused an unprecedented economic ripple effect for business owners all over the United States. During this time of economic uncertainty, our COVID-19 financial advisors want to make sure that we provide everyone with REAL TALK and give some ACTIONABLE STRATEGIES to help you become more agile during this time.

Fusion CPA has extensive experience leading our client’s financial advisory for the last decade and throughout the last recession. Our team of CPAs is prepared to help you address and resolve your economic issues caused by COVID-19. In addition to the linked resources below, we have designed a two-phase SBA PPP loan process to help clients navigate the application and loan forgiveness process.

Fusion CPA_CARES Act_2 Phase Program For Entrepreneurs

Phase 1 - Calculate & Apply:

  • Guide you in gathering all of the required documents you need to apply for an SBA loan.
  • Calculate the amount that you will be eligible to borrow under the 7(a) PPP forgivable loan program by analyzing qualified included and excluded expenditures.
  • Assist you in connecting with your SBA lender.
  • Consult on comparing loan options

Phase 2 - Loan Forgiveness:

  • Analyze & optimize eligibility for loan forgiveness for expenditures during the 8 week period beginning on the date of the origination of the loan
  • Consult on reduction on the number of employee headcount & reduction of greater than 25% in wage rules
  • Calculate how much of the borrowed funds will be forgiven at the end of the 8-week period.

Our expertise covers all aspects of e-commerce / multi-location retail, entertainment, field service, franchise, health care, law, marketing, real estate, staffing, and technology accounting and bookkeeping. Whether you are a small business or an established company, we apply our experience and resources to help you identify opportunities to achieve your goals, provide operational efficiency through effective workflows and processes, and stabilize profits for your company.

To learn more about our Coronavirus/COVID-19 Support Resources, please contact us today at 404.955.7338. We have the resources to respond to your needs quickly; our team is here for you.

Let’s dive into helpful reasources

Key Points From The PPP Loan Forgiveness Application

May 21, 2020

The Small Business Administration (SBA) and the Department of the Treasury have released the Paycheck Protection Program (PPP) Loan Forgiveness Application. So our team of SBA PPP Loan Advisors has provided insight on the key takeaways from the forgiveness application.

Atlanta PPP loan forgiveness advisory
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Accounting Recommendations For PPP & EIDL Loans

April 10, 2020

The CARES-Act is designed to provide financial relief for small businesses, but there are specific regulations that you need to follow to be able to maximize the benefits of this aid.

Coronavirus Aid, Relief, and Economic Security - Small Business Interruption Loans

March 28, 2020

A detailed break down of the Coronavirus Aid, Relief, and Economic Security Act or the “CARES Act” Summary of SBA 7(a) Small Business Interruption Loans

Coronavirus Aid, Relief, and Economic Security  - Small Business Interruption Loans
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Overcoming A Recession: SBA Disaster Relief Funds For Small Businesses

March 19, 2020

The COVID-19 pandemic has thrown the entire global economy for a loop. In the U.S., small businesses have been hit especially hard. At the top of every owner's agenda should be finding out how you can become more agile during times of economic downturns.