Has your business been affected by the COVID-19 pandemic?
Below are resources we have pulled together to guide you and your business on state-specific programs as well as the CARES Act Paycheck Protection Program
CARES Act Paycheck Protection Program FAQ
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) was signed into law. Included in the CARES Act is the Paycheck Protection Program. The goal of this Act is to provide support for small and medium-sized businesses as a result of the impact of COVID-19. In this FAQ resource, we will break down some of the components of the Act based on the analysis done by the Mulligan Funding team.
How to calculate “Payroll Costs” for your Paycheck Protection Program loan
This resource will work to explain how to calculate your “payroll costs” for the Paycheck Protection Program which is what determines your maximum loan amount.
How to obtain your “Payroll Costs” from your payroll processing company
Several payroll processing companies have developed new reports specific to the Payment Protection Loan Program. These companies have done all the hard work of calculating the “average monthly payroll” for you, including removing any amounts over $100,000 per employee. This resource will help guide you on how to obtain your payroll costs.
State and Local Relief Programs for Businesses Affected by COVID-19
In this resource, you will find a number of programs currently available for businesses affected by COVID-19. We encourage you to review those relevant to you and your business for requirements, details, and application deadlines and to apply as soon as possible.
For Questions or to Apply with Mulligan Funding
If you have any questions not answered by these resources, or to apply for the Paycheck Protection Program, please contact Mulligan Funding at email@example.com.