COVID-19

COVID-19 Resources for Businesses and Employers | Dalby Wendland & Co. | CPAS & Business Advisors | Grand Junction CO | Glenwood Springs CO | Montrose CO Our professionals are proactively advising clients to help navigate COVID-19 directives and opportunities. In addition, DWC wishes to help our clients and communities find valid information during the pandemic. We’ve gathered important COVID-19 business and employer resources to help you stay abreast of issues and directly access the most reliable sources. We will keep this page updated as changes occur. You can also stay up-to-date via our BLOG.

DISASTER LOAN ASSISTANCE

Small Business Administration (SBA) Funding for Small and Medium-Sized Businesses. There are two programs available to help businesses with disaster relief – the revised Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP). Both programs can be used, however they are not intended for the same purpose. Additional conditions and amendments may apply.

We are ready and available to help our clients provide accurate information for efficient processing of your PPP loan and loan forgiveness applications through your bank. Contact your DWC representative if you received a PPP loan.

The PPP program ended May 31, 2021. The below links are for information only.

PPP “2” PROGRAM (Consolidated Appropriations Act 2021)

The Consolidated Appropriations Act of 2021 includes additional PPP loan funding. Eligible borrowers should talk with their bank to ensure it is participating in the program and regarding application process. Additionally, we encourage borrowers to consult with their accountant for proper calculations and proceeds usage per PPP application and forgiveness criteria. The below links are to assist with general information only.

PPP LOAN FORGIVENESS INFORMATION

There are three PPP Loan Forgiveness Application forms: SBA Form 3508, SBA Form 3508EZ, and SBA Form 3508S. Borrowers should check with their lender to ensure they have the most recent PPP loan forgiveness application and instructions. The 3508EZ and the 3508S are shortened versions of the application for borrowers who meet specific requirements. Your Lender can provide further guidance on how to submit the application.

ORIGINAL PPP LOAN INFORMATION

The original PPP loan program closed August 8, 2020. The below links are for PPP/PPPFA loan rules and loan forgiveness information only.

ADDITIONAL PPP RESOURCES

SBA EIDL LOAN PROGRAM AND OTHER ASSISTANCE

This loan is only accessible through the SBA. The prior EIDL Advances are no longer available. Access the EIDL application and information HERE.

SBA is also providing assistance for those who already have an SBA loan and business relationship with an SBA Express Lender. You should contact your SBA lender for more information on these programs.

  • Enhanced Debt Relief assistance. If you already had an SBA loan in place prior to the Coronavirus pandemic, SBA is providing Enhanced Debt Relief assistance. The SBA will pay the principal and interest of current 7(a) loans for a period of six months.

TAX DEADLINES AND PAYMENT EXTENSIONS

The Treasury Department, IRS, Colorado and other states issued guidance on both tax filing and payment relief. Here are the summaries.

FEDERAL AND STATE RELIEF PROVISIONS

FEDERAL

  • The American Rescue Act of 2021 – This link provides the full text of the House bill. For a summary, click HERE.
    • Shuttered Venue Operators Grant (SVOG) –  This SBA page provides program application link, details, FAQ page, and other information for grant application.
    • Restaurant Revitalization Fund – This SBA page provides details about the RRF program to prepare restaurants for application. The opening date for application acceptance is Monday, May 3rd.
  • The Consolidated Appropriations Act of 2021 – This link provides the full text of the House amendment. For a summary, click HERE.
  • IRS Economic Impact Payments (aka Stimulus Payments) – This link provides information and FAQs for the first, second and third rounds of stimulus payments and 2020 Recovery Rebate Credit. NOTE – BEWARE of scammers pretending to be the IRS asking for your personal information to “verify” for payments. This link also provides information on payment schemes.
  • Families First Coronavirus Response Act – This link includes information about common issues employers and employees face when responding to COVID-19, and its effects on wages and hours worked under the Fair Labor Standards Act (FLSA), job-protected leave under the Family and Medical Leave Act (FMLA), and paid sick leave and expanded family and medical leave under the Families First Coronavirus Response Act (FFCRA). Additionally, it provides the Employee Rights Posters (and Poster FAQs) employers are required to display/provide to employees.

STATE OF COLORADO