Main Street Lending Program

The Federal Reserve established the Main Street Lending Program (Program) to support lending to small and medium-sized businesses and nonprofit organizations that were in sound financial condition before the onset of the COVID-19 pandemic. The presentation below focuses details, eligibility, and required documents regarding for-profit businesses. Three different loan programs have been designed for the for-profit business -- Main Street…

3508EZ PPP Loan Forgiveness

You may be able to apply for forgiveness through the SBA Form 3508EZ if you are a borrower who is: Self Employed Individuals, Independent Contractors, or Sole Proprietors who have no employees at the time of the PPP Loan application (no employee salaries included) OR A Borrower who did not reduce the annual salary or hourly wages of any employee…

Lake Como Restarts

https://www.youtube.com/watch?v=i_-m1W293Cw&feature=youtu.be As restrictions begin to change and entire countries begin to restart, we hope to continue offering you the support and services you need during this time. From our offices in Como to New York, Milan to San Francisco and Miami, we are here for you. Video Source: https://mylakecomo.co/en/news/lake-como-restarts-video/

PPP Forgiveness Application Update

On June 16, 2020, the SBA released an updated instruction guide and application form for PPP Loan Forgiveness. These updates mirror the changes made by the PPP Flexibility Act, signed into law on June 5th.  On Monday, June 22, they also released a additional revisions to the PPP Loan Forgiveness (which already reflect most of what is included in the…

Forgiveness for the Paycheck Protection Program Loan

Forgiveness for the Paycheck Protection Program Loan (PPP Loan) now has an application with detailed instructions. The SBA and the Department of the Treasury have come together to release a form with detailed instructions and an application for forgiveness. Please note that the application and instructions will be subject to further regulation and guidance. Please see the link below to…

CARES ACT – Highlights for Individuals

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act, H.R. 748) was signed into law on Friday, March 27th, 2020. The act is meant to provide economic relief nationwide with a $2 trillion stimulus package. Titles I, II, III, and IV of the Act  (Keeping American Workers Paid and Employed Act,; Assistance for American Workers, Families, and Businesses, Supporting…

Where is My Economic Impact Payment and Other Frequently Asked Questions

If you have been wondering when your Economic Impact Payment is arriving, you are not alone! The IRS has been sending payments through direct deposit over the last few weeks, while distribution of checks will begin this week. Where Can I Check My Payment Status or Add Bank Information?  On the IRS Economic Impact Payments web page! Click on the…

Executive Order 202 Extended

On May 7, 2020, New York Governor Cuomo issued an extension on the mortgage and rent moratorium to August 20, 2020. The extension states: A landlord cannot begin any proceedings or enforcements of evictions for non-payment of rent for residential or commercial tenants facing financial hardship due to COVID-19 for a period of sixty days beginning on June 20, 2020.Foreclosures…