Digitally planning for the PPP process

first_imgOn June 5, 2020, in a rare display of bipartisanship, updates to the Paycheck Protection Program (PPP) were signed into law. Under the CARES Act, the Small Business Association (SBA) implemented PPP to combat the economic fallout of COVID-19. It provides small businesses with the necessary funds for payroll, benefits, rent, utilities and interest on mortgages. These loans can be forgiven under certain qualifications.Aptly named, the PPP Flexibility Act is designed to ease some burdens on small businesses who still needed more leeway. Changes include:Reducing the amount of the loan needed to be spent on payroll to 60%Extending the period to spend funds to 24 weeks (ending Dec. 31, 2020)Easing rehire requirementsAllowing borrowers to delay paying payroll taxesExtending the repayment term from two to five years if loans are not forgivenWhile the August 8 application deadline remains in effect, these modifications can be a victory for small businesses. Lenders tracking the PPP process for their customers will need to take these changes into consideration, in addition to the compliance challenges and attention to detail the program demands. But using digital tools at an institution’s disposal can ease the process and ensure these loans are carried out, managed and forgiven as appropriate. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

COVID-19: Government to distribute 100,000 protective equipment to medical workers

first_imgAccording to the National Disaster Mitigation Agency (BNPB), the government has distributed around 40,000 protective equipment to the Jakarta administration.Read also: COVID-19: As Jakarta braces for lockdown, Bali reports zero local transmissions Around 25,000 will be sent to Semarang in Central Java, Surabaya in East Java and Bali on Monday. Central Java, East Java and Bali have recorded 15, 41 and three cases, respectively. Another 25,000 will be distributed to Banten, Bogor and other areas in West Java as the closest regions to Jakarta. Banten and West Java have recorded 47 and 59 cases, respectively.“[Meanwhile], 10,000 units will be stored as backup,” BNPB spokesperson Agus Wibowo said in a statement on Monday. “Each Regional Military Command, as the Regional Task Force [for COVID-19] will receive the protective gear and distribute them,” he added.A shortage of protective gear has affected hospitals across the country as they struggle to handle a rapidly increasing number of COVID-19 patients and suspects, with some resorting to donations. (mfp)Topics : The government will distribute 100,000 personal protective equipment such as masks, gloves and hazmat suits to medical workers treating COVID-19 patients to better safeguard them against the disease,The death toll from COVID-19 in Indonesia has risen to 48, with 10 more deaths among the 514 cases reported nationwide, Health Ministry disease control and prevention director general Achmad Yurianto announced on Sunday.Jakarta medical personnel will be prioritized and the first to receive the protective gear, having recorded the biggest increase in infections and deaths. Six new fatalities on Sunday brings the total number of related deaths in the capital to 29.last_img read more

Germany, France vow united front as Brexit talks sour

first_img“It is one of the key priorities of the German (EU) presidency to establish a high degree of unity” among the remaining 27 member states regarding the talks, Roth added. Britain followed through on the results of a deeply divisive 2016 referendum and left the EU after almost half a century of integration on January 31.It remains bound by the bloc’s rules until December 31 pending the outcome of negotiations about its future relationship with its largest trading partner.But with the pandemic wreaking havoc on the timetable, fears are growing that time is running out fast to secure an agreement that could prevent a messy exit. Since Germany took over the presidency of the EU on July 1, Chancellor Angela Merkel has repeatedly warned that the bloc must prepare for the possibility that talks could collapse.The likelihood of failure increased dramatically this week when the British government admitted its new bill governing post-Brexit trade in Britain and Northern Ireland breaks international law.Roth and Beaune said their governments were determined to stick to their principles even as the prospect of a “hard Brexit” and an accompanying economic blow loomed amid a disastrous pandemic.”We are taking a constructive but firm approach,” Beaune said. Topics : ‘Proceed in good faith’ London has set an October 15 deadline for a deal even though chief negotiators have warned that an agreement lies out of reach because of gaps in major areas such as fishing rights and fair competition rules.Beaune said the ball was now in the UK’s court to head off a calamitous no-deal departure.”It’s up to the UK to say whether it wants — beyond speculation and rumors — to leave without an EU deal, which would not be good for the EU but even less so for the UK,” he said.He pointed to the Withdrawal Agreement, which he said provided the “framework” for an accord on the future relationship.”We must stick to its principles and now speed up the negotiations on the substance and details regarding the implementation” of the declaration, he said, adding that he refused to believe “one of the parties would walk away from this agreement”.Both Roth and Beaune said their governments wanted to maintain “strong ties” with Britain.”For that to happen, you obviously need both sides to uphold what they already agreed and proceed in good faith with negotiations on a future relationship,” Beaune said.”We want a deal,” he stressed. “That is the position of France and the EU.”  Germany and France pledged to maintain a firm, united front in talks with Britain on its future relationship with the EU as Brexit talks enter a rocky new phase, their ministers for Europe told AFP.After Britain’s bombshell announcement that it would intentionally violate its EU withdrawal treaty on the road to its divorce from the bloc, the Franco-German powerhouse said it was on the same page.”The French position is also the German position — that is namely the EU position,” Germany’s state minister for European affairs Michael Roth said in a joint interview with his visiting French counterpart Clement Beaune.  last_img read more

The NBA’s potential solution to no crowd noise? Video games

first_img“NBA 2K” is about to be more realistic than ever. Kind of.One of the biggest hurdles the NBA will face as it works toward the resumption of play is the lack of crowd noise during games. While fans in attendance is going to be a big no-no, the NBA is thinking of innovative ways to get “crowds” involved. According to The Athletic’s Shams Charania, the NBA is looking into potentially using crowd noise from the “NBA 2K” video game series to fill the void of silence in arenas when the league returns to action later this summer.As it stands, the “NBA 2K” series is one of the most accurate depictions of broadcasts when it comes to sports games, so the concept isn’t all that bad. Piping in crowd noise does go a long way in making games feel more natural, so it’s nice to see the NBA will at least consider that option. MORE: ‘Call of Duty’ stands with Black Lives MatterAcross the globe, sports leagues are trying to figure out ways to make the fan-less experience interesting, and in many cases, humorous. The KBO currently has cardboard fans and cheerleaders, while All Elite Wrestling has wrestlers at ringside during their live events to cheer — or boo — matches in progress. The NFL has also considered piping in crowd noise should its 2020 season get underway with no fans in attendance.In any case, it’s good to see the NBA, arguably already the world’s most forward-thinking and innovative pro sports league, continue to figure it out when it comes to resuming play amid the coronavirus pandemic.Let’s just hope the Association doesn’t turn to sex dolls.last_img read more