Posted on April 3, 2020 by John Lanahan
What do you get when you try to develop rules, guidelines, and processes to stand up and execute a $349B program in a week? Then provide that guidance to thousands of SBA approved lenders within 12 hours of when they’re expected to be live? The most active of which process a few hundred SBA loan […]
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Posted on April 1, 2020 by John Lanahan
Compass East has just received the initial Paycheck Protection Program application from Treasury. All applications will be processed through SBA approved lenders. You cannot apply for a loan yet, as lenders are still receiving guidance from the SBA. However, we are working with our clients to get documentation in order prior to applications officially opening. After […]
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Posted on March 30, 2020 by John Lanahan
On Friday, the $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act or CARES Act was officially passed. There is a significant amount of information to digest, so Compass East decided to summarize the CARES Act specifically on how it will provide relief for small businesses. We won’t focus on other programs like the Relief […]
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Posted on March 25, 2020 by John Lanahan
Five things business owners can do to prepare for a cash crunch We are living through truly unprecedented times. The speed at which COVID-19 has spread through global communities and shut down businesses seemingly overnight is remarkable. All of us have had to quickly shift to a crisis management mindset. Two weeks ago, the Travel, […]
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