Staying Safe as COVID-19 Restrictions Ease

As stay-at-home constraints begin to ease, people are starting to venture out of their homes, and some are even reverting to work. However, that doesn’t mean that the virus has gone away—or that there is a vaccine or an antidote. So how can you stay safe and healthy while slowly returning to some semblance of normal life?

First and foremost, stay the course. By this time, we may feel like experts on the Centers for Disease Control and Prevention (CDC) guidelines set up to protect ourselves and prevent the spread of the coronavirus. However, these recommendations bear repeating.
Practice Social Distancing
According to the CDC, the best way to prevent illness is to avoid being exposed to the virus. COVID-19 spreads from person to person through respiratory droplets that are produced when an infected person coughs, sneezes or talks. Even a person without symptoms can spread the virus, so it’s important to continue practicing social distancing— stay six feet apart from other people and avoid crowded places and mass gatherings.
Continue To Wash Your Hands
Yes, it would help if you continue washing your hands often, especially after you’ve been in a public place or after you’ve blown your nose, coughed or sneezed. Wash your hands with soap and water for at least 20 seconds or use hand sanitizer that contains at least 60% alcohol. And last, but not least, avoid touching your eyes, nose and mouth with unwashed hands.
Continue Cover Your Mouth and Nose
Everyone should wear a cloth face cover—whether it’s a mask, bandana or homemade face covering—when out in public and it is difficult to maintain social distancing measures, including trips to the grocery store or pharmacy. As recommended by current CDC guidelines, there is no need for a surgical mask or N-95 respirator. Save these critical supplies for health care workers and first responders.
Ensure your mask fits properly. Your mask should cover your mouth and nose and fit snugly, but comfortably, against the side of your face. Although your mask should include multiple layers, it should allow for breathing without restriction.
Just as important, when you return home, remove your mask with care, avoiding your eyes, nose and mouth, and wash your mask regularly.
Continue Wearing Gloves When in Public
“While wearing gloves when out in public might make you feel safer, if they are not used perfectly, they could easily get you sick,” said Brandie Anderson, RN, MPH, CIC, infection prevention director at Banner – University Medical Center Tucson. “Think of touching germs on a surface as similar to touching red paint. If you’re wearing gloves and you touch red paint (the germs), then everything else you touch with those gloves will be contaminated with the red paint (germs), including your cell phone, car keys, eyes, nose or mouth.”
The safest thing to do is to wash your hands thoroughly or use hand sanitizer before you touch your personal items or face.
Maintain Healthy Habits to Boost Your Immune System
As we venture out, it is important to keep our immune system healthy to help reduce the risk of illness. Keep up that exercise routine, get plenty of sleep, make sure to drink enough water and eat a healthy diet.se, eyes or mouth.” By practicing all these recommendations, they work together to reduce the risk of spreading the virus to ourselves and each other.

Do You Need Help Managing Liquidity in the Current Economic Environment? How About Forecasting Cash Flow? Join ITAC’s Cash Flow 101 Webinar to learn tips and techniques to manage your business’s cash flow as you navigate the pandemic. As part of ITAC’s COVID-19 Webinar Series, this focused 20-minute session is presented by Roy S. Ryniker, President of Reorganization Alternatives Group. Watch the webinar on-demand now!

Alabama When the state’s stay-at-home order expired April 30, it issued a replacement order that encouraged people to stay home and continued to ban non-work gatherings of 10 people or more. It also allowed retailers and beaches to reopen, with restrictions. Starting May 11, new rules were put in place, through at least May 22: — Non-work gatherings […]

Some Great Ideas For Celebrating Mother’s Day During COVID-19

Mother’s Day is such a beautiful and unique day to show your appreciation for the motherly figure in your life. Whether it’s your mom, your grandma, an aunt, or someone else, honoring that person might look a bit unconventional this year as we deal with the COVID-19 pandemic.

However, there are ways to be artistic and show your love this Mother’s Day. You can perform simple acts of kindness from your home. A small celebration or gesture can go a long way.
Here are some ideas of what families can do this Mother’s Day to show your love and appreciation.
What Families Can Do

Breakfast in Bed. What mom wouldn’t want to wake up to coffee, Orange Juice, and eggs for breakfast? This is an easy, pleasant solution to make for mom.

Create a Playlist. The idea of making a playlist with mom’s favorite songs will always be appreciated. Create a playlist that includes upbeat music that will encourage the whole family to dance.

Flowers, Gifts, and Takeout. You still have time to order mom flowers or purchase a gift. Maybe some slippers, gardening tools, or candles will brighten her day. Or, if you want to host a special brunch or dinner for mom, you can order delivery to support local businesses.

The New Normal
Virtual Gatherings. Many of us will celebrate Mother’s Day virtually this year. Host a get together on FaceTime, Skype, Zoom. Planning an online ‘party’ with music, laughter, and food in each home to spend Mother’s Day.

Share Love on Social Media. If you’re on Facebook or Instagram, share a photo of you and mom with a special message. All of the likes and remarks will surely make mom smile.

Family Walk. If the weather cooperates, be sure to get outside and take a socially-distanced walk with the family.

Video Card. Can’t make it to the card store? No problem! Smartphones have made it easier than ever to record special thoughts that mom can keep forever. Make it a tradition and she can watch her child grow throughout the years. Bonus – it’s eco-friendly, too!.

From the betterpay family to yours, we wish all the mothers in this world a Happy Mother’s Day. #Iloveyoumom #betterpay

Do I Qualify for the PPP Loan?

Most companies should be able to qualify for the Paycheck Protection Program. If your business is based in the U.S., has 500 employees or less, and if your market is financially affected by COVID-19, you should be eligible for the PPP loan.While the PPP is meant for all small businesses—from sole proprietors to C corporations—some restrictions and requirements may ultimately invalidate you.
General disqualifiers
If any of these statements apply to your company, you are not eligible for the PPP.
You were not in service on or before February 15
You employ household employees such as nannies or housekeepers
An owner of 20% or more is involved in the justice system (incarcerated, on probation or parole) or has been convicted of a felony within the last five years
You, or any business owned or controlled by you or any of your owners, is delinquent or has defaulted on a loan from the SBA or any other Federal agency within the last seven years
You or your business are bankrupt or currently in bankruptcy proceedings
You are an officer or key employee of the lender you are applying with, or a close relative of one. You may apply for the PPP with an unaffiliated lender
Your business is a hedge fund or private equity firm
You do business in an industry that is generally not eligible for SBA 7(a) loans, such as speculation or multi-sales distribution
Independent contractors
To apply for the PPP, you will need a tax-ready 2019 Schedule C from your personal Form 1040 tax return. While it does not have to be filed, it must be complete and accurate, so you will need all your 1099-MISC forms handy to complete your Schedule C.
You must have reported a net profit on your Schedule C in 2019. If you do not have a 2019 Schedule C because your business was not in operation in 2019, further guidance is pending from the Treasury.
Sole proprietorships and Single-Member LLCs
You will need a 2019 Schedule C from your personal tax return. While it does not have to be filed, it must be complete and accurate. You must have reported a net profit on your Schedule C in 2019. If you also have employees on payroll, you do not need a net profit, but you must have payroll tax forms 940 and 941/944 for 2019.
Partnerships
Individuals should not submit separate applications, but only submit one PPP application on behalf of the partnership. If you also have employees on payroll, you should have payroll tax forms 940 and 941/944 for 2019. The SBA guidelines allow for payroll processor records containing equivalent payroll tax information, but your lender may not accept those.
S corporations
Only S corps who have payroll are eligible for the PPP. If you were only paid through owner draws or distributions and did not pay payroll tax, you have no payroll costs to report and the PPP is not suitable for you.
If you also have employees on payroll, you should have payroll tax forms 940 and 941/944 for 2019. The SBA guidelines allow for payroll processor records containing equivalent payroll tax information, but your lender may not accept those.
C corporations
Only C corps who have payroll are eligible for the PPP. If you were only paid through owner’s draws or distributions and did not pay payroll tax, you have no payroll costs to report and the PPP is not suitable for you.
If you also have employees on payroll, you should have payroll tax forms 940 and 941/944 for 2019. The SBA guidelines allow for payroll processor records containing equivalent payroll tax information, but your lender may not accept those.
Nonprofits
You will need to have run payroll in 2019 to qualify for the PPP. Faith-based organizations should also consult the SBA’s guidance on eligibility.
How to apply for the PPP
To apply for your PPP loan, you’ll need to apply through a lender who is participating in the PPP program.
You can find an official list of PPP lenders here.
We recommend starting with neighborhood bank and credit unions, as they will be the ablest to serve small businesses. It doesn’t hurt to apply through more than one lender. Once you’re approved for a loan, the SBA will automatically reject your second application.
Further reading: Documents Required for the PPP Application
Support from government
The employee retention tax credit
You can be eligible for payroll tax credits if you keep your employees on the payroll, if you paid COVID-19-related sick leave for employees, or if you had to suspend operations.
Further reading: Employee Retention Credits: A Simple Guide (COVID-19)
The Express Bridge Loan
You can borrow up to $25,000 for disaster-related purposes from a lender you have an existing banking relationship with.

Betterpay is proud to support American small businesses

For help on accepting payments for your business visit us at www.btrpay.com

US Senate passed a bill authorizing the addition of $310 billion to the Paycheck Protection Program (PPP)

The Senate on Tuesday approved approximately $484 billion in new coronavirus aid for small companies and hospitals and extra funding for testing, ending a long battle over the size and contents of the package.

The deal includes an added $310 billion for the Paycheck Protection Program (PPP), including $60 billion especially for community banks and smaller lenders, as well as $75 billion for hospitals, $25 billion for testing, and $60 billion for emergency disaster loans and grants, according to a summary obtained by The Hill.

Congress recently faced calls to immediately replenish the PPP funds after the initial $349 billion appropriated.

Late last week amid massive levels of interest from independent contractors and businesses that have been struck by the coronavirus. The agreement provides $310 billion for the program as well as an additional $10 billion for organizational costs and fees.

Covid-19 Reilef – Citi Bank Covid-19 Relief

For Retail Bank Clients: Fee waivers on monthly service fees; waived penalties for early CD withdrawal.

For Retail Bank Small Business Customers: Fee waivers on monthly service fees and remote deposit capture; waived sanctions for early CD withdrawal; Bankers available after hours and on weekends for support

For Credit Cards: Waiver of the minimum payment due requirement and late fees for 2 statement cycles. Your account would be reported as current to the credit bureaus during the waiver period unless your account was delinquent before the waiver period began.

For Mortgages: Citi’s mortgage sub-servicer Cenlar FSB is offering 90-day forbearance for Citi’s mortgage loans where the borrower is enduring hardship, during which there will be no unfavorable reporting to the credit bureaus for up-to-date customers. Also, foreclosures and evictions have been paused.

Student Loans: Citi is granting forbearance programs for student loans.
https://online.citi.com/US/JRS/pands/detail.do?ID=covid19

Covid-19 Reilef Chase Bank Covid-19 Relief

Chase Bank is supporting clients in the U.S. impacted by COVID-19 to reach out to discuss your situation and find a solution for you.
https://www.chase.com/digital/resources/coronavirus

You can now apply online to delay up to three payments on your individual or business credit card if you’ve been affected by COVID-19.
https://www.chase.com/digital/resources/coronavirus/credit-card-relief-programs

They’ve added a page specifically devoted to clients who require mortgage relief.
https://www.chase.com/digital/resources/coronavirus/mortgage

For Auto Loan and Lease customers, Chase is offering a lease-end extension. By proceeding to make your monthly payments, you may extend the term of your Lease Agreement for up to six months to allow you extra time and flexibility.
https://www.chase.com/digital/resources/coronavirus/auto-lending

Covid-19 Reilef Stimulus Payment Updates

The IRS has designed a site where taxpayers who have selected to receive paper check refunds on their latest return (2018 or 2019), can now register to accept Direct Deposit for their Stimulus Payment.
You can also check the state of your payment if you are already set up for Direct Deposit but haven’t received your refund yet.

The site also allows you to update your posting address if you recently moved.
To register for Direct Deposit, check the status of your payment, or change your address click here.

Note: We’ve heard back that for some eligible recipients who have not received their Direct Deposit yet, the site returns an error when attempting to track the status. We suggest you check back daily, as the IRS is sure to update these errors.

Paper checks are scheduled to go out intermittently from April through September, with lower income recipients receiving theirs first.

Covid-19 Reilef Small Business Grant

Hello Alice- Hello Alice is providing $10,000 grants to small business owners affected by COVID-19. Business owners must have under 50 employees and be registered in the United States. Apply Here!

Facebook- Facebook is awarding grants to companies that have between 2 and 50 employees and have been in business for over a year. Apply Here!

Freelancers Union- Freelancers Relief Fund will assist up to $1,000 per household to qualify freelancers to cover lost income and necessary expenses. Apply Here!

GoFundMe- GoFundMe is offering to meet funds up to $500 to Small Businesses who raise more than $500 on GoFundMe due to COVID-19 hardships. See more here!

Save Small Business Fund- The Save Small Business Fund is providing grants of up $5,000 to small companies with 3 to 20 employees. Apply Here!