The SBA 7(a) Loan Program: The Ultimate Guide

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What Is an SBA 7(a) Loan? SBA 7(a) loans are small business loans of up to $5 million that are partially guaranteed by the Small Business Administration (SBA). Lengths can go up to 25 years, and SBA 7(a) interest rates can be as low as the market prime rate plus 2.25%. Additionally, the SBA 7(a) loan…

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DOL to propose new FLSA independent contractor test

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The U.S. Department of Labor is set to propose a regulation revising its interpretation of the Fair Labor Standards Act’s classification provision to determine whether a worker is an employee or independent contractor, senior DOL officials said in a press call Tuesday. The Notice of Proposed Rulemaking (NPRM) will propose an “economic reality” test that would examine two…

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Discretionary vs Non-Discretionary Bonuses

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Related legal obligations Employees love to receive them, and employers may even love to give them, but rewarding good performance with bonus pay is not always a straightforward, isolated transaction. Most employers are familiar with the legal requirement to pay non-exempt employees, i.e. hourly employees (and even some who aren’t), for overtime hours at a…

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Don’t fall short of documented systems and adherence thereto.

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While every state has their local statute, one needs to comply with both state and federal legislation  or face the consequences Risk mitigation in today’s world is of paramount importance. Ask the food chain Red Robin. They just settled a class action lawsuit by their employees for $8.5 Million. Why ?   The claim was that…

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Small Business – Opening Up and Tort Risk

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The Society for Human Resource Management (SHRM) released a report on June 23, 2020. They surveyed 416 small business executives from organizations with 500 or fewer employees. Small business owners are hopeful for a swift economic recovery as they begin reopening after closures due to the COVID-19 pandemic. To reopen, nearly a third of those…

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Convert Fixed Costs to Variable Costs

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In these unpredictable times, and companies are scrambling for additional cash. The old adage cash is king, is perhaps the most important advice for survival. In simplistic terms, fixed costs by definition is a business costs, such as rent, that is constant whatever the quantity of goods or services produced. In contrast variable costs is…

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Video: Small Business Administration Paycheck Protection Program

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SBA Protection Program – Salesforce’s Mike Wolf helps demystify this program with the help of other business leaders.

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Paycheck Protection Program Loan Forgiveness

View and download the Loan Forgiveness Application – PDF

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SC: Punitive Measures for those that do not wish to return to work.

Individuals receiving unemployment insurance (UI) benefits may lose their UI benefits if they refuse to return to work or accept an offer of new employmentwithout good cause. Please notify the Department of Employment and Workforceif an individual refuses to return to work or refuses an offer of work from you. You can notify DEW through…

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Happy Employees + Happy Customers = Happy Shareholders.

What does Sir Richard Branson and Ed Bastian (Delta Airlines, CEO) have in common. Besides the obvious, of wealth, and holding prestigious positions within their respective companies – they both believe in Happy Employees, are the most significant drivers in any company. Camille Preston, PhD, PCC Forbes Councils Member, noted that happy employees contribute an…

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