News & Insights
Sep 23, 2020
As a result of the ongoing COVID-19 crisis, many businesses are struggling. Despite government assistance through PPP loans and other government funding opportunities, many businesses are trying to make sense of the regulations and requirements, as well as working on applying for forgiveness or repaying loans received.
Waller's Leigh Griffith, along with others from LBMC and Pinnacle Bank, describe the challenges businesses are facing and what they should be doing now in an article published in the Tennessee CPA Journal.
As the article notes, "working 'in good faith' and taking the necessary steps to document what you're doing is key." As long as you are using the funds as they were intended, for the preservation of jobs and paychecks for employees, you have reason to be optimistic.
Partnering with advisors, including banking and legal advisors, can help you navigate the ever-changing regulations and assist your business in reaching the best outcome.
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