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Alexis Nash

The Paycheck Protection Program (PPP) has been an essential source of funding and capital for Atlanta businesses working through the COVID-19 pandemic. Although the program’s popularity seemed to dwindle in recent weeks, the Small Business Administration reported that over 174,000 loans totaling $14.6B have been issued to Georgia companies.

As state-mandated rolling shutdowns and business interruptions continue in the COVID-19 pandemic, there is still uncertainty approaching the months ahead. Even organizations that are still using the Paycheck Protection Program (PPP) funds are faced with cash flow planning concerns. By now, many Atlanta business owners are aware of the tax opportunities contained in the CARES Act.

The Paycheck Protection Program (PPP) has been a useful tool in helping construction contractors weather the COVID-19 pandemic. As of June 30th, over 466,000 loans have been issued to industry companies totaling more than $64B. These numbers are stunning and reflect not only the depth of economic impact but also the popularity of the program.

After months of enduring forced business closures and stay at home orders, there appears to be light at the end of the tunnel. While Georgia was one of the states that started the reopening process earlier than most it has been a slow journey to “normal”.

After several months of enduring unexpected forced business closures and stay at home orders, state and local governments are executing their plans to gradually re-open businesses and jumpstart the economy. This is a welcome relief for many who were unable to operate and those who have had to significantly adjust operations during the emergency. Regardless of their situation, this is welcome news for Atlanta businesses that have been patiently waiting to serve customers and clients. As businesses open their doors again there will be new challenges, restrictions, and rules that must be addressed.

The COVID-19 emergency has forced both businesses and individuals to make difficult decisions. For businesses, it is all about maintaining positive cash flow and reducing expenses until market conditions return to “normal”.

Like many other industries, the real estate industry has been hit hard by the COVID-19 pandemic. When businesses face economic uncertainty, their financial instability trickles down to landlords, builders, and contractors.

The Coronavirus (COVID-19) emergency has impacted both individuals and businesses. The stay at home and forced business closures have sharply reduced demand for several products and services leaving businesses with no means to generate revenue

To help Congress initiated the Paycheck Protection Program (PPP) a forgivable loan available to businesses to support employee compensation and payroll expenses. The quick rollout of the program has created some issues and confusion leaving many Atlanta business owners with important questions. Although Treasury has issued interim final guidance, there are still questions about loan and employee calculations and the need for application resubmission.

The Coronavirus Aid, Relief and Economic Security (CARES) Act,(the Act) offers comprehensive relief to Atlanta businesses and individuals during this unprecedented emergency. It comes on the heels of the Families First Coronavirus Response Act, which solidified new and existing paid sick leave policies and created tax credits for impacted companies.