Asset Protection • Business

Paycheck Protection Program Funding Update – April 21, 2020

If you own a small business and missed out on filing your application or receiving funding last week when the funds ran out, your second chance is here. $484 billion in new funds are expected to become available this week including $322 billion for the small business loan program that ran out of funds within two weeks, $60 billion for small-business disaster loans and grants, $75 billion in emergency funding for hospitals and roughly $25 billion for testing. Expected to pass the senate on Thursday and endorsed by Trump tweet earlier today, the funding should be available for loans by Friday at the latest.

Key to the bipartisan deal was negotiations of hospital and state and local funding. Hospitals made the cut as well as the inclusion that the $60 billion be reserved for smaller lenders to serve rural and underserved populations. Many lawmakers are saying this is only a stopgap and pressure for the next round of funding is already mounting.

If you’re in need, check out your options at and your local bank. The pace with which funding reaches applicants and the country gets back to work will be critical in keeping our economy going.

Kayle Leibold Director of Tax Planning & Accounting

As Atlantic Wealth Partner’s resident CPA, I’m focused on proactive income and estate tax planning and compliance, identifying little-known tax savings opportunities and using creative strategies to help clients retain more of the wealth they create. All of this is done in tandem with our in-house financial planners and other professionals on the team – attorneys, CPA’s and insurance advisors, in order to provide a wholistic approach to managing the complexities of your family’s financial future – as if it were my own.

My experience as an auditor in public accounting showed me just how many businesses struggle with their financial accounting and tax planning. I’ve seen hundreds of companies books and I thrive on opening a new set of financials to deliver fresh insights to owners and shareholders. No matter what your business or personal tax and accounting situation may be, we can help you cut through the data to make strategic, informed decisions that are best for your business and family.

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