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Day: September 14, 2021

NY HERO Act Activation

By Lisa Calick, Director, HR Advisory As mentioned in our earlier blog, What You Need to Know About the HERO Act, NY private employers were obligated to develop a safety plan should COVID-19 ever be designated an infectious disease. New York’s Governor Hochul has now made this designation, thus triggering activation of the safety plans created by employers under the NY HERO Act. As a result of this designation, NY employers must implement the plans they had adopted.  Employers...

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SBA Increases Max EIDL Loan to $2 Million

By Travis Miskowitz, Director, CFO Advisory The U.S. Small Business Administration announced major changes to its signature Economic Injury Disaster Loan (EIDL) program on September 8, 2021. This includes an increase to the maximum loan amount from $500,000 to $2 million and additional permitted uses of the loan proceeds including business debt payments among other enhancements. The program updates are a welcome change as the administration continues to focus on supporting...

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