Denied a PPP Loan? Here Are Some Other Options for Relief - Motley Fool

COVID-19 has been devastating the U.S. economy for nearly two months, and until social distancing measures can be relaxed, there's a good chance it will continue to do so. Small businesses have been hit particularly hard over the past six or seven weeks, as many don't have the financial resources to withstand long-term closures.

Thankfully, the CARES (Coronavirus Aid, Relief, and Economic Security) Act has provisions designed to specifically help small-business owners, including its Paycheck Protection Program. Under this program, eligible business owners can receive forgivable loans that equal two-and-a-half times their monthly payroll costs. As long as 75% of PPP loan proceeds are used to pay and retain (or rehire) staff, those loans become completely forgivable -- including the remaining 25% that doesn't need to be used to cover payroll.

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There's just one problem with these PPP loans: There's not enough money to go around so that every small-business owner who needs one gets one. In fact, the original $350 billion allocated to these loans under the CARES Act ran out in 13 days. An additional $300 billion was subsequently made available, but the expectation is that those funds will be exhausted just as quickly as the first round.

So where does that leave you if you haven't yet managed to submit an application for a PPP loan, or if you submitted one but recently found out it's been denied? Thankfully, you're not out of options. Here are a few alternate ways you can get financial relief.

1. Payroll tax deferment

Normally, you're liable for payroll taxes every pay period. But if your business is struggling, you can defer payroll taxes for the rest of the calendar year. This doesn't mean you get out of paying them completely; rather, you push those payments off, paying 50% in 2021 and the remaining 50% in 2022.

2. The Employee Retention Credit

This fully refundable tax credit is worth 50% of qualified wages per eligible employee on your payroll, and it applies to wages paid after March 12, 2020, and before Jan. 1, 2021. The credit applies to a maximum wage of $10,000 per employee, and so the maximum credit per employee is $5,000.

3. Pandemic Emergency Unemployment Assistance

If you're unable to get funding to maintain your staff and are forced to implement layoffs, your employees should be able to apply for unemployment benefits so they have some money coming in while they either look for work or wait for you to be in a position to rehire them. But what about you? Normally, self-employed individuals aren't eligible for unemployment benefits. But as part of the CARES Act, you can now apply for unemployment benefits and receive them for up to 39 weeks (the cap is normally 26 weeks, but the CARES Act extends it).

There's no question about it: Right now is a difficult time to be a small-business owner. If you've been denied a PPP loan, don't give up hope. Instead, explore your other options for financial relief. And also, don't hesitate to apply for a loan again, especially if you're able to address the reason your initial application was denied. You may hear that it's too late to get in on the second round of PPP funding, largely because banks are still working through backlogs dating back to the initial round, but since we don't know if a third round of funding is in the works, it never hurts to try.

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Kenny Chesney interview: On new album 'Here and Now,' postponed concerts and reconnecting - USA TODAY

Dave Paulson Nashville Tennessean

Published 6:55 AM EDT May 1, 2020

Kenny Chesney hasn't surfed a 30-foot wave, but in a way, he knows how it feels. He's heard about the experience from friends in California, and it sounds all too familiar. 

"One of the things that they can never re-create is being in the middle of that wave, and the awesomeness of God's energy is right at their back," the country superstar says. 

Chesney's felt that same rush, and the clarity that comes when he's fully in the present. It happens when he's singing on stage — and for the last decade, that's almost always been in a sold-out football stadium.

It's what inspired the title of his new album, "Here and Now," which arrives Friday. 

"The one place I've found where I truly live in that moment is when I'm on stage. I don't know, it may be a little sad to say that (laughs), but I can tell you, that's where I truly feel like I'm living in the moment."

He's hoping to get back to that feeling soon. His "2020 Chillaxification" tour was supposed to kick off April 18 in Arlington, Texas, but due to the COVID-19 pandemic, all dates through May 28 have been postponed.

Chesney was in the midst of rehearsals when they had to put everything on hold. As he puts it, "We were trying to build the circus and then had to shut it all down."

The tour is set to resume May 30 in Pittsburgh.

"I think we're cautiously optimistic — but like I said, cautiously — about playing music this year," Chesney says. "But honestly, we play a lot of the venues that the NFL play. We're just kind of watching what happens with that, and we'll see."

On Friday, Chesney will celebrate the release of "Here and Now" instead with a livestream from home in his native Tennessee. He's also calling on fans — known as the "No Shoes Nation" — to take part in a "Virtual Happy Hour," listening to the album with friends and family via Zoom.

"It's such a unique time, and strange, and one of the things it's forced everyone to do, in an odd way, is reconnect, and connect better."

'Here and Now' contains moments of gratitude, introspection 

Until Chesney did some reconnecting of his own, "Here and Now" was incomplete. He was about two-thirds through the making of it when he decided to fly a bunch of his songwriter friends to California for a week of "just making stuff up," he says with a laugh. 

By the end of that week, they'd come up with the title track, as well as "We Do," a guitar-driven love letter to the "No Shoes Nation" and everybody who travels with him on the road.

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The hook — "Who gets to live like we do? We do" — is the same phrase used by his crew members before shows, as "a recognition of how blessed we are," Chesney says.

Sometimes, the gratitude comes with a hint of melancholy, like on "Knowing You," which might be his favorite track. It's a waltz — once commonplace in country music, now all too rare — with an inspired twist of the phrase. 

"Knowing you, you probably got your toes in the sand/ at a bar on a beach in the sun somewhere," he sings, kicking off a list of imagined scenarios.

By song's end, he decides, "Damn, it was good knowing you."

"It was a song that rang really true in my life," Chesney says.

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"I think a lot of people have had someone in their lives that meant a lot to them, and for whatever reason, that person is no longer in their life, whether you decided to move on or that person passed. ... It's a recognition of how much gratitude you have that they were in your life at all in the first place. And you hope they're somewhere out there in the universe thinking the same thing about you."

Even the confrontational "You Don't Get To," with a bed of moody piano and drifting guitars, has a positive slant. 

"We all get caught up in these relationships and addicted to certain people," Chesney says. "And we all find a reason to let them back in. But this song was about that person finally standing up for themselves and saying, 'You don't get to act this way anymore, and I'm gonna respect myself and move on with my life.' "

'You can't help but be inspired' 

There's a wide cast of characters on "Here and Now," and as narrator, Chesney's often cheering them on, from the woman living life at her own speed on "Everyone She Knows," to the gas station cashier who knows how to "laugh and live with a half-full cup" on "Happy Does."

While his tour is sidelined and he's hunkered down in Tennessee, Chesney has a lot of new people to root for: those on the front lines of the pandemic.

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"This is biblical in nature, what's happening, and those people, what they're doing, they're laying their life on the line for us to get past this. It's just unbelievable. You can't help but be inspired."

He's hoping to pay it forward to those who'll be listening to "Here and Now" at home — rather than at a stadium, a beach or a bar — for the time being.

"Anything that can occupy our brain and make us feel happy, I think that's what a lot of these songs do," he says. "A lot of them reminded me to try to live in the moment, live within these songs and be happy. That's what I think is the true thread of this record, and I feel like it's a good time for it to come out."

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Coronavirus in Illinois updates: Here’s what’s happening Friday - Chicago Tribune

Just weeks ago, Muyumba, 48, had never made a face mask but now she’s gotten the technique down to 20 minutes, five minutes for cutting and the rest spent sewing. Her husband helps her iron the masks. Muyumba, a refugee from the Democratic Republic of Congo who spent time in Namibia, is part of the Sewing Studio group. put together by RefugeeOne, which has made 1,000 masks to be donated to various community groups.

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Here's how some communities are rallying around graduating high schoolers - CNN

Gone are the traditional ceremonies and grad night celebrations.

But the milestone is not going unnoticed: Communities across the country are rallying behind seniors to help them celebrate their accomplishments.

Here's a look at what they're doing.

Drive-thru celebrations

Like many school districts, the Savannah-Chatham County Public School System in Georgia is planning virtual graduations for departing students.

But, the district also hosted special curbside celebrations for graduates, during which seniors cruised by campus to get their caps and gowns.

As seniors drove through the pick-up line, they were met with a party-like atmosphere. Teachers passed out gifts and applauded for their students.

Some students even decorated their vehicles with streamers, signs and balloons.

'Adopt-a-senior'

Some people are also taking part in a trend that recently popped up on Facebook called "adopt-a-senior," where graduates are virtually adopted by someone in their community.

In Corpus Christi, Texas, Ashley Calderon, a mom, is among those participating in the trend. She launched a Facebook group to help lift the spirits of graduates, according to CNN affiliate KRIS.

How it works: Families of seniors post images and information about their graduate in the group, and then someone comments saying they will "adopt" them. The adopter then sends the graduate a gift, such as a basket of goodies.

"So it is just awesome seeing our spirits being lifted by receiving a basket with our favorite things or letters of encouragement," senior Chantel Karpesky told KRIS. "Some people even Venmo their senior money."

The Facebook group now has over 12,000 members.

Giant banners for all to see

Seniors at Stanley High School in Logansport, Louisiana might not be able to walk across the stage, but the school is still celebrating them in a big way.

Graduating students have their pictures plastered on banners outside of the school, for all to see as they pass by.

"We are a very small community and these signs can be seen from the highway, so every time our students or their families drive by, they are able to feel special and appreciated," Lindsey Christiana, a teacher at Stanley High School, told CNN.

Normally at their graduation ceremony, seniors announce what they will be doing after high school. To continue this tradition the school also made a special video showcasing each graduate and their plans for the future.

Bus drivers celebrate

It's not just teachers and neighbors helping commemorate seniors.

In Palatine, Illinois, the bus drivers at Township High School District 211 got in on the festivities in a creative way.

The group of drivers used nearly two dozen buses to form the numbers 2020.

The school district will also hold virtual graduations this year, with a tentative in-person ceremony for later in the summer.

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Libur Kompetisi, Pemain Sriwijaya FC, Alvin Pilih Buat Tempat Nongkrong Ala Cafe - Tribun Sumsel

Libur Kompetisi, Pemain Sriwijaya FC, Alvin Pilih Buat Tempat Nongkrong Ala Cafe

TRIBUNSUMSEL.COM, PALEMBANG- Memanfaatkan libur panjang kompetisi, pemain tengah Sriwijaya FC Alvin memanfaatkan halaman belakang rumahnya sebagai tempat nongkrong sederhana.

Dikatakannya jika tempat tongkrongan yang lebih mirip mini cafe itu hanya diperuntukkan bagi dirinya dan teman-temannya saja.

"Enggak dibuka sih mas, cuma buat saya sendiri aja sama temen-temen di kampung sini," kata pemain yang mengidolakan Zah Rahan Krangar itu.

Alfin mengatakan jika ia berinisiatif membuat cafe sederhana di belakang rumahnya agar dirinya betah dan bisa mengajak teman-temannya untuk tidak nongkrong diluar rumah.

"Biar gak nongkrong diluar aja mas, lagian juga ada halaman kosong dibelakang sekalian bersihin dan buat tempat nongkrong sama temen kalau tempatnya lesehan saja," pungkasnya.

Eks pemain Perseta Tulungagung itu mengatakan ide untuk membuat tempat ngopi pribadi tersebut muncul dari keinginannya sendiri, ditambah lagu ada alat-alat penduking yang tak terpakai membuat alvin merealisasikan gagasannya itu.

"Kalau idenya sih dari saya sendiri mas, kebetulan ada alat nganggur juga jadi tinggal nambah-nambahin dikit," ujar pemain yang saat ini berusia 22 tahun itu.

Selain itu, gelandang yang kerap mengacak-acak pertahanan lawan itu mengatakan jika ia juga memanfaatkan sebagian peralatan temannya yang sudah tak terpakai untuk membuat tempat tongkrongan nya.

"Punya temen yang dulu punya cafe mas sekarang gak kepake, trus alat lainnya beli sendiri jadi sebagian punya temen, sebagian ada juga yang saya beli sendiri mas," ungkap pemain asli Sidoarjo itu.

Lebih lanjut, Alvin mengatakan jika ia belum tahu kedepannya apakah cafe sederhana itu akan dimanfaatkan untuk dijual.

"Kalau itu gak tahu ya diliat aja kedepannya mas tapi kayaknya nggak untuk dijual," ungkapnya.

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Survive di Tengah Pademi Covid-19, Pemilik Cafe Ini Harus Rumahkan Karyawan Hingga Batasi Jam Buka - BeritaManado.com

Andre Wang

Bitung, Beritamanado.com – Nombok lagi, itulah kalimat yang keluar dari mulut Andre Wang usai jarinya mengutak-atik aplikasi kalkulator di ponsel pintar yang diletakkan di meja kasir.

Sambil meneguk kopi dari gelasya, pemilik Wang Caffee ini melirik ke deretan angka-angka tertera di layar ponselnya yang menunjukkan minus alias pemasukan tidak sebanding dengan biaya operasional.

Andre mengaku, usaha cafe yang diguluti kini mulai “dihajar” wabah virus corona atau covid-19 seperti usaha-usaha lainnya di Kota Bitung.

“Dari bulan Maret saya sudah nombok, namun dampak covid-19 sudah mulai saya rasakan akhir bulan Februari tapi masih belum seberapa. Tapi begitu masuk bulan Maret hingga kini, dampaknya ya nombok setiap bulan,” kata Andre ketika mengobrol dengan sejumlah Wartawan di Wang Caffee, Kamis (30/04/2020).

Akibatnya, kebijakan pahit seperti merumahkan karyawan harus diambilnya. Dari delapan karyawan, kini dirinya hanya mempekerjakan tiga orang saja itupun hanya bekerja dari pukul 10.00 Wita hingga Pukul 20.00 Wita.

“Saya juga terpaksa tidak buka hari Minggu padahal dulunya buka setiap hari dan jam operasional kadang tidak sampai pukul 20.00 Wita sudah tutup. Tergantung pengunjung,” katanya.

Soal omset dan pengunjung, pecinta kopi hitam ini mengaku harus kehilangan 70% akibat wabah covid-19.

“30% sisanya masih tertolong dengan pesanan online serta teman-teman Wartawan yang masih tetap rutin nongkrong disini setiap hari,” katanya sambil tertawa.

Namun omset 30% itu kata dia, tidak mampu menutupi biaya sewa tempat, gaji karyawan, listrik, air dan internet hingga harus nombok.

“Saya tidak tahu akan mampu bertahan sampai kapan, intinya saat ini tetap survive dan berharap wabah ini cepat berlalu,” katanya.

Tetap Buka dan Terapkan Sosial Distancing

Wang Caffee yag berlokasi di jalan protokol Kecamatan Madidir adalah salah satu UKM yang tetap memilih beroperasi di tengah anjuran pemerintah menerapkan sosial distancing di Kota Bitung.

Andre mengaku, beberapa kali didatangi Satpol PP Pemkot Bitung dengan tujuan meminta dirinya mengikuti anjuran pemerintah yakni sosial distancing dengan menutup cafe.

Namun pria yang ramah ini menyatakan menolak. Dengan alasan pemerintah dalam hal ini Kementerian Koperasi dan UKM telah menerbitkan surat edaran yang memberikan pengecualian terhadap UKP di tengah wabah covid-19.

“Kementerian hanya meminta pemilik cafe menerapkan sosial distancing dan itu saya sudah patuhi dengan mengurangi meja dan tempat duduk serta menempel pamflet di setiap meja serta dinding,” katanya.

Bahkan dirinya mengaku sempat menantang, tempat usahanya siap tutup satu sampai tiga bulan full asalkan ada jaminan setelah buka wabah covid-19 sudah berakhir.

“Saya juga tutup mengikuti anjuran pemerintah tidak ada jaminan wabah ini akan segera berakhir. Lebih baik beroperasi dengan protap pencegahan agar roda perekonomian tetap jalan walaupun merugi setiap bulan,” katanya.

Pemkot Tak Peduli dengan UKM?

Ditanya soal perhatian pemerintah daerah (Pemda) terhadap UKM di tengah wabah covid-19, Andre hanya tersenyum kecut.

“Mau mengharap apa sama Pemda? Bantuan? Mereka saja (Pemda,red) saat ini kewalahan membantu warga yang terdampak itupun masih banyak yang mengeluh tidak dapat,” katanya.

Dirinya hanya berharap Pemda memberikan kelonggaran dan tetap mensuport UKM beroperasi setiap hari dengan menerapkan protap pencegahan covid-19 dengan ketat.

“Kalau memang Pemda peduli, harusnya proses pengadaan makan minum atau Mami untuk personil Satgas setiap hari melibatkan UKM-UKM agar kami tetap hidup,” katanya.

(abinenobm)

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