The ESOP Association
The emotional toll that the COVID-19 pandemic is having on Americans is becoming increasingly and alarmingly clear. New information suggests that ESOP companies may want to train an especially keen eye on the well-being of their employee owners.
On May 15, 2020, the Small Business Administration (SBA) published a Loan Forgiveness Application that provides long awaited information regarding loan forgiveness under the Paycheck Protection Program (PPP). The PPP generally provides that borrowers are eligible for forgiveness of their PPP loans based upon certain qualifying expenses that arise during the eight-week period commencing on the date the loan was funded (which is known as the Covered Period).
New funding options may exist for businesses, thanks to a new bill from the House and several potential modifications to existing federal relief programs.
Companies that received PPP funds now have an extra week to decide if they should give them back.
An agreement between Wilmington Trust and the DOL pays funds to ESOPs and includes costs for penalties and legal fees.
In this special 24-page issue get ideas on managing in a crisis, help planning for the reopening of your workplace, news of TEA’s expanding advocacy efforts and member benefits, updates on new webinars, and more!
Enabling employees to earn and hold a stake in the company where they work has been a central element of the American economy for more than 200 years.
Employee Ownership Basics
Employee owned businesses are 6.2 times more likely to keep employees on the job that conventionally owned companies. Fewer layoffs from employee owned businesses translates into incredible financial security for individuals and savings of billions of dollars for the federal government.
ESOP Report, Legal Update, Ownership Advantage, Foundation, EOF, Valuation, Resource
A new era begins for Employee Ownership Foundation fundraising.
ESOP Report, Legal Update, Resource
Deadlines loom for AACE and EOM Poster competitions debug.