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Published on April 21st, 2020 | by OAAA

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OAAA Webinar: More Stimulus Help is Likely on the Way

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Congress could approve more stimulus help for small businesses. Out of home companies who are waiting on the sidelines should apply, OAAA webinar panelists said.

Quick re-cap:

  • The Senate and then the House are prepared to vote later this week on more help for small businesses.
  • The popular Paycheck Protection Program (PPP) was exhausted by April 16 (it started April 3).
  • OAAA is pushing for more stimulus help.
  • Congress is likely to approve an additional $300 billion for small-business’ Paycheck Protection fund.

On April 20, OAAA hosted a webinar to share advice/tips on getting the federal government’s small-business assistance:

  • Jeff Birnbaum of the lobbying/public relations firm BGR Group said new small-business funding could be approved this week.
  • Paul Cook of Wolverine Sign Works in Michigan and Ken Wingate of Wingate Outdoor in Arkansas said they worked with their bankers to apply successfully for Paycheck Protection funds.

          

  • They urged their peers to apply.
  • Some out of home companies have been frustrated with their bank and by delays.
  • Business attorney Allyson Baker of the Venable law firm explained:
    • How PPP loans can be forgiven
    • What payroll information is needed for PPP applications
    • How equity partnerships are treated
    • The significance of employee compensation that exceeds $100,000-a-year

Click here for a recording of the April 20 OAAA webinar.

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