GNO Inc Update - June 17, 2020

News

· Paycheck Protection Program (PPP) EZ Forgiveness Application Released -  The SBA has released revised, simpler Paycheck Protection Program (PPP) loan forgiveness applications for borrowers. Those eligible to use the new three-page EZ application are borrowers who:

           o Are self-employed or have no employees
           o Did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number of hours of their employees OR
           o Experienced reductions in business activity as a result of COVID-19 related health directives, and did not reduce the salaries or wages of their employees by more than 25%
 

You can view the three-page loan forgiveness form here. The SBA also released a shorter version of the full forgiveness application, which can be viewed here. As of last week, nearly $130 billion remained available in the program. The deadline for PPP loans tobe approved remains June 30.

· Louisiana Universities Refunding $24 Million to Students – Louisiana universities and colleges statewide are refunding at least $24 million to students because of the disruptions caused by the onset of the coronavirus. Most of the funds are from housing and meal plans. You can read more here.

Information & Resources

• Coronavirus Supplies – If you are looking for PPE, sanitizer, food providers, and other related products and services, search the GNOpivot Marketplace.
• Coronavirus Customers – If you have pivoted your business to make a new, coronavirus-related product, register on GNOpivot.
• Work – If you want a job in a sector that is surging right now, new openings are on WorkNOLA.com.
• Employees –A database of local talent looking for new job opportunities, including quick employment history and skills summary, is on the WorkNOLA Talent Directory. GNOmatch provides custom connections between companies with lay-offs, and those hiring for transferable skills.
• General Information – A range of guides and materials are catalogued on the GNO, Inc. Coronavirus Business Resource Page.

Webinars:

• Register for the “Restarting Your Business: PPP Compliance” webinar, TODAY, June 18th at 2pm, hosted by the Small Business Development Center at Southeastern Louisiana University. 
• CLICK Here to register for the “Restarting Your Business: PPP Compliance”

• Register for the “How to Calculate PPP Loan Forgiveness” webinar this Friday, June 19th at 2pm, hosted by the Small Business Development Center at Southeastern Louisiana University. 
• CLICK Here to register for the “How to Calculate PPP Loan Forgiveness”.

Please feel free to contact me or GNO, Inc. President & CEO Michael Hecht at mhecht@gnoinc.org with any questions or suggestions.

Thanks,
Ileana Ledet