The directive from SEC staff explains that “If the circumstances leading [an advisory firm] to seek a PPP loan…constitute material facts relating to your advisory relationship with clients,” then they should be disclosed. The SEC provided two examples of such material facts:
COVID-19 Action Center
As we work together to ensure the American people feel safe and secure during this novel time, AALUGAMA is here to provide guidance and resources to our members and the entire financial security profession. We are a community that all are facing similar hurdles and we are providing the most comprehensive, up-to-date news and information in order for you to continue serving your clients and supporting your business.
Just over eight months ago, an emerging field of Democratic presidential candidates joined thousands of midwesterners for selfies, speeches, and fried food on a stick at the Iowa State Fair in Des Moines. According to Gallup at the time, Americans viewed the government (22%) and immigration (18%) as the most important problems facing the nation, while only 3% mentioned the economy as a major issue.
The phrase “Necessity is the mother of invention” rings true with the spread of the coronavirus (COVID-19). Many around the world have been forced to rethink their daily lives – from work, to school, and even the life insurance underwriting process. In this webinar, Gonzalo Garcia of AgencyONE hosts a moderated discussion between Dave Dorans of Clareto, Neal Halder of Principal Financial Group, and Nichole Myers of Swiss Re. These experts speak to the underwriting changes they are experiencing due to the pandemic, and how one can succeed in this new reality.
You can use the loan to pay for a variety of operational expenses, including payroll, rent, mortgage, debt, or insurance. However, in order to have your PPP loan forgiven, you will need to spend the funds primarily on payroll (75%+ of the forgiven amount).
In this webinar, David Byers of Capital Strategies Group, Inc. and Jonathan Forster of BakerHostetler share transferable business ideas for the marketplace on how they are helping their clients navigate planning and market volatility, now and for the future.
What is The Paycheck Protection Program and How do I Calculate My Loan Amount?
With nearly the entire nation staying home, focus has been turned more than ever to our computers, social media, and other online communications. Advocacy efforts have historically focused on in-person meetings and events to drive education and support lawmakers. However, tactics have to shift drastically to meet the advocacy needs of the coronavirus era. Although many aspects of normal life have changed, the need for your voice in reaching your lawmakers has not.
Depending on the needs of your small business, you may want to combine different programs to obtain the maximum benefit. Use the chart below to help you understand which combinations are permissible.
This is a members-only, AALU/GAMA opportunity for a behind-the-scenes look at the creation of the CARES Act, featuring Congressman Ron Estes (R-KS). Hear Rep. Estes’ predictions on what to expect now that additional funding has been approved. Congressman Estes serves on the Ways and Means Committee and is working to keep people employed and small businesses open. Learn more about the future of funding for the Paycheck Protection Program and other policy issues shaping the economy, now and in the future.
Please continue to visit the AALU/GAMA COVID-19 Action Center for the latest updates on what’s happening in Washington and how it impacts you. Send us your feedback, ideas, and stories about your business or how you’re helping your clients during this time.