Blog

Schiff Dental Clients Update as of Monday, April 27, 2020 @ 8:45 PM EST

Dear Schiff Dental Clients

Good evening!

I hope each of you are well and safe!

We are here for you!

####################

US Treasury Guidance

We were anticipating guidance from the US Treasury today, but as I am writing this as of 8:45 PM on Monday, April 27, 2020, we have not received any notifications as to when the guidance will be released. So, we are on “stand by”! If you have received your PPP Funds, please hold them and place them into a separate checking account awaiting our guidance.

PPP Funds – what is the Notification process ?

It is our understanding, the SBA will call your Cell Phone to inform you, you were approved for the PPP Forgiveness Loan. At that time, they will text you a “special code” to confirm your identity. Once confirmed, the funds will be placed into your account and you have 24 hours to executed the PPP Loan Documents.

EIDL Grants / EIDL Loans ?

With the new Stimulus funding, it is our understanding there was an additional $60B placed in the SBA EIDL Funds, to help fund those of you that have yet to obtain a EIDL Gant and / or EIDL Loan. Fingers crossed, you will contacted in the near future.

ADA Update

I am currently working with the ADA with the hopes of getting a “Income Tax Credit” for the investment you will have to make in the future for the new PPE Requirements. As you know, a Tax Credit is better than a Tax Deduction!

I am also asking the ADA to include in their letter to Congress, to include the use of the PPP Loan Funds for the cost of equipment and improvements to the facility to qualify for PPP Loan Disbursements.

The above is in process and had not been confirmed as of the date of this writing.

####################

We are here for you!

Please stay well!

My best

Allen

Schiff Dental Clients Update – Friday, April 24, 2020 4:30 PM

Dear Schiff Dental Clients

Good Afternoon to all!

I hope each of you are well and safe along with your families

We are here for you!

 ###################

Here is the Schiff Dental Clients Update – Friday, April 24, 2020 4:30 PM

Paycheck Protection Program (PPP) and Health Care Enhancement Act

President Trump has signed into law the Paycheck Protection Program and Health Care Enhancement Act at 12:30 PM EST today, Friday, April 24, 2020.

PPP Loan Application – update

The Small Business Administration (SBA) has announced today, they will resume accepting PPP loan applications on Monday, April 27 at 10:30AM EST from approved lenders. Please make sure your PPP Loan Applications are set up for “E-Tran” with your respective SBA Lender. The speculation for this delay is , there is hope that larger Corporations that received $10M (+/-), will return those funds to the SBA for redistribution to small business America.

If your Lender is NOT accepting applications, please consider a smaller lender in your market area.

Just a heads up – the speculation out there, is that these PPP funds will run out in 24 hours, not in days like last time (April 3, 2020).  There are that many pent-up PPP applications that are awaiting SBA approval. Time is of the essence! Please prepare your PPP Loan Application this weekend, if you have not done so.

Maryland Unemployment – update – Self Employed 

This morning at 7 AM EST, the Maryland Unemployment Division launched their new web site for the Self Employed. The web site went down , due to the fact there were 35,000 folks on the web site at one time. My suggestion is to apply after dinner tonight when the usage is less and hopefully access will be granted to you.

Here are the URL’s to consider using when applying for your Unemployment Benefits:

https://www.dllr.state.md.us/uim/employer/
https://secure-2.dllr.state.md.us/NetClaims/Welcome.aspx
https://beacon.labor.maryland.gov/beacon/claimant-page.html
https://beacon.labor.maryland.gov/ReBEACONClaimant/home/wfmRegister#/spa/wfmClaimantRegistrationWizard/0

##############

We are here for you!

Please stay well and enjoy the weekend!

My best

Allen

Schiff Dental Clients Update – Thursday, April 23, 2020 11:00 AM

Dear Schiff Dental Clients

Good Morning to all!

I hope each of you are well and safe along with your families

We are here for you!

###################

Here is the Schiff Dental Clients Update – Thursday, April 23, 2020 11:00 AM

PPP Loan Application Update

Please check in with your Lender to make sure all of your financial documents meet their lending guidelines and are ready for the funding , once this next STIMULUS is passed (hopefully later today). Please ask your Lender, if your documents are set up for “E-Tran”.

PPP Loan Forgiveness

I have built two (2) spreadsheets, that are geared to satisfying the 75% / 25% test within the PPP Loan Proceeds. One shows the payroll paid being paid over 8 weeks , and the other has the 8 weeks being paid all at once. As of today, we do not know what the US Treasury guidance will be on how we can spend these funds and be in accordance with the PPP Program. We will have to wait for further guidance on April 27th.

If I had to “guess”, my guess would be, the US Treasury will want us to take our employees “off of unemployment” and begin to pay them now, as we start the 8-week process. We will not know for sure, until Monday, April 27th. As a result, we are suggesting, you hold onto your PPP Loan Proceeds, place them in a separate checking account, and just wait until we gather for their guidance before we can counsel you.

Maryland Unemployment for the Self Employed

As you are aware, the Maryland “One Stop” web site will go live tomorrow, Friday, April 24, 2020. Today, the Maryland Unemployment Division issued additional guidance which can be found here

https://content.govdelivery.com/accounts/MDDLLR/bulletins/287febb
http://www.labor.maryland.gov/employment/uicovidcertfaqs.pdf

To file a State of Maryland Unemployment (Self Employment) claim, you will need to have the following information available, as applicable:

Social security number;

Date of birth;

Residential and mailing address;

Telephone number and email address;

Name, date of birth, and social security number of all dependents under 16 years of age that you will claim, as well the same information for each dependent’s other parent, such as the social security number and date of birth for any dependents that you claim;

If you worked for the federal government, you will also need a SF-8 or SF-50 form; and

If you are separated from military service, you will also need Form DD-214, member 4 copy.

To file your PUA claim, you will need to provide information and supporting documentation about your work and income history, which may include the following:

Documentation of the income that you earned in 2019 (Schedule K-1, Form 1099, or summary of quarterly payments); (You will need your IRS Form #1040 , Schedule C from 2019) < please contact your Schiff Team Member for these documents

All necessary licenses and permits for your self-employment; (You will need a copy of your Maryland Dental License)

Proof of an offer to begin employment that was postponed or withdrawn due to COVID-19

ADA Offers PPE Guidance to Dentists

As many of you know, our neighbors in Commonwealth of Virginia are about to go back to work. We are still unsure about other States that our clients are located in. The ADA has posted Guidance to Dentists as it relates to the PPE Requirement. It can be found here

https://www.ada.org/en/press-room/news-releases/2020-archives/april/postponement-statement?utm_source=cpsorg&utm_medium=cpsalertbar&utm_content=cv-postponement-statement&utm_campaign=covid-19

ADA – COVID-19 State Mandates and Recommendations

This is really a cool web page built by the ADA. If you type in your State where your practice is located, you will see regulations, recommendations and mandates regarding the safe practice of dentistry during the COVID-19 pandemic for your State

https://success.ada.org/en/practice-management/patients/covid-19-state-mandates-and-recommendations?utm_source=adaorg&utm_medium=covid-statement-200401&utm_content=stateaction&utm_campaign=covid-19&_ga=2.210030997.1038335142.1587600330-1150317135.1575809324

ADA – CDC Recommendations with respect to N95 Masks, KN95 Masks and Surgical Masks

Please visit this web site for CDC recommendations

https://success.ada.org/~/media/CPS/Files/COVID/ADA_Interim_Mask_and_Face_Shield_Guidelines.pdf?_ga=2.210030997.1038335142.1587600330-1150317135.1575809324

ADCPA PODCAST on PPP Loan Update (Sunday, April 19, 2020)

The Art of Dental Finance and Management Podcast

PPP Loan Update with Megan Mortimer, ADA Congressional Lobbyist and Allen M. Schiff, CPA, President of the ADCPA

Megan provides an update on how Congress is attempting to add funds to the PPP:

A timeline

What the ADA is doing to advocate for dentists in Washington D.C.

Valuable resources dentists can access through the ADA

Art, Megan and Allen also discuss:

Updates to the SBA regulations

Strategies dentists need to consider once they receive the money

How the money should be spent

How to account for the funds

How the government forgiveness works

I hope you enjoy the PODCAST and gain some insight by doing so!

###############

Please stay well and safe!

We are here for you!

My best

Allen

Schiff Dental Clients Update – Wednesday, April 22, 2020 8:15 AM

Dear Schiff Dental Clients

Good Morning to all!

I hope each of you are well and safe along with your families

We are here for you!

Here is the Schiff Dental Clients Update – Wednesday, April 22, 2020 8:00 AM

2nd major STIMULUS due this Thursday (tomorrow)

Yesterday, Republicans and Democrats in the US Senate agreed on an emergency program worth $484 billion to help small businesses, hospitals and boost coronavirus testing in the country. We are expecting the HOUSE to approve such STIMULUS tomorrow, Thursday, April 23, 2020.

PPP Loan Application Update

Many of you have already been notified by your SBA Lender, that you have been APPROVED for your PPP Loan. Congratulations!  However, many of you have NOT BEEN APPROVED.  It is our suggestion, that today, you contact your Lender, to make sure your PPP Loan Application along with supporting documentation is all set and ready to go, as soon as tomorrow, just in case your lender receives the funding to fund your PPP Loan. We expect the portion of the Stimulus set aside for the PPP Loans to go quick , like it did last time (April 3, 2020 through April 16, 2020)

PPP Loans – What is your Strategy?

Please hold your PPP Funds in a separate checking account for now. We are awaiting further guidance from the US Treasury on how these funds can be expended,. The guidance is expected to be released on April 27, 2020. Once we receive the guidance, we will be happy to meet with you, with hopes of maximizing your PPP Loan Forgiveness.

Maryland Dental Clients – Self Employed (Maryland Unemployment)

For those of you who are self employed and work in Maryland, you can file for Maryland Unemployment this Friday, April 24, 2020. We are expecting the Department of Labor to Launch its new web site, “One Stop Maryland” tomorrow.

Virginia Dental Clients

On April 15th Governor Northam ordered dental offices to postpone elective procedures until after April 24th. For further information, please click here>https://www.vadental.org/news-details/2020/04/15/covid-19-key-dates

EIDL Grants, EIDL Loans & PPP Loans

We are expecting additional EIDL Grants and EIDL Loans with this next Stimulus Package. It is estimated there is $60B set aside for the EIDL Program. So, we are hoping you will be notified by the SBA for your EIDL Grant and / or EIDL Loan, if you have not received thus far. In addition, please e mail your Schiff Team Member, the amount of your EIDL Grant, EIDL Loan and PPP Loan, the dates you were notified of each. We are tracking this information for all Schiff Clients, By doing so, we will have one master list that we can refer to. This list will help us manage your “8-week period”.

Please stay well and safe!

We are here for you!

My best

Allen

PPP Update with Megan Mortimer and Allen Schiff, CPA – The Art of Dental Finance and Management Podcast

21204 dental CPA

Informative weekly podcast for dental practices.

This week’s topic:
PPP Update with Megan Mortimer, ADA Congressional Lobbyist and Allen Schiff, CPA, ADCPA President

21204 dental CPA

Today, Art visits with two people who have been very instrumental in helping dentists across the country through the COVID-19 Pandemic:

  • Megan Mortimer, Congressional Lobbyist for the American Dental Association
  • Allen Schiff, President of the Academy of Dental CPAs

Megan provides an update on how Congress is attempting to add funds to the PPP:

  • A timeline
  • What the ADA is doing to advocate for dentists in Washington D.C
  • Valuable resources dentists can access through the ADA

Art, Megan and Allen also discuss:

  • Updates to the SBA regulations
  • Strategies dentists need to consider once they receive the money
  • How the money should be spent
  • How to account for the funds
  • How the government forgiveness works

This is a very informative, insightful, and timely episode to help dentists navigate these challenging times.

This podcast sponsored by:

Crosstex International, now a proud member of HuFriedyGroup, and a recognized leader for its portfolio of Personal Protection Equipment (PPE), Dental Unit Waterline Treatments, Chemistries, Sterilization, Preventives, Nitrous-Oxide Equipment, and Single-use Disposables products.

Listen Here!


Subscribe Today!

The best way to listen to podcasts is to subscribe. By subscribing, you will receive a notification when a new episode is available. New episodes will be published weekly and will be automatically downloaded to your mobile device or computer.

Apple Podcasts

Google Podcasts

CastBox

libsyn

ListenNotes

Podcasters Paradise

4top Podcast

PlayerFM

Spotify

Schiff Dental Clients Update – Sunday, April 19,2020 , 8:30 AM – Handouts for Clients – Schiff & Associates

Good Morning to all! I hope everyone is safe and well!

Happy Sunday to all!

We are here for you!

We have attached three (3) Handouts for your review

  1. EIDL & PPP Eligibility Guide – what expenses should you be paying with what Loans? Please keep in mind, these may change, once we received additional guidance. Please try to avoid paying Payroll with your EIDL Loan.
  2. PPP Loan Spending Guide – this is a decision tree we have created in conjunction with the ADCPA. This will give you an idea as to what you should be doing over the next 8 weeks, once you receive your PPP Loan Proceeds. Each of you have a different Agenda. Please reach out to your Schiff Team Member if you need help.
  3. PPP Loan Decision Tree- this is a decision tree, based on your PPP Loan, and whether you should use your PPP Loan Proceeds for what they were intended for, or just have a PPP Loan @ 1% (payable over 2 years) or consider the Employee Retention Tax Credit (RTC) in lieu of the PPP Loan. We can help explain the RTC, the Retention Tax Credit if that is of interest to you. It is our opinion, the PPP Loan will be a better deal for you in most cases.

Please keep in mind, this is our current understanding. We are still awaiting the US Treasury guidelines, which should be issued by April 27, 2020

Currents Stats on the PPP Loan Program

Please click on the hyper link below. You will see the amount of PPP Loans granted so far ( $342,277,999,103) an the number of PPP Loans granted (1,661,367) along with a State by State allocation of the PPP Loans. Also , please notice the other industries Dentistry is competing with (Construction, Professional, Manufacturing, Food Services and Retail, etc. etc.)

https://home.treasury.gov/system/files/136/SBA%20PPP%20Loan%20Report%20Deck.pdf

Pelosi: Lawmakers ‘very close’ on bipartisan agreement for additional PPP funding

We are hoping for those of you that did not receive your PPP Loan Proceeds as of this past Friday, this article should create some encouragement for you

https://thehill.com/homenews/house/493515-pelosi-lawmakers-very-close-on-bipartisan-agreement-for-additional-ppp-funding

Sole Proprietors – State of Maryland

This coming Friday, April 24, 2020, the State of Maryland will be launching its New Web Site for those of you that have not been able to file for Unemployment due to the fact you are a Sole Proprietor and the State of Maryland does not have any wages recorded for you. The New Web Site will be called “One Stop”.

We are here for you!

Stay well!

My best to all!

Allen


EIDL & PPP Expense Eligibility Guide – from Schiff & Associates
PPP Loan Spending Guide – from Schiff & Associates
PPP Loan Decision Tree – from Schiff & Associates

Academy of Dental CPAs | How An Accountant Can Solve Problems Through Creative Solutions

Al Capone was a notorious mobster and crime boss who committed countless crimes either himself or through his organization. However, the crime that finally got him caught and sent to prison wasn’t related to his gangster reputation. Ultimately, Capone was arrested and convicted for income tax evasion. The man who had a seven year reign as crime boss of Chicago ended up being taken down by a team of accountants.

While this story may not have much to do with dentistry, it is a testament to just how important accountants can be to any field. More than just the people who help you with your taxes, accountants are trained to understand businesses and create solutions that others may not think of. Here are just a few of the ways accountants can solve problems for your practice find success.

Understanding Dentistry:

While an accountant of any type may be able to be helpful to your practice, a dental CPA fully understands all the ins and outs of dentistry and is able to use that knowledge to help you. Dental accountants are uniquely qualified to assist you because they understand your issues in the larger context of dentistry and can examine an issue from every relevant angle. They know the business and therefore have a better grasp on will be the right solution for you.

Big Picture Thinking:

Accountants are known for their analytical minds. When it comes to solving a financial problem in your practice, a new perspective that considers all the widespread consequences may be exactly what your practice needs. This capacity for lateral thinking is one of the reasons why dental accountants are able to make such significant contributions to your practice success.

Creativity:

Difficult problems require creative solutions. While accountants aren’t always respected for their originality, you may be surprised to know that their line of work takes quite a bit more creative flexibility than most believe. Combining their knowledge of the dental field with the ability to bring a unique approach allows dental accountants to come up with innovative solutions that work to meet and exceed your practice’s financial goals. 

While it’s better to have an accountant before trouble arises, we are here to help you no matter your circumstances. If you’re facing a problem that requires a special touch, contact ADCPA of professional dental accountants today and find the solution for success you’ve been looking for.

Schiff Dental Clients Update, Thursday, April 16, 2020 at 12:30 PM

Good afternoon Schiff Dental Clients

I hope each of you are well!

We are here for you!

PPP Loans are now exhausted

At 12 Noon today, Thursday, April 16, 2020, we were just notified, the PPP Loan Funds have been exhausted, just like we predicted on Tuesday of this week!

Please click on this link, for further details >> https://www.cbsnews.com/news/small-business-relief-paycheck-protection-program-is-out-of-money/

Here is a e-mail we just rec’d from a large local bank>>

##################

Sent: Thursday, April 16, 2020 11:35 AM

To: All Employees

Subject: PPP Funding is Depleted – Updated Communications Coming Shortly

The Bank has been notified that the SBA is unable to accept any more applications for the PPP program based on available appropriations funding at this time – the money is depleted.   We will be sending updated communications shortly.  Until then, please do not draft your own responses to customers without prior review and approval from compliance and marketing.   Thank you for your patience as we work as quickly as possible to provide additional information and updates.

##########

Received this morning from >> Wall Street Journal Bloomberg Forbes

Paycheck Protection Program set to run out of cash

The Paycheck Protection Program has exhausted most of its initial allocation of $350bn, with the Small Business Administration reporting that as of late Wednesday, it had approved more than 1.5m loans valued at more than $324bn. “The fund being exhausted clearly puts pressure on Congress to act and come to a reasonable conclusion,” said Rep. Patrick McHenry of North Carolina, the top Republican on the House Financial Services Committee. “Every day that passes that we don’t fund this program, more pain is felt by small-business folks and their employees.” Both Democrats and Republicans want to add $250 billion to the small-business aid program, but have been sparring for days over whether to add restrictions to the funds. Democrats want to expand access to the loans as well as include more money for hospitals, food assistance and state and local governments. Republicans, meanwhile, said they want to keep the bill focused on increasing small-business aid and defer other funding debates until the next, broader legislation is crafted. A resolution could be reached this week, with both chambers of Congress set to hold brief sessions.

PPP Loan Update

As you are well aware, we are suggesting you hold onto your PPP Funds for now, and not disburse them , until we have further guidance from the US Treasury and the SBA. We are also waiting on NEWS from the ADA, with hopes that Congress will change their stance on , “when does the 8-week period begin?”. As soon as we hear anything of substance to report, we will get that info out to you!

Here are the highlights of the ADA Letter, dated April 15, 2020, sent to The Honorable Nancy Pelosi, The Honorable Kevin McCarthy, The Honorable Mitch McConnell and The Honorable Chuck Schumer

………………………. We strongly support the Congressional efforts underway to increase funding for the PPP loans, EIDL loans, and EIDL grants to the greatest extent possible. Additional funding for these loans will help ease the burdens many dental practices and other small businesses are facing as the pandemic continues without an end in sight. Crucial business decisions will need to be made in the coming weeks and without additional funding we fear a return to normalcy will not be possible for many.

We further urge Congress to help streamline the SBA loan application process as many dentists report having great difficulty in accessing available loans and grants. We also request that the decision to limit the EIDL grants to $1,000 per employee be rescinded, as this does not take into account differences in compensation and small businesses were not aware of this limit when applying.

We would also like you to consider allowing small business dental practices to choose the 8-week period for which they seek forgiveness for the loans and rehire back staff before December 31, 2020, instead of requiring them to rehire staff by June 30, 2020. This would allow these practices to make decisions about staffing and payroll based on when they plan to fully reopen. The Occupational Safety and Health Administration classifies dental health care personnel in the very high exposure risk category[1] and the ability to fully reopen dental practices is contingent on the ability to completely control the coronavirus pandemic in a relatively short period of time.

We would welcome the opportunity to speak with you in more detail and answer any questions you have regarding these comments. ………………..

We need to cross our fingers and toes, and hope that Congress hears the ADA and the 160,000+ Dentists across America!

Montgomery Maryland  “Grants” – Schiff Clients, please read below:

If your practice is located in Montgomery County, MD, this maybe of interest to you! Please click on the hyper link below:

https://www.montgomerycountymd.gov/Biz-Resources/pheg/

We are here for you!

My best to all

Stay well!

Allen

Schiff Dental Clients Update, Wednesday, April 15, 2020 12 Noon

Good Morning Schiff Dental Clients!

Happy Wednesday! I hope each of you are safe and well!

We are here for you!

Here is an update, as of Wednesday, April 15, 2020 12 Noon

EIDL Grants

Many of you, since Monday of this week, have started to receive your EIDL Grants. We will need to know if you received your EIDL Grant, what day you received it and to what amount. The reason for this is, the EIDL grant will impact the overall loan forgiveness of your PPP Loan. Please e-mail your Schiff Team Member, so we can track such information.

EIDL Grants – if you are a 1040 Schedule C Taxpayer with employees and / or a Partner in a Partnership IRS form #1065 Schedule K-1 with employees

If you meet one of these criteria, please be certain you are maximizing your EIDL Grant to the max of $10,000 per practice. If you have more than 10 employees, your maximum EIDL Grant will be limited to $10,000. However, if you have 6 employees PLUS yourself as a self employed individual, you should receive $7,000 and not $6,000. If this is the case, I am suggesting you call the SBA at 800-659-2955, and explain to them , you are also employed at the practice and as a self employed individual. Please be sure to have your Federal ID# available at the time of your call to the SBA.

EIDL Loans

Many of you are receiving your EIDL Loans from the SBA. What we would like you to do, is to set up a separate Checking Account with your Bank as well as set up a separate General Ledger Account within your QuickBooks / Peachtree file as well. The reason for this is, we will need to render an accounting to the SBA, to confirm you are spending of your EIDL Loan funds are in accordance with your Loan Agreement with the SBA. These funds are open to audit over the next three (3) years. Please do NOT use the EIDL Loan for Payroll. You can use the EIDL Loan for current accounts payable, current vendor bills like Dental Supplies, Lab Fees and other related overhead, etc.

PPP Loan Funds

Many of you are receiving your PPP Loans from your respective Bank. What we would like you to do, is to set up a separate Checking Account with your Bank as well as set up a separate General Ledger Account within your QuickBooks / Peachtree file as well. The reason for this is, we will need to render an accounting to the SBA and your Bank , to confirm you are spending of your PPP funds are in accordance with your Loan Agreement with your Bank. These funds are open to audit over the next three (3) years.

The current US Treasury regulation state, once the SBA approves your PPP Loan, the Bank must disburse the funds to you within 10 days. Once you receive the PPP Funds, you have “8-weeks” to spend them in accordance with the CARES ACT. We would like you to inform your Schiff Team Member when you receive your PPP Funds, so we can track them and also create a “Game Plan” for you in terms of spending in order to afford you , the maximum loan forgiveness. We will also need to know if you received your EIDL Grant (see above), what day you received it and to what amount. The reason for this is, the EIDL grant will impact the overall loan forgiveness of the PPP Loan.

*** PLEASE HOLD YOUR PPP LOAN PROCEEDS as of now, until we gain further guidance from the SBA, the US Treasury and the ADA. We are hoping the ADA will be successful with their lobbying, thereby creating a delay as to when we have to spend the PPP Loans. My fingers are crossed, hoping we can spend them when we all go back to work! I will confirm with you as soon as I hear. But for now, please HOLD YOUR PPP FUNDS and do not spend them.

Availability of PPP Loan Funds

Yesterday, we were informed from our sources within the ADA and the SBA, the PPP Loans will be fully funded by this Thursday, April 16, 2020. So, if you have already filed for your PPP Loan with your Bank, you should be in line to receive your allotted 2020 PPP funds!

Baltimore City ? – if your Practice is located in Baltimore City …please read on!

Today, the City of Baltimore announced a partnership with Goldman Sachs and Lendistry to provide $10 million in potentially forgivable SBA Paycheck Protection Program loans to help vulnerable Baltimore City small businesses, including non-profit organizations, weather the economic impact of COVID-19. This program is made possible through the federal government’s C.A.R.E.S. Act and Goldman Sachs’ Small Business Stimulus Package. This fund targets underserved businesses, including those which do not currently have a relationship with a traditional bank.

In partnership with Goldman Sachs, Lendistry, a Community Development Financial Institution (CDFI) and an SBA authorized PPP lender, will begin accepting applications immediately. To apply, click HERE.

http://www.mylendistry.com/login.html?utm_source=Survey&utm_campaign=0e2dad603a-EMAIL_CAMPAIGN_2020_04_14_05_47&utm_medium=email&utm_term=0_ebb6f80bcc-0e2dad603a-364451865

Lendistry also offers online technical assistance to applicants, including their PPP Resource Guide and Payroll Resource Guide, which can be easily found on their homepage.

Applicants should have the following documents on hand before applying:

  • 12 months of payroll documentation, including wages, health and retirement benefits and state taxes paid
  • Primary owner’s photo ID
  • 2019 Tax Return, or 2018 Tax Return & 2019 Year-End Financial Statement, or 2019 1099
  • Corporate Documents (varies by entity type: Articles of Inc., By Laws, Operating Agreement, Fictitious Business Name, Partnership Agreement)

Applicants can also contact Lendistry directly at 1.844.662.7297 or info@lendistry.com.

Baltimore Development Corporation

I hope you found the above informative. If you have any questions, please e -mail your team member at Schiff!

Please stay well!

We are here for you!

My best to all

Allen

Schiff Clients Update as of Tuesday , April 14, 2020 at 6:00 PM EST

Good afternoon Schiff Dental Clients
I hope each of you are doing well and are safe!
We are here for you!

Today, we were informed from our sources within the ADA and the SBA, the PPP Loans will be fully funded by this Thursday, April 16, 2020. So, if you have already filed for your PPP Loan with your Bank, you should be in line to receive your allotted 2020 PPP funds!

However, IF YOU HAVE NOT YET applied for your PPP Loan, I would suggest you start to gather the various documents ( see list below) tonight and submit them within your Banks Portal immediately. Many national consultants are suggesting you wait to apply for your PPP Loans. If I were you , I would not pay attention to this information and file for your PPP Loan BEFORE the designated funds run out .

Many Banks are requiring the following financial documents:

  1. Drivers License – front and back
  2. 2019 Employee W-2’s
  3. 2019 Health Insurance paid
  4. 2019 401k  / SIMPLE Match
  5. 2019 State Unemployment Taxes Paid
  6. Signed and Dated PPP Loan Application

Good luck! Please start the process ASAP…….We are here for you!
Stay well!
My best
Allen