Can I apply for both SBA and CT Bridge Loan?
Yes, they were meant to work in tandem. However, due to overwhelming response, the State of CT Bridge Loan program is not accepting new applications at this time.
If I am self employed can I apply for unemployment?
Yes! It is a case by case situation, but please apply as the federal proposals will soon go into effect.
What banks are SBA lenders in Connecticut?
Do I have to apply for the SBA loan in order to access the grant?
Yes.
Can I apply for everything?
Yes, but you can not double dip. If you use SBA for payroll then you cannot access PPP and vice versa.
Can I roll SBA into PPP?
Yes.
Will more relief be coming?
Yes, but we don't know what yet.
If I am denied the SBA loan can I still keep the $10,000 loan advance/grant?
Yes.
The CARES Act excludes from the definition of payroll costs any employee compensation in excess of an annual salary of $100,000. Does that exclusion apply to all employee benefits of monetary value?
No. The exclusion of compensation in excess of $100,000 annually applies only to cash compensation, not to non-cash benefits, including: 1. employer contributions to defined-benefit or defined-contribution retirement plans; 2. payment for the provision of employee benefits consisting of group health care coverage, including insurance premiums; and 3. payment of state and local taxes assessed on compensation of employees.
