Recent Blog Posts
COVID-19 and the Paycheck Protection Program
For those of you who applied for and got a Paycheck Protection Program Loan, remember that the SBA requires at a minimum:
- The money from the loan must be used within 8 weeks of being deposited into your account;
- You cannot spend more than 25% of the money on costs other than payroll;
- You must ask for the loan to be “forgiven”;
- If the loan isn’t forgiven, you must repay it within 2 years.
Any questions you have about your PPP Loan, contact us directly at 815-730-1977. We are here to help!
Families First Coronavirus Response Act & Small Business Exemptions
In order to take advantage of the FFCRA Small Business exemption, an employer with fewer than 50 employees is exempt from providing: (a) paid sick leave due to school or place of care closures or child care provider unavailability for COVID-19 related reasons and (b) expanded family and medical leave due to school or place of care closures or child care provider unavailability for COVID-19 related reasons when doing so would jeopardize the viability of the small business as a going concern. A small business may claim this exemption if an authorized officer of the business has determined that:
- The provision of paid sick leave or expanded family and medical leave would result in the small business’s expenses and financial obligations exceeding available business revenues and cause the small business to cease operating at a minimal capacity;
- The absence of the employee or employees requesting paid sick leave or expanded family and medical leave would entail a substantial risk to the financial health or operational capabilities of the small business because of their specialized skills, knowledge of the business, or responsibilities; or
Know Your Rights as an Essential Worker
During the ongoing COVID-19 epidemic, Essential Workers are on the front line and are being exposed to COVID-19 daily. Should you or a loved one be diagnosed with the virus, you may be entitled to benefits under the Illinois Workers’ Compensation Act. These benefits include payment of hospital expenses and medical care, payment of 2/3 of your lost wages and a recovery if your exposure to the virus results in ongoing medical conditions or permanent injuries. Essential Workers include any worker who has been required to continue working during the pandemic including, but not limited to, police officers, firefighters, medical personnel, restaurant workers, retail workers and factory workers. For a free consultation of your rights please contact RCK at 815-730-1977.
Authored by Attorneys Luis J. Magana and Nickolas M. Jerde
Results listed are not a guarantee or indication of future case results.
3260 Executive Drive, Joliet, IL 60431
815-730-1977
