PPP Funds Nearly Exhausted

Nearly $200 billion of the $310 billion authorized for round two of the small business Paycheck Protection Program (PPP) has been exhausted. If your business is planning on applying for the PPP, you are encouraged to do so immediately, as the forgivable loans are allocated on a first-come, first-served basis.

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Cory Lunde

Calif. Governor Issues COVID-19 Workers’ Compensation Executive Order

Yesterday, Calif. Governor Gavin Newsom issued an Executive Order (EO) that extends temporary workers’ compensation benefits to essential workers who claim to contract COVID-19 at their place of employment (away from home).

The EO is retroactive to March 19, the day the statewide stay at home order was issued, and will be in place through July 5, 60 days from the date the EO was issued.

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Cory Lunde

Governor Newsom Announces Expansion of Farm to Family Program

On Wednesday, Calif. Governor Gavin Newsom announced a $15 million campaign to expand the Farm to Family Program, a partnership between CDFA and the California Association of Food Banks (CAFB) to facilitate food donations from farmers and ranchers by supporting food production, processing and distribution of the food supply chain.

To jumpstart the $15 million campaign, intended to run through the end of the year, the Governor unveiled $3.64 million in new funding, including $2.86 million from USDA and $775,000 committed by philanthropy.

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Cory Lunde

New PPP Rule Targets Aid for Seasonal Employers

Today, the Treasury Department published an interim final rule expanding the time frame seasonal employers can use to calculate maximum loan amounts under the small business Paycheck Protection Program.

Under the PPP, the size of the loan an employer is eligible for is tied to their average payroll. Initially, this was calculated using the average monthly payroll for the 12-week period beginning February 15, 2019, and ending June 30, 2019.

Some seasonal employers, however, have seasons that occur later in the year, such as farms that harvest in the summer.

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Cory Lunde

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