Important Information about COVID-19
Updated July 12, 2021
Paycheck Protection Program
As of July 12, the Small Business Association (SBA) has officially informed lenders that it is eliminating the loan necessity review for PPP loans of $2 million or greater. What this means is SBA is no longer requesting either version of the Loan Necessity Questionnaire; SBA Form 3509 for for-profit borrowers and SBA Form 3510 for not-for-profit borrowers. In addition, Loan Necessity Questionnaires previously requested by the SBA are no longer required to be submitted.
MahoneySabol Company Updates
The majority of our employees continue to work remotely and our office spaces remain closed. We have business continuity plans in place that enable us to continue to provide a high level of service as our team works remotely. These plans include the use of various technologies, as we remain committed to delivering the service that you are accustomed to receiving.
If you need to drop off documents, please do so Monday-Friday between 9:00 AM and 3:00 PM. There is a box outside our front door and our receptionist will retrieve the file upon drop-off.
We draw on our 30 years of experience in helping our clients navigate through the most urgent and challenging situations. In a crisis, the foremost concerns must be personal health and safety of our clients and friends, our families, and our employees. Our firm exists to protect our clients’ businesses and help you manage through the most complex of challenges. During this period, we will be available to you as always via phone and email. Please do not hesitate to reach out.
Additional COVID-19 Resources
The IRS has issued a detailed Q & A in regards to tax payment and filing relief announced last week. The webpage is updated daily with the latest news and information about changes in tax filing deadlines, payment deadlines, eligibility, IRAs, and HSAs.
State of Connecticut
For up to date information and to ask general questions about COVID-19 in the state of Connecticut, go online or call 2-1-1 or text the word “COVID19” to 898211.
U.S. Small Business Administration (SBA)
The SBA’s Newsroom provides up-to-date information on SBA programs, services, and PPP loan changes.