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> the SBA was used as it was the fastest way to get cash out the door. Many non-savvy small businesses missed out in part due to lack of accounting help and la
by landemva 4y ago
> the SBA was used as it was the fastest way to get cash out the door.
Many non-savvy small businesses missed out in part due to lack of accounting help and lack of banking relationships for the application papers.
If this was to keep employees working, then the fastest way would be to credit the employer payroll tax federal withholding back to the employer after the employer sent it to the Feds. That is an existing channel and would be based on verified employee pay withholding.
- gumby 4y agoThe could have even credited back more than the withholding (i.e enough to cover the wages). But not sure that would work: company might not have the cash flow to float the payroll, and perhaps it would have invited a different fraud? There weren’t a lot of tools and time was short. Would be worth thinking through for next time though. And let’s hope there isnt a next time.