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“All media shares one thing: Someone created it. And it was created for a reason. Understanding that reason is the basis of media literacy.”

— Common Sense Media

When you are self-employed with no employees, the Paycheck Protection Program (PPP) is a COVID-19 gift designed to help you get through this pandemic.

If you now have your PPP funds, we have identified the following insights for you.

1. New Law, Enacted June 5, 2020, Creates Easier PPP Loan Forgiveness

The murder of George Floyd is the most recent in a long line of injustices against the black community in our country. While reflecting on what our firm can do to help, we came upon something Bill Bradley said nearly 30 years ago on the Senate floor.

Do you find it puzzling when a bleak economic report emerges from the press, only to be accompanied by a positive surge in the stock market? You're not alone. The last few weeks have produced many examples of a stark contrast between stock market performance and economic indicators. So why the apparent disconnect?

COVID-19 has had an unprecedented impact on all aspects of American businesses, but perhaps none have been as severely affected as small business owners. Surviving this disaster will require more than just time: you will need to take a pragmatic view of what has happened and what steps you are willing and able to take in order to bounce back. Here are our suggestions:

“[T]he challenge for all investors is to consume the news without being consumed by it.” — Jason Zweig

In the face of the global pandemic and the subsequent economic crisis it has spurred, the federal government has taken several steps to protect small business owners. One of the most notable of these steps is the offering of Paycheck Protection Program (PPP) loans, which are being trumpeted as forgivable loans.

President Trump has signed the Paycheck Protection Program and Health Care Enhancement Act (PPP & HCE Act), a $484 billion package which was passed by both the Senate and the House the week of April 20, 2020.

PPP & The CARES Act

For years, experts have been saying that everyone - including average citizens - needs to have some type of emergency fund in place to help them get through any "rainy days" that may lie ahead.

With the impact of the COVID-19 crisis affecting people all over the country, the Internal Revenue Service and the Treasury Department have said that the monies promised to Americans will begin being distributed within the next three weeks, providing a lifeline to those whose financial lives have been upended by the pandemic.