NJBIA - New Jersey Business & Industry Association
New Jersey Business & Industry Association
The 14-day priority window set aside exclusively for very small businesses seeking Paycheck Protection loans closed Tuesday, but these businesses can still submit applications to participating lenders before the program ends March 31. Although small business owners and the self-employed must now compete with larger companies for the same pot of funding, lenders say it […]
A two-week window allowing businesses with fewer than 20 employees exclusive access to the Paycheck Protection Program (PPP) began yesterday in a move that the Biden administration says will help ensure small businesses are not left out of the forgivable loan program. However, Banking Dive has interviewed one financial consultant who questioned whether the move is even necessary because the share of funds going to businesses with fewer than 10 […]
Good afternoon! My name is Christopher Emigholz, and I am the Vice President of Government Affairs for the New Jersey Business & Industry Association (NJBIA) covering tax, budget and economic development issues. On behalf of our member companies that provide 1 million jobs in our State and make NJBIA the largest statewide business association in […]
NJBIA testified on Thursday in support of two COVID-19 tax relief bills, including legislation that would make sure New Jersey businesses that received federal assistance under the Paycheck Protection Program (PPP) will not have to pay state income taxes on their loans, even if those loans are forgiven. In testimony before the Senate Budget & Appropriations Committee meeting, NJBIA Vice President of Government Affairs Christopher Emigholz pointed […]
Economic Aid Act for the Paycheck Protection Program (PPP) —Background— On Dec. 27, 2020, President Trump signed the Economic Aid Act into law which included $284 billion for the Paycheck Protection Program (PPP). The legislation made several revisions to the program including changing eligibility requirements, creating a process for Second Draw loans, and adding additional […]
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New Jersey Business & Industry Association
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