The Mayster Group

The long awaited reopening of the PPP is coming. I've heard from multiple sources the portal for those who did not receive a PPP loan, will open early next week. For those business who qualify for a second round of PPP funding the portal will open later in the week. Clink on the link below to learn more or to reserve your space in line for submission.

2021 is in full swing and while we are not out of the woods yet, we do know that the business environment has changed and a new year is a new opportunity for you and your business. Below questions to help you create a new vision for your business to thrive in the "new world" 1. Generating business looks very different than it has in the past, have you changed the way you market your company and your services? 2. Technology allows us to streamline process, better organize or d...ata and contact our clients and prospects more effectively. Are you working smarter? 3. Confidence is key for a successful business. With many working from home, having structure in place to oversee your employees is critical. Are you supporting your employees and empowering them to be successful? 4. Since customer interaction is very different now, understanding your client's needs is more important than ever. Are you speaking with your clients after the job to learn more about what went well and what didn't go as well? 5. "If you build it they will come." That may have been a strategy for success in the past, but with the current environment where people aren't leaving their homes, building something doesn't mean you'll be successful. Are you spending enough time to understanding your business, your Profit & Loss Statement and your Balance Sheet? The best thing about being an entrepreneur is that you get to write your own story. I hope these five questions above help you write .your success story, not a horror story!

PPP Update From The New Stimulus Package As you’ve heard by now, the President signed the new Stimulus Bill Sunday evening and we are now waiting for the new guidance to be issued including when the PPP will start accepting applications again. The SBA has 10 days of the enactment of the Act to release the updated regulations, so please be on the lookout for future emails from me. Below is a list of what we know so far,... 1. Employ no more than 300 employees or meet an alternative size standard. 2. Those who have not received PPP previously will be first in line when the program opens. 3. You must be able to show a loss of 25% or higher in 2020 over your 2019 revenue. 4. Section 501(c)(6) not-for-profit organizations will be eligible for the first time. 5. $15 billion for live venues, independent movie theaters and cultural institutions. 6. Borrowers that have NAICS Code 72 (typically restaurants and hotels) are permitted to use a 3.5x multiplier of their average monthly payroll costs to calculate their maximum loan amount, subject to the $2 million cap. 7. Congress expanded the types of expenses for which PPP loans can be used, which applies to existing PPP loans (except in the event forgiveness has already been obtained.) 8. $20 million for the Economic Injury Disaster Loan Program If you have questions or want to know more about your company's eligibility, please reach out to me by clicking the link below.

Details on the New Stimulus Bill passed by Congress.

$900 Billion Covid Relief Packages has finally cleared Congress and is on its way to the President's desk to be signed. The Package includes $284 billion to reinstate the PPP to give businesses much need relief Click the link below to schedule a consultation and get prepared for the PPP to open again soon.

Great news for people and small businesses tonight. Hopeful this stimulus agreement and the vaccines which amazingly keeping rolling out to millions of frontline works and at risk people are what we need to get this country back on its feet!

Isolation is a big problem for people and for businesses right now because of lockdowns in major cities all over the country. What's your biggest struggle with business right now that makes you feel alone?