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Need-to-knows about the Second PPP Loan Program by Tricia M. Taitt

Author: Tricia M. Taitt

Congress just passed a new COVID-19  “survival”stimulus package. Changes include the reopening of the $10,000 EIDL grant program and updates to the PPP loan program.

As a reminder, those eligible for the PPP include

  • New borrowers 
  • Businesses that exhausted their first PPP loans 
  • with less than 300 employees and;
  • that suffered a 25% or more reduction in gross revenue in one quarter in 2020 versus the same quarter in 2019

The second draw PPP loan program works similarly to the first round. Newly added policies include:

  • The max loan amount for most businesses at 2.5x the average monthly payroll cost for 2019 or over a trailing 12-month period 
  • The max loan amount for hospitality and food-service businesses at 3.5 x that average monthly payroll costs for 2019 over the past 12 months 
  • The list of expenses that qualify for loan forgiveness has expanded to include: operational expenses, supplier costs, PPE and worker protection costs and eligible payroll costs, including group insurance payments

The bottom line: 

  1. Move fast. Get your documents and calculations ready for when lenders make applications available. 
  2. Stay informed. But take some things with a grain of salt. There is a lot of false information out there. Rely on experts and your lender for updates.
  3. Keep an eye out. As of now expenses paid with PPP loan funds are tax-deductible and the PPP monies are nontaxable income. The IRS may push back against that.

Click here to get some guidance on loan forgiveness for the 1st round borrowers!

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About Tricia & The Art of Money Matters:

The Art of Money Matters is led by its President and Chief Financial Officer, Tricia Taitt, who has a strong track record of managing and improving the financial operations of growth-oriented, small to mid sized companies in both the for-profit and not-for-profit sectors.  Ms. Taitt is adept at helping senior leaders decode the numbers so that they can better understand their business and make strategic decisions more confidently.



Feature Friday with Kimberly Chu
January 8, 2021, 6:31 am
Filed under: Uncategorized | Tags: ,

Host: Sean C O’Rourke

“I’ve learned a lot from mentors who were instrumental in shaping me, and I want to share what I’ve learned.” Herbie Hancock

Quick personal story – when I was asked to be a mentor for the program we discuss in this episode, my first thought was: “Am I even qualified to be a mentor?”  After talking to my mentee for about 15 minutes, I knew this was going to be a great gig.  Not due to any superior knowledge on my part, but because the student was just looking for help and I was willing to do so.

Good mentors are guides through unknown landscapes.  They don’t always show us the way, but they can teach us how to find our path and navigate it successfully (or with minimal backtracking).  But how do you find a good mentor?  Well my next guest on Did You Know That? has some ideas.

Dr. Kimberly Chu is the Director of the Executives on Campus (EOC) program at Baruch College (NY, NY).  The program is designed to match undergrad and graduate students with mentors, who ideally work or have worked in the profession the student is pursuing.  Kimberly and her team have built a pioneering program and we talk about why it should be a model for institutions across the country.

You can learn more about Kimberly and EOC by visiting the links below.

LinkedIn: https://www.linkedin.com/in/chukimberly/

Website: https://blogs.baruch.cuny.edu/eoc/

Music: “A Big Adventure” by FASSounds via Artlist

#mentors #mentoring #barchcollege #payitforward #didyouknowthat #indulgeyourcuriosity #youtubechannel



Feature Friday with Traci Carnes

Host: Sean O’Rourke

Guest: Traci Carnes

Title: Are Your Confident In Your Cybersecurity?

Posting:

“The hacker didn’t succeed through sophistication. Rather he poked at obvious places, trying to enter through unlocked doors. Persistence, not wizardry, let him through.” Clifford Stoll, “The Cuckoo’s Egg: Tracking a Spy Through the Maze of Computer Espionage”

“The Cuckoo’s Egg” was published in 1989; I first read it in 1995.  You know what’s amazing/annoying/frustrating/unsurprising?  Not much has changed in the intervening 30+ years when it comes to hacking.  Sure, the systems and tools have gotten more sophisticated, but persistence and unlocked doors remain the key hallmarks of most hacks.

Cybersecurity, especially for small- and mid-sized businesses, remains a hazy priority that seems to fall down the to-do list every time a company runs out of coffee or snacks.  That’s just playing with gasoline and matches, and my next guest on Did You Know That? knows this firsthand.  Traci Carnes has worn many a technology hat in her career, so she’s seen cybersecurity from all sides.  Her thoughts and processes should inspire businesses to take a more proactive approach to minimizing the damage from a cyber event.  Remember, it’s not if but when you’ll experience one.

Want to learn more about Traci and her extensive background?  Check out her LinkedIn profile.

LinkedIn: https://www.linkedin.com/in/tracicarnes/

Music: “Broken Radios” by Stanley Gurvich via Artlist



Tenacious Tuesday with Deb Koenigsberger from Hearts of Gold!

Host: Colleen Blum

Guest: Deb Koenigsberger

The Golden Heart Tackling Homelessness in NYC

Have you ever donated to an organization because you REALLY believed in the mission behind what/ who they were helping? But have you actually ever wondered WHO was the person that started it? 

Who helped mold them? What happened in their life to make them to become this type of giving, selfless, incredible human? Where did it all start?

If you love a great story where there are just real feel good moments and you like to learn the behind the scenes of the special people who are making this world a better place to live, then keep listening, because today is just about that.

Today we sit down with my friend Deb Koenigsberger who is the Founder & CEO of, Hearts of Gold. This is a life changing organization all about helping homeless mothers & Children in NYC. Their mission is to help the moms gain the knowledge, skills, and confidence that they need to be able to transition out of the shelter system and become fully independent and productive members of society.

Checkout a short preview of the latest episode!

Check out behind the scenes photos on the @tryandstopmepodcast Instagram page

Guest: Deb Koensigberger

Founder & CEO of Hearts of Gold

Music: No Matter How Hard We Try – Ben Goldstein

Feeling – Aaron Kellim

Podcast is Available on All Podcast Listening Platforms.

“The Golden Heart Tackling Homelessness in NYC – Try And Stop Me Podcast.

CLICK HERE to listen to the full Podcast!



Feature Friday – Ramon Ray

Host: Sean C O’Rourke

Guest: Ramon Ray

“When things do not go your way, remember that every challenge — every adversity — contains within it the seeds of opportunity and growth.” Roy T. Bennett

If you like understatement, then saying 2020 has been (or was, depending on when you’re reading this) a challenging year should make the top of your list.  But among all that has gone wrong, that’s disrupted the norm, or been thrown into the unknown lies opportunity to come out the other end better, stronger, faster.  (Yes, that’s a callout to one of my all-time favorite shows.)

In the latest edition of Did You Know That?, the engaging Ramon Ray talks about how businesses – of all sizes – can identify and take advantage of even the slimmest of opportunity.  There are risks; it’s not for the faint of heart; but there are rewards to be had by you, your employees, and your customers/clients if you take a calculated leap.  This is not about running after anything that catches your eye; this about smartly identifying where your business can fill a new need and moving with purpose in that direction.

If this is your first experience listening to Ramon, then get your pen and paper or keyboard ready, because he’s going to throw a lot of information out there and you’ll want to digest it afterward (or give this multiple watches; your choice). 

You can also check out Ramon’s various works using the links or handles below:

Instagram: @ramonraysmarthustle

LinkedIn: https://www.linkedin.com/in/ramonraysmallbiz/

Check out Ramon’s website Smart Hustle or his speaking website HERE!

Music: “J.D. Scavenger” by Randy Sharp via Artlist



Feature Friday – Did You Know That?

Host: Sean C O’Rourke

Guest: Cory Allison

“Money, it’s a gas. Grab that cash with both hands and make a stash” Pink Floyd

You have a killer idea.  It appeals to a broad market.  And your strategy to bring it to life is rock solid.  All you need is a few more dollars than you have now to make it a reality.  What path should you choose?  Bootstrap?  Friends and family?  Angel?  Venture capital?  Family office?  Maybe even private equity?

How you fund a business may be just as important as what you’re selling.  Going it alone leaves all the decisions in your hands, but you’re gambling all your resources.  Taking money from others limits your own exposure, but now you have potential “partners” who may weigh in on crucial decisions or not agree with the ones you make.

Cory Allison is an experienced entrepreneur, especially in the startup world.  She’s also a partner in a fund that focuses on female-led businesses.  So she knows the funding game from both sides of the table.  Her insights on the topic may help guide you on your quest to launch the next unicorn.

You can discover much more about Cory at:

LinkedIn: https://www.linkedin.com/in/cory-allison-30a73025/

KelCor: https://www.kelcortape.com/

The JumpFund: https://www.thejumpfund.com/about

Music: “Having a Good Day – Instrumental” by Benj Heard via Artlist



Tenacious Tuesday – Newest Episode of the Try and Stop Me Podcast!

Host: Colleen Blum

Guest: Andy Neary

Mindset Lessons Learned On The Mound

Today, I am super pumped to bring you a fun, energetic, kickass business role model & overall JUST a good human Andy Neary.

Andy’s a former Professional Baseball Player. He’s now a Business Coach, Keynote Speaker & Founder of “the Complete Game”, coaching program.

Andy’s mission is to help business professionals build the mindset, habits, and rituals as he says “off the field” that lead to all-star performance on it. I’m obsessed with what he has going on today because it fits right into something I think we have all dealt with in our life at some point – a defeating mindset. Listen along as he teaches us how to flip the script into developing what he now calls #majorleaguemindset.

Watch a preview of the episode here!

Check out the full episode below!

Check him out at www.andyneary.com

Check out his podcast Bullpen Sessions

Follow us at @tryandstopmepodcast



Rockstars Rocking Podcast

Absolutely thrilled to be featured this week on Eric Silverman‘s Rockstars Rocking podcast!

Thank you so much Eric, for giving me a platform to share about my journey and my passion for the Mizzou Law Veterans Clinic at the University of Missouri!

Click below to watch the episode!

Want to see more episodes, make sure you CLICK HERE to subscribe!



Episode 6 – Try and Stop Me Podcast by Colleen Blum with Guest Mike Veny

Episode 6 Mental Health Is An Asset, So Let’s Talk About It

Host: Colleen Blum

Guest: Mike Veny

Mental Health is something society still struggles to talk about or address, the one good thing about COVID is that problem seems to be slowly changing.

Mike Veny is one of the Top Mental Health Speakers in the US talking about just that. Listen as he shares his story through his mental own health journey, how is mother helped him find an outlet and how he is using his mental health as an asset to help change lives all across the country.

Curious for a preview of the episode? Take a listen below!

To be able to listen or download the full episode, click below!

Guest Contact Information:

Mike Veny: LinkedIn

Website: https://www.mikeveny.com/

Author of: Transforming Stigma: How to Become a Mental Wellness Superhero

Podcast: MXV Self Employed Momentum

Follow us on the @tryandstopmepodcast Instagram page



Feature Friday – Did You Know That?

Host: Sean C O’Rourke

“Politics is not a game. It is an earnest business.” Winston Churchill

Politics.  Politician.  Want to cause a visceral reaction?  Just drop these words into any conversation and watch the fireworks blaze.  It begs the question – why would anyone want to get into this business?

Well, for those who do, there’s a gauntlet you have to run just to get in front of your welcoming electorate.  The cynic looks at these hurdles as a way for incumbents to stay in power; the optimist looks at the process as a way of pre-validating a candidate.  Either way, it’s no simple matter to find your way onto a ballot and then finance a campaign.

My next guest on Did You Know That? is Rachel Harding, an election/campaign finance law attorney who specializes in New York state.  Rachel knows the ins and outs, tricks and tricksters, and the obstacles a potential candidate must navigate to get on and remain on a New York ballot.  She also knows how much money a candidate can accept and from whom and how often.  Essentially, if you want to run for office in New York, call Rachel first.

In an election year unlike any in recent history, who better than Rachel to discuss how ballots are “made” in New York?

To learn more about Rachel, check out her LinkedIn profile HERE

Be sure to do your civic duty and vote, even if it’s for none of the above.

Music: Big City Lights by Ikoliks via Artlist