Friday Five Business Briefing – June 5, 2020

In a constantly changing business environment, here’s news you can use, including clarification on PPP loan forgiveness, tax credits for keeping employees on payroll and nine ways to keep employee morale up during this tough time.

1. Clarity on PPP loan forgiveness — The SBA released calculation methods, definitions of forgivable expenses, and the documentation you need to provide when requesting forgiveness. Get the specifics. Check out the Consumers PPP loan forgiveness page, too.
2. $5K Tax Credit for Keeping Employees on Payroll — The CARES act includes the employee retention tax credit for businesses that have been hurt by the COVID-19 crisis but continued to keep employees on the the payroll. See who’s eligible.

3. Looking to terminate your lease? Exit rights negotiated when you signed your lease may give you the option to walk away. Forbes advises business owners to exercise this option with care. Discover more.

4. Consumer confidences inches upward — The University of Michigan’s Consumer Sentiment index improved slightly in early May. Federal relief checks, low interest rates and widespread discounts boosted attitudes, but personal financial prospects for the year ahead continued to weaken. See the report.

5. Ways to keep morale up — Anxiety, worry and depression spurred by lockdowns are real. Business and HR leaders who proactively attend to employees’ morale are also attending their health. Get nine proven ideas to share with your team to boost their spirits.

Thank you to our Friday Five sources: Entrepreneur, Kiplinger, the University of Michigan and The HR Director. Do you have business banking questions? Contact our knowledgeable business development managers or call 800-991-2221. During the coronavirus confinement, we’re available online, by phone and by appointment at select offices equipped to maximize safety. Federally insured by NCUA

In a constantly changing business environment, here’s news you can use, including clarification on PPP loan forgiveness, tax credits for keeping employees on payroll and nine ways to keep employee morale up during this tough time.

1. Clarity on PPP loan forgiveness — The SBA released calculation methods, definitions of forgivable expenses, and the documentation you need to provide when requesting forgiveness. Get the specifics. Check out the Consumers PPP loan forgiveness page, too.
2. $5K Tax Credit for Keeping Employees on Payroll — The CARES act includes the employee retention tax credit for businesses that have been hurt by the COVID-19 crisis but continued to keep employees on the the payroll. See who’s eligible.

3. Looking to terminate your lease? Exit rights negotiated when you signed your lease may give you the option to walk away. Forbes advises business owners to exercise this option with care. Discover more.

4. Consumer confidences inches upward — The University of Michigan’s Consumer Sentiment index improved slightly in early May. Federal relief checks, low interest rates and widespread discounts boosted attitudes, but personal financial prospects for the year ahead continued to weaken. See the report.

5. Ways to keep morale up — Anxiety, worry and depression spurred by lockdowns are real. Business and HR leaders who proactively attend to employees’ morale are also attending their health. Get nine proven ideas to share with your team to boost their spirits.

Thank you to our Friday Five sources: Entrepreneur, Kiplinger, the University of Michigan and The HR Director.

Do you have business banking questions? Contact our knowledgeable business development managers or call 800-991-2221. During the coronavirus confinement, we’re available online, by phone and by appointment at select offices equipped to maximize safety.

Federally insured by NCUA

Friday Five Business Briefing – June 5, 2020

In a constantly changing business environment, here’s news you can use, including clarification on PPP loan forgiveness, tax credits for keeping employees on payroll and nine ways to keep employee morale up during this tough time.

1. Clarity on PPP loan forgiveness — The SBA released calculation methods, definitions of forgivable expenses, and the documentation you need to provide when requesting forgiveness. Get the specifics. Check out the Consumers PPP loan forgiveness page, too.
2. $5K Tax Credit for Keeping Employees on Payroll — The CARES act includes the employee retention tax credit for businesses that have been hurt by the COVID-19 crisis but continued to keep employees on the the payroll. See who’s eligible.

3. Looking to terminate your lease? Exit rights negotiated when you signed your lease may give you the option to walk away. Forbes advises business owners to exercise this option with care. Discover more.

4. Consumer confidences inches upward — The University of Michigan’s Consumer Sentiment index improved slightly in early May. Federal relief checks, low interest rates and widespread discounts boosted attitudes, but personal financial prospects for the year ahead continued to weaken. See the report.

5. Ways to keep morale up — Anxiety, worry and depression spurred by lockdowns are real. Business and HR leaders who proactively attend to employees’ morale are also attending their health. Get nine proven ideas to share with your team to boost their spirits.

Thank you to our Friday Five sources: Entrepreneur, Kiplinger, the University of Michigan and The HR Director. Do you have business banking questions? Contact our knowledgeable business development managers or call 800-991-2221. During the coronavirus confinement, we’re available online, by phone and by appointment at select offices equipped to maximize safety. Federally insured by NCUA