NEW YORK, June 21, 2021 (GLOBE NEWSWIRE) – Biz2Credit, Paychex, Inc. and CPA.com announced today that they will co-host an online forum featuring U.S. Senator Jeanne Shaheen (D-NH) , one of the US Senate’s mainstream small business owners.
The Paycheque Protection Program – A Look Back and The Way Forward with Jeanne Shaheen The roundtable will include time for the Senator to answer questions from the audience of business owners, including many who have received government-backed funding through the P3 and are now asking for a loan forgiveness.
How vital was PPP to the survival of small businesses? According to Melinda Kaye, owner of tekHouse, a computer consulting company based in Tulsa, Oklahoma, the program has been a lifeline.
“After applying for funds, it took us about 3-4 weeks to get approval and funding. The loan cancellation took about 4 to 5 months, ”Kaye said. “PPP funding saved me. There is no doubt about it. “
The second round of the PPP, which closed on May 28, was a success for millions of small businesses across the country. In total, roughly $ 800 billion has been distributed to small businesses in America through nearly 12 million loans, reaching nearly every community across the country, from New Hampshire to Hawaii and everywhere in between.
This online forum will give business owners the opportunity to hear Senator Shaheen, co-author of the PPP, explain how the federal government and the private sector have partnered to support business owners during the pandemic of COVID-19. She and her fellow sponsoring company panelists will discuss how and why the PPP has been successful in providing a financial lifeline to small businesses that have been negatively affected by the closures and reduced economic activity caused by COVID. -19.
To subscribe to the online forum at Wednesday 23 June, at 11:30 a.m. (EDT) / 8:30 a.m. (PDT), visit the Biz2Credit COVID-19 Webcast Center.
Key topics will include:
- Understand Congress’ approach to authorizing P3s and the results small businesses are now seeing.
- Find out about upcoming initiatives the federal government is considering to provide additional support to small business owners.
- Learn from the American Institute of CPAs (AICPA) the vital role CPAs and accounting firms have played in the success of P3s thus far.
- Hear the latest data from Paychex | IHS Markit Small Business Employment Watch, an indicator of the resilience of small businesses during COVID-19.
- Get ready for the sequel with Biz2Credit’s presentation on the future of corporate finance following the Paycheck Protection Program.
- Question and answer session with Senator Shaheen, who will answer questions from business owners.
“We are honored that Senator Jeanne Shaheen is attending our event and speaking to business owners who are still trying to recover from the huge disruption COVID-19 has had on their businesses,” said Rohit Arora, CEO of Biz2Credit, who organized the event. . “This online forum offers information that will help small business owners better overcome the lingering economic challenges caused by the pandemic. “
Panelists will discuss the recovery process from the devastating economic impact of COVID-19 on small businesses, especially those owned by women and minorities.
- Senator Jeanne Shaheen is the first woman in American history to be elected both governor and senator. She is a trailblazer with a reputation for working across the aisle to get things done and is known for her thoughtful leadership, hard work and dedication to improving the lives of the middle class. She has served in Washington since 2009 and is a member of the Senate Committee on Small Business and Entrepreneurship and other important committees. Senator Shaheen will speak about government-backed programs for corporate relief in the COVID-19 pandemic and the work she and her colleagues are doing on behalf of American small businesses.
- Erik Asgeirsson, President and CEO of CPA.com, the business and technology arm of the American Institute of CPAs (AICPA), will discuss AICPA’s work in building a coalition to support PPP implementation and the role CPAs played in advising small business owners during this critical time. He will also speak about the ongoing efforts of the AICPA coalition to help create a common approach to the PPP loan cancellation process, including the development of tools to automate and simplify the steps applicants must take. Erik will be joined by Michelle McVetty, CPA, partner at Cohos Advisors PLLC, based in Lancaster, NH and a member of both AICPA and the New Hampshire Society of CPA. She has helped many small businesses get PPP loans and now advises them through the forgiveness process.
- Franck Fiorille, Vice President of Risk, Compliance and Data Analytics at Paychex, to Discuss Ideas from the Company’s 680,000 Small and Medium Business Customers and Share Paychex Data | IHS Markit Small Business Employment Watch, an indicator of the resilience of small businesses during COVID-19. It will also detail how Paychex has supported businesses throughout the pandemic with tools, resources, and advice to navigate stimulus programs, HR challenges, and more. The stimulus support provided has helped Paychex clients maximize more than $ 65 billion in PPP loans and $ 2.5 billion in employee retention credits and paid sick leave.
- Rohit Arora, CEO of Biz2Credit, will detail proprietary data from Biz2Credit’s Small Business Cash Flow Report, which examined the effects of PPP on small business performance during the COVID-19 pandemic. He will also talk about the status of PPP loan cancellation and the important role SBA-approved FinTech companies have played in the success of the Paycheck Protection Program. Rohit will be joined by Steven Pawlyk, owner of Innovative Performance Productions, a music organization based in Windham, NH.
Founded in 2007, Biz2Credit has helped organize over $ 7 billion in financing for small businesses. Through its SBA-approved financing subsidiary, Biz2Credit ranked among the most active PPP providers in 2021, securing more than 170,000 PPP loans for small businesses. The company is extending its cutting-edge technology by providing the Biz2X Platform (www.biz2x.com) digital lending solution to banks and other financial institutions. Visit www.biz2credit.com or Twitter @ Biz2Credit, Facebook and LinkedIn to learn more.
CPA.com brings innovative solutions to the accounting profession, either in partnership with leading service providers, or directly through its own development. The company has established itself as a thought leader in emerging technologies and as a trusted business advisor to practitioners in the United States with a growing global focus. Our company’s primary mission is to drive the transformation of practice areas, advance the profession’s technological ecosystem, and lead technological research and innovation efforts for practitioners. A subsidiary of the American Institute of CPAs, CPA.com is also part of the Association of International Certified Professional Accountants, the world’s most influential organization representing the profession.
Paychex, Inc. (NASDAQ: PAYX) is a leading provider of integrated human capital management solutions for human resources, payroll, benefits and insurance services. By combining its innovative software as a service technology and mobility platform with personalized and dedicated service, Paychex enables small and medium business owners to focus on growing and managing their business. With over 45 years of industry expertise, Paychex serves approximately 680,000 salaried customers as of May 31, 2020, in over 100 locations in the US and Europe, and pays one in 12 US private sector employees. Visit paychex .com and stay connected on Twitter and LinkedIn.
Media contact: John Mooney, (908) 720-6057, email@example.com