Blank Slate Media will host a discussion, sponsored by Northwell Health, on the new round of the Paycheck Protection Program on Jan. 26 at 1 p.m.
As part of a series of panels on crucial community issues moderated by Blank Slate Media founder and editor Steven Blank, Asset Enhancement Solutions LLC President Neil Seiden will field questions and comments from a virtual audience.
Founded by Seiden in 2003, Asset Enhancement Solutions is a financial advisory firm that provides services in consulting and investment banking. The company has arranged more than $500 million in traditional and nontraditional financing. In 2020, the company helped 800 organizations apply for the first round of loans in the Paycheck Protection Program.
The second round of the Paycheck Protection Program was introduced in the second coronavirus relief package, along with $600 stimulus checks. Federal officials voted on replenishing the program with $284 billion, which is now focused on prioritizing small businesses with fewer than 300 employees that have seen at least a 25 percent decrease in their revenue.
Officials said the maximum loan amount is 2.5 times a business’ monthly payroll costs up to $2 million. Borrowers are required to spend at least 60 percent of the funds on payroll costs. The virtual discussion will go more in-depth on the program’s rules, requirements and eligibility along with the differences between the first and second draw loans and what documentation and information is needed to apply.
Virtual participants can register for the event by visiting Blank Slate Media’s website, islandnow.net, or tune in directly via Zoom on Jan. 26 at 1 p.m. at the link: https://us02web.zoom.us/j/87373608431.
