The hospital group is pushing the Trump administration for ongoing federal assist with vaccine distribution

Seniors 65 years and older wait in line at the Sarasota Department of Health’s COVID-19 Vaccination Clinic in Sarasota, Florida, the United States, Jan. 4, 2021.

Octavio Jones | Reuters

The American Hospital Association on Thursday urged Health Secretary Alex Azar to provide more support and coordination for the federal distribution of Covid-19 vaccines. The slow rollout has raised questions about how quickly they can vaccinate the public.

The group, which represents nearly 5,000 hospitals and health systems across the country, said the rollout “raised concerns about whether the task of vaccinating everyone who is able to take the vaccine will come as soon as it can it was suggested by the federal leaders “. According to a letter sent Thursday to Azar, the secretary of the Ministry of Health and Human Services.

According to the Centers for Disease Control and Prevention, more than 17.2 million doses of vaccine had been distributed as of Wednesday, but in fact just over 5.3 million doses had been given. This is nowhere near the targets previously set by federal officials to vaccinate 20 million people in December.

Richard Pollack, CEO of the AHA, said in the letter to Azar that the vaccine’s slow initial rollout casts doubt on whether the country will be able to vaccinate enough Americans to achieve herd immunity by the summer. In the first few weeks of the rollout, unforeseen issues arose, he added, calling on Azar to provide more leadership and coordination between states to address the issues.

Representatives from HHS have not returned CNBC’s request for comment.

According to Pollack, some hospitals have received fewer doses than requested, while others have received more than they need “with no explanation for this mismatch”. Pollack added that other differences between the state’s plans are also creating headaches for hospitals and adding to the complexity of the massive vaccination campaign.

“We hear from hospitals and health systems that serve more than one state that it is difficult to manage vaccine distribution when their patients live in jurisdictions with different rules about which patients are prioritized and who have different levels of priority,” wrote Pollack . “As this rollout is evolving rapidly, it is absolutely essential that effective situational real-time guidance is provided at the national level.”

He urged Azar and HHS to communicate more frequently and clearly with state, local, and hospital officials.

And many hospitals across the country are currently overwhelmed with treating Covid-19 patients. Pollack says hospitals cannot vaccinate the public without help. He said hospitals suffer from staff shortages and limited protective equipment such as masks and gloves. Pollack asked for more details about the government’s plan to include pharmacy chains in the wider vaccine rollout.

Pollack stressed that the aim of the vaccination campaign is to achieve herd immunity and bring the outbreak under control. By some estimates, that could be around 246 million Americans, or around 75% of the population.

“That would mean vaccinating 1.8 million people a day between January 15 and May 31, including weekends and holidays,” wrote Pollack of the attempt to vaccinate 246 million Americans by the summer. “There are currently 64 different micro-plans being developed by states, some major cities, and other jurisdictions [HHS] assess whether these plans are overall able to achieve this level of vaccination? “

New York Governor Cuomo warns that the variant of Covid found within the UK may put hospitals underneath strain and power shutdowns

A new and contagious strain of coronavirus, first spotted in the UK, could force New York into another economic stalemate if it spreads uncontrollably and weakens state hospitals, Governor Andrew Cuomo said Thursday.

So far, New York has only reported one Covid-19 case with the new variant B.1.1.7, but there are likely more cases that simply weren’t discovered, Cuomo said. Although the variant is believed to be more transmissible than previous versions of the virus, it doesn’t appear to make patients sick or increase their risk of death, according to health officials.

But a more communicable burden is still of concern because it will infect more people, Cuomo said during a call with reporters. This will lead to more hospitalizations when there is a shortage of health workers, especially nurses, in every New York facility, the Democratic governor said.

Protecting health systems in New York was a priority for the governor, who warned that another economic shutdown might be in sight if the state’s hospitalization rate worsens. According to data from the COVID Tracking Project run by journalists at The Atlantic, more than 8,600 people with Covid-19 are currently hospitalized in New York, the most since early May last year.

“It overtook everything in the UK in three weeks,” said Cuomo. “If it spreads in the UK in New York, if the hospitalization rate rises, the hospital staff is sick, then we have a real problem and we are closed again.”

Three states – Texas, Connecticut and Pennsylvania – announced on Thursday that they had identified their first Covid-19 cases with variant B.1.1.7 and together with New York, California, Florida, Georgia and Colorado confirmed the arrival of the new tribe.

The U.S. Centers for Disease Control and Prevention said at least 52 cases of the mutated virus had been confirmed in America as of Thursday. However, the CDC warns that their numbers “do not represent the total number of B.1.1.7 ancestry cases circulating in the United States” and may not coincide with the numbers reported by local officials.

Prime Minister Boris Johnson on Monday outlined a number of new restrictions across England to keep the country’s health system from becoming overwhelmed. According to Johnson, medical experts believe the mutated strain is 50% to 70% more contagious.

Viruses are constantly mutating and are expected to develop over time as the peaks on their surfaces change, according to the CDC. The British variant “came about with an unusually large number of mutations” which made it easier and faster to spread.

The good news: the changes don’t appear to make existing Covid-19 vaccines any less effective, the agency said. This is partly why Cuomo has pushed hospitals to vaccinate their healthcare workers faster, he said.

Cuomo warned Monday that hospitals could be fined up to $ 100,000 for failing to deliver their Covid-19 vaccine rations by the end of this week. While some hospitals have shown improvements, others are still lagging behind, he said Thursday.

The state has around 2 million healthcare workers and has only received around 900,000 doses of Covid-19 vaccines from Pfizer and Moderna to date, Cuomo said. In the past few weeks, the number of shots New York can deliver has increased to over 50,000 a day in New York, Cuomo said.

The state is aggressively trying to get its first priority group of healthcare workers vaccinated before moving on to other key workers and vulnerable people such as teachers, police officers and those over the age of 75.

“Vaccinate health care workers because if they get sick and don’t show up, and staff shortages are already the limiting factor on hospital capacity, you will reach hospital capacity like California, like California, UK, like Italy,” Cuomo said. “And then you have to close.”

US Capitol Police Officer who shot and killed Trump supporter Ashli

The US Capitol Police (USCP) officer who shot and killed 35-year-old Air Force veteran and violent Trump supporter Ashli ​​Babbitt has been on administrative leave and is currently under investigation, according to The Hill.

The officer, whose identity is unknown, killed Ashli ​​while she was being videotaped and pushed into the speaker’s lobby. The lobby is a hallway behind the Chamber of the House where lawmakers, staff, and reporters usually congregate during votes. Access was restricted during the COVID-19 pandemic.

Steven Sund, the Capitol police chief, said Ashli ​​was part of the group that made their way to the chamber of the house where lawmakers had not yet been evacuated. He noted that Ashli ​​received immediate medical attention; She was taken to the hospital, but died from the injury.

Chief Sund continued, “When protesters forced their way to the House of Representatives Chamber, where members of Congress were seeking refuge, a USCP sworn agent dismissed his service weapon and hit an adult woman. Under USCP policy, the USCP employee has been taken on administrative leave and his police powers have been suspended pending a joint investigation by the Metropolitan Police Department (MPD) and the USCP. “

Lawmakers also called for an investigation to find out why the Capitol Police couldn’t hold back the violent rioters. The rioters were able to create terror and chaos in the country’s legislature for several hours before law enforcement could secure the building.

The Capitol Police announced earlier this week that they are planning additional staff to ensure coverage of upcoming protests in support of Trump. Chief Sund also said that the Capitol Police are “conducting a thorough review of this incident, security planning, policies and procedures.”

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Biden introduces Legal professional Common Merrick Garland and swears the DOJ’s independence

President-elect Joe Biden introduced federal appeals court judge Merrick Garland and other senior prosecutors as key members of his new Justice Department on Thursday.

Garland, whom Biden had nominated as his attorney general, would lead a team of legal professionals with extensive experience in and around the Justice Department and significant experience in civil rights law.

However, following the pro-Trump uprising on Capitol Hill on Wednesday, Biden began his speech on Thursday by repeating who his candidates will serve.

“We need to restore the DOJ’s honor, integrity and independence to this nation that has been so badly damaged,” said Biden.

“I want to be clear to those in charge of this department who you are going to serve: you are not going to work for me. You are not the lawyer for the president or the vice-president. Your loyalty is not to me,” he added. “It’s about the law, the constitution, the people of this nation.”

Many of Biden’s candidates agreed with this sentiment and called for a return to an independent, apolitical Ministry of Justice.

Garland, whose previous appointment of President Barack Obama to the US Supreme Court was blocked by Senate Republicans, spoke immediately after the president-elect.

“The essence of the rule of law is that the same cases are treated equally: there is no rule for Democrats and one for Republicans, one rule for friends, another for enemies, one rule for the mighty and another for the powerless,” he said .

“These principles – ensuring the rule of law and realizing the promise of equal justice – are the great principles on which the Justice Department was founded and which it must always stand by,” added Garland.

Federal Judge Merrick Garland makes remarks after he was appointed US Attorney General by President-elect Joe Biden on January 7, 2021 at the Queen Theater in Wilmington, Delaware.

Chip Somodevilla | Getty Images

Biden’s appointment of Garland, a political centrist, likely reflects the president-elect’s focus on isolating the department from partisanship under President Donald Trump, who often pressured his attorneys-general to investigate personal grievances, including false allegations of widespread election fraud .

It is believed that the president’s allegations, though without evidence, helped spark and siege the violent unrest on Capitol Hill the day before.

Biden’s demands for independent and tireless law enforcement could be quickly put to the test if the president-elect’s son, Hunter Biden, is under criminal investigation.

The younger Biden announced last month that his taxes were being investigated by the US Attorney’s Office in Delaware, a unit of the DOJ.

Although both father and son have said they are confident Hunter didn’t do anything wrong, ethics officials are likely to investigate the probe’s duration and scope.

Lisa Monaco, Biden’s election as assistant attorney general and former Obama counter-terrorism advisor, said restoring the division’s full pursuit of justice after the past four years was central.

“The soul of the Justice Department resides in the integrity of its professionals, in the independence of its investigative and law enforcement activities, and in the principles it uses to uphold the ideal of justice in America,” she said.

“What is most critical in the coming days, I think, is not a challenge at all, but an opportunity,” added Monaco. “For this team and for the career professionals that make up the Justice Department to reassert its norms and traditions. Doing justice without fear or favor.”

Biden appointed Vanita Gupta, a professional civil rights attorney and judicial alum, as associate attorney general. As a child of Indian immigrants, Gupta shared a story from her childhood when she first discovered the U.S. judiciary was more likely to fail people and color communities.

She remembered how, as a four-year-old, she and her family were forced to leave a McDonald’s after a group of skinheads labeled them racist slurs and threw food to their mother and grandmother.

Vanita Gupta, US President-elect Joe Biden’s candidate for assistant attorney general, speaks as Biden announces his Justice Department nominations at his interim headquarters in Wilmington, Delaware on Jan. 7, 2021.

Kevin Lamarque | Reuters

“There are many agencies in the federal government, but actually only one that bears the name of a value. Because of that name, that value of justice, we know the department bears a unique fee,” she said.

“At best it is the keeper of a sacred promise. It is the promise of equal justice for all,” added Gupta. “But if we are given up, we will dismantle our democracy and sow the divisions we have come to know all too well.”

The speeches were rounded off by Kristen Clarke, the candidate to head the DOJ’s civil rights division. Clarke has previously served as a Justice Department attorney on police misconduct, hate crime and human trafficking cases.

Clarke said the nation is at a “crossroads” and if confirmed it would try to close the door on discrimination through civil rights law enforcement.

“The Department, and especially the Civil Rights Department, has always had a special place in my heart. The call for equal justice under the law unites us as a nation,” she said.

Texas well being authorities establish the primary case of a brand new pressure of Covid within the UK

Medical staff examine a patient with coronavirus in the COVID-19 intensive care unit (ICU) at the United Memorial Medical Center in Houston, Texas on November 16, 2020.

Go Nakamura | Getty Images

Public health officials in Texas announced Thursday that they had identified the state’s first case for a new, more contagious variant of the coronavirus that was originally discovered in the United Kingdom.

The patient, a man between 30 and 40 years of age with no travel history, was discovered in Harris County, home of Houston, the county health department said in a statement. The man was isolated and in stable condition, and local infectious disease experts are following all of his contacts to find and monitor other people he may have exposed to the virus.

It’s likely the variant is already floating around in Texas as the man had no history, said Dr. John Hellerstedt, the Texas Department of Health commissioner, in a statement. He added that genetic variations in viruses “are the norm,” and it’s not surprising that the variant was discovered in Texas, given how quickly it spreads.

“This should get us all to double our commitment to the infection prevention methods we know: masks when you are around people you don’t live with, social distancing, and personal and environmental hygiene,” Hellerstedt said.

The strain, which has also been found in California, Georgia, New York, Florida, and Colorado, is believed to be communicable but doesn’t appear to make people sicker or increase the risk of death from Covid-19, experts have said. Earlier Thursday, Pennsylvania health officials said they had identified their state’s first case with the new variant known as B.1.1.7.

Harris County judge Lina Hidalgo, the county’s most elected official, said in a tweet Thursday that the discovery of the variant in the region was “worrying” given its already rapid spread.

As of Thursday, the district was still in its most serious threat level, “Level 1”. This means that testing and contact tracing efforts are strained and outbreaks are “present or worsening” according to the county’s website.

When the county is at this level, residents are advised to only leave their homes for essential purposes and to minimize contact with other people whenever possible.

Officials at the U.S. Centers for Disease Control and Prevention have stated that current vaccines should work against the new variant, although additional hospitalizations could occur if allowed to spread uncontrollably. Federal health officials are also on the lookout for a second separate new strain, first identified in South Africa.

The CDC does not yet know how widespread the new variant B.1.1.7 is in the USA. The agency now requires all passengers traveling from the UK to the US to provide evidence of a negative Covid-19 test before boarding, which was carried out no later than three days before their departure.

– CNBC’s Will Feuer contributed to this report.

Regina King on police response to Capitol riot towards BLM protests

Joe Biden wins the 2020 US election: celebrities react

How many people, Regina King watched in horror the January 6 breach of the US Capitol on the news.

“I had to borrow a friend’s Hulu Live account to tune in,” she said hours later during an appearance on Jimmy Kimmel Live !. “You know, I tuned in to people with pitchforks and was led down the stairs after very quiet protests by police officers after they broke windows. Yes, the divided states of America.”

During the interview, Jimmy Kimmel noted that the law enforcement response “certainly seemed different” than the response to the Black Lives Matter protests in Washington DC several months ago. The actress agreed, “Yeah, that’s exactly the point I’m making. You were actually gently led down the stairs … No tear gas … It was, wow, pretty much the vision.”

As early as June, protesters gathered across Washington DC to peacefully protest against police brutality and racial injustice. Some protesters sat at the Lincoln Memorial as members of the National Guard lined the steps, while other protesters marched near the White House and in Lafayette Square. According to CNN, police sprayed tear gas and fired rubber bullets at protesters in an attempt to break the crowd in front of the president Donald TrumpVisit St. John’s Episcopal Church. The Maj of the National Guard. Adam DeMarco Legislators later announced that the demonstrators were “exposed to an unprovoked escalation and excessive use of force”.

Forbes reported, citing the Metropolitan Police Department, that 427 “troubled” arrests were made between May 30 and June 2, 2020.

Fiat Chrysler introduces new three-row Jeep Grand Cherokee SUV

2021 Jeep Grand Cherokee L.

Fiat Chrysler

DETROIT – Fiat Chrysler is adding a new three-row model to its popular Jeep Grand Cherokee range, which the company believes will make the vehicle more attractive in an increasingly competitive SUV market.

The Grand Cherokee L is the fifth generation of the SUV since its debut almost 30 years ago. A three-row jeep has been in the making for more than a decade. Jeep left the segment in 2010 after poor sales of a vehicle called the Commander.

“A three-row Grand Cherokee is in great demand. We know we will do very well,” said Christian Meunier, Jeep’s global president, during a press conference. “We will greatly improve our leadership.”

The 2021 Grand Cherokee L is recognizable as a Jeep, but has a new exterior design with horizontal LED daytime running lights, a wider seven-slot grille and other design elements that were featured on the company’s Grand Wagoneer SUV concept last year. It is based on a new Fiat Chrysler vehicle architecture that will also support a redesigned two-row Grand Cherokee and a new plug-in hybrid version.

2021 Jeep Grand Cherokee L.

Fiat Chrysler

Fiat Chrysler said the three-row vehicle will go on sale in the second quarter, followed by the two-row and plug-in models later this year. The company declined to release prices for the L model, but it will likely be above the current Grand Cherokee at $ 34,000 and below the upcoming Wagoneer, a larger three-row SUV that’s expected to start at around $ 60,000 this year Trade will come.

Meunier said there will be “significant differentiation” between the three-row Grand Cherokee model and the Wagoneer and Grand Wagoneer models, an upcoming luxury Jeep that will exceed $ 100,000.

Jeep is expected to expand its range from six to nine vehicles by the end of next year, including the Grand Cherokee L and Wagoneer vehicles.

The Grand Cherokee L comes standard with a 3.6 liter V6 engine developing 290 horsepower and 257 lb.-ft. of the torque. A 5.7 liter V8 engine developing 357 horsepower and 390 foot pounds of torque will also be available. The company said the new Grand Cherokee will offer hands-free driving technology for model year 2022 vehicles in late 2021.

2021 Jeep Grand Cherokee L.

Fiat Chrysler

The interior of the Grand Cherokee L features 8.4 “or 10.1” touchscreen displays and a frameless digital driver information screen of 10.25 “behind the steering wheel. It will offer more than 110 security features, including 360-degree surround view and night vision cameras, according to the company. It will be available in six and seven seat configurations.

The next-generation Grand Cherokee models will be built at a new assembly plant that the company is completing in Detroit. Fiat Chrysler invested $ 1.6 billion to build a 790,000-square-foot paint shop and convert the two original Mack Avenue engine plants into the new assembly plant.

2021 Jeep Grand CHerokee L.

Fiat Chrysler

Trump awards the Medal of Freedom to a few golfers the day after the Capitol rebellion

US President Donald Trump looks on after presenting the Presidential Medal of Freedom to Celtics basketball legend Bob Cousy in the Oval Office of the White House in Washington, DC on August 22, 2019.

Almond Ngan | AFP | Getty Images

One day after the riot among his supporters in the U.S. Capitol, President Donald Trump turned to the Gulf.

President Donald Trump was due to award the Presidential Medal of Freedom to three professional golfers Thursday, a White House official said.

The medals were to be awarded to retired golfers Annika Sorenstam and Gary Player as well as posthumously to babe Didrikson Zaharias, who died in 1956.

Trump, who called on Vice President Mike Pence to reject the election results in his last public appearance on Wednesday, should hand over the medals in a closed ceremony, the official confirmed.

These remarks to supporters at a White House rally came just before a joint congressional session to confirm the victory of President-elect Joe Biden. Pence, who chaired the event, rejected Trump’s request to reject legitimately cast votes.

Trump’s supporters swarmed around the Capitol, broke through the ranks of police officers and invaded the convention halls. The unrest forced the proceedings to be discontinued, as well as bans and evacuations. The National Guard was activated to respond to the attack. At least four people died and numerous injuries were reported.

Congress convened again that evening and finally confirmed Biden’s victory after 3 a.m. on Thursday.

The Presidential Medal of Freedom is the nation’s highest civil honor. It recognizes individuals who “have made particularly meritorious contributions to the security or national interests of the United States, world peace, cultural, or other significant public or private endeavors”.

Thursday’s three recipients will join Arnold Palmer, Jack Nicklaus, Charlie Sifford and Tiger Woods as the only golfers to receive the award, according to NBC’s Golf Channel, which first covered the award on Thursday.

Trump is an avid golfer and his company, the Trump Organization, owns numerous golf club resorts. The President has visited these clubs hundreds of times during his tenure.

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The WHO warns of a turning level within the Covid pandemic

A nurse is adjusting her PPE in the intensive care unit at St. George’s Hospital in Tooting, South West London, where the number of intensive care beds for the critically ill had to be increased from 60 to 120, the vast majority of them for coronavirus patients.

Victoria Jones – PA Pictures | PA Pictures | Getty Images

LONDON – The World Health Organization on Thursday warned of a turning point in the fight against the coronavirus pandemic amid growing fears about more infectious variants of the virus, which have led to an increase in infections.

Countries are scrambling to find variants found in the UK and South Africa that are significantly more transmissible and public health experts are concerned about the potential impact on vaccination efforts.

While the variants spread more easily, there is no clear evidence that the mutated viruses are associated with more severe disease outcomes. However, being more communicable means more people can become infected, and that could mean more serious infections and more deaths.

In recent weeks, optimism about the mass rollout of Covid vaccines appears to have been tempered by the resurgent rate of spread of the virus.

“We were prepared for a challenging start to 2021 and that was exactly what we were looking for,” said Dr. Hans Kluge, WHO Regional Director for Europe, in an online press conference.

“This moment marks a turning point in the course of the pandemic where science, politics, technology and values ​​must form a united front to drive back this persistent and elusive virus.”

“We are right in the middle”

A year after the health department’s first report on the coronavirus, Kluge reflected the fact that the WHO European region had more than 26 million Covid cases and over 580,000 deaths in 2020.

Several countries in Europe have imposed national bans in the past few days, with more expected soon to ease pressure on already overburdened healthcare facilities.

View of an almost deserted city center on December 15, 2020 in Amsterdam, Netherlands.

Niels Wenstedt | BSR agency | Getty Images News | Getty Images

As of Wednesday, nearly half of all countries and territories in Europe had a seven-day incidence of over 150 new cases per 100,000 population. The WHO estimated that more than 25% of them reported “very high” incidence rates and stressed health systems.

“I have to say that at the moment we are very much in the middle of it. We are not just in the middle of it, we are probably in the most acute phase of transmission in the European region and we will see further [a] really big impact on hospital wards, “said Dr. Catherine Smallwood, Senior Emergency Officer at WHO Europe, during the online briefing.

“To change this, we really need to reduce transmission and control the spread despite the introduction of vaccinations,” said Smallwood.

The European Commission on Wednesday issued final approval for the use of the Covid vaccine developed by the US company Moderna.

It was the second vaccine to be approved by the EU executive, with the Pfizer BioNTech vaccine having previously received the green light.

The EU, which launched its vaccination program on December 27, has been criticized for the slow roll-out of vaccinations across the bloc.

Attempts are being made to catch up with Israel, where large numbers of people have already been vaccinated against the virus.

To date, according to the WHO, Europe has registered 27.5 million confirmed Covid cases and 603,563 deaths.

Small companies ought to put together for the second spherical of PPP lending

A baker places long shapes of freshly kneaded sourdough on racks for baking at the Reineckers Bakery in Macedonia, Ohio, October 7, 2020.

Ty Wright | Bloomberg | Getty Images

Small businesses hit by the pandemic recently got some good news – the $ 900 billion relief bill, signed by President Donald Trump, added funding to the Paycheck Protection Program, a forgivable loan program established by the CARES Act.

The $ 284 billion allocated will give those who weren’t approved for the first iteration one more opportunity to apply and allow companies that previously ran out of PPP money and were severely affected by the pandemic to have a second draw to apply.

This also makes it easier for companies that spend most of the money on payroll to forgive and make the loans tax free.

Further guidance is expected to be published by the US Small Business Administration. Although there is no clear schedule for opening applications for the second round, experts recommend small businesses prepare their documents now if they want to apply.

“The first time [PPP] We’ve all been trying to figure out what it means, what paperwork you need, and how the whole plan would work, “said Megan Gorman, attorney and managing partner at Checkers Financial Management in San Francisco.

“Now, while we wait for the guidance from the SBA, we can tell you a little more and outline what is good,” she said.

Here’s what you need to have ready.

When you apply for an initial loan

If you were rejected in the first round or did not receive any money, you have the option to apply for a first PPP loan again. This time, loans are capped at $ 2 million, down from $ 10 million previously. However, companies with up to 500 employees are still eligible.

Many small businesses and self-employed people were disappointed when they first started PPP because they didn’t have their books in order, Gorman said. This time the new bill is much more comprehensive of what is needed, she said.

This means that companies and the self-employed should keep their tax return documents, payments for rent and ancillary costs as well as salary information and proof of employment.

“I can’t stress enough that you need to work with your accountant,” said Gorman. “This is not an easy process and tax professionals have become very familiar with PPP over the past eight or nine months.”

The first time you got rejected, go back to the lender you applied to and see what prevented you from getting approved, Gorman said. This can help you to support your application for the second round.

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PPP 2.0 – – a second loan

The new law also allows some companies to apply for a second loan. To qualify, companies must have issued their entire first loan, have fewer than 300 employees, and demonstrate that they lost 25% or more of sales for a quarter in 2020, either quarterly or annually.

“During the first round of PPP, many companies struggled to generate their net income because they did not have proper bookkeeping,” said Sheneya Wilson, CPA and founder of Fola Financial in New York. “Now you have to make comparative statements.”

This means businesses typically need to file their 2019 tax returns and income statements to demonstrate that they have had at least one quarter in which sales have decreased by 25% or more. A tax professional can help companies make sure they are authorized and have the correct records, Wilson said.

These second loans are issued on a recommendation similar to the first round of PPP – 2.5 times the cost of labor – and capped at $ 2 million.

This is especially helpful for small businesses, which are hardest hit by the pandemic, including industries like restaurants and hotels, Wilson said.

You need to see this when we are on the Titanic, and this is the lifeboat that will help your company survive

Megan Gorman

managing partner, Checkers Financial Management

Get ready to move quickly

According to Anjali Jariwala, Certified Financial Planner, CPA and Founder of Fit Advisors in Torrance, Calif., Small businesses or self-employed professionals wishing to apply should prepare to act as soon as possible once applications are open.

They also want to look for options other than the lender they obtained or applied for their first loan from, especially if it is a larger bank, she said. In the first round of PPP, larger banks had such an influx of applications that they couldn’t approve loans as quickly as smaller banks or fintech lenders like Cabbage, Fountainhead or Square.

If businesses discover that another lender has opened applications the day before, it could mean the difference between getting a loan and missing out, Jariwala said.

However, the first iteration of PPP was inadequate in many ways. However, experts recommend companies that need more help to apply for the second round if they are eligible. Experts also pointed out that while it is unclear how the forgiveness will play out for the second round, the new bill has generally made the process easier.

“The biggest concern out there is that people have been so frustrated by the first round of PPP that they may not consider this round even if they need it,” Gorman said.

“You have to see this when we’re on the Titanic, and this is the lifeboat that will help your company survive,” she said.

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