Folks these are challenging times. I’ve only used the Slabbed twitter account one time in aid of my day job and that was yesterday when I goosed Hancock Bank after I got a bad report back from a client who submitted a Paycheck Protection Program Loan application at one of the branches. I am pleased to report that Hancock is now up and operational with these new loans with priority given to their existing deposit account holders which is very reasonable.
What I am not going to do is dispense financial advice here but I will give everyone a tip. The PPP program ends on June 30, 2020 so if your business has been adversely impacted by the pandemic start here and then make an appointment with your local banker. If you don’t believe in banking or you cheat on your taxes, with this program you’ll have also cheated yourself.
The demand surge for professional services is reminiscent of the days after Hurricane Katrina for us and I hear that the banks are being swamped. As always patience is the key as we muddle through this. Given that landscape I am astounded that any CPA firm would lay people off but such has happened. They must have been grossly overstaffed, either that or the firm is being run by morons.
Stay safe everyone.