Adams Keegan, a national HR, payroll and benefits provider, today announced the launch of two new tools developed to assist businesses with navigating the complexities of COVID-19-related government stimulus programs.
Through its proprietary HRIS, Efficenter(R), Adams Keegan's SBA CARES Data Report provides its clients with a complete picture of the qualifying costs of payroll for any date range over the past 12 months. This simplifies and speeds up the process for working with SBA lenders, as part of the Paycheck Protection Program (PPP).
This first-of-its-kind tool reflects current general understanding and interpretation of the statutes but will be amended with the most up-to-date information as further SBA guidance emerges.
In addition, Adams Keegan has created a tool to assist employers and employees with new emergency paid sick leave and enhanced FMLA leave provisions that allow for additional leave due to COVID-19-related absences. Efficenter allows employers to easily track paid leave and report it in their payroll submissions in a manner consistent with the stimulus requirements.
“All of us at Adams Keegan are concerned about the impact of the COVID-19 pandemic on individuals, families, businesses and the overall economy,” said Jay Keegan, President and CEO of Adams Keegan. “However, I am very pleased with our team’s unprecedented speed of development to release these critical tools to our clients, so they may support their employees in the best possible manner and plan for the long-term future of their businesses.”
The PPP provision of the Coronavirus Aid, Relief, and Economic Security (CARES) Act allows employers to apply for Small Business Administration (SBA) loans of up to $10 million, depending on the company’s payroll costs.
The Families First Coronavirus Response Act (FFCRA) created new provisions for emergency paid sick leave and enhanced FMLA leave under the FFCRA.