Resources for your U.S. firm and clients* during COVID-19

Resources for your U.S. firm and clients* during COVID-19

Note: The Paycheck Protection Program Flexibility Act (PPP Flex Act) was signed into law on June 5, 2020. The PPP Flex Act extends the availability of loans under the Paycheck Protection Program (PPP) and adjusts certain rules applicable to PPP loans. The information reflected here may therefore be outdated. We are working to update our resources to reflect these updates to the PPP, so be sure to check back soon. Please refer to the latest guidance from the SBA and Treasury to confirm current program rules and how they apply to your particular situation.

Editor’s note: This article was updated on June 3, 2020.

The impact of COVID-19 continues to affect us all in unprecedented ways. To support our customers located in the United States, we’ve compiled a list of resources to help manage your business and assist your clients during this time. To get additional information you need we encourage you to visit our regularly updated accountant resource site and QuickBooks® small businesses resources.

QuickBooks product resources:

Funding and relief resources:

  • Intuit Aid Assist: Help determine your eligibility for U.S. federal relief loans in 10 steps or less with this free website and interactive tool.
  • PPP resource site: Visit our resource center to learn more about PPP loan terms, eligibility requirements, and how much you may be eligible to borrow.
  • Tracking your clients’ PPP loans in QuickBooks Online: In this guide, QuickBooks ProAdvisors Alicia Katz Pollock and Megan Genest Tarnow share best practices to track PPP loan funds and prepare to apply for loan forgiveness.
  • Track how you use your Paycheck Protection Program loan: With QuickBooks Online, QuickBooks Desktop, QuickBooks Self-Employed, and Intuit Online Payroll, you can keep track of how you’re spending your PPP funds by creating expenses, administering payroll, and running spending reports.

Our community is close and we lean on the strength of each other. Connect with peers in the QuickBooks community for real-time guidance and follow timely updates from Intuit Accountants on Facebook and Twitter. Together, we’ll get through this.

Disclaimers:

*The resources described above are made available to businesses located in the United States of America and may not be available in other locations.

The QuickBooks Capital enabled Paycheck Protection Program loan application process supports certain single-owner businesses and self-employed individuals who do not have employees. Users who have received an EIDL loan between January 31, 2020, and April 3, 2020, are not eligible to apply through QuickBooks Capital. QuickBooks Capital does not support users located in AK, NV, nor the U.S. Territories.

Paycheck Protection Program (PPP) loans offered within QuickBooks Capital may be made by Intuit Financing Inc. (d/b/a QuickBooks Capital) or by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC.

QuickBooks Capital is licensed as Intuit Financing Inc. (NMLS # 1136148), a subsidiary of Intuit Inc. In California, loans are made or arranged under CFL Licensed #6054856. Minimum loan amount varies by state. 

Intuit Financing Inc., (d/b/a QuickBooks Capital) is an authorized SBA Paycheck Protection Program Lender.

Loans are made or arranged by Intuit Financing Inc. (AK #10000990, CA #6054856, D.C. #ML1136148, FL #CF9901279, MD #03-2339, MN #MN-RL-1136148, NM #1899, ND #MB102690, RI #20183584SL and #20183583LL, SD #MYL.3279,TN #166418, VM #7194, VT #7194 and #7195)

Given the large demand for additional authorized Paycheck Protection Program funds, and limits to our funding capacity, not every qualified Paycheck Protection Program applicant will receive a loan.

Relief programs are evolving regularly. Please visit SBA.gov or https://home.treasury.gov/policy-issues/top-priorities/cares-act/assistance-for-small-businesses for the most up to date information.

This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Intuit Inc. does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Intuit Inc. does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers should verify statements before relying on them.