The ABC’s of BPP for your PPP and BBA
Posted on May 21, 2020 on Featured, Special Alerts by
One more result of the COVID pandemic is an outbreak of abbreviations. Please forgive us as we try to put some levity in the unimagined world we all now face.
Earlier this year Brody and Associates introduced its Business Preparedness Program (the “BPP”) to its clients. The BPP helps our clients address the impact COVID-19 has had on their business by offering our services at a significantly reduced rate. BPP participants can purchase 1 – 2 hours of legal services per month at the rate of $315/hour – a reduction of 47.5% off our founding member’s standard rate. We hope this will enable more of our clients to get the assistance they need.
Since its launch, our clients have successfully taken advantage of our BPP and had Brody and Associates help them navigate through the complicated and contradictory Paycheck Protection Program (the “PPP”). We have helped calculate loan amounts, forgiveness strategies, and adjust headcount through reductions in force utilizing shared work programs and partial unemployment benefits. We have also created a system to track and manage PPP expenses to maximize loan forgiveness and prepare for potential U.S. Treasury, SBA and/or Bank Audits.
Our clients have found the BPP an excellent complement to their PPP loans and we are glad we can help. To that point, we are pleased to announce we are continuing to offer the BPP through the end of this year as our clients continue to suffer from the financial impacts of COVID-19.
Finally, as we have guided our clients through the PPP process and the painful impact COVID-19 has on their businesses, we have come across many common themes and challenges. This has led us to formalize what we have learned in our Back to Business Assessment and Legal Advisory Plan (the “Back to Business Assessment” or “BBA”).
The BBA is a program designed to evaluate a client’s current situation in order to make meaningful recommendations on how they can reopen their business in a legally compliant and cost effective manner while avoiding any personnel pitfalls. As you re-engage your teams, the Back to Business Assessment can also help you make sure you are bringing back the right folks at the right time.
These programs are additional ways we hope to give our clients a place to turn in these challenging times. Together we can navigate these constantly changing laws and chart a successful course to the other side of this pandemic while providing some peace of mind.
Please contact us if you are interested in participating in one or both of these programs or if we can help you in any other way. Stay safe and thank you.