COVID-19 Coronavirus Update (Loans and Payroll Protection)
04/01/2020 The Federal government is offering programs to help small businesses with SBA Small Business Administration loans. Here are some of the basics. There are two main loan options available to most of our clients.
SBA Loan Comparison*
|7(a) LOAN PROGRAM||STANDARD||PAYCHECK PROTECTION PROGRAM|
|MAXIMUM LOAN||$5,000,000||The eligible loan amount is lesser of the average of certain fixed monthly payroll costs x 2.5, or $10,000,000.|
|INTEREST RATE MAXIMUM||Prime + 2.25% to 4.75% depending on amount and term of the loan||During the covered period, a covered loan shall bear an interest rate not to exceed 4%|
|FEES||2%-3% of the loan||Waived|
|DEFERMENT OF PAYMENTS||N/A||Minimum of 6 months|
|USES||In addition to standard uses payroll support, including paid sick, medical, or family leave, and costs related to the continuation of group health care benefits during those periods of leave; employee salaries; mortgage payments; rent; utilities; and any other debt obligations incurred before the covered period.|
|SBA GUARANTEE||85% for loans up to $150,000 and 75% for loans greater than $150,000||100%|
|COLLATERAL||Lenders are not required to take collateral for loans up to $25,000. For loans in excess of $350,000, the SBA requires that the lender collateralize the loan to the maximum extent possible up to the loan amount.||No collateral required|
|FORGIVENESS OF LOAN||N/A||The following costs may be eligible for forgiveness: (1) Payroll costs; (2) Any payment of interest on any covered mortgage obligation (which will not include any prepayment of or payment of principal on a covered mortgage obligation); (3) Any payment on any covered rent obligation; (4) Any covered utility payment.|
I got most of my information from our bank Vibrant Credit Union and here is their link to their page with most of the information. Vibrant Credit Union COVID-19 SBA Loan Information
If you need help getting these documents together please let us know our staff is still working and remain working throughout the COVID-19 crisis.
*You should consult your own tax, legal and accounting advisors before engaging in any transaction.
COVID-19 Coronavirus Update (Work From Home)
03/19/2020 During our communities fight with the COVID-19 Coronavirus, we encourage our clients and families to take all precautions necessary to protect yourself and your families. Computer Team, Inc. can help our clients by providing a no-charge program that allows you to work from anywhere. You can take over your computer at work as though you are sitting at work. You can print to your home printer. You can also use your office phone at home if you are in one of our office phone systems.
For further information or assistance to get connected, please contact one of our consultants.
Call 563-355-0426 or 800-355-0450 or send an email to [email protected]
I have attached two documents from the CDC that may help you and your employees.
CDC COVID19-symptoms Link CDC COVID 19 Stop the Spread Link
I also included a chart that may provide additional information that may help in dealing with this issue.
Happy Birthday to Computer Team, Inc. Today we turned 32 years old today!
07/01/2019 Thank you to our clients who continue to have faith in our team to provide for their IT needs. Thank you to our team that works hard every day to satisfy the requirements our of our clients. Make it a great day.
Computer Team releases version 2 of the Denali Remote Sales Transfer program.
Many clients need to have sales take place outside of the traditional retail brick and mortar buildings. In many cases, it is not feasible to stay connected to the home office to create update and maintain sales and customer information, and this why we created the Denali Remote Sales Transfer takes your business to the next level. More Information Click Here…
Centurylink Telephone interruption notice!
November 26, 2018, Centurylink is having issues with the 563 area code. Calls coming from and going to this area code may not connect. The latest update we have from them is the estimated time of repair is 11/30/18 at 10:00 pm. In the meantime, we have noticed that if you try to call us our 800 number works fine 800-355-0450.
Internet service interruption notice!
August 21, 2018, Our current fiber provider is doing some construction this evening that will cause an outage of our email and web server services. The outage will take place at around 8:00 pm this evening. We got a very short notice from our supplier, and we apologize for this short notice. We have been told to expect the outage to last no more than 4 hours.
Apple is the first publicly traded trillion-dollar company 08/02/2018 and our founder was there at the beginning!
August 2, 2018, Apple has become the world’s first publicly traded company valued at $1 trillion, that is $1,000,000,000,000.00. Below you find a link to a photo taken in 1984 at the Apple roll out of the Apple IIc and our founder Dave Smith was at that roll out in San Francisco. More Infomation…
New blog post about OnSip VOIP Phone System!
February 24, 2018, What to do if you voicemail indicator is still lit after you have retrieved all of your voicemails.
Issue: Sometimes your phone may indicate you have a voicemail and yet you do not. What happened and how do you fix it? More Information…