Committed to Protecting You and Open to Serve You: Stromsoe Cares COVID-19 Update March 26, 2020
The U.S. Senate passed a $2 trillion Coronavirus stimulus bill designed to provide economic relief to all Americans. The bill is now with the U.S. House of Representatives, and then will go to President Trump for his signature. Officials believe the bill is expected to pass the House and be approved by the White House on Friday.
Included in the bill is the “Keeping American Workers Paid and Employed Act,” which provides $350 billion in loans for small businesses to cover salary, wages, and benefits worth 250% of an employer’s monthly payroll, with a maximum loan of $10 million. Loans will be forgiven for qualifying groups, those who use the loan to keep employees on payroll, pay rent and insurance premiums, and other guidelines in the law. Please tell clients to consult a tax professional for answers to questions.
For a copy of the details before the House, click here.
Businesses with fewer than 500 employees will work with the Small Business Administration (SBA) to get more information and apply for a loan.
Please note: the bill is not yet passed.
Your Stromsoe Insurance Agency team members are working remotely to serve and protect you.
Here’s 5 easy ways to reach Stromsoe Insurance anytime:
Your understanding that your experience with us may be a little different during this time of uncertainty is greatly appreciated. Although our physical office is closed, our team remains 100% committed to serving you.
Below are resources to help you in these unprecedented times:
Below is helpful information to help you navigate keeping your policies in effect through these times:
Business Insurance Resources:
If you are in need of HR services, please contact us about our proprietary HR program (ThinkHR.com). In this time of need, we are offering this program to help and assist you at no cost to you.
If you need any other assistance, or have questions about insurance or any other subject, please reach out to us. We are here to help and support you, your family and your business in any way humanly possible.
We appreciate this and every opportunity to serve you!
Mike Stromsoe and Your Stromsoe Insurance Total Protection Team