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COVID-19 - Business and Individual Support Information

To our valued clients,

During this difficult time in our planet’s history, it is our aim to provide information, direction and clarity to all of you. As your trusted advisors we can help you make sense of the steps the government will require you to take, if you wish to apply for the economic benefits recently made available through the Coronavirus Aid, Relief, and Economic Security Act.

Most importantly, contact Boulder Valley CPAs today if you’ve been economically impacted

Don’t wait. We expect a rise in need as time moves on and if you or your business has been impacted by the global health crisis, please contact us to schedule a phone call or Zoom meeting with Ernie Villany.  

Kindly remember the legislation is new, complex and will ultimately be administered through SBA approved financial institutions like your local bank. Our role is to help you make the most valuable use of your time by focusing on readiness. 

Here’s How You Can Prepare Today

  • Contact your current business bank to make sure they are an SBA Approved Financial Institution and let them know you have been impacted by COVID-19 and would like them to familiarize you with their understanding of the CARES Act / SBA Loan Application process.

  • Gather your business’ Financial Statements AND payroll records.
  • Gather all payroll reports for the last twelve months.
  • Profit and Loss (P&L) Statement and Balance Sheet. Especially Liabilities – If your 2019 business tax return is on extension you should prepare a P&L and Balance Sheet for January through December 2019 as well as January through March 2020 and for all of 2018

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  • Gather Business Certificates, Corporate Seals and Evidence of Licensing
  • Gather Prior Loan Application History
  • Include records of any SBA loans you may have applied for in the past.
  • Gather Income Tax Returns
  • Include signed personal and business federal income tax returns of your business’ principals for the previous three years. If you are on extension, gather tax returns from 2017 and 2018.

  • Gather Business Overview and History
  • Provide a brief history of the business and its challenges. Include an explanation of why the SBA loan is needed and how it will help the business.

“Hardships often prepare ordinary people for an extraordinary destiny.” C.S. Lewis

Contact BVCPAs

We want to hear from you!

Please fill out this form and let us know how we can be of service. We will happily offer you a free consultation to determine how we can best serve you.

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