By: Stefano Tromba Apr 07, 2020

New Payroll Report Feature Makes SBA Loan Applications Easier

Fingercheck’s recent platform update has made it easier for payroll clients to obtain a Small Business Association (SBA) loan from the Federal Government.  The recently passed Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid Relief and Economic Security (CARES) act are each, aimed at assisting struggling businesses adversely affected by the COVID-19 pandemic.  Clients who qualify and apply for an SBA loan will require a special payroll report, not previously available – UNTIL NOW. 

We have now made this report accessible and available for Fingercheck Payroll clients to easily download. This will help streamline the SBA loan application process and get clients one step closer to obtaining a loan.  Now, accessing the report is simple and outlined below.

From the Fingercheck dashboard: click Reports > Payroll. Find the report titled, “CARES1 – CARES Avg. Monthly Report”.

It’s important to know that qualifying businesses (and employers) will be required to pull data for a minimum, 12-month cycle. Otherwise, the capped portion of the report will be cut off. The Fingercheck platform will default to last year, which clients keep and use “as is” or pull data from the last, more recent 12-month cycle.

Other additional options on our platform are available and include:

  • Adding Employer Retirement Deductions
  • Health Insurance
  • Suppressing Employee Details

We, at Fingercheck, understand this is a difficult time for everyone and we are happy to offer this feature, as well as, anything that makes this situation easier for small business owners. We welcome the opportunity to assist any small business with as much help as we can provide.  If you have questions, please contact us @ 1-800-610-9501 or email us at Clients may call, or simply log into their Fingercheck account and chat with an online support specialist.

Stefano is a seasoned marketing professional and writer with diverse industry experience. Born and raised in NYC, he holds a Journalism degree from Queens College, and is currently the Head of Marketing at Fingercheck.

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