We are encouraged by news reports that President-elect Joseph Biden will nominate Isabel Guzman to lead the Small Business Administration (SBA). As the head of California’s Office of the Small Business Advocate, Guzman has gone on the record stating the important role ESOPs play in helping our nation retain millions of businesses that might otherwise close when their Baby Boomer owners retire—as many are expected to do in the next eight years.
The ESOP Association
ESOP Association Resources
Jan. 06
The ESOP Association congratulates Boston Mayor Marty Walsh on his reported nomination to the position of Secretary of Labor. Mayor Walsh has a history of engaging ESOP companies and encouraging employee ownership, and if he is confirmed, The Association looks forward to working with him and the Biden Administration to advance employee ownership.
Jan. 06
WASHINGTON – The Treasury Department and the Internal Revenue Service issued guidance today allowing deductions for the payments of eligible expenses when such payments would result (or be expected to result) in the forgiveness of a loan (covered loan) under the Paycheck Protection Program (PPP).
Nov. 24
See a recap of the recently concluded ESOP 2020 conference, read about the ESOP champions in Congress we helped return to office and those who won't be back in 2021, learn how resent survey results will make our advocacy efforts easier, and more in this issue of the ESOP Report. Plus, get the new mailing address for The ESOP Association and the Employee Ownership Foundation.
Nov. 18
View this deck for an overview of potential contenders for positions in Biden's cabinet.
Nov. 13
The latest election data from The ESOP Association including:
An Elections Dashboard with detailed election breakdown.
A High Level Trends document.
An Elections Dashboard with detailed election breakdown.
A High Level Trends document.
Nov. 05
As the results of the election continue to unfold, we have gathered information in key areas for our members. See the updated resources in the right hand column of this article for:
Nov. 04
As the results of the election continue to unfold, we have gathered information in key areas for our members. See the resources in the right hand column of this article for:
May. 28
The emotional toll that the COVID-19 pandemic is having on Americans is becoming increasingly and alarmingly clear. New information suggests that ESOP companies may want to train an especially keen eye on the well-being of their employee owners.
May. 28
On May 15, 2020, the Small Business Administration (SBA) published a Loan Forgiveness Application that provides long awaited information regarding loan forgiveness under the Paycheck Protection Program (PPP). The PPP generally provides that borrowers are eligible for forgiveness of their PPP loans based upon certain qualifying expenses that arise during the eight-week period commencing on the date the loan was funded (which is known as the Covered Period).