The ERC Program is still at the dock. However, as we reach out to a lot of companies, we find that they know very little about it. The ERC stands for, Employee Retention Credit and, it is a payroll credit. Many companies are entitled to this federal grant and don’t have to pay it back. Here is one such example. If a restaurant lost worker’s due to the pandemic or had to make changes to the way they conduct business, such as closing their dine-in areas and only having pick-up orders, that would constitute a qualification for the ERC. These changes alone could add up to hundreds of thousands of dollars. There are stipulations for those who qualify but, these qualifications are very general. The key is to act now while the funds are still available and, be prepared to wait from four to six months before you receive your grant. This ship is sailing now.
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