COVID-19 Advisory Services

Helping Ohio, Indiana, and Kentucky Businesses and Organizations Recover

The COVID-19 pandemic has created unprecedented challenges for many businesses and organizations. Navigating the impact of complex legislative updates and regulatory relief measures to position for success often requires a different level of support.

In addition to the same tax, audit, assurance, accounting, and consulting services our clients rely on, we’ve developed a summary of services to help you overcome and recover from these challenges.

Additionally, we’re curating the most relevant and up-to-date news and advice for business owners on our COVID-19 Blog.

Quick Tests – See where you stand

Our series of COVID-19 relief Quick Tests will help you get a clear picture of where you stand and what relief may benefit your business or organization. A member of our COVID-19 Advisory Team will contact you with results and recommendations.

Employee Retention Credit Quick Test

Find out if you qualify, and what the ERC may be worth to your business or organization with the ERC Quick Test.

Note – a PPP loan does NOT disqualify you for the ERC credit!

PPP Loan Forgiveness Quick Test

If your loan is $2 million or less and you’re targeting the 8-week period for forgiveness, take our PPP Loan Forgiveness Quick Test. Our experts will review your results and contact you with insights and recommendations relevant to your situation.

Barnes Dennig’s PPP Loan Forgiveness Analysis & Report

Get peace of mind with our PPP Loan Forgiveness Analysis & Report – a set, fixed-cost analysis with key recommendations for maximizing your loan forgiveness potential and protecting your cash flow.

Paycheck Protection Program

The Paycheck Protection Program (PPP) is a modification of the Small Business Administration’s (SBA) 7(a) loan program, in which banks make loans to businesses that are guaranteed by the SBA to small businesses​. Learn what manufacturers need to know about PPP loan accounting in an in-depth video here.

Below is a high-level overview of the program:

  • Loan forgiveness depends on the following factors:
    • The borrower maintains employee levels and wage rates at pre-pandemic levels, or qualifies for certain safe harbors available. Wages may not be reduced by more than 25% for employees earning less than $100,000, and;
    • 60% of the proceeds are used for payroll costs. There will be a loan balance (unforgiven) if the loan proceeds are used for anything other than payroll costs, mortgage interest, rent, and utilities payments incurred over the 8 or 24 weeks after the loan origination date or alternative start date. Accordingly, not more than 40% of the forgiven amount may be for non-payroll costs, and;
    • Documentation that COVID-19 created business uncertainty, making the loan necessary, may be required to obtain loan forgiveness.
  • PPP loan interest rate is 1.0%.
  • The unforgiven loan amount repayment term = 2 or 5 years depending on when the loan proceeds were received.
  • Eligible applicants are those with 500 or fewer employees – affiliation rules apply. The limit is reduced to 300 employees for a second PPP loan.
  • PPP loan payment deferment relief for 10 months after the loan covered period. Interest will continue to accrue during the deferral period.
  • Watch one of our on-demand webinars covering this program for business owners or for not-for-profits.

Economic Injury Disaster Loan Program

Below is a high-level overview of the Economic Injury Disaster Loan (EIDL) Program. Businesses under 500 employees are eligible:

  • Credit history and ability to repay subject to being analyzed
  • Economic injury must be due to Coronavirus (COVID-19)
  • EIDLs are directly from SBA Disaster Assistance
  • There is no application fee
  • EIDLs maximum is $2 million
  • Interest rates = 3.75% for small businesses / 2.75% nonprofits
  • Rates are fixed throughout the loan term
  • Terms can be up to 30 years with no penalty for prepayment
  • May be used for working capital (i.e., to pay fixed debts, payroll, accounts payable), not lost sales or profits or for expansion, may not be used to service existing SBA loan debt.
  • Most loans will require collateral (e.g. real estate / SBA can waive this)
  • Apply at SBA’s website:

Tax & Compliance

The flurry of changes from Washington and respective state capitals has resulted in a lot of confusion not only about filing deadlines, but also new tax opportunities. Our seasoned experts will analyze your current and past tax filings against these changes to identify where immediate savings and other opportunities exist.

Cash Flow Management

Many businesses have been challenged by an unexpected cash flow shortage. Our team can work with you to identify ways to manage cash flow including a review of government-sponsored funding options, analysis of vendor/supplier agreements, and identification of additional financing opportunities.

Business Continuity

Developing a comprehensive plan for managing through the emergency is essential to disarming panic and stress. Our professionals will work with you through the peaks and valleys to develop a path forward.


The abrupt shift for certain companies from a traditional office to remote workforce environment can create additional and significant risks. Our cybersecurity team can help to identify weaknesses, new risks, and implement a remediation plan to keep valuable digital assets secure.

Additional Resources

Download a more detailed CARES Act Summary here for an in-depth list of provisions and tax credits.

Check out Best Accounting Software’s US States’ Small Business Support Resource Center.

We understand many businesses are facing stressful times and are required to make difficult decisions. Our team is here to serve as a resource, guide and sounding board to identifying opportunities, options and strategies to minimize the COVID-19 impact. If you need assistance with an issue outlined above or have another concern, Barnes Dennig is here to help. Visit Barnes Dennig’s COVID-19 Blog for a comprehensive list of news and updates. Please contact our COVID-19 Advisory Team or any of our leadership team at Barnes Dennig to discuss.

What Our Clients Say

“I love communication: Matt exceeded all my expectations in this process. The PPP loan process he used was seamless, easy, and efficient.”

– Bernard M., Barnes Dennig Client

“Always quick on email response but also reached out in the midst of COVID to see how our business was doing and provided details on the PPP loan.”

– Barnes Dennig Client, 2020

“It was challenging to decipher all the government benefits in relation to COVID-19. Our Barnes Dennig representatives took time to meet with us on several occasions to explain the options and provide their deep analysis, so we could make the best decisions for our organization.”

– Jen A., Business Operations Director

Barnes Dennig COVID-19 Advisory Team Leaders

Given the size and complexity and scale of the government’s response to the pandemic, including the FFCRA, and the CARES Act, and the fact that the legislation was passed quickly, more guidance is needed and being published almost daily. The information on this page and in the pre-recorded webinars is subject to change. Please watch your email or visit our blog for more updates from us.