Businesses answer a series of simple questions and receive worksheets that can help them determine whether they are eligible for loans from the Small Business Association (SBA) and tax relief under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the Families First Coronavirus Response Act (FFCRA).
SALT LAKE CITY, April 23 2020 – SixFifty, the technology subsidiary of the law firm Wilson Sonsini Goodrich & Rosati, today announced that it has released two free automated tools for businesses affected by the COVID-19 Emergency. The tools help businesses determine whether they are likely to be eligible for loans from the SBA and tax relief under the CARES Act and FFCRA. The new tools have been added to SixFifty’s suite of free products for businesses that are suffering because of the COVID-19 pandemic. SixFifty’s free products have been used by hundreds of businesses and include customizable employment policies and a questionnaire system for gathering information from employees.
SixFifty’s new SBA Loan Eligibility and Tax Relief products ask businesses a series of basic questions, such as whether they have fewer than 500 employees or whether they have been closed during the COVID-19 pandemic because of a government order. Based on the answers, the products generate customized worksheets that businesses can use to determine whether they are likely to be eligible for an SBA loan and tax relief under the CARES Act and FFCRA. While businesses may still need to work with an attorney or tax advisor to apply for an SBA loan or benefit from new tax relief provisions in the law, the worksheets can help businesses identify loans and tax benefits that may be available to them.
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the Families First Coronavirus Response Act (FFCRA) both contain provisions that apply to small businesses. Many small businesses, however, struggle to understand how the new laws apply. “It can be difficult for small businesses to identify which provisions of the new laws might help them in their specific situations,” explained SixFifty CEO Kimball Dean Parker. “We hope these new products will help small businesses to identify some of the resources that are available to them during this challenging time.”
In addition to free products for businesses, SixFifty has also released free products that help individuals who are struggling to pay their mortgage or rent because of the COVID-19 pandemic. The two products – Hello Lender (www.hellolender.org) and Hello Landlord (www.hellolandlord.org) – generate customized letters that homeowners can send to their mortgage companies and renters can send to their landlords. The letters assert the protections that are in place for renters and homeowners. The tools have already been used by thousands of people across the country.
Wilson Sonsini formed SixFifty in February 2019 to develop automated tools designed to make legal processes more efficient and affordable. SixFifty combines the expertise of one of the world’s leading technology law firms with technology such as automation to make the law more accessible to people and companies. SixFifty recently released a privacy suite that automates compliance with the California Consumer Privacy Act and the General Data Protection Regulation.
About Wilson Sonsini Goodrich & Rosati
For more than 50 years, Wilson Sonsini Goodrich & Rosati has offered a broad range of services and legal disciplines focused on serving the principal challenges faced by the management and boards of directors of business enterprises. The firm is nationally recognized as a leader in the fields of corporate governance and finance, mergers and acquisitions, private equity, securities litigation, employment law, intellectual property, and antitrust, among many other areas of law. With deep roots in Silicon Valley, Wilson Sonsini Goodrich & Rosati has offices in Austin; Beijing; Boston; Brussels; Hong Kong; London; Los Angeles; New York; Palo Alto; San Diego; San Francisco; Seattle; Shanghai; Washington, D.C.; and Wilmington, DE. For more information, please visit www.wsgr.com.
About SixFifty
Headquartered in the Silicon Slopes area of Utah, SixFifty is a subsidiary of Wilson Sonsini Goodrich & Rosati and combines the expertise of the world’s leading technology law firm, made accessible through thoughtful technology. Led by a group of lawyers and software engineers that believe the law should be easier to navigate, SixFifty streamlines complex areas of the law by providing actionable, efficient and affordable solutions for individuals and businesses. For more information, please visit www.sixfifty.com.
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