New funds have been added to the Paycheck Protection Program (PPP) as part of the $900 billon COVID-19 relief package passed in December 2020. In this second round of funds, called PPP-2, small businesses can now use these funds for cloud & software upgrades.
“Covered operations expenditures (payments for any business software or cloud computing service that facilitates business operations, product or service delivery, the processing, payment, or tracking of payroll expenses, human resources, sales and billing functions, or accounting or tracking of supplies, inventory, records and expenses)”, referenced on page 49 of Business Loan Program Temporary Changes; Paycheck Protection Program as Amended by Economic Aid Act.
Many businesses were suddenly faced with new challenges when shifting to remote work caused by the pandemic. Companies that were still using on-premise technology were at a disadvantage.
PPP-2 now offers small and midsize companies new ways to modernize their operations and use funds to migrate to cloud technologies. Now is the perfect time to review your technology strategy and determine how cloud technology can help your business in 2021.
With our vIDix Cloud Services option, we will manage all the technical details of patches and updates. Our private cloud provides the security and safety your organization deserves. Our Cloud Services option protects your data. Your information is backed up to regional data centers, providing integrity and geographic redundancy of your data. It is a safe and effective way to budget your technology and infrastructure costs into one simple monthly payment. You maintain complete control of your information while we keep your application(s) running smoothly and effectively.
Contact us at sales@bankoe.com or 952-888-6688