Paycheck Protection Program

Paycheck Protection Program (PPP) is a loan designed by the US Govt, and implemented by the SBA, to provide a direct and immediate incentive for small businesses to keep their workers on the payroll, and thus avoid large scale job losses, because the SMBs create over 50% of the total jobs across America.

SBA will forgive loans if all employees are kept on the payroll for eight weeks, and the money is used for payroll, rent, mortgage interest, or utilities.

You can apply through any existing SBA 7(a) lender, or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program.

Lenders may begin processing loan applications as soon as April 3, 2020.
The Paycheck Protection Program will be available through June 30, 2020.
Please check with your local lender whether it’s participating in the program.

Who Can Apply
The following entities affected by Coronavirus (COVID-19) may be eligible:

  • Any small business concern that meets SBA’s size standards (either the industry based sized standard or the alternative size standard)
  • Any business, 501(c)(3) Non-profit organization, 501(c)(19) Veterans organization, or Tribal business concern (sec. 31(b)(2)(C) of the Small Business Act) with the greater of: 500 employees, or that meets the SBA industry size standard if more than 500.
  • Any business with a NAICS Code that begins with 72 (Accommodations and Food Services) with more than one physical location, and employs less than 500 per location
  • Sole proprietors, Independent Contractors, and Self-employed persons.

Please see this page to learn more details. Thanks.

Lamfers & Maas, CPA in Sioux Falls, SD

Let Lamfers & Maas be the key to your tax planning. Our team of CPAs and accountant business advisors is based in Sioux Falls, SD. We are ready to listen to your goals and provide you with options to solve issues and simplify your life. Trust us for consistency and accuracy – our guarantee. Let us provide you with the peace of mind of knowing your tax and accounting matters are under control.
Lamfers & Maas knows your time and money
are important. Tell our public accounting experts your story and let us help your Sioux Falls business. Count on us for tax, audits, valuations in Sioux Falls and advice. Consistency and accuracy is our guarantee.
Lamfers & Maas CPAs and business advisors are professional and personal Sioux Falls accountants.
We work one-on-one with you and your business to find the areas that need attention. It’s how your business treats your clients and how we treat you.
You can relax with Lamfers & Maas working for you. Our rates are reasonable and our professional staff offer refreshing customer service. Your finances and taxes are taken care of so you can take time for yourself and focus on your business.
Eric Maas, CPA/MBA
Eric is the managing partner and directs the auditing and financial reporting services for the firm and also provides tax services to individual and corporate clients.
520 West 10th Street,
Sioux Falls, SD 57104
Phone: 605.332.8500

Ketel Thorstenson, LLP, CPA in Rapid City, SD

The rich history of change and growth has led to three name changes and seven building remodels/additions. In addition to growing the practice, the Partners of KTLLP continue to be visionaries and delve into business solutions for their clients outside of traditional accounting services.
Today the KTLLP family employs over 160 professional staff members, including 18 partners, and operates out of Rapid City, Spearfish, and Custer, SD. We are proud of our longevity and thankful for all of the clients who we consider as friends. KTLLP looks forward to many more years of continued growth serving the regional market.
Ketel Thorstenson, LLP (KTLLP) has been operating as an accounting practice in Rapid City in one form or another since 1936, when Harold Heims first opened the practice and hired A.C. (Bud) Thorstenson shortly after. The firm started in offices above the old North Western Warehouse, and then moved to space above Staple & Spice. The building at the current 810 Quincy Street address was constructed in 1966; the same year that Roy Ketel and Rich Siekman worked together to form a new partnership.
Pete Bergman, CPA
As an analytical accountant, Pete has been with the firm for over 35 years, primarily in the tax department. With this much experience under his belt and expertise in areas of partnership, corporate, and individual income taxes, he has grown to enjoy the challenges of his work. Pete is knowledgeable in both researching tax issues and solving complex tax problems.
Pete graduated with a bachelor of science in accounting from the University of North Dakota. He has a passion for playing foosball and enjoys hiking in the Black Hills as the hikes usually end up at a good restaurant.
Thank you for providing another great learning opportunity. I’m glad I came. I’m down in the weeds and it’s good to step back and get the big picture.
Carolyn Ness
Associate Director
Northern Plains Eye Foundation
810 Quincy Street
Rapid City, SD 57701
Phone: (605) 342-5630
FAX: (605) 342-2172