ShiftPixy’s Expertise in PPP Loans and CARES Act Benefits Ensures Positive Outcomes for Clients
May 28 2020 - 9:00AM
ShiftPixy (PIXY), a California-based gig engagement platform
provider today outlined, as part of its Restaurant Resilience Plan,
how the Company’s compliance and labor law knowledge is helping
client restaurant operators navigate the complex web of new
regulations attached to Paycheck Protection Program (PPP) loans and
other CARES Act benefits.
“PPP loans were a huge step in the right direction for
restaurant operators – but improper reporting and handling could
void the promised forgiveness small business owners are counting
on, leaving them with potentially huge problems post COVID-19,”
said ShiftPixy co-founder and CEO Scott W. Absher. “In order to
help hundreds of our restaurant operator clients prepare and
navigate these programs correctly, our team has become experts in
these programs and their parameters, as an extension of our
Restaurant Resilience Plan. We will be there to support our clients
throughout and after this trying time.”
The PPP provides loans designed to provide an incentive for
small businesses to keep workers on their payroll. The U.S. Small
Business Administration 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.
With ShiftPixy’s help, restaurant operators can focus on keeping
their business running instead of getting bogged down with
paperwork and complex legal hurdles. The Company’s unique gig
engagement platform empowers restaurant operators to take full
advantage of their human capital with powerful functionality to
handle payroll, compliance and native delivery.
Any customer of a ShiftPixy partner can sign up
for one of the Company’s weekly webinars hosted by co-founder Steve
Holmes, at https://shiftpixy.com/webinar-covid19/.
About ShiftPixy ShiftPixy (PIXY) is a
disruptive human capital management platform, revolutionizing
employment in the Gig Economy by delivering a next-gen mobile
engagement technology to help businesses with shift-based employees
navigate regulatory mandates, minimize administrative burdens and
better connect with a ready-for-hire workforce. With expertise
rooted in management's nearly 25 years of workers' compensation and
compliance programs experience, ShiftPixy adds a needed layer for
addressing compliance and continued demands for equitable
employment practices in the growing Gig Economy.
ShiftPixy Cautionary Statement The information
provided in this release includes forward-looking statements, the
achievement or success of which involves risks, uncertainties, and
assumptions. Although such forward-looking statements are based
upon what management of the Company believes are reasonable
assumptions, there can be no assurance that forward-looking
statements will prove to be accurate. If any of the risks or
uncertainties, including those set forth below, materialize or if
any of the assumptions proves incorrect, the results of ShiftPixy,
Inc., could differ materially from the results expressed or implied
by the forward-looking statements we make. The risks and
uncertainties include, but are not limited to, risks associated
with the nature of our business model; our ability to execute the
Company's vision and growth strategy; our ability to attract and
retain clients; our ability to assess and manage risks; changes in
the law that affect our business and our ability to respond to such
changes and incorporate them into our business model, as necessary;
our ability to insure against and otherwise effectively manage
risks that affect our business; competition; reliance on
third-party systems and software; our ability to protect and
maintain our intellectual property; and general developments in the
economy and financial markets. Statements made in connection with
any guidance may refer to financial statements that have not been
reviewed or audited. The Company undertakes no obligation to update
forward-looking statements if circumstances or management's
estimates or opinions should change, except as required by
applicable securities laws. The information in this press release
shall not be deemed to be "filed" for the purpose of Section 18 of
the Securities Exchange Act of 1934, as amended, or otherwise
subject to the liabilities of that section, and will not be deemed
an admission as to the materiality of any information that is
required to be disclosed solely by Regulation FD. Further
information on these and other factors that could affect the
financial results of ShiftPixy, Inc., is included in the filings we
make with the Securities and Exchange Commission from time to time.
These documents are available on the "SEC Filings" subsection of
the "Investor Information" section of our website at
https://ir.shiftpixy.com/financial-information/sec-filings.
Consistent with the SEC’s April 2013 guidance on using social media
outlets like Facebook and Twitter to make corporate disclosures and
announce key information in compliance with Regulation FD,
ShiftPixy is alerting investors and other members of the general
public that ShiftPixy will provide updates on operations and
progress required to be disclosed under Regulation FD through its
social media on Facebook, Twitter, LinkedIn and YouTube. Investors,
potential investors, shareholders and individuals interested in our
Company are encouraged to keep informed by following us on
Facebook, Twitter, LinkedIn and YouTube.
Media Contact:Amy Wang amy.wang@shiftpixy.com
(949) 245-7291
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