Speaker: Nima Alipour, Hybrid Health System
Why did my business qualify for the ERC and why I didn’t claim it on my own?
Nima Alipour: Our business is an urgent care clinic. We qualify for the ERC Because we were considered an essential business. Of course we're frontline clinicians here but in the initial phase of the pandemic during the lockdown um People weren't leaving their homes. We had no covid tests available. So our business almost came to a standstill. We typically operate from 8am to 8pm During that period we had to shut down essentially at 4pm. It cut hours for our hourly employees. As it pertains to the business things picked up when we had covid tests available. But then I had employees and staff out there in tents and lobby doing covid tests on. People were frontline swabbing people who coming around the clinic. And so naturally our employees then began contracting covid. So we essentially have a supply chain disruption of covid tests PPE's So with one of the things that the business concierge team explained to us was that yes you're eligible for the credits. If you experience a significant decline in gross receipts compared to the same quarter of the prior year. But supply chain disruptions and other scenarios also allowed us to qualify. So this was a great lifeline for our clinic to to get some extra funding. And so why didn't I call clement on my own? Well for starters we weren't aware that you could get the PPP Loans and then now that we're actually eligible for different type of funding. That was the first thing that was brought to our attention. and the second part is there's a lot of nuances. There are other vendors who are telling us that, you know, you can just check these boxes and you're eligible. But um there were certain other questions we had that the um concierge team here helped answer for us and it was just a lot of work, a lot of just work that they did on there and to kind of walk us through the process securely upload documents. It was just a seamless process.
Why Did I choose the BCT?
Nima Alipour: Why did I choose the BCT The business concierge team? Well for starters I trusted them. One of their business partners is somebody that I've done work with in the past so who better to work with than people you know. But once we started working together it was clear that this is a complicated process ERC qualifications and limitations. They've been amended by Congress multiple times. Especially you know since then the rollout of ERC And the fact that it's related to our payroll not our income taxes and our income tax returns required payroll tax filings that you know certain cps just weren't familiar with. These guys at bct knew what they were doing. So I was confident that they helped get us the full amount that our business was eligible to receive.
How long did it take me to get my funds and what was the process like?
Nima Alipour: So how long did it take me to get my funds? And what was the process like? The process was straightforward. These guys walked us through every step, every tax forms that we needed to fill out. They kind of walked my team through it. Our finance team in houses as cautious as they get, so the fact that they felt comfortable uploading sensitive financial information, I think it speaks volumes. So the process is straightforward. As far as timeline goes, we're at the waiting phase right now, we submit everything, we know what we're eligible for. And the business concierge team keeps in touch with some folks that they work with on the funding side at the IRS And they keep us posted of our status along the way.