At Infintech, there is no higher priority than the safety and well being of our merchants and employees. As concerns about COVID-19 continue, we want to share steps we have taken to help prevent the potential spread of the virus and share resources that can help minimize impacts to your business.
Click below for important updates and resources.
At Infintech, we want you to know that we are here for you during this critical time. We are committed to running business as usual – even though it’s remotely – and we want you to succeed now more than ever and come out even stronger on the other side of this pandemic.
Please know that Infintech is here to help in the following ways:
- Our payment processing advisors are available to assist their clients and prospects. They are more than happy to have appointments over-the-phone or through videoconferencing. They will make sure all merchants get the appropriate solutions needed for their businesses.
- We pride ourselves on our customer service, and we want our merchants to know that our support team is also available to answer any questions they may have.
- All our services can be customized to seamlessly integrate into multiple ERP systems, accounting and billing software, eCommerce platforms and more. We are here to tailor our solutions to fit your needs during this uncertain time.
- Mobile POS – Take Business to the Curb – Infintech’s mobile point-of-sale solutions allow your customers to accept payments via curbside, takeout, or delivery. Our card readers link to your phone or tablet via Bluetooth and accept mag-stripe, chip cards, and contactless payments.
- Digital Invoicing Solution Improves Cash Flow – Our digital invoice solution allows you to create and send an email invoice to customers who can pay anywhere, anytime. Cash flow is vital in these uncertain times, and invoicing can help you get paid faster.
- Level 3 Makes Positive Impact to Your Bottom Line – Credit card networks give the lowest rates to companies that provide additional line-item detail on certain business and corporate card transactions. We are experts at interchange solutions, and we will help you instantly see an impact to your bottom line.
As we continue to fight through this pandemic as a country and as a world, we just want you to know that we are here for you. We will provide solutions that can help companies adapt while finding ways to save money – keeping their business viable.
At Infintech, we’re committed to helping merchants navigate this difficult time by sharing vital business information. The following is a list of federal assistance programs that are providing support to small- and medium-sized businesses.
Update: President Trump signed a nearly $500 billion bill into law Friday, April 24 that includes $320 billion to fund the depleted Payment Protection Program (PPP) and $60 billion will be added to the Economic Injury Disaster Loan Funds (EIDL).
1. Economic Injury Disaster Loans (EIDL) Loans Notice: Lapse in Appropriations
The U.S. Small Business Administration (SBA) is unable to accept new applications at this time for the Economic Injury Disaster Loan (including EIDL Advances) based on available appropriations funding. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis.
This EIDL loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary loss of revenue.
- For businesses with 500 or less employees
- Businesses include sole proprietorships, independent contractors and self-employed persons, private non-profit organizations or 501c (19) veterans organizations
- The loans can be used to pay fixed debts, payroll, accounts payable, and other bills
- This loan advance will not have to be repaid
Click here for the official SBA program details.
Apply for the EIDL loan.
2. Payment Protection Program (PPP) Notice: PPP Resumed on April 27 at 10:30 am
This program provides loans to guarantee eight weeks of payroll and other costs to help businesses remain viable.
- For businesses with 500 or less employees
- PPP loans are available for the lesser of $10 million or 2.5 times your average monthly payroll
- 100% of your loan could be forgiven if funds are used for payroll, rent, utilities, etc.
- Lenders are now accepting applications from now until June 30, 2020
- You can apply for both a PPP and EIDL loan if you wish
Click here for official SBA program details.
Apply for the PPP.
Locate an approved lender with the SBA’s lender search tool.
3. Stimulus Checks Through the CARES Act
Congress passed a $2 trillion stimulus package on March 27, 2020. The law, known as The Coronavirus Aid, Relief, and Economic Security (CARES) Act, provides for direct cash transfers to each adult.
- No need to apply
- Help for taxpayers, businesses, tax-exempt organizations and others – including health plans
- Available for anyone who makes less than $75,000 per year or $150,000 per couple
- Funding is $1,200 per adult and $500 per child for each qualifying adult
- IRS is distributing funds via check or direct deposit
Click here for the official IRS details.
4. Expanded Unemployment Benefits Through the CARES Act
The CARES Act also provides for expanded unemployment benefits.
- Available for W2 employees and 1099’s with reduced income
- An additional $600 per week on top of any state-provided unemployment benefits through July 31, 2020
- Unemployment benefits for self-employed and gig workers
To apply, go through your state employment program.
5. Refundable Tax Credits for Employers
New tax credits are available for employers with 500 or fewer employees. This includes a 100% tax credit for qualified paid sick leave expenses and two-thirds of expenses for those caring for family members.
- Tax credit is refundable for employers whose credits exceed their liabilities
- Self-employed are also eligible for tax credits
- 100% of expenses for self-isolation
- $511 per-day per-employee for quarantine and care
- $200 per-day per-employee for care of family members
- 100% tax credit for qualified family and medical leave expenses
- Capped at $200 per-day per-employee
- Maximum is $10,000 per quarter
Click here for more information.
March 23, 2020
Dear Valued Customer,
We know you are receiving many updates from various companies about their COVID-19 practices, and we wanted to share our practices with you. Rest assured, our offices are open for business and our customer support is operating fully 24/7. We have extensive redundancy plans to alleviate interruptions and your level of support will not decline in any way. We are confident that we will maintain the highest level of customer satisfaction and continue our best practices.
We believe it is important for us to share our actions that we are taking as an organization in this changing world. Our efforts include:
- We continue to closely monitor the reports from the Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO).
- We continue to practice social distancing.
- We continue to sanitize and deep clean our work areas and our point of sale equipment areas.
- We continue to abide by the CDC recommendations and encourage our employees to work from home should they feel sick or unsafe.
It is important for you to know that we are continuing to provide you with personal customer service and we are here to keep your transaction processing at the high levels that you have come to expect. We at Infintech and i3 Verticals hope you and your close ones will be safe as we navigate through this together.
We appreciate and value your business.
CEO – Infintech