Partnership closes the gap for thousands of eligible SMBs to access Employee Retention Credit
PHOENIX, AZ / ACCESSWIRE / May 25, 2022 / Business Warrior Corp. (OTC PINK:BZWR), the source for small businesses in America to get more customers, today announces it has partnered with Bottom Line Savings, a no risk, contingency-based cost savings company, to help small businesses access Employee Retention Credit (ERC) financial aid. Business Warrior also announces it has successfully closed its Regulation A round of funding and provides an update on legal proceedings.
The ERC is a stimulus program designed to help businesses that were able to retain their employees during the Covid-19 pandemic. Established by the CARES Act, the ERC is a payroll tax refund that small and mid-sized businesses can claim and do not need to pay back. It is based on qualified wages and healthcare paid to employees. Initially, under the CARES Act of 2020, businesses were not able to qualify for the ERC if they had already received a Paycheck Protection Program (PPP) loan. With new legislation in 2021, employers are now eligible for both programs, though the ERC cannot apply to the same wages as the ones claimed for the PPP.
Business Warrior is adding on to its existing Business Warrior Funding solution to push more government funding to eligible small businesses. Alongside Bottom Line Savings, Business Warrior is leveraging its existing network of over 40,000 small businesses, coinciding with the Company's overall mission of helping small businesses succeed in the United States through financial grants and tactical support.
"The ERC program is an extremely under-utilized and extremely valuable financial aid opportunity for small business owners to receive from the government," explains Business Warrior CEO Rhett Doolittle. "After identifying this opportunity to help more small businesses, developing a partnership with Bottom Line Savings was a no-brainer. Since 2008, they've recovered over $2.2 billion dollars for more than 7,000 clients - including American Express, Uber, and Rolex."
This partnership mirrors previous successful channel partnership deals from Business Warrior. In the last two years, the company has generated a total of $8 million from similar channel partnerships.
Doolittle continued, "We have been very fortunate to secure unique partnerships like this one with Bottom Line Savings. By using our own advertising budget and technology, it not only fits our company mission, but it's also a huge opportunity for us to get higher ROI from our leads."
To qualify as an employer, business owners must meet the following:
- Experience changes to your operations due to an Executive Order during 2020 or 2021; or
- Your gross receipts for 2020 fell below 50% for the same quarter in 2019 and fell below 80% for 2021.
To set up a call and see if your business qualifies for the ERC, go to:https://bottomlinesavings.com/businesswarrior.
Reg. A Funding Round Closed
Business Warrior's Regulation A round of funding dating back to March of 2021 has been completed. The Company successfully raised $3.5 million in funding during this time.
All Remaining Legal Proceedings Settled
In April 2022, the Company reached an agreement to settle a pending lawsuit with a third-party with whom Business Warrior worked. The settlement included a cash payment of $325,000 and 7.5 million shares of restricted common stock. The cash payment of $325,000 has been paid and restricted stock has been issued.
This settlement was the last remaining legal issue from the past for Business Warrior, leaving the Company with no remaining legal proceedings.
About Business Warrior
Business Warrior is a SaaS company providing small businesses in the United States with a suite of data-driven marketing and next-generation, funding solutions to boost local market dominance. Founded in 2014, Business Warrior is singularly focused on offering locally targeted lead generation marketing and funding solutions that fuel small business growth. By using next generation machine-learning and native software, Business Warrior has made growth funding and conversion marketing accessible for thousands of under-resourced and under-funded small business owners. For more information, visit BusinessWarrior.com.
About Bottom Line Savings
For over 15 years, Bottom Line Savings has served clients across many industries, from financial services, automotive, food service, not-for-profit, real estate, retail banking, hospitality, transportation, fashion, to professional sports and many more. Bottom Line Savings is a performance-based cost reduction consulting firm who prides themselves on delivering cost savings and value to its clients with no upfront fees. Bottom Line Savings get paid when you recover money. For more information, visit BottomLineSavings.com.
Forward Looking Statements:
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SOURCE: Business Warrior Corporation
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