100GROUP is the first and only VIP business concierge offering the essential products and services that businesses depend on. A variety of offerings are available, including a single platform for credit card payment processing, VoIP (phone systems, SMS, and MMS), business insurance, HR, finance planning, and software integrations. With 100GROUP, all of these products and more are available through a single service provider in addition to their dedicated business concierge, available 24/7 365.

100GROUP was founded by Jeff Brodsly, a seasoned entrepreneur who has extensive experience in the credit card industry amongst other service businesses. Brodsly discovered that the luxury VIP customer service experience between business owners and vendors was severely lacking and virtually nonexistent. This gap in the service industry led to the birth of 100GROUP in 2021. Brodsly applies his experience-centric background to consolidate the niche market. The 100GROUP team is composed of seasoned professionals with decades of experience in a variety of industries. This business intends to help any company that uses credit cards to process payments using the most efficient and effective processes.

100GROUP caters to an exclusive list of clientele ranging from the largest names in sports, auto dealers, motorsports industry, 5-star restaurants and hotels, and the golf industry. They operate throughout the U.S. with offices in Atlanta and Michigan in addition to their main office in California.

100GROUP partners with a variety publications, notably engaging into an agreement with Modern Luxury in 2022. They have succeeded in striking deals with some of the top magazines like Modern Luxury’s Atlantan and Angeleno.

These magazines consider everything from restaurants, real estate, and all the areas of business that 100GROUP has an interest in. This sort of collaboration and media coverage by magazines of this caliber is a stamp of credibility on the services that 100GROUP provides. Luxury brands do not align themselves with brands without a solid and trusted track record, reputation, and credibility. 100GROUP has it all.

100GROUP is engaged in both the B2B and B2C models of business and is always looking for new opportunities to grow and invest in other businesses. By continuing to develop new strategic partnerships and alliances 100GROUP ensures that its customers continue to receive the best of the best in VIP products and service.

News you Can Use

As promised, our educational blogs cover important topics of running your business. We know that many of our clients took advantage of the PPP loans offered to help businesses stay afloat during the pandemic. Along with those loans came much confusion about whether it was forgivable and if so, how do you ask for forgiveness. We have some important information from the Small Business Administration (SBA) that includes a simple one-page forgiveness application. 

If your loan was less than $2m, you are likely eligible for complete forgiveness using this one-page form that eliminates complicated calculations previously required. In fact, it is so simple that small-business borrowers merely need to confirm that the PPP-loan proceeds were used for eligible costs, such as payroll, rent/mortgage and utilities. There is minimal documentation required to prove these expenses. In most cases, the application takes about 10 minutes to complete. We advise you to maintain underlying PPP records for six years as the SBA can audit your business with connection to this loan during that time period.

PPP loan proceeds could have been spent on payroll costs entirely and are always eligible for forgiveness when spent only on payroll, but small businesses were also able to use up to 40% of PPP loan funds on other qualifying expense, such as rent, business mortgage payments and utilities. 

Simplified Documentation 

If a small business used their entire PPP proceeds for payroll to yourself or your employees, you can simply submit bank statements or cancelled checks showing those payments from the business to the employee to document the qualifying payments. Payments to you as an owner are allowed. Keep in mind, the business owner’s payroll is capped at $20,833. 

Who Cannot Use the Simplified Application

The simplified application cannot be used by small businesses that reduced their full-time employee headcount from pre-pandemic levels or reduced the pay rate of employees greater than 25%. In these instances, PPP borrowers will need to use the standard PPP loan-forgiveness application, and qualifying payroll costs will be reduced based on pay rate decreases or full-time employee headcount decreases. For small businesses that can’t use the simplified 3508EZ application because their loan amount was greater than $2m will have to use a long form and should consult with your CPA.