Covid 19 Resources: Owners and employees can benefit from government programs, a business resilience guide, and more.
Owning a small business always has it hurdles but what we are facing now it’s a very challenging time. This week due to the outbreak of Covid-19, governor De Santiis make the decision to close down restaurant, bars, entertainment and recreational facilities in a effort to increase “social distancing”.
For us, small business owners, that means we have to let go some of our employees due to our closures; a very heartbreaking choice if you ask me. Also as we face closures we have to be prepared to get back on our feet and this is the time to educate ourselves with resourceful information. Here are helpful links to guide you to get help. I will be updating the list as new information comes along.
Payroll Protection Program The primary purpose of PPP loans is to help businesses retain their existing staff. Businesses who use the funds to do this may be eligible for a 100% forgiveness incentive.
Small Business Administration Disaster Loan SBA Economic Injury Disaster Loans offer up to $2 million in economic assistance to help small businesses overcome the temporary loss of revenue resulting from the disaster. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
Interest rates offered are as low as 3.75 percent for businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.
Loan amounts are set by the SBA and based on each applicant’s financial condition. Repayment terms are up to 30 years.
Florida Disaster Loan The Florida Small Business Emergency Bridge Loan Program is currently available to small business owners located in all Florida counties statewide that experienced economic damage as a result of COVID-19.
These short-term, interest-free working capital loans are intended to “bridge the gap” between the time a major catastrophe hits and when a business has secured longer term recovery resources, such as sufficient profits from a revived business, receipt of payments on insurance claims or federal disaster assistance.
Coronavirus Tax Relief The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus.
Short Term Compensation Program (FDEO) The Short Time Compensation Program is a voluntary employer program designed to help employers maintain their staff by reducing the weekly working hours during temporary slowdowns instead of temporarily laying off employees. If an employer establishes a Short Time Compensation Plan, and an employee meets the qualifications to file a re-employment assistance claim in the state of Florida, the employee will receive a partial re-employment check to supplement their reduced paycheck.
Florida Governor Website Up-to-date information about relief available in Florida
The Florida Small Business Emergency Bridge Loan COVID-19 The Florida Small Business Emergency Bridge Loan Program is currently available to small business owners located in all Florida counties statewide that experienced economic damage as a result of COVID-19. These short-term, interest-free working capital loans are intended to “bridge the gap” between the time a major catastrophe hits and when a business has secured longer term recovery resources, such as sufficient profits from a revived business, receipt of payments on insurance claims or federal disaster assistance.
Facebook Small Business Grants Program Facebook has committed to offering up to 30,000 small businesses $100 million in cash grants and Facebook advertising credits. The grants will be provided to businesses in more than 30 countries. Information is limited, but sign up to get more details from the company when they’re available.
Kiva is urging small businesses to apply for 0% interest loans of up to $15,000. The company is also offering a longer grace period: new borrowers can access a grace period of up to 6 months.
Opportunity Fund, which specializes in money lending to small businesses owned by women, immigrants and people of color, is collaborating with investors and nonprofits to put together a coronavirus relief fund that will provide grants and low-interest rate loans to business owners in need.
Disaster Unemployment Assistance Disaster Unemployment Assistance is a federally funded benefit program that assists individuals who become unemployed because of a disaster. Apply Online
Bartender Emergency Assistance Program During these uncertain times the USBG Foundation strives to be a resource for our bar industry community.
Children of Restaurant Employees (C.O.R.E.) CORE is a national nonprofit organization that is dedicated to granting support to food & beverage service employees with children, who are faced with life-altering circumstances and in need of our help.
James Beard Foundation Food & Beverage Industry Fund Providing micro-grants to independent food and beverage small businesses in need.
Florida Disaster Biz Managed by the Florida Department of Economic Opportunity (DEO), the Business Damage Assessment Survey evaluates businesses affected by COVID-19 and the impacts the virus is having on the local economy. The information gathered allows State Government to fully assess the comprehensive impact COVID-19 is having on Florida businesses and industries, then mobilize the appropriate resources to help alleviate those pressures.
Florida SBDC Network Upon the activation of federal and state disaster assistance, SBDC team of disaster specialists can assist you with preparing and submitting your loan application and with other post-disaster challenges.
National Small Business Association offer access to the latest resources, information, and best practices in advocacy and communications for their members, government offices, and the media.
Department of Labor The U.S. Department of Labor has resources to help workers and employers prepare for the COVID-19 virus (also known as novel coronavirus).
If you know any other helpful resource that can be added here, make sure to send it my way to firstname.lastname@example.org