COVID-19 Update

COVID-19 Update

Resources

Below are some ideas and resources that businesses can use to stay informed and prepare for COVID-19 closures. Please note, this is not a complete list of aid for businesses. Consider researching additional forms of aid for your business.


Coronavirus Planning, Response, and Recovery

  • Identify and protect critical business processes.

  • Think about potential measures:

    • Consider allowing office workers to telecommute.

    • Alternatively, consider splitting teams in different locations or changing shift patterns.

    • Account for financial, business, and personal impacts of these actions.

    • Avoid taking disproportionate measures

  • Employers can facilitate infection control by:

    •  Reminding employees to wash hands properly.

    • Urging employees to stay home if feeling ill.

    • Making flexible work arrangements available where possible.

    • Coordinating travel as limitations evolve.

    • Encouraging employees to receive flu vaccines.

    • Enabling use of telemedicine instead of hospital and emergency room visits.

    • Communicating sound information to counteract fear and stigma.

SBA Economic Injury Disaster Loan

  • The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).

CARES Act 

  • New $349 billion SBA lending program, modeled on existing program with 100% government guarantee as opposed to 75% guarantee on existing program. View link for a breakdown of qualifications and provisions. 

Husch Blackwell State-By-State COVID-19 Updates

  • Husch Blackwell has developed this resource center to monitor and update the rapidly-emerging COVID-19 rules, orders and guidance. These range from business restrictions and gathering limitations to full-scale shelter-in-place orders. The federal government and each state approach the issue differently and have developed varying definitions for “Essential Businesses” and “Essential Employees” which may be exempt. 

Facebook Small Business Grants Program

  • Facebook knows that your business may be experiencing disruptions resulting from the global outbreak of COVID-19. They are offering $100M in cash grants and ad credits to help during this challenging time. Visit the link to see if you qualify. 

Federal Income Tax Filing and Payment Deadline Extension

  • The Treasury Department and the Internal Revenue Service are providing special tax filing and payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for tax returns has been extended from April 15 to July 15, 2020. 

Lender & Corporate Small Business Assistance Programs

  • Many banks are offering assistance for both personal and business finances. View the link to see a list of national & regional banks offering assistance. Please check with local lenders for more information. 

Filing an Insurance Claim For Business-Interruption

  • We encourage you to check with your insurance provider to see if you are able to file a claim for business-interruption due to COVID-19. 

Reach Out to Your Local Chamber of Information
Call your chamber of commerce to hear about initiatives and programs for your local area. Many local agencies are interested in assisting small businesses in their area and may have ideas for how to assist your business during this time. 

Reach Out to Your Landlord
Communicate with your Landlord regarding your plans for rent payment. Work together to come up with a solution that can work for your business and theirs.

CDC COVID-19 Updates
For reliable information on the coronavirus, please visit creditable sources such as the one linked above. 
For local information on how to help your state become qualified for SBA Disaster Loan Assistance, please call your local Chamber of Commerce. They are working closely with their state of residence in order to get funding. You may be able to help move things along by signing a petition or completing a worksheet. For frequent updates, follow them on Facebook as well. 

For general information on how to prepare yourself and your business for COVID-19, view this helpful article here

MORE INFORMATION

For more information on Presidential & SBA Agency declared disaster areas, visit this link. Here you will be able to see if your state currently qualifies for SBA Disaster Loan Assistance and apply for a loan. Again, remember that these are first come first serve, please act quickly. Also, frequently check back to see when your state may qualify. 

If you are unfamiliar with the SBA Coronavirus (Disaster) Loan Assistance Program, view an informational PDF here

For local information on how to help your state become qualified for SBA Disaster Loan Assistance, please call your local Chamber of Commerce. They are working closely with their state of residence in order to get funding. You may be able to help move things along by signing a petition or completing a worksheet. For frequent updates, follow them on Facebook as well. 

For general information on how to prepare yourself and your business for COVID-19, view this helpful article here

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