SMALL BUSINESS OWNERS
The U.S. Small Business Association, in consultation with the Treasury Department, has released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars.
Click here to view the simpler loan forgiveness application.
Click here to view the instructions for completing the simpler loan forgiveness application.
Click here to view the Interim Final Rule on the simpler forgiveness process for loans of $50,000 or less.
For specific questions regarding loans or financial assistance for your business, please contact your lender.
For a comprehensive summary of the loans and resources available to your business, please go to the SBA website here. Please be advised that if you apply for the Economic Injury Disaster Loans (EIDL), your advance will be determined by the number of your pre-disaster (i.e., as of January 31, 2020) employees. The advance will provide $1,000 per employee up to a maximum of $10,000.
For more information on federal loans and the Paycheck Protection Program, please click here.
If you’re a small or mid-sized business and want to learn more about the Main Street Business Lending Program, please click here.
If you have questions regarding stimulus payments, including qualifications and payment amount, please click here. Americans should have already received their economic impact payment. If you qualify for one and your payment has not yet arrived, please click here to use a tool from the IRS to check its status. Remember, look out for scams! The IRS will not call, text you, email you, or contact you on social media asking for personal or bank account information – even related to the economic impact payments.
If you are a social security beneficiary, you will NOT need to file a federal tax return to receive your $1,200 stimulus payment. Instead, the IRS will use your information already on file and send the payment as a check or electronic deposit, depending on how you would normally receive benefits. To read the full announcement, please click here.
If you are a military veteran who receives VA benefits and does not typically file tax returns, you will automatically get your economic stimulus payment in the method you normally receive benefits. However, if you have children under 17 who qualify to receive an extra $500 apiece, you will need to enter that information here to receive the additional payment.
The IRS has launched a web portal to help Americans who are not required to file tax returns get their stimulus payment as quickly and securely as possible. For more information on who should use this service, please click here.
POSITIVE CASES AND RESOURCES
To find the latest, up-to-date information on best practices and the number of positive coronavirus cases in the U.S., please visit the CDC website here.
As local, state, and federal governments coordinate to stop the spread of the coronavirus, it’s important that you know what to do if you’re experiencing symptoms of the virus. Please follow the recommendations of the CDC and Florida Department of Health, which are to contact your healthcare provider as soon as possible. If you do not have a healthcare provider or have additional questions, you may reach the 24/7 Florida Department of Health Call Center at 1 (866) 779-6121.
Congress and President Trump have approved numerous pieces of legislation to combat the coronavirus.
- President Trump has signed legislation to replenish the Paycheck Protection Program with $310 billion so that more small business employees across our country can draw a paycheck and receive the assistance they need to get through these challenging times. Importantly, small financial institutions, like credit unions and community banks, receive a $60 billion set-aside to provide PPP loans to the small businesses they serve locally. Also included in this legislation is $75 billion for hospitals and $25 billion for increased testing.
- Congress has passed and the president has signed the CARES Act. To see what was included in this landmark, bipartisan legislation, please click here. To learn more and see if you qualify for economic impact payments, please click here.
- President Trump has signed into law legislation which includes free coronavirus testing, paid sick leave, enhanced unemployment insurance, and food security for seniors, children, and low-income families. For more on this legislation, please click here.
- President Trump has signed emergency funding that includes more than $4 billion for diagnostic tests, vaccine developments, and treatments; $2 billion for CDC response efforts; and over $1 billion for the State Department and USAID to protect Americans abroad and prevent the spread of the virus worldwide.
- In late December 2020, Congress passed and the president signed bipartisan legislation that includes $284 billion for the Paycheck Protection Program, $29 billion for vaccine acquisition and deployment, $600 per person making under $75,000 annually to help stimulate the economy, and $300 per week in federal unemployment insurance, in addition to state unemployment benefits.
President Trump has also made a Major Disaster Declaration for the State of Florida. This will give local governments and individual Floridians access to more emergency resources as we work together to defeat this virus and revive our economy.
BUSINESS OWNERS AND EMPLOYEES
Are you a business owner or employee and have questions about how recent legislation will impact you? I have gathered a few resources below to help you navigate some of the new requirements. For a general overview of questions and answers, please click here.
If you are an employer, please click here.
If you are a federal employee, please click here.
If you are a non-federal employee, please click here.
LOCAL TESTING AND VACCINATION SITES