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MACOMB BUSINESS
Planning and Economic Development

 

Federal Government Resources
 

The CDC released new guidelines for "critical infrastructure workers" who may have been exposed to COVID-19:

https://www.cdc.gov/coronavirus/2019-ncov/community/critical-workers/implementing-safety-practices.html 

CDC - Interim Guidance for Businesses and Employers:

This interim guidance is based on what is currently known about the coronavirus disease 2019 (COVID-19). The Centers for Disease Control and Prevention (CDC) will update this interim guidance as needed and as additional information becomes available.

https://www.cdc.gov/coronavirus/2019-ncov/community/guidance-business-response.html?CDC_AA_refVal=https%3A%2F%2Fwww.cdc.gov%2Fcoronavirus%2F2019-ncov%2Fspecific-groups%2Fguidance-business-response.html


Review of Small Business Administration Relief Programs

Economic Injury Disaster Loan (EIDL)

  • Application on the SBA Website
  • Up to 6 months of operating expense not to exceed $2 million
  • Interest Rate 3.75%, 30 year fixed rate
  • No payments for first 12 months.
  • Option to get a $10k advance
  • Changes to the SBA EIDL Loan application
  • Anyone who previously applied under the old format should reapply if:
  • They were previously denied. The CARES Act loosened criteria and these applicants may now be eligible
  • They would like to be considered for the $10,000 automatically forgiven advance
  • The new format does not require any supporting documentation
  • Designed to be simple and take fear and frustration out of the application process

SBA Bridge Loan

  • Must have a current business relationship with a SBA Express Lender (contact them directly)
  • Loans up to $25,000
  • Term loan or gap loan until the EDIL is awarded

Payroll Protection Program

  • Application is through SBA Lender
  • 2.5 x average monthly payroll for prior 12 months
  • May be forgivable. If unforgiven, interest rate is .5% for a 2 year fixed rate
  • No payments for 6 months

SBA Debt Relief

  • For businesses with a current and new SBA 7(a) and 504 Loans
  • The SBA will also pay the principal and interest of new 7(a) loans issued prior to September 27, 2020.
  • The SBA will pay the principal and interest of current 7(a) loans for a period of six months.

Additional Resources:

 

U.S. Small Business Administration - Economic Impact Relief:

WASHINGTON – SBA Administrator Jovita Carranza issued the following statement today in response to the President’s address to the nation:

“The President took bold, decisive action to make our 30 million small businesses more resilient to Coronavirus-related economic disruptions. Small businesses are vital economic engines in every community and state, and they have helped make our economy the strongest in the world. Our Agency will work directly with state Governors to provide targeted, low-interest disaster recovery loans to small businesses that have been severely impacted by the situation. Additionally, the SBA continues to assist small businesses with counseling and navigating their own preparedness plans through our network of 68 District Offices and numerous Resource Partners located around the country. The SBA will continue to provide every small business with the most effective and customer-focused response possible during these times of uncertainty.”

SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance for a small business. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

https://www.sba.gov/about-sba/sba-newsroom/press-releases-media-advisories/sba-provide-disaster-assistance-loans-small-businesses-impacted-coronavirus-covid-19

Webinar: SBA’s Disaster Declaration Makes Loans Available Due to the Coronavirus (COVID-19):

https://www.macombgov.org/sites/default/files/content/government/business/Webinar%20Material-Coronavirus%2003.14.20.pdf


U.S. Chamber of Commerce

The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses.

https://www.uschamber.com/sites/default/files/023595_comm_corona_virus_smallbiz_loan_final_revised.pdf


U.S. Senate Committee on Small Business & Entrepreneurship: Small Business Provisions in Coronavirus Aid, Relief, and Economic Security (CARES) Act

American small businesses are facing an unprecedented economic disruption due to the novel coronavirus (COVID-19) outbreak. Cities and states have implemented mandatory closures of public spaces to ensure social distancing to prevent the spread of the virus, so those difficulties have only increased.

https://cdn.ymaws.com/www.nadco.org/resource/resmgr/2020/smallbuscom_caresactexplaine.pdf

https://www.sbc.senate.gov/public/_cache/files/9/7/97ac840c-28b7-4e49-b872-d30a995d8dae/F2CF1DD78E6D6C8C8C3BF58C6D1DDB2B.small-business-owner-s-guide-to-the-cares-act-final-.pdf


U.S. Department of Homeland Security - Cybersecurity and Infrastructure Security Agency (CISA):

The Cybersecurity and Infrastructure Security Agency (CISA) has identified 16 critical infrastructure sectors whose assets, systems, and networks, whether physical or virtual, are considered vital to the United States. This link provides additional information on each of these areas - https://www.cisa.gov/critical-infrastructure-sectors


U.S. Department of Defense - Memorandum for Defense Industrial Base
Subject: Defense Industrial Base Essential Critical Infrastructure Workforce:

https://media.defense.gov/2020/Mar/22/2002268024/-1/-1/1/DEFENSE-INDUSTRIAL-BASE-ESSENTIAL-CRITICAL-INFRASTRUCTURE-WORKFORCE-MEMO.PDF


FEMA Reimbursement: COVID-19 Public Assistance:

On March 13, 2020, President Trump declared a national emergency for the Coronavrius (COVID-19) Pandemic response to include the State of Michigan. The incident period began January 20, 2020 and is on going. What this means: Your organization can go as far back as January 20, 2020 for reimbursement.
 
The deadline to apply for this Public Assistance Grant Program is April 30, 2020.

https://www.macombgov.org/sites/default/files/content/government/ped/pdfs/FEMA%20Reimbursement%20COVID-19%20Public%20Assistance_4-13-20.pdf


House Republicans Provide Fact Sheet:

Ways and Means Republicans assembled a comprehensive FAQ to help explain how the federal government is responding to the coronavirus pandemic. It covers what small businesses, seniors, and workers need to know and is broken into sections about what Congress has passed, what Congress is going to do next, and what the Administration has done to help Americans fight this global pandemic.

https://files.constantcontact.com/2b27328a601/432a26d9-4e0f-43a9-9a21-c15682b22881.pdf


U.S. Equal Employment Opportunity Commission - What You Should Know About the ADA, the Rehabilitation Act, and COVID-19:

The EEOC enforces workplace anti-discrimination laws including the Americans with Disabilities Act (ADA) and the Rehabilitation Act, including the requirement for reasonable accommodation and rules about medical examinations and inquiries.

The ADA and Rehabilitation Act rules continue to apply, but they do not interfere with or prevent employers from following the guidelines and suggestions made by the CDC or state/local public health authorities about steps employers should take regarding COVID-19. Employers should remember that guidance from public health authorities is likely to change as the COVID-19 pandemic evolves. Therefore, employers should continue to follow the most current information on maintaining workplace safety.


OSHA Guidance:

Guidance on Preparing Workplaces for COVID-19.

https://www.osha.gov/Publications/OSHA3990.pdf