COVID-19 RESOURCES

RESOURCES

Small Business Loans – Where to apply:

• CARES Act Payroll Protection Program (Forgivable loan) – not yet available
  • To be available though all SBA lenders
  • Being severely impacted is not a requirement
  • Loan amount up to 2.5x of monthly payroll
• SBA Disaster Assistance
  • Available to apply here
  • MUST be severely impacted by COVID-19
  • This loan may not be “forgivable”
  • Loan amounts can be more than the amount though CARES Act funds
• NYC Small Business Continuity Fund
  • Application now open here.

Resources from Payroll Companies

• List of Financial Support Programs – Federal & State (Gusto)
• Gusto
• Justworks

Legislation Review

• SUMMARY BLOG : Families First Coronavirus Response Act
• SUMMARY BLOG: CARES ACT Payroll Protection Program

David C. Baker Resources:

• WEBINAR: COVID-19 Impact & Planning
• WEBINAR: Staff Reductions at your Agency

AMI Resources:  

COVID-19 Agency Survival Tools (Drew McLellan)

• Rent Reduction Tactics (pdf)

TIMELINE UPDATES

Friday March 27, 2020

• President signs into legislation CARES Act
• To grant $350b in federal funding through the SBA
• Funding is eligible for loan forgiveness
• Eligibility for all small and mid size businesses

Wednesday March 25, 2020

• Congress passes $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act
• $350 billion for small businesses
• We expect clarity of how there funds will be available to small businesses later this week.
• Payroll Protection Program – Loan Forgiveness

Friday March 20, 2020

• Tax Day is extended 90 days
• Filing and tax payment deadline is now July 15, 2020
• We recommend still filing extensions and saving estimated taxes.

Thursday March 19, 2020

• Families First Coronavirus Act is passed
• Paid sick leave is implemented for employers under 500 employees
• This will increase layoffs as employers will be fearful of covering these costs
• Families First Coronavirus Response Act

Tuesday March 17, 2020

• Treasury announced businesses can defer up payments to the IRS for 90 days – interest free interest-free (Notice 2020-17)