FEDERAL

Payroll Protection Program (PPP):

For small businesses with fewer than 500 employees and provides funds to cover payroll costs for up to 8 weeks. Funds can also be used to pay rents, mortgages, interest and utilities.

Information Sheet:   https://home.treasury.gov/system/files/136/PPP–Fact-Sheet.pdf

Borrower Application: https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Application-3-30-2020-v3.pdf

Economic Injury Disaster Loans and Loan Advance:

Provides an advance of up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties.

https://covid19relief.sba.gov/#/

SBA Express Bridge Loans

For small businesses that have an existing relationship with an SBA lender; may be able to access up to $25,000 quickly.

https://www.sba.gov/sites/default/files/2020-03/Express-Bridge-Loan-Pilot-Program-Guide-FINAL-3.25.20.pdf

SBA Debt Relief

The SBA is providing a financial reprieve to small businesses during the pandemic.

https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief

Emergency Family and Medical Leave Expansion Act:

Expands the FMLA to add qualifying reasons for leave related to COVID-19 and applies to employers with fewer than 500 employees. Employers should understand what is now covered. https://www.dol.gov/agencies/whd/fmla/pandemic

 

FLORIDA

The Florida Small Business Emergency Bridge Loan Program:

Up to $50,000 loan for eligible qualified small businesses with 2 – 100 employees.  Loans are for a 1 year term with low, if not 0%, interest rates.

https://floridadisasterloan.org/

Short-Time Compensation Program for Employees:

Helps employers maintain their staff by reducing the hours worked during a temporary economic downturn.

http://floridajobs.org/office-directory/division-of-workforce-services/reemployment-assistance-programs/short-time-compensation-program-for-employees

Unemployment Benefits:

Reemployment Assistance COVID-19 Frequently Asked Questions

http://www.floridajobs.org/docs/default-source/reemployment-assistance-center/ra-covid-19-faqs-eng.pdf?sfvrsn=805543b0_14

Sarasota CPA's - Gardener & Thomas

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