CORONAVIRUS AID, RELIEF AND ECONOMIC SECURITY (CARES) ACT

The $2 trillion aid package will provide financial aid to families and businesses impacted by the COVID-19 coronavirus pandemic. It includes four programs to assist businesses. These are:

• The Paycheck Protection Program
  • This program provides capital to cover the cost of retaining employees. Small businesses can receive a loan from the Paycheck Protection Program, which will be forgiven if the loan is used for:
    • Employee Compensation (salaries, commissions, and other compensation)
    • Healthcare Benefits, paid sick/medical/family leave, and insurance premiums
    • Interest payments on mortgages
    • Rent
    • Utilities
    • Interest on debt obligations
  • Emergency Economic Injury Grant
    • This grant provides a quick infusion of a smaller amount of cash to cover you right now.
    • It will provide an advance of up to $10,000 within 3 days of applying for the Grant.
    • The advance does not need to be repaid under any circumstance, and may be used to keep employees on payroll, to pay for sick leave, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent and mortgage payments.
  • The Small Business Debt Relief Program
    • To ease your fears about keeping up with payments on your current or potential SBA loan, this program provides immediate relief to small businesses with non-disaster SBA loans, in particular 7(a), 504, and microloans.
    • SBA will cover all loan payments on these SBA loans, including principal, interest, and fees, for six months.
  • Free Counseling
    • Free counseling & low-cost trainings provided by your local Small Business Development Center (SBDC), Women’s Business Center (WBC), or SCORE mentorship chapter.

SMALL BUSINESS ADMINISTRATION ECONOMIC INJURY DISASTER LOANS AND LOAN ADVANCE

In response to the COVID-19, small business owners in all U.S. states are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.

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

IRS CORONAVIRUS TAX RELIEF

• The Economic Impact Payments
• Changed Tax Deadline
• COVID-19 related Tax Credits.

https://www.irs.gov/coronavirus

OHIO LIQUOR BUYBACK

The Ohio Department of Commerce will immediately begin offering a one-time liquor buyback option to support bars and restaurants. Bars and restaurants wishing to take advantage of this opportunity should return their unopened, high-proof liquor products (obtained within the past 30 days) to the agency where they purchased the product. This opportunity is also extended to those with temporary (F2) permits for events scheduled between March 12 and April 6, 2020. If a business has questions about this program, they should reach out directly to the Liquor Enterprise Service Center (LESC) at 1(877)812-0013 or by emailing OhioLiquorInfo@Com.Ohio.gov or visit https://myemail.constantcontact.com/UPDATED-PROCESS–Wholesale-Return-Requests.html?soid=1102307935227&aid=nUu1rgD69DQ.

INFORMATIONAL RESOURCES

U.S. CHAMBER OF COMMERCE – COMBATING THE CORONAVIRUS

Resources regarding workplace safety, guides for SBA Economic Injury Disaster Loans and Employee Retention Tax Credit, and information on what businesses are doing to combat the coronavirus.

https://www.uschamber.com/coronavirus

U.S. DEPARTMENT OF LABOR – COVID-19 AND THE AMERICAN WORKPLACE

• Fact Sheets about the Families First Coronavirus Response Act: Employee Paid Leave Rights and Employer Paid Leave Requirements.
• Questions and Answers about the Families First Coronavirus Response Act, the COVID-19 and the Fair Labor Standards Act, and the COVID-19 and the Family and Medical Leave Act.
• COVID-19 related workplace posters.

https://www.dol.gov/agencies/whd/pandemic

CDC – COVID-19 GUIDANCE FOR BUSINESSES AND EMPLOYERS

Information on how to prepare the workplace for COVID-19 outbreak, reduce transmission among employees, maintain healthy business operations, and maintain a healthy work environment.

https://www.cdc.gov/coronavirus/2019-ncov/community/guidance-business-response.html

COVID-19 SMALL BUSINESS DEVELOPMENT CENTERS

Informational webinars and materials for small businesses on a variety of topics, including business interruption, supply chain disruption, HR Resources, Disaster Recovery Guide, shop local posters, and workplace COVID-19 preparation guides, etc.

https://americassbdc.org/coronavirus-information/

OHIO DEPARTMENT OF JOB AND FAMILY SERVICES – SHAREDWORK OHIO

SharedWork Ohio is a voluntary layoff aversion program. It allows workers to remain employed and employers to retain trained staff during times of reduced business activity. Under a SharedWork Ohio plan, the participating employer reduces affected employees’ hours in a uniform manner. The participating employee works the reduced hours each week, and the Ohio Department of Job and Family Services (ODJFS) provides eligible individuals an unemployment insurance benefit proportionate to their reduced hours. Interested employers provide ODJFS with a list of participating employees and specify their normal weekly hours of work, not to exceed 40 hours and not including overtime. Part-time employees may be eligible, but all employees in an affected unit must have their hours reduced by the same reduction percentage. Reduction percentages must be at least 10 percent but no more than 50 percent of the normal weekly hours of work.

http://jfs.ohio.gov/ouio/SharedWorkOhio/

OHIO DEPARTMENT OF JOB AND FAMILY SERVICES – OFFICE OF UNEMPLOYMENT INSURANCE OPERATIONS

• Resources for unemployed workers including finding a job, guide to unemployment insurance, and filing your weekly claims.
• Resources for employers and representatives including unemployment taxes and benefits, recruit and hire workers, and guide to unemployment insurance.

https://unemployment.ohio.gov/

OHIO DEVELOPMENT SERVICES AGENCY’S ECONOMIC DAMAGE ASSESSMENT SURVEY

This survey is for businesses, and after filling out the survey, federal, state or local agencies may reach out to you through the contact information provided if you indicate your interest. https://odsa.force.com/EDASurvey

OHIO DEPARTMENT OF JOB AND FAMILY SERVICES – UNEMPLOYMENT INSURANCE COVID-19 FORMS

Forms for employers to provide employees laid off because of COVID-19, and Q&A for workers and employers. http://jfs.ohio.gov/ouio/CoronavirusAndUI.stm?fbclid=IwAR1TvrdQew5Ze6orqygYb2UoW5WysBOSeDT69vaRAJ9KGRvFDF8UG7lw2OY