We Are Here For You!
Covid-19 Nation Wide Solutions for Small Businesses
Verizon Grant - THIS PROGRAM IS CLOSED
April 4th is the last day to apply for the Verizon grant. The link to apply is listed here: https://www.surveymonkey.com/r/LISCSBGrant It will ask you who shared this information with you. Please click: social share and then in the other box put Diverse Community Partners Inc. the next question will ask the person’s name – enter Joyce Saint-Cyr.
EIDL – Disaster Loan Application
The EIDL stands for COVID-19 ECONOMIC INJURY DISASTER LOAN and can be found here: https://covid19relief.sba.gov/#/ . Please remember to check the option for the $10,000.00 grant to be considered. If you are a client you should have received an email with your Income Statement and Balance Sheet that you will need to be considered for this grant. Please check your email for an email from admin@diversecommunitypartnersinc.com.
Red Backpack Fund
The Red Backpack fund was initiated by the Sara Blakley Foundation. Sara is the creator and CEO of Spanx. This is a grant (meaning it will not need to be paid back) being given to women entrepreneurs. Sara has set aside 1000 $5000 grants for women. They will begin taking applications on April 6th. Visit this link for more information or to apply: https://www.globalgiving.org/redbackpackfund/ .
The Golden Leaf Foundation – THIS PROGRAM IS CLOSED
The Golden LEAF Foundation has announced $15 million in funding to launch a rapid recovery loan program to Coronavirus (COVID-19). Golden LEAF funding will support the NC COVID-19 Rapid Recovery Loan Program by enabling loans to be made to eligible businesses for up to $50,000 with zero interest and no payments for six months. If not repaid in six months, the loan will automatically convert to a term loan. Click here (https://ncrapidrecovery.org/ ) to apply.
Coronavirus Aid, Relief, and Economic Security (CARES) Act
PLEASE NOTE: PPP Updated Information in regards to loan forgiveness as of 5/4/2020:
This FAQ was released from the Treasury. It looks like there is a new interim final rule that should be coming out with more details, but wanted to at least make sure you were aware.
"Question: Will a borrower’s PPP loan forgiveness amount (pursuant to section 1106 of the CARES Act and SBA’s implementing rules and guidance) be reduced if the borrower laid off an employee, offered to rehire the same employee, but the employee declined the offer?
Answer: No. As an exercise of the Administrator’s and the Secretary’s authority under Section 1106(d)(6) of the CARES Act to prescribe regulations granting de minimis exemptions from the Act’s limits on loan forgiveness, SBA and Treasury intend to issue an interim final rule excluding laid-off employees whom the borrower offered to rehire (for the same salary/wages and same number of hours) from the CARES Act’s loan forgiveness reduction calculation. The interim final rule will specify that, to qualify for this exception, the borrower must have made a good faith, written offer of rehire, and the employee’s rejection of that offer must be documented by the borrower. Employees and employers should be aware that employees who reject offers of re-employment may forfeit eligibility for continued unemployment compensation."
Congress’s latest coronavirus relief package, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, is the largest economic relief bill in U.S. history and will allocate $2.2 trillion in support to individuals and businesses affected by the pandemic and economic downturn. For information about the CARES act and where to apply click here: https://home.treasury.gov/policy-issues/top-priorities/cares-act/assistance-for-small-businesses
Pay your staff. Make rent. Keep the lights on.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act has 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 through the Small Business Administration (SBA).
Please open a NEW bank account for the SBA funds to be deposited into. If you have submitted your application and provided your operation bank account number please transfer the funds into a NEW account. Only pay the qualified expenditures [Payroll, Rent, Telephone, Utility, etc.] from this account, if you will seek to have the loan forgiven. PLEASE, do not use these funds for personal use or you will have to pay back the loan!!! If you do not have a TRUE payroll account, contact us to set it up!!!!! Do not consider Draw Distributions as payroll!! It is not the same!
Email support@diversecommunitypartnersinc.com if you have questions.
Cardi B and the Fashion Nova $1000 / Hour until 1 Million is Gone
Cardi B and Fashion Nova are giving away 1K/hour until some time in may totaling 1 million dollars. Apply here today: https://www.fashionnova.com/pages/cares
Facebook Business Grant
Facebook is offering $100M in cash grants and ad credits to help during this challenging time. For details go here: https://www.facebook.com/business/boost/grant
Google Ad Credit
$340 million in Google Ads credits available to all SMBs with active accounts over the past year. Credit notifications will appear in their Google Ads accounts and can be used at any point until the end of 2020 across our advertising platforms. We hope it will help to alleviate some of the cost of staying in touch with their customers.
Yelp Ads
Yelp created a $25 million fund to provide relief to independently owned restaurant and nightlife businesses and franchisees with fewer than five locations in the form of waived advertising fees and free advertising, products, and services during this period.
Industry-Specific Resources
Wellness Relief Fund
Reclamation Ventures opened a grant opportunity to cover one month of missed revenue (up to $2,500) for wellness spaces and wellness instructors that represent underestimated communities. Applications will be open until April 30. Click here to apply.
Are You In Need Of Emergency Financial Resources To Help With COVID-19 Hardships?
State of Florida
Florida Small Business Emergency Bridge Loan Program
Apply by May 8, 2020Loans of up to $50,000 — $100,000 in certain special cases — are available to coronavirus-affected small businesses. The loans are meant to serve as short-term funding that can be repaid once businesses can access alternative funding. Loans are interest-free for one year; after that, the interest rate rises to 12%.
http://floridajobs.org/rebuildflorida/businessrecovery
WBEC
Florida ((Florida, with the exception of the Panhandle, Puerto Rico, US Virgin Islands) https://www.wbecflorida.org/cover-19%20resources
Florida Tax Assistance
The Florida Department of Revenue dedicated a team to address tax-related issues surrounding COVID-19. To contact the team, email covid19taxhelp@floridarevenue.com.
Short-Time Compensation Program
The Short-Time Compensation Program allows an employer to divide the available work or hours of work among a specified group of affected employees in lieu of a layoff, and it allows the employees to receive a portion of their Unemployment Insurance benefits while working reduced hours.
To apply, visit the Employer Login page of CONNECT.
Florida – Small Business Emergency Bridge Loan Program
The Florida Small Business Emergency Bridge Loan Program is activated to support small businesses impacted by COVID-19. The program provides short-term, interest-free loans to small businesses that experienced economic injury. Employers with two to 100 employees can apply for loans up to $50,000. The loan is interest free for up to one year. To be eligible, your business must have been established prior to March 9, 2020.
The application period runs through May 7, 2020. To apply, click here.
District of Columbia, Maryland, Virginia
WPEO – DC
To Apply Click Here: https://wpeo.us
California
San Francisco COVID-19 Small Business Resiliency Fund
To Apply Click Here: https://oewd.org/covid-19-small-business-resiliency-fund
City of Los Angeles Small Business Emergency Microloan Program
https://ewddlacity.com/index.php/microloan-program
Businesses and microenterprises in Los Angeles that are responsible for providing low-income jobs can get anemergency microloanof $5,000 to $20,000. Loans with repayment terms of six months to one year carry an interest rate of 0% and five-year loans have interest rates of 3% to 5%
Unemployment Insurance Work Sharing Program
Employers who are considering laying off employees due to a slowdown in business from the coronavirus can apply for the UI Work Sharing Program, which partially offsets reduced worker hours and wages with UI benefits. The program allows you to retain trained employees and quickly prepare for when business improves. You can apply for a Work Sharing plan by completing the application and mailing it to the address on the top of the form.
Rapid Response Program
Rapid Response meets with business owners onsite to discuss strategies for avoiding potential layoffs and assist in providing further training to employees to increase the competitiveness and profitability of the business.To get started, contact America’s Job Center of California.
San Francisco Small Business Recovery Fund
The Office of Economic and Workforce Development created the Small Business Resiliency Fund to offer up to $10,000 in emergency grants for businesses affected by COVID-19. You must be able to show a loss in revenue to be eligible for the grant.To learn more about the grant, visit the COVID-19 Small Business Resiliency Fund site.
Connecticut
Disaster Relief Fund
Small businesses and nonprofit organizations in Connecticut that have been impacted by COVID-19 are eligible for disaster relief loans of up to $2 million from the U.S. Small Business Administration. Apply for funding by visiting the SBA Disaster Assistance page.
Connecticut Tax Extensions
Deadlines for filing and payments associated with certain state business tax returns due on or after March 15, 2020 are extended by at least 30 days. You do not need to take action to receive the extended due date, but if you have questions, visit the Connecticut State Department of Revenue Services website to learn more.
Maryland
Tax Extensions
The due date for individual and business tax returns has been extended to July 15, 2020. No application for the extended due date is needed.
Work Sharing Program
The Work Sharing Program allows an employer to divide the available work or hours of work among a specified group of affected employees in lieu of a layoff, and it allows the employees to receive a portion of their Unemployment Insurance benefits while working reduced hours.
A minimum of two employees are required for the program. To apply, email ui.worksharing@maryland.gov and a representative will contact you.
Massachusetts
Loan Fund
Gov. Charlie Baker announced a $10 million loan fund to help support employers whose businesses have been impacted by COVID-19. Massachusetts-based businesses with under 50 employees will be able to receive up to $75,000 in emergency funding. If you are eligible, you will receive the funds immediately and have no payments for six months.
To apply for the loan, visit the Massachusetts Growth Capital Corporation’s COVID-19 page.
WorkShare Program
The WorkShare Program allows an employer to divide the available work or hours of work among a specified group of affected employees in lieu of a layoff, and it allows the employees to receive a portion of their Unemployment Insurance benefits while working reduced hours.
The plan is valid for 52 weeks. To be eligible, you must have a positive reserve balance and be up-to-date with your unemployment insurance contributions. Log in to your UI Online account to apply.
North Carolina
City of Charlotte Micro Business Relief Fund
Our collective efforts are accelerating in response to COVID-19’s ramifications, and we are pleased to announce the City of Charlotte has partnered with LISC to deploy the Micro Business Relief Fund (MBRF). The MBRF is a $1,000,000 fund created to provide grants to support microenterprises financially impacted by COVID-19. The fund will provide grant capital up to $10,000 to eligible entities to assist in meeting urgent needs. Funds may only be used for ongoing operational costs such as payroll, vendors, utilities, and rent. The Fund is made possible by Community Development Block Grant (CDBG) funding provided by the Department of Housing and Urban Development. CDBG is a type of federal funding with specific funding eligibility criteria. Click Here forApplication and Information
Texas
Shared Work Program
The Shared Work program allows an employer to divide the available work or hours of work among a specified group of affected employees in lieu of a layoff, and it allows the employees to receive a portion of their Unemployment Insurance benefits while working reduced hours.
The percentage of reduced hours can be different for different individuals, as long as the reduction in normal weekly hours ranges from 10 percent to 40 percent each week. To apply for the program, log in to Employer Benefits Services and submit your Shared Work Plan online.
Pandemic Unemployment Compensation
The Federal Pandemic Unemploment Compensation Program or FPUC, provides a $600 supplement per week to any individual eligible for any of the Unemployment Compensation programs - State and Federal.
Pandemic Unemployment Assistance or PUA, is the program that will provide unemployment benefits to those not ordinarily eligible for them. This includes individuals who are self-employed, gig-workers, 1099 independent contractors, employees of churches, employees of non-profits, or those with limited work history who will not qualify for state unemployment benefits.
States:
North Carolina: Click Here For Information
Florida: Click Here For Information
South Carolina: Click Here For Information
Georgia: Click Here For Information
California: Click Here For Information
Texas: Click Here For Information
Tennessee: Click Here For Information