MCAC IS WORKING TO RESPOND QUICKLY TO THE COVID-19 PANDEMIC TO SUPPORT YOUR BUSINESS. WE ARE IN THIS TOGETHER!
KANSAS NEWS UPDATES
Governor of Kansas Executive Orders: https://governor.kansas.gov/newsroom/executive-orders/
Kansas Essential Functions
The State of Kansas has established guidelines for determining which businesses provide functions considered “essential”. This determination is based upon the Kansas Essential Functions Framework (KEFF). For the safety of your employees and the public, it is critical that as many individuals as possible remain at home.
National COVID-19 Resources:
Federal and state government entities and nonprofits are working together to control the spread of the coronavirus and to support the businesses and individuals impacted by the virus and/or the protective measures being taken.
Presidential Actions: https://www.whitehouse.gov/presidential-actions/
HOUSE BILL H.R. 6201 LINK
Small Business FAQ & Loans: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources
LOCAL FINANCIAL RESOURCES
MONTGOMERY COUNTY CDBG SMALL BUSINESS RELIEF LOAN FUND
For small businesses not covered under the HIRE program above, we have limited funds available for rapid response working capital loans for businesses affected by COVID-19. We have very limited funds, so these funds will be disbursed in small amounts, to help as many businesses as possible. These loans for for businesses with 5 or fewer employees, including owners. Terms will likely be set at 36 months at 1% interest. There will be no principal or interest payments for the first four months. The first round of applications will be considered on Monday, March 23rd.
To apply click the link below.
Small Business Development Center Assistance
Find valuable resources that can assist you in as you navigate this crisis with your Small Business. Find resources for applying for aid, navigating the FFCRA and CARES Act new regulations and much more.
Check with your local Chamber office for more information on local resources to help your business: https://indkschamber.org/, http://www.cherryvaleusa.com/, https://www.caneyks.com/or https://coffeyvillechamber.org/.
HUMAN RESOURCES / UNEMPLOYMENT INFORMATION
Layoff Spreadsheet: https://www.kansasemployer.gov/uitax/Tax/LayoffSelect.aspx
(ensures all employees receive unemployment as fast as possible):
Shared Work Program: https://www.dol.ks.gov/employers/shared-work-program
Unemployment Information: https://www.dol.ks.gov/covid19response
HEALTH AND SAFETY
Health Recommendations for Montgomery County: http://mgcountyks.org/county-depts/health-department
Interim Guidance for Businesses and Employers (from the CDC): https://www.cdc.gov/coronavirus/2019-ncov/community/guidance-business-response.html
How to clean and disinfect (CDC Recommendations): https://www.cdc.gov/coronavirus/2019-ncov/community/organizations/cleaning-disinfection.html
CDC Protection Tips:
Check the CDC’s Traveler’s Health Notices for the latest guidance and recommendations.
Employers should educate staff and workers performing cleaning, laundry, and trash pick-up activities to recognize the symptoms of COVID-19 and provide instructions on what to do if they develop symptoms. https://www.cdc.gov/coronavirus/2019-ncov/symptoms-testing/index.html
Consider cross training employees for key functions so that daily schedules be relatively uninterrupted in case of absence.
Can your employees work remotely? Considering this option may help families who cannot obtain childcare during the recommended social distancing and can help sustain your business.
Review your sick leave and absentee policies to ensure employees do not feel encouraged to come to work while sick.
Resources for Businesses
- Funding Options for businesses - Here are all of the SBA Funding options available to your business:
- A 30 year loan at 3.75% interest to help businesses cover 6 months of operating expenses
- This loan program provides loan forgiveness for retaining employees by temporarily expanding the traditional SBA 7(a) loan program.
Here is a great document with Frequently Asked Questions that might be helpful:
Get more details from Congressman Marshall's office.
- Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
- The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic.
- Federal Deposit Insurance Corporation (FDIC) is working with regulated financial institutions to help them meet the needs of their customers.
Process for Accessing SBA’s Coronavirus (COVID-19) Disaster Relief Lending
The U.S. Small Business Administration is offering Kansas businesses low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).
- Disaster Loan Assistance Available: Economic Injury Disaster Loans (EIDLs) – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.
- Credit Requirements:
- Credit History – Applicants must have a credit history acceptable to SBA.
- Repayment – Applicants must show the ability to repay the loan.
- Collateral – Collateral is required for all EIDL loans over $25,000. SBA takes real estate as collateral when it is available. SBA will not decline a loan for lack of collateral, but SBA will require the borrower to pledge collateral that is available.
- Interest Rates:
- The interest rate is determined by formulas set by law and is fixed for the life of the loan. The maximum interest rate for this disaster is 3.75 percent.
- Loan Terms:
- The law authorizes loan terms up to a maximum of 30 years. SBA will determine an appropriate installment payment based on the financial condition of each borrower, which in turn will determine the loan term.
- Loan Amount Limit:
- The law limits EIDLs to $2,000,000 for alleviating economic injury caused by the disaster. The actual amount of each loan is limited to the economic injury determined by SBA, less business interruption insurance and other recoveries up to the administrative lending limit. SBA also considers potential contributions that are available from the business and/or its owner(s) or affiliates. If a business is a major source of employment, SBA has the authority to waive the $2,000,000 statutory limit.
- Loan Eligibility Restrictions:
- Noncompliance – Applicants who have not complied with the terms of previous SBA loans may not be eligible. This includes borrowers who did not maintain required flood insurance and/or hazard insurance on previous SBA loans.
- Note: Loan applicants should check with agencies / organizations administering any grant or other assistance program under this declaration to determine how an approval of SBA disaster loan might affect their eligibility.
- Economic injury disaster loans cannot be used to refinance long term debts.
SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal government’s coordinated response, and the SBA is strongly committed to providing the most effective and customer-focused response possible.
For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail email@example.com
Federal COVID-19 Resources
Health and Safety
- Information on Coronavirus Disease 2019 (COVID-19) Prevention, Symptoms and FAQ
- Share Facts about COVID-19
- CDC Coronavirus Disease 2019 (COVID-19) Web page
- John Hopkins provides information on the virus, treatment and research.
- Visit the Mayo Clinic for information on symptoms and treatment.
- Administration for Community Living offers information for older adults, and people with disabilities.
- Centers for Disease Control and Prevention (CDC) is studying the virus worldwide and helping communities respond locally. Check the CDC’s Coronavirus Disease 2019 (COVID-19) page for news and guidance.
- Corporation for National and Community Service guidance for volunteers and programs.
- Defense Commissary Agency is ensuring the quality and safety of food available at commissaries world-wide.
- The Department of Energy is researching COVID-19 at the National Labs.
- The Department of Health and Human Services Office of the Assistant Secretary for Preparedness and Response (ASPR) is developing new medical treatments.
- The Department of Homeland Security is facilitating a whole-of-government response in confronting COVID-19
- The Department of Labor has information for employers and workers on preparing workplaces and responding to COVID-19 in the workplace.
- The Environmental Protection Agency has information about disinfectants that can kill COVID-19 and facts about water safety.
- The Food and Drug Administration is working with the medical industry to develop vaccines, drugs, and diagnostic tests. For healthcare professionals, they offer FAQs about diagnostic testing.
- The Military Health System offers health advice, and updates on travel restrictions for members of the military.
- The Navy and Marine Corps Public Health Center published guidance for healthcare providers.
- U.S. Department of Agriculture answers questions about food safety and pet safety.
- U.S. Fire Administration published infection control guidance for first responders.
Travel and Transportation
- Federal Aviation Administration (FAA) offers guidance for air travelers.
- Federal Transit Administration (FTA) offers guidance to transit agencies.
Money and Taxes
- Internal Revenue Service (IRS) advice for deducting COVID-19 costs from your taxes.
- Trump Administration to delay tax payments for most individuals.
- The Department of Housing and Urban Development (HUD) issued guidance for public housing authorities, landlords, shelters, non-profits, grantees, and stakeholders.
- Department of State is working with international governments to combat COVID-19 and has also issued travel advisories.
- U.S. Agency for International Development (USAID) is providing funding to international organizations to combat COVID-19.
- OSHA COVID-19 Resources
- Some states are extending unemployment benefits to those quarantined or laid off due to COVID-19.