COVID-19 - What You Need to Know TODAY April 14, 2020April 14, 2020
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There has been a great deal of emphasis on the Paycheck Protection Program (PPP) that is being administered through the Small Business Administration (SBA), and there should be. This program will be extremely helpful to our business community. There is another program that could be equally as helpful, it is administered through the Texas Workforce Commission (TWC) and it is called the Shared Work Program.
The Shared Work Program allows employers to supplement their employees’ wages lost because of reduced work hours with partial unemployment benefits. If an employer is forced to reduce normal weekly hours for employees in an affected unit by at least 10%, but not more than 40%, they may qualify. The reduction must affect at least 10% of the employees in that unit. For more information or to find out if you qualify, please CLICK HERE.
FEDERAL & STATE UPDATES FOR BUSINESS
Yesterday, Governor Greg Abbott announced small business support throughout the state. It’s a partnership with Goldman Sachs and its 10,000 Small Business program and LiftFund for $50 million in loans to small businesses impacted by COVID-19. These loans will be made through the Small Business Administration’s (SBA) Paycheck Protection Program (PPP). LiftFund, alongside other community development financial institutions will administer the funding to qualified small businesses. To learn more about this program, CLICK HERE.
WILLIAMSON COUNTY UPDATES
Williamson County Sheriff’s Office (WCSO) initiated a pilot program called WilCo Wellness Check. This is designed to check-in on a family member, friend, acquaintance and/or any person who relies on another for support. WSCO has set up an email for those who may need a deputy to attempt to contact your loved ones or those you care for if you are unable to. For more information on this program, please CLICK HERE.
CITY OF CEDAR PARK
Have you had a chance to look at some of the local information on the City of Cedar Park’s COVID-19 website? It has recent updates, resources, general information and much more. To learn more about what is happening on a community level, CLICK HERE.
COVID-19 (CORONAVIRUS) EMERGENCY LOANS
The Cedar Park Small Business Assistance Program is designed to help our local small businesses during these uncertain economic times. The Cedar Park Chamber and City of Cedar Park have partnered on a robust program. CEDAR PARK SMALL BUSINESS ASSISTANCE PROGRAM CLICK HERE!
To learn more about SBA Loans - The U.S. Chamber has several guides available to you to help guide you through the decision-making process of your next steps. Please take a moment to look these over as you continue to make these tough decisions. All of these links and many more are available on the Chamber Website.
Continue to inform yourself with good information. Whether you go to the Cedar Park Chamber website, or use one of the other trusted websites like the CDC’s, State of Texas Department of State Health Services, Williamson County or City of Cedar Park; utilize these sources to be well informed about what is happening in your community.
You can forward this newsletter to anybody you think would find value in this. They can sign up for the daily newsletter as well on our website. Please know we are here to help you. We are YOUR business advocate. Stay safe and let us know how we can help!