COVID-19 - What You Need to Know TODAY March 30, 2020March 30, 2020
We had some important updates over the weekend. As many of you know, the $2 Trillion Coronavirus Aid, Relief and Economic Security (CARES) Act passed Congress and the President signed it in to law late last week.
Some major highlights include bolstering the Small Business Loan Disaster Program. Pieces of this program may be eligible for forgiveness based on different metrics. Paycheck Protection Program is for businesses under 500 employees. This is designed to support payroll, mortgage interest payments, rent and utilities from February 15th – June 30th. There is an Employee Retention Credit, Unemployment Insurance Expansion, and much more. An expanded press release is available on our COVID-19 page.
FEDERAL AND STATE UPDATE FOR BUSINESS
President Trump extended the social distancing recommendation through April 30th. The initial 15-day social distancing guideline recommendations met a 30-day extension late this weekend. The new recommendation will be to keep social distancing guidelines in place through April 30th.
Governor Abbott increased the quarantine for people coming to the state from New York, New Jersey and Connecticut – they now include a mandatory 14-day quarantine for air travelers from Miami, Atlanta, Detroit, Chicago and any airport in California and Washington State.
WILLIAMSON COUNTY UPDATES
Williamson County has updated their Coronavirus website for the County. This includes a running count of confirmed cases, hospitalizations and even our current count of victims who have perished from complications due to COVID-19.
Williamson County also has a new interactive page for businesses. You can CLICK HERE to find out more information. This includes the essential and non-essential business order. If you are confused, you can now “request a determination” through this online portal. As answers are given, the county will list the determination of the business.
CITY OF CEDAR PARK
Reminder on temporary signage which is allowed in Cedar Park. Businesses are still allowed to place, A-Frame Signs, Temporary Stake Signs, Human Signs, Temporary Banners (requires a permit) and Window Signs. Please be sure to contact the City of Cedar Park if you have a question about signage at 512.401.5000.
SMALL BUSINESS ADMINISTRATION (SBA) DISASTER LOANS
The U.S. Small Business Administration (SBA) provides low-interest, long-term disaster loans to businesses of all sizes, private non-profit organizations, homeowners, and renters to repair or replace uninsured/underinsured disaster-damaged property. SBA disaster loans offer an affordable way for individuals and businesses to recover from declared disasters.
This is a three-step process, and you can get started on it right now!
Step 1: Apply for the Loan. You can do this at the SBA’s secure website (https://disasterloan.sba.gov/ela/).
Step 2: Property is Verified, and Loan-Processing Decision is Made. On a conference call yesterday, SBA Administrator Carranza has said processing these documents will not slow down the process. There are IRS documents you need, and they will look at, but it will not slow down the loan process.
Step 3: Loan Closed and Funds Disbursed. SBA will prepare and send loan closing documents to you for your signature.
The first payment for the Loan has been deferred for 1 year from the time you are approved for that loan.
You can use our press release as a guide for the process to apply and submit your Disaster Loan. Please find a copy of that news release on our website by CLICKING HERE.
We have published a 5-minute survey. Please take a moment to fill this out and let us know the current business climate in our community. CLICK HERE
You can see there are many other links which will continue to be available to you, your business, your friends and neighbors through this crisis both through this newsletter and on the Cedar Park Chamber website (CedarParkChamber.org). Please forward this newsletter to people who can use it! They can sign up for the newsletter as well.
Please know we are here to help you. We are YOUR business advocate. Stay safe and let us know how we can help!