Below is an initial one stop clearing house of economic resources and related information to help small businesses survive this period and to help employees remain in the workforce. These resources below will hopefully assist you in weathering the financial obligations you are still facing and allow you to support your employees who will have their hours cut as a result of the government’s attempts to protect against COVID-19.
As always, my office is here to assist you in this time of need. If you have a question or concern, or simply need help finding the right person to contact, please email me at Alex.Andrade@myfloridahouse.gov, or call me at 850-462-4776.
Alex
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The Northwest Florida Small Business COVID-19 Recovery Grant Program has been created by Gulf Power, in partnership with the Florida Small Business Development Center at University of West Florida. The purpose of the grant is to assist for-profit businesses located in select Northwest Florida counties, and provide COVID-19 relief for these small businesses. Gulf Power is funding the grant with a $250,000 contribution. Each applicant or business may only receive one grant at a maximum amount of $5,000. The Florida SBDC at UWF will be responsible for administering the program, as well as, assisting eligible businesses and distributing the appropriate funds to businesses who have been awarded the grant.
The window for submission of applications will open on April 8th at 8AM, and will close on April 14th at 5PM.
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The Santa Rosa County Small Business COVID-19 Recovery Grant Program has been created by Santa Rosa County, in partnership with the Florida Small Business Development Center at the University of West Florida. The COVID-19 Grant is intended to assist for-profit businesses located in Santa Rosa County, and address their immediate cash flow needs as a result of demonstrated economic injury due to COVID-19. Santa Rosa County is funding the grant with a $100,000 contribution. Each applicant of business may one receive one grant at a maximum amount of $2,500. The Florida SBDC at UWF will be responsible for administering the program, as well as, assisting eligible businesses and distributing the appropriate funds to businesses who have been awarded the grant.
The window for submission of applications will open on April 6th at 8AM, and will close on April 13th at 5PM.
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The Florida Small Business Emergency Bridge Loan Program is an up to $50,000 loan currently available to small business owners located in all Florida counties statewide that experienced economic damage as a result of COVID-19. These short-term, interest-free working capital loans are intended to “bridge the gap” between the time a major catastrophe hits and when a business has secured longer term recovery resources, such as sufficient profits from a revived business, receipt of payments on insurance claims or federal disaster assistance.
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If a Floridian’s employment has been negatively impacted as a result of the mitigation efforts in Florida to stop the spread of COVID-19, they may be eligible to receive Reemployment Assistance.
Individuals who may be eligible for Reemployment Assistance may include:
- Those who lost their job at no fault of their own,
- Those who are quarantined by a medical professional or a government agency,
- Those who are laid off or sent home without pay for an extended period by their employer due to COVID-19 concerns, or
- Those who are caring for an immediate family member who is diagnosed with COVID-19.
Governor DeSantis has waived work search, online work registration and waiting week requirements for Reemployment Assistance applications.
Individuals whose employment has been impacted, but are still receiving wages through
paid leave are not eligible to receive Reemployment Assistance.
Before applying:
- Review the Reemployment Assistance Handbook & Claimant Guide
- Watch the short videos provided to ease the application process
Click
here for a direct link to instructions on how to apply for Reemployment Assistance.
Click
here for a direct link for a FAQ on Reemployment Assistance for individuals who have been impacted by COVID-19.
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Florida's Department of Economic Opportunity activated the Business Damage Assessment Survey at
FloridaDisaster.biz. This survey is a critical piece of their efforts to help businesses throughout the state lessen the impacts the mitigation efforts to stop the spread of COVID-19 will have on their bottom line. Please encourage any of the business owners impacted by COVID-19 to fill out the survey.
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The Short Time Compensation program helps employers retain their workforce in times of temporary slowdown by encouraging work sharing as an alternative to layoff. The program permits prorated reemployment assistance benefits to employees whose work hours and earnings are reduced as part of a Short Time Compensation plan to avoid total layoff of some employees.
While not as broadly applicable as reemployment assistance, Short-Time Compensation (STC) is available for full-time employees who have established a set number of hours per week, but have been constrained because of COVID-19. Employers who have had to reduce hours of their full time, hourly staff, between 10% and 40% are able to apply for assistance in offsetting the hours they can no longer provide their employees during this period.
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Listed below include the CARES Act newly established temporary programs to address the COVID-19 outbreak.
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The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital (up to $2,000,000) to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration. For more information or to apply please click
here.
Click
here to determine the federal definition for your small business.
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The Paycheck Protection Program is established in the CARES Act to provide $349 billion in forgivable loans for small businesses to keep employees on payroll. In order to be eligible, your business cannot exceed 500 employees or must meet the current Small Business Administration (SBA) standards.
Small businesses and sole proprietors can apply now until June 30, 2020. Independent contractors and self-employed individuals can begin applying April 10th until June 30, 2020. Apply through any lending institution approved to participate through the existing SBA lending program.
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The SBA Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA express lender to access up to $25,000 quickly. The goal is to provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA EIDL loan. This loan must be repaid in full or in part by proceeds from the EIDL.
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SBA Debt Relief is an additional COVID-19 temporary relief option the CARES Act established. The SBA is providing a financial reprieve to small businesses during the pandemic.
Please
click here to access an overview of the SBA Debt Relief, as well as, additional debt relief options.
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New Tax Day - July 15th
The IRS has extended the filing and federal tax payments deadline from April 15th to July 15th. To find more information visit the
IRS website.
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Executive Tax Relief Orders
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The Florida Department of Revenue is monitoring COVID-19 and continues to follow guidance from federal and state officials. The Department has created an email address,
COVID19TAXHELP@FloridaRevenue.com
, where you can share questions and concerns.
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Representative Alex Andrade |
Website
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