BUSINESS REPORT SPECIAL EDITION
July 17, 2020
CORAL GABLES RESTAURANTS: EXPAND OUTDOORS WITH A TEMPORARY PERMIT
The City of Coral Gables is accepting applications from restaurants for Temporary Outdoor Dining Permits. This is especially important considering the most recent Emergency Order limiting the use of indoor dining areas. Through this free, expedited permit, restaurants can expand outdoors into public parking spaces in front of their establishments, among other areas.
Please note, city staff is available to answer questions and help restaurants complete the application. Email the Economic Development Department with any questions or concerns at business@coralgables.com .  
*NOTE: A maximum of four people are allowed per table. As a safety measure, restaurants must not allow additional individuals to stand around these tables or congregate within the area designated for outside dining. A violation of this County requirement will result in the closure of the establishment by Miami-Dade County, consistent with County Emergency Order 23-20.
FREE 10 MINUTE PARKING FOR RESTAURANT TAKE OUT / PICKUP
For your convenience, the City has reserved additional parking spaces for Take Out/Pickup Zones making it easier to support our local businesses. All centralized valet locations have been converted to free “10-Minute Take-Out Parking Only” zones. There are now 50 spaces throughout the City dedicated to takeout and pickup parking. Locations may be adjusted. Find them here:

  • Parking lot 25 adjacent to Giralda Plaza;
  • 200 block of Andalusia Avenue near Chocolate Fashion;
  • 2400 block of Ponce de Leon Boulevard near Cheesecake Factory;
  • 300 block of Aragon Avenue in front of Caffe Abbracci;
  • 300 block of Giralda Avenue in front of Tap 42;
  • 200 block of Giralda Avenue near Terre del Sapore;
  • 2600 block of Ponce de Leon Boulevard near Anthony’s Coal Fired Pizza;
  • 6900 block of Red Road in front of Threefold Cafe;
  • and, corner of Madruga Court and Avenue in front of Madruga Bakery.

*Restaurants: To update your information or to get on this list, please send an email to jpfaber@coralgablesmagazine.com. 
CITY ANNOUNCES MICRO-GRANTS FOR RESTAURANTS / RETAILERS
The City recently announced social media micro-grant opportunities for Coral Gables restaurants, retailers and cultural organizations. You can learn more about these micro-grants by clicking here.
WATCH "HOW TO" WEBINAR FOR ADVERTISING ON SOCIAL MEDIA
The City of Coral Gables recently held a webinar for businesses on the step-by-step process of advertising on social media. With an active “Safer at Home” Order and limited businesses opening their doors, digital interactions with customers are crucial. Watch this free webinar on how to place an ad on Instagram and Facebook, along with great tips and insight from moderator and retail consultant Syama Meagher. Click here to watch the video.
NEW STIMULUS PACKAGE UNDER CONSIDERATION
Next week, the U.S. Senate may consider a new economic rescue package that could include a second stimulus check for eligible recipients. The purpose of this legislation is to provide economic relief before the current jobless benefit or assistance expires at the end of July 2020. In addition, this stimulus package may include more financial assistance to state and local governments that have been adversely impacted by the COVID-19 pandemic; and liability protection for businesses.  
NEW GRANT FROM CAREERSOURCE
CareerSource South Florida has opened a special fund designed to support small businesses and community-based organizations in Miami-Dade County facing financial impacts from COVID-19. The Layoff Aversion Fund offers reimbursement grants that can be applied to business-related COVID-19 expenses since March 1 st with receipts required. Depending on the number of employees, businesses may receive up to $10,000.
NOW AVAILABLE: MIAMI-DADE COUNTY’S SMALL BUSINESS RELIEF LOANS 
Miami-Dade County is making loans available to small businesses impacted by COVID-19. The program called Re-Investing in our Small Business Economy (RISE) provides up to $30,000 to small businesses. The loan will come due in three years with a fixed interest rate tied to the Prime Rate. This program was made possible with the funds provided to the County through the federal CARES Act. For more information or to apply, click here.

To qualify for a RISE loan, businesses must operate in Miami-Dade County; be in operation for at least two years; have gross sales of less than $2 million; and have 25 or fewer employees/independent contractors. Owners must live in the County; have a credit score greater than 575; have 20% or more ownership/stake in the business; and not have any bankruptcies or foreclosures in the past three years. 
PAYCHECK PROTECTION PROGRAM (PPP) LOAN
The U.S. Small Business Administration resumed accepting PPP loan application on July 6, 2020. The new PPP loan deadline was extended until August 8th, 2020. As indicated, this loan program was designed by the federal government to help small businesses keep their workers on their payroll during the COVID-19 economic crisis. The loan will be forgiven if the funds are used for payroll costs, or interest on mortgage, rent, and utilities. Originally, the borrower was required to use 75% of the loan toward payroll. This requirement was relaxed to 60% of the total loan. Some of the basic features that makes this loan attractive are: (1) Interest Rate of 1%; (2) Loans issued prior to June 5, 2020, have a maturity of 2 years. Loans issued after June 5, 2020, have a maturity of 5 years; (3) Six (6) months deferment period; (4) no collateral or personal guarantees are required; and (5) there are no fees for small businesses to participate in the program. As of June 30, 2020, approximately 393,028 PPP loan applications from the State of Florida were approved by the SBA with an estimated value of $32.1 Billion. The loan application can be found on the SBA website. Below are the locations of SBA eligible PPP lenders in Coral Gables. For more information regarding the PPP loan program, visit the SBA website.
ECONOMIC INJURY DISASTER LOANS AND ADVANCE (EIDLA) PROGRAM 
The U.S. Small Business Administration (SBA) is still accepting EIDLA loan applications from small businesses impacted by the COVID-19 crisis. Small businesses can apply for up to $10,000 in a loan advance designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. This loan advance will not have to be repaid. Receipts do not have to be approved for a loan in order to receive the advance, but the amount of the loan advance will be deducted from total eligibility. As of July 3, 2020, approximately 233,942 EIDLA loan application from the State of Florida were approved by the SBA with an estimated value of $12.5 Billion. For information regarding the EIDLA loan application click here.
EXPRESS BRIDGE LOAN PILOT PROGRAM
This loan program, sponsored by the SBA, provides guaranteed financing on an emergency basis for disaster-related purposes to eligible small businesses, while the businesses apply for and await on long-term financing. The small business through an SBA Express Lender may access up to $25,000. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be used to bridge the gap while applying for a direct   SBA Economic Injury Disaster Loan . For information regarding the EIDLA loan application click here.
City of Coral Gables Economic Development Department www.coralgables.com/economic