At TCAD, we understand that this is an increasingly difficult time for businesses, and we are working closely with our federal, state and local partners to help mitigate these hardships. Following are recent updates. Additional information and resources can be found on
TCAD’s website
or by contacting the TCAD team either individually or at
info@tcad.org
.
Together, we will make it through these difficult times.
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New York State Executive Order 202.6 required businesses to reduce their onsite workforce by 100% on March 22, 2020. Only organizations and entities that are deemed essential by the Executive Order are exempt from these restrictions.
Guidance on essential businesses was updated on March 27, 2020. Any previous designation or determination by Empire State Development (ESD) that a firm is an essential business that is inconsistent with the revised guidance is no longer valid.
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ESD's website
provides guidance as to whether your business is considered essential, or if you wish to receive essential designation for your business.
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The
NEW
Federal Families First Coronavirus Response Act (FFCRA or Act) requires certain employers with less than 500 employees to provide their employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. The FFCRA goes into effect on April 1, 2020.
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For the FFCRA poster that employers must post, click
HERE
.
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Cayuga Medical Center and the Cayuga Health System is working to support physicians, nurses, and healthcare professionals who are working tirelessly to respond to the COVID-19 crisis while continuing to provide high-level care to our region.
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The outpouring of support from our community has been tremendous.
Click
HERE
to find out more about donating critically needed supplies, funding, or volunteering
.
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The Federal Government has authorized additional funding through the following Small Business Administration (SBA) programs:
- SBA Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access expedited SBA-guaranteed financing up to $25,000 for disaster-related purposes, while the small businesses apply for and await long-term financing. Contact your local lender for eligibility and application details.
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- SBA Paycheck Protection Program (PPP) is part of the Federal Coronavirus Aid, Relief and Economic Security (CARES) Act, passed on March 27. The PPP provides loans of up to $10 million to support small businesses and other eligible entities to pay workers, interest on mortgage obligations, rent, insurance, paid sick or medical leave, utilities, and payroll related costs incurred from Feb. 15, 2020 – June 30, 2020. Businesses can apply through authorized lenders (contact your bank for details). Lenders are waiting for guidance from the SBA on when to start accepting applications.
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The Small Business Development Center's (
SBDC
) regional business advisor can help businesses develop a plan specific to your situation to help navigate any rapid changes in demand or just answer questions about any SBA programs.
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SBDC CONTACT:
Lindsay Wolf, Ithaca Business Advisor
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Up-to-date resources to aid local businesses and community stakeholders are available on
TCAD's website
as we all navigate the changing business climate.
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NYS is waiving the 7-Day waiting period for Unemployment Insurance benefits for people who are out of work due to Coronavirus (COVID-19) closures or quarantines.
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The
NYS Shared Work Program
allows businesses to manage business cycles and seasonal adjustments, while retaining trained staff and avoiding layoffs. Under this program, full-time, part-time, and seasonal employees can receive partial unemployment insurance benefits while working reduced hours.
For guidance on the updated
NYS Family Leave
policy click
HERE
.
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Tompkins County Area Development | 607.273.0005 | info@tcad.org |
www.tcad.org
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