BUSINESS REPORT SPECIAL EDITION
on Coronavirus
New Information For Our Business Community
More Federal Stimulus Funding Now Available
On April 24, 2020, a supplemental federal stimulus package was signed into law. This package was designed to provide more financial relief for businesses and institutions hit hard by the COVID-19 crisis. This interim legislation allocates $310 Billion to replenish the Small Business Administration's (SBA) Paycheck Protection Program (PPP), $75 Billion for hospitals, $25 Billion for COVID-19 testing, and $60 Billion for the Economic Injury Disaster Loan Program.
It is extremely important that you submit your PPP loan application as soon as possible with an SBA qualified lender. These funds will be exhausted quickly due to the negative financial impacts COVID-19 has had in the small business community. It is important to note that the PPP loan has a forgiveness clause applicable to any borrower that can show they used at least 75 percent of the loan for payroll as well as other requirements. Please submit your application as soon as possible with an SBA qualified lender.
City Establishes a Business Recovery Task Force
Today, the City of Coral Gables Commission approved the creation of the Business Recovery Task Force. The purpose of the Task Force is to collaboratively work with the City Administration and business partners in reviewing the City’s Best Management Practices and measures for reopening the local economy that is consistent with public health guidelines. The Task Force will consist of eight members.
  1. University of Miami – Two Representatives (Business School / Public Health)
  2. Coral Gables Chamber of Commerce – Two Representatives (Business Executive / Real Estate Professional)
  3. City’s Business Improvement District (BID) – One Representative (Restaurant Industry)
  4. Coral Gables Community Foundation – One Representative
  5. Individual appointed by the City Manager – Retail Industry
  6. Individual appointed by the City Commission as-a-whole - Any Industry
City Starts COVID-19 Testing
This Friday, the City will begin free COVID-19 testing for residents who meet the criteria. Appointments will be granted based on priority levels:
  • Priority 1- Coral Gables senior resident age 65+ with symptoms or with underlying medical conditions.
  • Priority 2- Coral Gables resident under the age of 65 with symptoms or with underlying medical conditions.
  • Priority 3- Resident who does not meet any of the above categories and are requesting a COVID-19 test.
Please complete the online testing application at  www.coralgables.com/covidtesting . For security reasons, you must create an account with a username and password. If you need help filling out the application, please call the Senior Resident & Testing Hotline at 305-460-5401. 
City of Coral Gables Economic Development Department www.coralgables.com/economic