Assistance Programs for Businesses

Assistance Programs for Businesses

Paycheck Protection Program

Follow this link for more information about the Paycheck Protection Program (PPP).

PPP Loan Forgiveness Webcast, presented by Berkowitz Pollock Brandt CPAs May 1, 2020
Watch a Recording of Webcast
Download the PowerPoint Slides

Click here to view the Simpler Loan Forgiveness Application: https://www.sba.gov/sites/default/files/2020-10/PPP%20Loan%20Forgiveness%20Application%20Form%203508S.pdf
Click here to view the instructions for this application: https://www.sba.gov/sites/default/files/2020-10/PPP%20Loan%20Forgiveness%20Application%20Form%203508S%20Instructions.pdf
Click here to view the Interim Final Rule on the simpler forgiveness process for loans of $50,000 or less: https://www.sba.gov/sites/default/files/2020-10/PPP%20-%20IFR%20--%20Additional%20Revisions%20to%20Loan%20Forgiveness%20and%20Loan%20Review%20Procedures%20Interim%20Final%20Rules.pdf

SBA Disaster Loans

https://disasterloan.sba.gov/ela/Documents/Three_Step_Process_SBA_Disaster_Loans.pdf

U.S. Chamber of Commerce summary of SBA loans post CARES Act UPDATED 4/23/20
https://www.uschamber.com/sites/default/files/023595_comm_corona_virus_smallbiz_loan_final_revised.pdf

Business of any size may borrow up to $2 million for physical damage
Small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, or private non-profit organizations may borrow up to $2 million for Economic Injury
Small businesses may apply for a maximum business loan (physical and Economic Injury Disaster Loan - EIDL) of $2 million

Broward County Launches CARE Act Grant Program Website: https://www.broward.org/Cares/Pages/default.aspx?mc_cid=e5d98d52d4&mc_eid=c05a68806f

The County Commission is establishing a grant program using CARES Act funds for small businesses and non-profits in Broward County to help mitigate the impacts of COVID-19.

The Broward County CARES Act Small Business and Non-Profit Assistance Grant Program is designed to aid small businesses with 20 employees or less and non-profits with 25 employees or less. The program will be administered through the County’s Office of Economic and Small Business Development, while local partners will provide free technical assistance to applicants.

$25 million in federal CARES Act funding will be allocated to the small business grant and an additional $10 million for non-profits. These funds can be used to reimburse the costs of business interruption related expenditures caused by COVID-19’s required closures and/or operating restrictions. Funds are not a loan, and do not have to be paid back. The County is also assisting some cities with administering their CARES Act funding for small businesses, while other cities will administer their funds directly.

City of Fort Lauderdale - CRA Emergency Business Investment Program
Apply for up to $10,000 for assistance with business lease or rent, mortgage payments, payroll, and utilities
For more information, click here.

City of Pompano Beach - Small Business Grant Relief Program
The City of Pompano Beach has launched a Small Business Relief Grant, this is a new one-time grant of up to $25K being offered to City of Pompano Beach small business owners (25 employees or less) during the COVID-19 pandemic. Utilizing funds from the City’s Community Development Block Grant Program (CDBG) to help bridge the gap for small businesses enduring hardship during this difficult time. For more information, click here.

Florida Virtual Entrepreneur Center (FLVEC)
The Florida Virtual Entrepreneur Center is an online directory of resource agencies that serve entrepreneurs like you, organized for each stage of your business. For a listing of events, resources, and other information, please visit https://flvec.com/.

U.S. Chamber of Commerce Guide to Help Independent Contractors and Self-Employed Individuals Secure CARES Act Funding

https://www.uschamber.com/report/independent-contractors-guide-cares-act-relief

Short Time Compensation Program
http://www.floridajobs.org/Reemployment-Assistance-Service-Center/reemployment-assistance/employers
Detailed Overview of Program

STEP BY STEP GUIDE

Provides temporary, partial wage replacement benefits to qualified workers who are unemployed through no fault of their own
Funded solely by employers who pay federal and state payroll taxes and is provided at no cost to the workers who receive the benefits
Employers may apply using Florida’s Reemployment Assistance (RA) claims system, CONNECT