Assistance Programs for Businesses

  

Assistance Programs for Businesses 

Paycheck Protection Program
As of Friday, April 24, Congress approved a bill providing additional funds for this program, which the President signed into law. 
If you have already applied for the program, the SBA recommends you check on the status with your bank.
 

In response to the CARES Act, specifically the Paycheck Protection Program (PPP), working with our banking members, the Alliance has prepared a list of SBA Preferred Bank members, along with the direct links to information on how to apply for the PPP for each bank.  Recommendations are to apply with you present banker and SBA Preferred lender to expedite the process.

Click here for the list. (4/3/20)

Guide to PPP Loan Forgiveness (5/22/20)

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

Access the PPP's Loan Forgiveness Application here: https://content.sba.gov/sites/default/files/2020-05/3245-0407%20SBA%20Form%203508%20PPP%20Forgiveness%20Application.pdf

SBA Disaster Loans
As of Friday, April 24, Congress approved a bill providing additional funds for this program, which the President signed into law. 
The SBA states that it is processing EIDL applications as quickly as possible. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis. 


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

Florida Small Business Emergency Bridge Loans COVID-19
As of April 17, there are currently no remaining funds available for this program.
If you have already applied, you can check the status of your application here

If additional funds become available, we will update this page. 
 
http://floridajobs.org/rebuildflorida/businessrecovery

  • Provides financial assistance at 0% interest for up to $100,000
  • Loans are intended to “bridge the gap” between the time a major catastrophe hits and when a business has secured longer term recovery resources
  • Loans will be interest-free for the loan term (1 year). The Interest rate will be 12% per annum on the unpaid balance thereafter
  • These loans can be processed more quickly than the federal government SBA loan program loans

Axis South Florida - FREE Assistance for Nonprofits and Businesses (Broward & Miami-Dade)
Sign up at: axishelps.org/generator

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.

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 Coronavirus Emergency Loans Small Business Guide and Checklist
https://www.uschamber.com/sites/default/files/023595_comm_corona_virus_smallbiz_loan_final.pdf

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 UPDATED 3/27

  • 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