RESOURCES FOR SMALL BUSINESSES IMPACTED BY COVID-19

Important Links:

• Small Business Administration (SBA)
• U.S. Chamber of Commerce Fact Sheet on Emergency Loans for Small Businesses
• Paycheck Protection Program Application (details below on requirements)

 

SBA Loans:

The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to Georgia small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19), SBA Administrator Jovita Carranza announced today. SBA acted under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, to declare a disaster following a request received from Gov. Brian P. Kemp on March 17, 2020.

The disaster declaration makes SBA assistance available in the entire state of Georgia.

Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus (COVID-19). The interest rate is 3.75% for small businesses. The interest rate for private non-profit organizations is 2.75%.

SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to entities without the financial ability to offset the adverse impact without hardship.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela.

Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance.

Individuals who are deaf or hard-of-hearing may call (800) 877-8339.

Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to apply for an Economic Injury Disaster Loan is Dec. 18, 2020.

For more information about available SBA resources and services, please visit: SBA.gov.

Paycheck Protection Program:

The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone.

The loan amounts will be forgiven as long as:

• The loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and utility costs over the 8 week period after the loan is made; and
• Employee and compensation levels are maintained.

Payroll costs are capped at $100,000 on an annualized basis for each employee. Due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs.

Loan payments will be deferred for 6 months.

As the COVID-19 coronavirus pandemic continues to have unprecedented impacts on the state, Georgia Power's suspension of disconnections is being extended following a vote by the Georgia Public Service Commission (PSC). The company originally announced it would suspend disconnects in mid-March for at least 30 days to assist customers through this challenging time. Today's vote extends the decision beyond the original timeframe, assuring customers that the suspension of disconnects will remain in place as the pandemic continues to impact customers in the state.

The Lakeland-Lanier Chamber of Commerce's priority is to keep the business community informed and prepared.  We attached pertinent messages and links covering health and financial issues to help us navigate in an uncertain environment.

GET THE LATEST GUIDANCE FOR BUSINESS FROM

Agency Leaders

While this is a quickly evolving situation, we will work to provide up-to-date information, actionable intelligence and help employers adopt a prepared mindset to focus on the health of their business. Here is some of the latest, most relevant information and resources for employers from national health organizations and agency leaders.

Centers for Disease Control & Prevention (CDC)

U.S. Equal Employment Opportunity Commission

Georgia Department of Public Health

Occupational Health & Safety Administration

World Health Organization

U.S. Small Business Administration

KEY DOWNLOADS

Important Preparation Resources

Download these critical business resources to assist your company during the pandemic.

The U.S. Chamber Foundation’s Resilience in a Box provides best practices for addressing preparedness issues while building in flexibility to handle potential business interruptions.

>> Deciphering Disinfectants Infographic

>> COVID-19 customizable flyer for your work place.

>> Coronavirus workplace tips for employers.

>> Coronavirus preparedness toolkit.

The Lakeland-Lanier Chamber of Commerce encourages fact-based decision making on the Coronavirus and points to the Centers for Disease Control and Prevention (CDC) as a primary resource. Now is the time to prepare, not panic.

Below, useful tips and resources to help prepare your organization and teams.

Key considerations from the CDC include:

• Decide how to handle spikes in potential absenteeism
• Cross-train employees on essential functions in case of employee absence
• Determine whether flex working is an option
• Assess your essential functions and reliance on others – be prepared to change your business practices if needed to maintain critical operations
• Create an employee communications plan
• Coordinate with state and local health officials
• Make a business continuity plan
• Sanitize commonly touched surfaces and objects regularly

Implement best health practices to prevent/limit workplace exposure:  

• Avoid close contact.
• Clean your hands by washing with soap and water for at least 20 seconds. Use hand sanitizer in the absence of soap and water
• Stay home if you are a family member is sick.
• Cover your mouth and nose, and avoid touching your eyes, nose
  or mouth.
  Regularly sanitize commonly touched surfaces and objects.
• Practice other good health habits.
• Follow CDC’s recommendations for using a facemask.

Other areas to monitor:

• Check the CDC’s Traveler’s Health Noticesbefore any international travel
• Beware Coronavirus scams, such as Websites selling bogus products, as well as fake emails, texts and social media posts designed to steal people’s money and personal information.
• Sign up for emails from the CDC
• Review S. Chamber of Commerce Foundation’s coronavirus resource page
• Updates from Gov. Brian Kemp
• CDC interim guidance for business

RESOURCES TO PREPARE YOUR BUSINESS

Communicate with Employees 

Preparing your Workplace 

Pandemic Guidance

Safety and Health Standards, Control & Prevention

Workplace Tips for Employees

Guidance for Employers

ABOUT COVID-19 CORONAVIRUS

About the Coronavirus Disease 2019

Confirmed Cases in the U.S.

World Health Organization Video Explainer

CDC: Frequently Asked Questions