The Coronavirus Aid, Relief, and Economic Security (CARES) Act expands the Small Business Administration’s long-standing Economic Injury Disaster Loan Program (EIDL). The EIDL program was created to assist businesses, renters, and homeowners located in regions affected by declared disasters.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act created a new employee retention tax credit for employers who are closed, partially closed, or experiencing significant revenue losses as a result of COVID-19.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program (PPP), the initiative provides 100% federally guaranteed loans to small businesses.
Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls aftward.
The administration has released initial guidelines; they are available at www.treasury.gov. The U.S. Chamber of Commerce has issued a guide to help small businesses and self-employed individuals check eligibility and prepare to file for a loan.
Small businesses and sole proprietors can begin applying on April 3. Independent contractors and self-employed individuals can apply beginning on April 10.
The U.S. Chamber has created a guide to help small businesses, independent contractors, gig economy workers, and other qualifying individuals prepare to file for a coronavirus relief loan under the Coronavirus Aid, Relief, and Economic Security(CARES) Act. The hope is that this guide will prove to be a valuable resource for you as you begin to take the necessary steps towards accessing the fund to keep workers on the payroll during this disruptive period.
In addition to the guide, an interactive map has been compiled to show the aid available on a state-by-state basis. To view the interactive map, please click here.
Text TPCOVID to 888-777 to receive coronavirus alerts, news updates, and public health tips!
This dashboard has links to current CDC, FEMA, and other state resources. Click here for access to the dashboard
“As you look to pass accurate information to your workers and make important decisions regarding business operations, a good place to start is with the CDC’s recommended business strategies, which include:
• Actively encourage sick employees to stay home
• Separate sick employees
• Emphasize staying home when sick, respiratory etiquette and hand hygiene by all employees
• Perform routine environmental cleaning
• Advise employees before traveling to take certain steps
For more information, see below or visit the website of the Franciscan Missionaries of Our Lady Health System, a LABI member company, for a variety of other resources, fact sheets and fliers regarding COVID-19 including:
•Planning Ahead for your Business
Click here to submit the short survey as they attempt to gather information on the economic challenge facing Louisiana Companies.
Click here to read operation changes at the Terrebonne Parish Assessor’s Office
Terrebonne Parish schools will begin a feeding program for students. This program will be located at the four high schools and will be a “grab and go” process for school-age children from all area schools and will begin when the district has received the necessary food items. No other details are yet available.
Terrebonne Parish Public Library System will provide curbside services only until further notice. Computer use, meeting rooms, and all programs for the rest of the month have been canceled.
Local Chamber member restaurants have made changes to adapt to the mandated closures due to the COVID-19 precautions. Click here to view the information. Please note this list is continuously being updated and we will try to keep it updated.
• A checklist of questions to ask yourself in order to be as prepared as possible
• Handling Employer-Paid Leave in light of COVID-19
• Family First Coronavirus Response Act interaction with FMLA with regard to Qualifying Leave
• How COVID-19 salary reductions can affect benefit elections