Business Resources During a Disaster

We have plenty of resources for our businesses to get you through this tough and unique time. Here in the South, we’re used to preparing for a hurricane, but what do we do to prepare for an unprecedented pandemic? Please read below for updates, resources you may need, and how to give feedback to further assistance.

 


– From our Governor –

CLICK TO READ ROADMAP TO A RESILIENT LOUISIANA


Main Street Recovery Program ~ FYSA

Louisiana’s State Treasurer Schroder has announced some small businesses harmed by the coronavirus pandemic should start seeing grants from a $300 million federally financed program as soon as next month. The money is part of $1.8 billion in direct congressional relief that Louisiana received to respond to COVID-19.

Treasurer’s Office has set up a general email to receive inquiries on the Main Street Recovery Program – it’s listed here:  [email protected]

This is not an LED administered program, so all questions must go to the Treasury office.

The money is part of $1.8 billion in direct congressional relief that Louisiana received to respond to the COVID-19 disease caused by the coronavirus. Most of the money is being used to fill state budget shortfalls amid the pandemic, but lawmakers set aside $300 million for the small business grants.

The grants are aimed at helping businesses that had to stop operating or otherwise incurred costs because of the virus outbreak. Businesses that qualify may receive up to $15,000 each.

Under the rules enacted by lawmakers, grants for the first 21 days only will be available to businesses that didn’t receive other federal aid through the Paycheck Protection Program or through a U.S. Small Business Administration disaster loan, and that didn’t receive insurance for interruptions to their business.

To be eligible, businesses have to be located in Louisiana. They can’t have had more than 50 full-time workers as of March 1, before Louisiana saw its first confirmed case of COVID-19. And they can’t be a subsidiary of or owned by a larger company with more than 50 full-time employees.

Under the plan passed by lawmakers, $40 million of the aid is guaranteed to be spent on grants to assist minority-owned, women-owned and veteran-owned businesses.

www.LouisianaMainStreet.com


Louisiana Economic Development: E-Commerce Resources of Small Businesses

E-commerce Resources for Your Small Business


Terrebonne Parish: COVID-19 Budget Response


U.S Chamber Guide: A Backgrounder on Unemployment Insurance Under The CARES Act


Entergy Customer? Click this link to stay up to date!


Congress has passed three separate bills to provide immediate resources to our medical professionals, individuals, families and small businesses. For a detailed summary of the most recent of these bills, the CARES Act, please review this document compiled by Congressman Steve Scalise’s office.

The U.S. Department of Treasury and the U.S. Small Business Administration continue to provide guidance on the Paycheck Protection Program.

This SBA loan program is being administered through individual lenders and banks, and small business owners should contact their bank for more information. Click here to use the SBA’s tool to find a nearby lender eligible to issue a loan under the Paycheck Protection Program.


Employee Retention Credit for Businesses Impacted by COVID-19

Last week, the Treasury Department and the IRS launched the Employee Retention Credit, which is designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. Please click here for more information from the Treasury Department.


Paycheck Protection Program
Information for Small Businesses

SBA and Treasury just put out important guidance and the application form for small businesses to apply for the Paycheck Protection Program’s forgivable loans. Further information is HERE and also on the Treasury website HERE.
The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.
Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.
·     For a top-line overview of the program CLICK HERE
·     If you’re a lender, more information can be found HERE
·     If you’re a borrower, more information can be found HERE

U.S Chamber of Commerce Resources for Small Businesses

Economic Injury Disaster Loans

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.

Click here to read more about EIDL

Employer Retention Tax Credit

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.

Click to read more about the Employee Retention Tax Credit

Coronavirus Emergency Loans Small Business Guide and Checklist

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.

Click to download the small business guide and checklist


U.S. Chamber Coronavirus Loan Guide to

Help Small Businesses

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 Alert System in Terrebonne Parish

Text TPCOVID to 888-777 to receive coronavirus alerts, news updates, and public health tips!


SENATOR BILL CASSIDY, M.D. H.R. 748 CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT


Louisiana Economic Development COVID-19 Assistance: Resources for Impacted Businesses


B1Bank: COVID-19 Financial Assistance Available


Steve Scalise: Louisiana Small Businesses Impacted by Coronavirus Now Eligible for SBA Disaster Loans


Louisiana Workforce Commission website has been updated with some guidance for employees and employers


SBA Disaster Assistance in Response to the Coronavirus

Click here to read how the U.S. Small Business Administration is responding to the coronavirus disaster

Click to read SBA Economic Injury Disaster Load Declaration 


National Business EOC Dashboard is activated!

This dashboard has links to current CDC, FEMA, and other state resources. Click here for access to the dashboard


US Chamber of Commerce offers two resources during this trying time

  • The Disaster Help Desk has been activated to assist businesses affected by COVID-19. Click here for further information.
  • Resilience in a Box is a developed partnership with the UPS Foundation and U.S. Chamber of Commerce Foundation. It is based on best practices and designed to educate business leaders on disaster preparedness and business resilience. Click here for more information

LABI Releases Recommendations for Louisiana Businesses

“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
Business Consideration


TEDA Info for Businesses for COVID-19


Healthcare Updates

FOR IMMEDIATE RELEASE: SMLA Offering Online Telemedicine Visits


Gov. Edwards: ALL LOUISIANA PARISHES ELIGIBLE FOR COVID-19 BUSINESS AID


First Data, the Chamber’s Affinity Partner, Makes Offers Amid COVID-19


Click to read MEMORANDUM ON IDENTIFICATION OF ESSENTIAL CRITICAL INFRASTRUCTURE WORKERS DURING COVID-19 RESPONSE from CISA

Click to read Additional Illustrative Examples of Critical Infrastructure Businesses Consistent with Cyber and Infrastructure Security Agency Guidance


Gallagher Benefit Services, Inc. Provides Helpful COVID-19 Resources and Information

Click here for the Coronavirus (COVID-19) Pandemic Information Hub

• 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


AFLAC’s COVID-19 Guide for Employers


Paycheck Protection Program FAQs for Small Businesses