The latest news 5-5-20, regarding Economic Injury Disaster Loans (EIDL): The SBA has resumed processing EIDL applications that were submitted before the portal stopped accepting new applications on April 15 and will be processed on a first-come, first-served basis. However, agricultural loans are open for EIDL.
The SBA will begin accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications on a limited basis only, in order to provide unprecedented relief to U.S. agricultural businesses.
The FSA also has a program that the direct support idea covers. Please visit with your FSA office regarding this.
As reported by the USDA, the program will provide:
Direct Support to Farmers and Ranchers: The FSA program will provide $16 billion in direct support based on actual losses for agricultural producers where prices and market supply chains have been impacted and will assist producers with additional adjustment and marketing costs resulting from lost demand and short-term oversupply for the 2020 marketing year caused by COVID-19. FSA is a different program that has the 16 billion funded through USDA, so go through the FSA office.
PPP will fund Farmers and Ranchers if you don't have a net 0 on Schedule F. The EIDL is not based on Schedule F, and is now including farmers, and is part of the 60 billion more dollars added into the small business program. SBA Economic Injury Disaster Loan (EIDL) is based on 12 months prior to disaster declared January 31, 2020 including Sales less Cost of Goods Sold x 50% = Potential eligible loan amount. Use the Streamlined Portal below, and work through your bank.
USDA Purchase and Distribution: USDA will partner with regional and local distributors, whose workforce has been significantly impacted by the closure of many restaurants, hotels, and other food service entities, to purchase $3 billion in fresh produce, dairy, and meat. https://www.ams.usda.gov/selling-food-to-usda/usda-food-box-distribution-program https://www.usa.gov/become-government-contractor
Caution: PPP Loans will be audited for need or necessity, size eligibility, amount requested and use. Funds inappropriately requested and received will result in strong fines. Return of funds by the "Safe Harbor" period of May 7 will be accepted back without penalty. Any loan from any program may be examined for fraud.
New Childcare financial help for "Heroes" eligibility found here: http://ksherorelief.com/ (child care providers for essential workers, food workers, frontline child and adult caregivers, etc. included...)
Unemployment is still open - See bottom of page. They just want you to apply by the letter of your last name due to overuse of the site.
People with last names starting with A through M are asked to file Sunday, Tuesday and Thursday. Individuals with N-Z last names are asked to file Monday, Wednesday or Friday. Anyone who misses their day can file Saturday instead.
How to get your PPP Loan Forgiveness if you are a Business of One: https://www.inc.com/video/how-to-get-your-ppp-loan-forgiven-if-youre-a-business-of-one.html?utm_source=incthismorning
If you have no recourse as a business but to close, please call Ellen Barber at 785-207-7598.
There are 2 main "loans" with forgiveness provisions out. I'll cover the SBA 7(a) here, and the EIDL under #2. Farmers and churches are eligible as well if affected by the situation. Any 501
c, d or e may apply. Also remember the expanded unemployment program may work well or even better for your business if you need to "furlough" your employees. See middle of page with PDF button.
The new Stimulus Bill allows for SBA 7 (a) Emergency Loan (with Forgiveness Provisions) to be used for Business Relief for profit and non-profits. It contains the Paycheck Protection Program. According to Congressman Scalise, your local bank will be the lender you will go through. A clear article on the contents is found here: https://www.inc.com/brit-morse/sba-loans-coronavirus-stimulus-package-cares-act.html
PPP is done with Phase 2. Not sure if it will open again. See this link. https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp?utm_medium=email&utm_source=govdelivery
For a quick overview see Roger Marshall's one pager.
For Questions from Business side, see here:
For FAQ's on the Paycheck Protection Plan (PPP), see this link: https://www.rubio.senate.gov/public/_cache/files/ac3081f6-14ae-4e6f-9197-172ede28badd/71AB6CB05A08E369E0D488A80B3874A5.faqs---paycheck-protection-program-faqs-for-small-businesses.pdf
Friday, April 3rd, 2020 small businesses and sole proprietorships may begin applying
Friday, April 10th, 2020 independent contractors and self-employed individuals may begin applying
Tuesday, June 30th, 2020 PPP application deadline
You must include an attachment with this info if you don't want your application to end up in a wait pile.
Stuck in PPP Loan Limbo? https://www.inc.com/video/stuck-in-loan-limbo-heres-what-to-know.html?utm_source=incthismorning
Find Paycheck Protection Program (PPP) Application here as well: Give to your approved local lender by JUNE 30, 2020.
FAQ's for the PPP - https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf. This is the date it is supposed to stay open until, but not sure if they ran out of money yet. Check with your bank. Don't wait that long! First come...
Want a Chart to figure out the differences between the PPP and the EIDL? See https://docs.google.com/spreadsheets/d/12xv4xcsg_9xoVeEE_Y1j2sicNbCvl2GAVinSowU2zgg/htmlview?urp=gmail_link
Wondering if your business can stay open? Take a look at the Executive Order here: https://governor.kansas.gov/wp-content/uploads/2020/03/EO20-16.pdf
and/or ask if your business if exempt here: https://governor.kansas.gov/keff/
Direct to Citizen Economic Impact Payments: See https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know
The new CDBG-CV grant is being applied for through Marshall County. MCP4G is in the process of writing with the help of NCRPC.
We need the for-profit Business owner's and their employees' help! If you have 50 or fewer employees, and would like to be included in this grant, then look at the PDF icon or the Excel. Find the number of people in the household in the top line, and go down to the highlighted income. If your income is the same or less than that number, you would qualify. Employers - Do 51% of your employees possibly fall below the 80% cut-off for Marshall County? If so, please call or email me your interest. (See bottom of page for contact info.) I need to write into the grant the interest we have and know the amount of money we can request. I need to know by the 22nd at the latest! (Sole proprietors count, and so do farmers!) It's a good idea to look at one's taxes for gross income/and or monthly paychecks.
Key: The Eligibility Limits can include the income present from this year, back one year ago, with the months affected by Covid-19.
Latest version 5 - Full Reopening Plan for KS - https://covid.ks.gov/wp-content/uploads/2020/05/Reopen-Kansas-Framework-v5-2.pdf
FAQ's on Reopening for KS from the state office - See https://www.coronavirus.kdheks.gov/DocumentCenter/View/1071/Reopening-FAQ-5220
Read the latest Executive Orders Here: https://governor.kansas.gov/newsroom/executive-orders/
Governor Grants for all non-profits - see https://grants.ks.gov/docs/default-source/default-document-library/cesf-solicitation.pdf?sfvrsn=7bf85d1a_2
Utility Assistance - https://covid.ks.gov/wp-content/uploads/2020/04/NR_LIEAP-Application-Extended.pdf
Livestock and Poultry Mini-Grant - https://foodanimalconcernstrust.org/minigrants
Emergency Fund for Gig, Hourly, restaurant and delivery drivers - https://ofwemergencyfund.org/help
Eligibility Income Limits
for Employers and Employees
Easy open PDF or Excel
Read a Summary of the CARES Act - https://www.abbb.com/blog/cares-act-business-individual-tax-relief/
P4G is staying in contact with with our Local Banks as well as
Talk to your bank. Request deferred or reduced payments for 3 - 4 months. Let them know if you want an Emergency SBA 7 (a) loan. It is different from the traditional 7(a) loan and you may qualify for forgiveness. Most banks are SBA partners. If you use a credit union, please check.
Our banks are doing what they can for their customers. Be patient as this new rush to a loan/grant goes into effect. They will be stretched during this time.
Call or go online and communicate your needs to your bank. Just the Lobby may be closed, but the bank is still open.
MCP4G encourages all banks in county to see this site daily as they are the first line in keeping our businesses open and can talk with their customers about what programs will fit them best. We want YOU to be informed and no business left behind! North Central Regional Planning Commission Covid-19 Helps: https://www.ncrpc.org/resources-in-response-to-covid-19/
Step 2 - Government Stimulus Package Info Covid-19 Updates
Unemployment for Individuals - The CARES Act has unemployment benefits "on steroids." Apply now and the extensions for the new stimulus will be applied for people who filed before it was passed. See more on unemployment at bottom of page.
Where to file for Unemployment https://www.getkansasbenefits.gov/Home.aspx
The PDF button has Provisions for Unemployment from Roger Marshall. See paid leave below.
Rapid Response for laid-off workers: Email firstname.lastname@example.org.
The governor has allowed truckers to take on Covid-19 related loads of up to 90,000 pounds for the next 2 weeks. She has passed temporary licensing for health care workers and paved the way for more Telemed.
Childcare providers are allowed 2 more children per worker during the crisis.
The government will not allow anyone's electricity or water be shut down during this crisis.
No one may be evicted from their housing at this time.
Gov. Kelly mandated a halt to foreclosures and evictions, forbade all trash and recycling service providers from stopping service due to non-payment due to Covid-19, and extended all deadlines for driver's license and vehicle registration renewals indefinitely. They must be done 60 days after the executive order's expiration, whenever that is. July 15 tax filing extension was confirmed with no penalties or interest payments. (3/26/20) Source: KSHB Kansas City
From the Governor's office - WIC Program is not requiring recipients to be physically present to receive services. All processing is remote.
Tax Day is moved to July 15
Most business may sell curbside and by phone.
Student loans are deferred by 6 months.
FCC Keep America Connected ruled if hardship from virus is a factor, you cannot be disconnected from the internet service. For more information, call your provider. Not all providers may have made the pledge.
Under the IRS in the Cares Act, is a program called the Employee Retention Credit. Eligible employers can get immediate access to the credit by reducing employment tax deposits they are otherwise required to make. Also, if the employer's employment tax deposits are not sufficient to cover the credit, the employer may get an advance payment from the IRS. See https://www.irs.gov/coronavirus/employee-retention-credit
Track reimbursable COVID-19 expenses:
Department of Labor (DOL)
The U.S. Department of Labor has resources to help workers and employers prepare for the COVID-19 virus, including the effects on wages and hours worked under the Fair Labor Standards Act and job-protected leave under the Family and Medical Leave Act.
Wage questions can be asked at: 866-487-9243
Child Care Issues - See the Department for Children and Families about 1/2 way down the page on the Commerce Site. https://www.kansascommerce.gov/covid-19-response/covid-19-response-resources/
Child Care $500.00 Mini-Grant: Opens 4/2 on this link: https://kschildrenscabinet.org/
To be eligible:
You must be a licensed child care provider in Kansas in good standing with the Kansas Department of Health and Environment. Providers that are not currently operating may request funds to support eventual reopening or engage with families while their facility is closed.
You cannot currently be receiving funding directly from the Children's Cabinet and Trust Fund through the ECBG or CBCAP programs. This restriction applies only to direct grantees from the Children's Cabinet.
You will need to submit a signed W-9 form, which you can do with your application OR send to us when you are awarded. You do NOT need to send it in to be considered - just to process funding. Click HERE to download a blank W9 form.
We anticipate being able to award 180 grants total.
Roger Marshall's Office is providing the updates for the latest stimulus bill. A lot of the details may be found here: https://marshall.house.gov/Coronavirus
If you filled this out already, it can roll over into the 7 (a) one with forgiveness. But you have to do this new online portal as well to get the new 10k advance.
A $10,000 advance is now available to help the business meet its immediate needs due to HARDSHIP. If eligible, the $10,000 advance/grant will be provided in 3 days.
Keep in mind that this new web portal does NOT allow you to save your
work, so you will need to finish it OR lose it and start over.
The only way to get the $10,000 advance is through the web portal. If you request the advance, you will NOT lose your place in line for the loan application portion of SBA EIDL.
You can apply for the EIDL loan AND the 7(a) but they cannot cover the same expenses. Keep ALL records!
This program was helpful during the Recession when employees had to be laid off.
What to Do if Your Employees don't want to Return to Work? https://www.inc.com/video/what-to-do-if-employees-dont-want-to-return-to-work.html?utm_source=incthismorning
Will you lose your loan forgiveness if your employees refuse to come back to work? See https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf Question 40, p. 13.
Paid Leave Under the Families First Coronavirus Response Act
The U.S. Department of Labor announced how American workers and employers can benefit from the protections and relief offered by the Emergency Paid Sick Leave Act and Emergency Family and Medical Leave Expansion Act, both part of the Families First Coronavirus Response Act (FFCRA).
The program will help the country combat the workplace impacts of the coronavirus by reimbursing employers with fewer than 500 employees with tax credits. FFCRA will ensure that workers are not forced to choose between their paychecks and the public health measures needed to combat the virus, while at the same time reimbursing businesses.
FFCRA will be administered by the Department of Labor’s Wage and Hour Division.
FFCRA https://www.dol.gov/agencies/whd/ffcra is a temporary measure and will be effective from April 1, 2020, through December 31, 2020.