April 15 Breakfast Brief 🍮

UPDATE: APRIL 15, 2020

Greetings!

The Guam Department of Labor (DOL) has issued updated guidelines on April 14th about the requirement for businesses that have displaced workers to register their company in the Department's virtual one-stop portal, HireGuam.com . According to their Release , this requirement is set in place for the Department to have a dual verification process for when employees apply for Pandemic Unemployment Assistance (PUA) along with Federal Pandemic Unemployment Compensation (FPUC ). We were made to understand that the registration process is not lengthy. You can read more about the registration process in DOL's news release here.

Additionally, DOL is reminding employers to provide certification letters to all displaced workers indicating whether the employee has been furloughed, laid off or have reduced hours due to the COVID-19 pandemic. If you are needing a template for your letter, the SHRM website has one that may work for you or at least get you started. Your participation and compliance in this process is much appreciated and is imperative for displaced workers to receive unemployment compensation from the U.S. Federal Government.

We are pleased to partner with Guam SBDC and the SBA Guam Branch to offer businesses a webinar this Friday to provide an overview of the SBA financial assistance programs for companies affected by the COVID-19 crisis. Please scroll down to read more about this event.

We are taking a member pulse poll to help us determine what type of support and programs to assist you with as you work on getting back to work. We look forward to your participation.

We appreciate our members who have joined us in sending letters, email messages, voice messages and phone calls to our senators to get them to support our local businesses and jobs for our people. Keep the pressure on!

Thank you for all the things you do to keep your immediate community Coronavirus free. Keep well and be safe.

Onward Together,

Catherine Castro

President

Guam Chamber of Commerce

CORONAVIRUS:

UPDATES & INFORMATION FOR YOUR BUSINESS

Together with the Guam SBDC and the US SBA Guam Office we are pleased to present this Friday's webin ar entitled Understanding your Business's Options for COVID-19 Relief . The webinar will provide a brief overview on the U.S. SBA loan assistance programs specific to assistance offered in the CARES Act.

The webinar will take place this Friday, April 17th. An opportunity for Q & A with the SBA Guam Office will be available at the end of their presentation. This event is free however space is limited and interested individuals must register to save a space.

Member Pulse Poll

We put together a brief poll to help us determine what type of support and programs to assist you with as you work on getting back to work . Please take some time to provide us with some feedback. We look forward to your participation.

Take the Poll

CARES Financial Assistance C omparison Matrix

We've updated the comparison matrix for you! We developed the matrix to help you figure out what program would work best for your business.

Download the Chamber's Matrix

GOVERNMENT OF GUAM UPDATES

GUAM ECONOMIC DEVELOPMENT AUTHORITY

View updates and pertinent links on the Guam Economic Development Authority (GEDA) website

GUAM VISITORS BUREAU

GVB has gathered market intelligence and local updates that affect our industry.

View the latest industry update here

DPHSS

View updates from the department’s website

View JIC Release No. 72 Re: DPHSS Guidelines on Mandatory Customs Declarations regarding the importation of items related to COVID-19

DEPARTMENT OF REVENUE & TAXATION

View Website to Register

See COVID-19 Updates from the Department here

JOINT INFORMATION CENTER (JIC)

View updated JIC notices

Helpful Resource Links

US DEPARTMENT OF LABOR

INTERNAL REVENUE SERVICE (IRS)

U.S. SBA GUIDANCE & LOAN RESOURCES

CONGRESSIONAL VETERAN'S ADVISORY COUNCIL

U.S. CHAMBER RESOURCES

GUIDANCE AND RESOURCES

We have updated and added to the links below as new guidance and resources have become available:

Small Businesses need more help from Congress

LIVE Blog

Emergency Loans: Small Business Guide (Updated)

The Families First Coronavirus Response Act

Coronavirus Resource Hub for Small Businesses

Paid Leave Program: Employer's Guide

For more info, please visit the CDC’s Guidance for Businesses page .

US SBA website

Download Small Biz Guide

SBA Disaster Assistance to Guam Small Businesses Economically Impacted by the Coronavirus (COVID-19)

Payroll Protection Program PPP

Starting April 3, 2020, small businesses and sole proprietorshipscan apply. Starting April 10, 2020, independent contractors and self-employed individuals can apply. We encourage you to apply as quickly as you can because there is a funding cap.

Economic Injury Loan

This program provides small businesses with working capital loans of up to $2 million.

Program Information

Express Bridge Loan Pilot Program

This program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork.

Program Guide

Learn about more SBA Programs here

List of SBA's lending partners on Guam

GUAM CHAMBER OF COMMERCE

671.472-6311 | info@GuamChamber.com.gu