Help for your business

This is a frightening time.

We are worried about family and friends, ourselves and the very fabric of life in the United States.

And I know many, many of you are scared of what this unprecedented national crisis will do to your business. We've talked, emailed and messaged today and I understand how concerned you are about your employees, your families and the community.

Here at the Chamber, we share those concerns and are committed to assist in any way we can to help this community be restored to the vibrant, thriving place so many love. We'll be here for you today, tomorrow and six months from now. That's our pledge to you.

With things evolving almost hourly, we don’t want to inundate you several times a day with emails. To that end, we have created a business resource page on our website, which will be updated often. You can find that HERE .

We will keep that page updated daily, and try to post new options on our 3 Towns, 1 Community page as well.

For now, the headlines are that the federal government has proposed a trillion-dollar economic package that will now work its way through the House and Senate.

In Maine, Gov. Mills worked to have Maine both cover COVID-19-related unemployment as well as be declared a disaster area and making it eligible for SBA Disaster Loans .

Below, you'll find information from the SBA, as well as a link to start the application process. There's also a series of SBA conference calls below, including one on disaster loans on March 24.

In addition, unemployment benefits will be available for employees filing for time missed to COVID-19, but only after it is approved by the legislature (due to happen tomorrow). There are more details and a link below, as well as a link to disaster benefits for the self-employed.

Please let us know if we can help in any way. We have created an Operation Takeout landing page for food options, and an Operation Outdoors page for people to enjoy the outdoors. We are considering working on a "Pay Now, Play Later" gift certificate program, so if you're interested, please let us know.

For now, stay calm.

Stay informed.

Support your neighbors.

And let’s all look forward to better times ahead.

Laura



Unemployment information
From the State of Maine:

Regarding unemployment, the Governor has proposed new legislation that would enhance the flexibility of the Unemployment Insurance program to address issues that arise during a public health emergency. We expect that the bill will be taken up by the Legislature on Tuesday, March 17 . Once final action on the new bill is taken, the Department will post information about the adjustments to the program as well as answers to common questions.

For the time being, the Department advises all individuals who are out of work either partially or totally to visit  www.maine.gov/unemployment/  to file a claim. The Department will update this page once the legislation is enacted. Please check back to the site above.

Background on the Governor’s proposed unemployment insurance bill:

It would temporarily revise eligibility requirements to include situations not typically covered unemployment insurance, such as:
  • An employer temporarily ceases operation due to COVID-19
  • An individual is quarantined with the expectation of returning to work once the quarantine is over
  • An individual leaves employment due to the risk of exposure or infection or to care for a family member

Please note, the proposed legislation is not intended to provide sick leave or short-term disability payments.
The bill would also waive the work search requirement for individuals still connected to their employer and would waive the one-week waiting period so that benefits will be available sooner.

In addition, any benefits paid under these provisions would not affect the employer’s experience rating record . These measures will help relieve the burden of temporary layoffs, isolation, and medically-necessary quarantine on Maine workers and small businesses.
Disaster Unemployment Assistance (DUA)

Disaster Unemployment Assistance (DUA) provides financial assistance to individuals whose employment or self-employment has been lost or interrupted as a direct result of a major disaster and who are not eligible for regular unemployment insurance benefits.

Eligibility
When a major disaster has been declared by the President, DUA is generally available to any unemployed worker or self-employed individual who lived, worked, or was scheduled to work in the disaster area at the time of the disaster; and due to the disaster:
  • no longer has a job or a place to work; or
  • cannot reach the place of work; or
  • cannot work due to damage to the place of work; or
  • cannot work because of an injury caused by the disaster.
An individual who becomes the head of household and is seeking work because the former head of household died as a result of the disaster may also qualify for DUA benefits.

Click HERE for more information

SBA Resources Available for Small Businesses Impacted by COVID-19 in Maine
The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to Maine 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. Janet T. Mills on March 13, 2020.

The disaster declaration makes SBA assistance available in the entire state of Maine and the contiguous counties of Carroll, Rockingham and Stratford in New Hampshire. 

Small Businesses may apply for Economic Injury Disaster Loans by visiting  www.sba.gov/disaster
SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance per small business and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact . The interest rate is 3.75% for small businesses without credit available elsewhere ; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75% .

SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years . Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.

SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal government’s coordinated response, and the SBA is strongly committed to providing the most effective and customer-focused response possible.

For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail  disastercustomerservice@sba.gov .
STEP 1) Apply: 1) online; 2) in-person at a disaster center; or 3) by mail.  Apply online at the SBA’s secure website disasterloan.sba.gov/ela.  As a business of any size, you may borrow up to $2 million for physical damage.  As a small business, small agricultural cooperative, small business engaged in aquaculture, or private non-profit organization you may borrow up to $2 million for Economic Injury.  As a small business, you may apply for a maximum business loan (physical and EIDL) of $2 million.  As a homeowner you may borrow up to $200,000 to repair/replace your disaster damaged primary residence.  As a homeowner or renter, you may borrow up to $40,000 to repair/replace damaged personal property.

STEP 2) SBA reviews your credit before conducting an inspection to verify your losses.  An SBA verifier will estimate the total physical loss to your disaster damaged property.  A loan officer will determine your eligibility during processing, after reviewing any insurance or other recoveries. SBA can make a loan while your insurance recovery is pending.  A loan officer works with you to provide all the necessary information needed to reach a loan determination. Our goal is to arrive at a decision on your application within 2 - 3 weeks.  A loan officer will contact you to discuss the loan recommendation and your next steps. You will also be advised in writing of all loan decisions.

STEP 3) SBA will prepare and send your Loan Closing Documents to you for your signature.  Once we receive your signed Loan Closing Documents, an initial disbursement will be made to you within 5 days:  Physical damage:  $25,000  Economic injury (working capital):  $25,000 (In addition to the Physical damage disbursement)  A case manager will be assigned to work with you to help you meet all loan conditions. They will also schedule subsequent disbursements until you receive the full loan amount.  Your loan may be adjusted after closing due to your changing circumstances, such as increasing the loan for unexpected repair costs or reducing the loan due to additional insurance proceeds.



Coronavirus Special Topic Conference Call Series

Please join the Small Business Administration and the U.S. Department of Commerce for our special topic conference call series. This series of conference calls will run throughout the Spring 2020.

Registration  for this series is FREE. Please register using the button below, you only have to register once as the conference call details will be identical for every topic.

Schedule:

Wednesday, March 18, 2020 (1pm-2pm Eastern)
Force Majeure both for Contracts/Suppliers, Cancellation of Trade Shows
Robinson& Cole LLP partners Jeff White and Taylor Shea will discuss the impact that coronavirus is having or may have on commercial transactions, including in the supply chain. They will discuss some of the basics surrounding “force majeure” clauses and how companies can plan for and react to the current health emergency.

Thursday, March 19, 2020 (1pm-2pm Eastern)
ThomasNet Survey and How Business are Coping 
Thomas, North America’s leading industrial sourcing and marketing platform, surveyed over 1,000 manufacturing companies to understand coronavirus’ immediate impacts on North American manufacturing. Listen to their results and discussion.
Speaker: Tony Uphoff, CEO, ThomasNet

Tuesday, March 24, 2020 (1pm-2pm Eastern)
SBA Disaster Loan
The SBA will be providing to small businesses Impacted by Coronavirus (COVID-19) Up to $2 Million in Disaster Assistance Loans. Wendell Davis, Regional Administrator, SBA will discuss the SBA’s Economic Injury Disaster Loan program and how eligible companies can benefit from the program.

Wednesday , March 25, 2020 (11am - 12pm Eastern)
Aerospace/Defense Supply Chain Firms—Evolving Business Practices and Business Development Strategies Amidst COVID-19
Hear from the Midlands Aerospace Alliance and Netherlands Industries for Defense & Security about how COVID-19 has affected their member firms, strategies European firms have employed to keep business moving forward, and an idea exchange for how transatlantic business relationships can be maintained amidst the rapidly evolving COVID-19 situation. 
Speakers:
Dr. Andrew Mair, Chief Executive, Midlands Aerospace Alliance
Mr. Peter Huis in ’t Veld, Business Development Manager, Netherlands Industries for Defense & Security (NIDV)

Wednesday , March 25, 2020 (1pm-2pm Eastern)
Cyber Security Concerns While Teleworking 
Employees that normally work from their work PC are now using personal equipment and residential internet access. What are the risks and best way to mitigate.
Speakers:
Andy Sauer, Director of Cybersecurity, Steel Root
Shahryar Shaghaghi, Principal, CohnReznick Advisory

Thursday , March 26, 2020 (1pm- 2pm Eastern)
Employment Issues Related to Teleworking
Matthew T. Miklave, Partner, Robinson & Cole LLP will discuss HR issues presented by coronavirus and off site working along with federal, state and local policies. 
Maine DECD Discussion on Impact of COVID-19 on Small Business

The Maine Department of Economic and Community Development invite you to join Commissioner Heather Johnson and Commissioner of Labor Laura Fortman on Wednesday, March 18, at 3:00 p.m. for a CoronaVirus business impact and resource discussion via zoom.

Join Zoom Meeting

Meeting ID: 204 016 883

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