CARES Act Guide for Small Businesses

Congress has approved $350 billion in emergency loans for small businesses to help them keep workers employed. In fact, if small businesses maintain or later restore their payrolls, they may not have to repay some — or possibly any — of the loan. Here’s  a guide and checklist from the U.S. Chamber of Commerce  to help your small business through the process.   
CARES Act Resources

Small Business Owners Guide can be found: here
US Chamber of Commerce Summary can be found: here
Bill text can be found: here.
A section-by-section summary released by the Senate can be found here .
A summary of the appropriations provisions released by the Senate can be found here .

New Paid Family and Medical Leave Requirements

As part of a new federal law to respond to the coronavirus, certain employers will be required to provide employees with paid sick leave or expanded family and medical leave for absences related to COVID-19. Wages paid under the new law will be reimbursed to business owners on a dollar-for-dollar basis through business tax credits.

The Pennsylvania Department of Labor and Industry has created a webpage to help employers and employees better understand the new requirements. Fact sheets for employers and employees, answers to frequently asked questions and other helpful links are  available here .

Small and midsize employers will benefit from two new  refundable payroll tax credits , designed to immediately and fully reimburse them for the cost of providing Coronavirus-related family and medical leave and sick leave to their employees.
Monday, March 30, 2020: Briefing on Emergency Coronavirus Funding for 501(c)3 Nonprofits

You are invited to join the U.S. Chamber Foundation this  Monday, March 30, 2020 at 12:30 p.m. ET  for an online briefing on how 501(c)3 nonprofit organizations can benefit from the Coronavirus Aid, Relief, and Economic Security (CARES) Act. U.S. Chamber Foundation president Carolyn Cawley and U.S. Chamber chief policy officer Neil Bradley will discuss how the CARES Act impacts nonprofit 501(c)(3) organizations, what to expect regarding the implementation phase, and how it can be used to help nonprofits during this unprecedented crisis.

Waivers for Businesses

If your business has submitted a waiver and has not received a response, please DO NOT resubmit a waiver. DCED is working quickly to process 25,000 waivers at this time and will respond to your waiver as soon as possible. Please see  this link  for a revised FAQ listing on submissions.

Those businesses requesting clarification on whether they are defined as life-sustaining should  check this list , email the Department of Community and Economic Development (DCED) customer service resource account at , or call 1-877-PA-HEALTH and select option 1 to reach DCED staff.
Coronavirus and Small Business Webinar –
Next Steps and Best Practices

You can download the presentation PDF and listen to the webinar recording here:
SBA Disaster Loan

SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance 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.

Businesses may obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing impaired), or by e-mailing .

Loan applications can also be downloaded at . Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at . Completed applications should be returned to the local DLOC or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to return economic injury disaster loan applications is Dec. 21, 2020.
New Options for SBA Express
Have you previously worked with an SBA Express Lender for small business? You may qualify for an Express Bridge Loan to help you overcome temporary loss of revenue. These loans can help you overcome the temporary loss of revenue you are experiencing and can be a term loan or used to bridge the gap while applying for an SBA Economic Injury Disaster loan.  Learn more
Reminder: FREE Dale Carnegie Webinars

Dale Carnegie Training & JR Rodgers Associates is trying to help in this difficult time, so they are offering FREE 90 minutes workshop -"How Leaders Lead Through a Crisis". Any members or business can self- enroll on-line -  - there are different times and dates to self-enroll at no cost.
Reminder: Working Capital Access (CWCA) Program

The COVID-19 Working Capital Access (CWCA) program will provide working capital financing for eligible small businesses that have been impacted by COVID-19 and have 100 or fewer full-time employees. Max loan amount is $100,000 with no job retention/ creation requirements. Learn more:
Huntingdon County Strong:
Business and Community Resources

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Yvonne Martin
President/ CEO

MacKenzie Huntsman
Program Director

Phone: 814-643-1110
Fax: 814-643-1115
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Looking to start an endowment or to support community efforts? Click the logo above to learn more about the Huntingdon County Foundation.