Friday April 3, 2020
Dear Business Partners,
For a bit of light humor, I did not email you all an April Fools joke a few days ago, but you should know, I strongly considered it! Smiling and laughing a bit will not hurt this situation, so I hope you are all taking the time to do a little of both of those things!
It is Friday and the entire state of Florida is under a stay at home order. This means many of your businesses that were remaining open have now closed for the next 30 days. The MainStreet office is also officially closed now and we are all working from home.
This weekend, I highly encourage you to fill out two surveys.This is very important! State and Federal relief will be based off of this survey!
- Business Damage Assessment Survey for COVID-19
On March 12, Governor Ron DeSantis announced the activation of the
Business Damage Assessment survey
to assess the impact of COVID-19 on Florida’s local business operations. The survey, managed by the Florida Department of Economic Opportunity (DEO), will evaluate businesses affected by COVID-19 and the impacts the virus has had on the local economy so actions to implement appropriate relief programs can begin.
- Main Street America Damage Assessment Survey:
Over the last four decades, the Main Street America Network has painstakingly measured the impact of our work. Those numbers help us articulate the value of our work and make the case for the economic benefit of investing in Main Streets. It’s no exaggeration to say that data is a big part of the reason that our Main Street Network thrives. Now, they are asking for your help in gathering more data - this time to help us understand the threats faced by our small businesses in light of the COVID-19 pandemic. Specifically, we need to understand our business’ ability to withstand what may be a several months of suppressed revenue and we need to understand what kinds of support programs will have the most impact.
https://www.surveymonkey.com/r/6K96DHF
Also, for a bit of light reading, here is another good synopsis of the CARES and Payroll Protection Acts:
Lastly, I wish you all a good weekend, but Monday morning please contact your bank(s) to see if any are official lenders for the SBA loans/Paycheck Protection Program. 5/3 Bank is a lender and they have been thoroughly educated this week on processing these requests. You are your bank's customers; they are here to help you! Please call to schedule a time to discuss your options. This is federal relief aid that you should be considering and applying for.
Sincerely,
Kara Morgan
CEO
Venice MainStreet
INFORMATION FOR BUSINESSES Monday 3/30
ALL ITEMS LISTED ARE PROVIDED TO THE BEST KNOWLEDGE Of Venice MainStreet AT THE TIME of Notification FOR THE BENEFIT OF BUSINESSES.
To support our nonprofit and small business partners, here are highlights of available resources within the bill that would help those in need.
Small Business Administration (SBA) 7(a) Loan Program Section 1102. Paycheck Protection Program
- Increases the government guarantee of loans made for the Payment Protection Program under section 7(a) of the Small Business Act to 100 percent through December 31, 2020.
- Provides the authority for the Administrator of the U.S. Small Business Administration (SBA) to make loans under the Paycheck Protection Program.
- Defines eligibility for loans as a small business, 501(c)(3) nonprofit, veteran’s organization, or Tribal business concern with 500 employees, or the applicable size standard for the industry as provided by SBA, if higher. Applies current SBA affiliation rules to eligible nonprofits.
- Includes sole-proprietors, independent contractors, and other self-employed individuals as eligible for loans.
- Allows businesses with more than one physical location that employs no more than 500 employees per physical location in certain industries to be eligible.
- Waives affiliation rules for businesses in the hospitality and restaurant industries, franchises that are approved on the SBA’s Franchise Directory, and small businesses that receive financing through the Small Business Investment Company (SBIC) program.
- Defines the covered loan period as beginning on February 15, 2020 and ending on June 30, 2020.
- Increases the maximum 7(a) loan amount to $10 million through December 31, 2020 and provides a formula by which the loan amount is tied to payroll costs incurred by the business to determine the size of the loan.
- Specifies allowable uses of the loan include payroll support, such as employee salaries, paid sick or medical leave, insurance premiums, and mortgage, rent, and utility payments.
- Outlines the treatment of any portion of a loan that is not used for forgiveness purposes. The remaining loan balance will have a maturity of not more than 10 years, and the guarantee for that portion of the loan will remain intact.
- Allows complete deferment of 7(a) loan payments for at least six months and not more than a year, and requires SBA to disseminate guidance to lenders on this deferment process within 30 days.
- Allows borrowers who have received an economic injury disaster loan (EIDL) between February 15, 2020 and March 31, 2020 to receive assistance under this program through a refinancing mechanism.
Section 1105. Loan Forgiveness
- Establishes that the borrower shall be eligible for loan forgiveness equal to the amount spent by the borrower during an 8-week period after the origination date of the loan on payroll costs, interest payment on any mortgage incurred prior to February 15, 2020, payment of rent on any lease in force prior to February 15, 2020, and payment on any utility for which service began before February 15, 2020.
- Amounts forgiven may not exceed the principal amount of the loan.
- The amount forgiven will be reduced proportionally by any reduction in employees retained compared to the prior year and reduced by the reduction in pay of any employee beyond 25 percent of their prior year compensation. To encourage employers to rehire any employees who have already been laid off due to the COVID–19 crisis, borrowers that re-hire workers previously laid off will not be penalized for having a reduced payroll at the beginning of the period.
- Canceled indebtedness resulting from this section will not be included in the borrower’s taxable income.
Section 1109. Emergency Economic Injury Disaster Loans & Grants
- Expands eligibility for access to Economic Injury Disaster Loans (EIDL) to include startups, cooperatives, and ESOPs with fewer than 500 employees or any individual operating as a sole proprietor or an independent contractor during the covered period (January 31, 2020 to December 31, 2020).
- Requires that for any SBA EIDL loans made in response to COVID-19 before December 31, 2020, the SBA shall waive any personal guarantee on advances and loans below $200,000, the requirement that an applicant needs to have been in business for the 1-year period before the disaster, and the credit elsewhere requirement.
- During the covered period, allows SBA to approve and offer EIDL loans based solely on an applicant’s credit score, or use an alternative appropriate alternative method for determining an applicant’s ability to repay.
- Outlines that advance payment may be used for providing paid sick leave to employees, maintaining payroll, meeting increased costs to obtain materials, making rent or mortgage payments, and repaying obligations that cannot be met due to revenue losses.
- Establishes that applicant shall not be required to repay advance payments, even if subsequently denied for an EIDL loan.
- Requires that an advance payment be considered when determining loan forgiveness if the applicant transfers into the SBA’s 7(a) loan program.
SBA Resource Partners Section 1103. Entrepreneurial Development
- This section authorizes the SBA to provide additional financial awards to resource partners such as Small Business Development Centers and Women’s Business Centers to provide counseling, training, and education on SBA resources and business resiliency to small business owners affected by COVID-19. Resource partners can use these grants to establish:
- One online platform that consolidates resources and information available across multiple Federal agencies for small business concerns related to COVID–19; and
- A training program to educate Small Business Development Center, Women’s Business Center, Service Corps of Retired Executives, and Veteran’s Business Outreach Center counselors on the various federal resources available to ensure counselors are directing small businesses appropriately.
Section 1107. Minority Business Development Agency
- This section authorizes $10 million for the Minority Business Development Agency within the Department of Commerce to provide grants to Minority Business Centers and Minority Chambers of Commerce for the purpose of providing counseling, training, and education on federal resources and business response to COVID-19 for small businesses. It also eliminates the Minority Business Center program’s non-federal match requirement for a period of three months and allows for centers to waive fee-for-service requirements through September 2021.
Additional Resources and Provisions for Employers
Section 2103. Emergency Unemployment Relief for Governmental Entities and Nonprofit Organizations
- This section provides payment to states to reimburse nonprofits, government agencies, and Indian tribes for half of the costs they incur through December 31, 2020, to pay unemployment benefits.
Section 2108. Temporary Financing of Short-Time Compensation Payments in States with Programs in Law
- This section provides funding to support “short-time compensation” programs, where employers reduce employee hours instead of laying off workers and employees with reduced hours receive a prorated unemployment benefit. This provision would pay 100 percent of the costs they incur in providing this short-time compensation through December 31, 2020.
Section 2301. Employee Retention Credit for Employers Subject to Closure Due to COVID-19
- The provision provides a refundable payroll tax credit for 50 percent of wages paid by employers to employees during the COVID-19 crisis. The credit is available to employers whose (1) operations were fully or partially suspended, due to a COVID-19-related shut-down order, or (2) gross receipts declined by more than 50 percent when compared to the same quarter in the prior year.
The credit is based on qualified wages paid to the employee. For employers with greater than 100 full-time employees, qualified wages are wages paid to employees when they are not providing services due to the COVID-19-related circumstances described above. For eligible employers with 100 or fewer full-time employees, all employee wages qualify for the credit, whether the employer is open for business or subject to a shut-down order. The credit is provided for the first $10,000 of compensation, including health benefits, paid to an eligible employee. The credit is provided for wages paid or incurred from March 13, 2020, through December 31, 2020.
Section 2302. Delay of payment of employer payroll taxes
- The provision allows employers and self-employed individuals to defer payment of the employer share of the Social Security tax they otherwise are responsible for paying to the federal government with respect to their employees. Employers generally are responsible for paying a 6.2-percent Social Security tax on employee wages. The provision requires that the deferred employment tax be paid over the following two years, with half of the amount required to be paid by December 31, 2021, and the other half by December 31, 2022. The Social Security Trust Funds will be held harmless under this provision.
Section 2303. Modifications for Net Operating Losses
- The provision relaxes the limitations on a company’s use of losses. Net operating losses (NOL) are currently subject to a taxable-income limitation, and they cannot be carried back to reduce income in a prior tax year. The provision provides that an NOL arising in a tax year beginning in 2018, 2019, or 2020 can be carried back five years. The provision also temporarily removes the taxable income limitation to allow an NOL to fully offset income. These changes will allow companies to utilize losses and amend prior year returns, which will provide critical cash flow and liquidity during the COVID-19 emergency.
National Trust for Community Investment Corporation-Learning event/Webinar/Recording March 31 Registration Link-STAY INFORMED
Florida Restaurant and Lodging Association You Tube Video-STAY INFORMED
INFORMATION FOR BUSINESSES Tuesday 3/24
ALL ITEMS LISTED ARE PROVIDED TO THE BEST KNOWLEDGE Of Venice MainStreet AT THE TIME of Notification FOR THE BENEFIT OF BUSINESSES.
How to create an online store Information:
If this all seems to overwhelming and you would rather hire
someone to help you- Please consider Michael from Karma Marketing and Media-His business is MainStreet's go-to!
Sarasota County Economic Development Corporation:
Visit Florida Dashboard of Ecomomic Impact and Tourism:
INFORMATION FOR BUSINESSES Monday 3/23
ALL ITEMS LISTED ARE PROVIDED TO THE BEST KNOWLEDGE Of Venice MainStreet AT THE TIME of Notification FOR THE BENEFIT OF BUSINESSES.
Tax Day is extended from April 15, 2020 to
July 15, 2020
. Taxpayers can also defer federal income tax payments due on April 15, 2020 to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax.
Under the Families First Coronavirus Response Act (Act) signed by President Trump,
small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing Coronavirus-related leave to their employees.
The Act provides all American businesses with fewer than 500 employees funds to provide employees with paid leave, either for the employee's own health needs or to care for family members.
Paid Sick Leave for Workers
Paid Sick Leave Credit
Child Care Leave Credit
Prompt Payment for the Cost of Providing Leave
Complete Coverage
INFORMATION FOR BUSINESSES Friday 3/20
ALL ITEMS LISTED ARE PROVIDED TO THE BEST KNOWLEDGE Of Venice MainStreet AT THE TIME of Notification FOR THE BENEFIT OF BUSINESSES.
EXECUTIVE ORDER NUMBER 20-72 Closure of Restaurants and Gyms
From Sarasota County Economic Development Department
Rebuild Florida:Business Recovery
Help with SBA Loan Applicatoins:
Local SBA Bridge Loan Contact Information:
Serving the following counties:
DeSoto , Hardee, Hernando, Highlands,
Hillsborough, Manatee, Pasco, Pinellas, Polk, and Sarasota County
Informational Article
For Restaruants:
From the City of Venice:
In the effort to limit the spread of COVID-19 (coronavirus) in the community, the City of Venice will temporarily close all its buildings to the public effective Monday, March 23, but will remain staffed. This includes City Hall, Public Works and Utilities.
Online services, phone operations, email and physical mail will remain available and be reviewed by staff. Online services at
www.venicegov.com
include the ability for citizens to pay a utility bill or apply for a permit.
People can call the City’s main number at 941-486-2626 from 8 a.m.-4 p.m. Monday-Friday and be directed to the department they need.
The Cashier’s Office and Building Departments at City Hall, 401 W. Venice Ave., will have drop boxes available for customers wanting to drop off payments or documents.
The Venice Museum and the Julia Cousins Laning and Dale Laning Archives & Research Center have been closed to the public since March 16.
--------------------------------------
Below is a list of phone numbers and emails for individual City departments:
Fire (non-emergency): 480-3030
Police (non-emergency): 941-486-2444
Utilities:
INFORMATION FOR BUSINESSES Thursday 3/19
ALL ITEMS LISTED ARE PROVIDED TO THE BEST KNOWLEDGE Of Venice MainStreet AT THE TIME of Notification FOR THE BENEFIT OF BUSINESSES.
From Visit Sarasota:
In continued efforts to mitigate the spread of COVID-19 in our community, and in alignment with CDC guidelines, Sarasota County will be closing county operated public beaches 6 a.m. Saturday, March 21 until further notice. Manatee County operated beaches will also close at this time.
Lifeguards will remain on duty at the beaches between 10 a.m. and 4:45 p.m. daily in order to ensure the safety of those who continue to visit the beaches. A double red flag, indicating no swimming, will be flying from lifeguard stands.
Lifeguards will continue to work with law enforcement partners to proactively educate and interact with beachgoers. This is an effort to keep beachgoers informed on the current direction from Governor Ron DeSantis and other beach policies.
Note: Manatee County operated beaches will also close at this time.
US SBA fact sheet for Economic Injury Disaster Loans. Deadline to file is: 12/18/2020
FREQUENTLY ASKED QUESTIONS RELATED TO RESTAURANTS, BARS AND NIGHTCLUBS
FAQs from Florida Restuarant and Lodging Association
INFORMATION FOR BUSINESSES Wednesday 3/18
ALL ITEMS LISTED ARE PROVIDED TO THE BEST KNOWLEDGE Of Venice MainStreet AT THE TIME of Notification FOR THE BENEFIT OF BUSINESSES.
Representative Steube's office resource guide for SBA from SBDC
Click
here
for the resource guide from SBDC (Small Business Development Center)
For our local chapter of SBDC click
here
SBA Bridge Loan Webinar available Thursday 3/19 at 11am and 2pm
The webinar includes:
FRLA/ DEO/ Florida SBDC Network:
Bridge Loan Program Activated to Help Small Businesses Impacted by Coronavirus
Learn how Florida small businesses impacted by the Coronavirus (COVID-19) can now apply for short-term, interest free loans through the Florida Small Business Bridge Loan Program.
Panelists include:
• Carol Dover, President & CEO, Florida Restaurant & Lodging Association
• Ken Lawson, CEO, Department of Economic Opportunity
• Mike Myhre, CEO, Florida Small Business Development Center Network
From Governor DeSantis:
Governor DeSantis has reminded Floridians that if their employment has been negatively impacted because of mitigation efforts to stop the spread of COVID-19, these Floridians may be eligible to receive Reemployment Assistance.
Click here
for more information.
UBER Eats Announcement:
Uber Eats waives delivery fees for over 100,000 independent restaurants
In response to the coronavirus pandemic and its impact on the restaurantindustry, Uber Eats is waiving delivery fees for over 100,000 independentrestaurants across the US and Canada. It's the latest move by gig-economybusinesses like Uber, Lyft and Grubhub to help alleviate some of the financial challenges that the coronavirus outbreak presents.
Uber Eats is also launching daily marketing campaigns to promote delivery from local restaurants, especially those that are new to the app. It will allow restaurants of all sizes to opt into daily payments on all Uber Eats orders, rather than weekly billing, and it has committed 300,000 free meals on Uber Eats to first responders and healthcare workers in the US.
Uber Eats, along with other delivery services like Instacart, Grubhub, Postmates and Seamless, have been encouraging customers to select
no-contact delivery
. Both Grubhub and Seamless have temporarily
suspended commission fees
for independent restaurants, as well.
Earlier today, Uber announced that it will offer
two weeks of pay to drivers and delivery people
who test positive for COVID-19 and those who are forced to quarantine. The company also says that it's providing them with sanitization products to help limit the spread of the virus.
Johns Hopkins Coronavirus COVID-19 Global Cases Map:
Just the facts-
this map shows a global veiw of the number of cases and deaths from Coronavirus COVID-19
INFORMATION FOR BUSINESSES TUESDAY 3/17
ALL ITEMS LISTED ARE PROVIDED TO THE BEST KNOWLEDGE Of Venice MainStreet AT THE TIME of Notification FOR THE BENEFIT OF BUSINESSES.
Coronavirus Guidance Issued by the White House last night:
The President also made the following announcements yesterday:
Fed Chairman approves request to use 13(3) - $10 Billion from Fed to guarantee purchase of $1 Trillion in commercial paper
$300 Billion in income tax is deferred. If you can file on April 15, particularly if you are due refund, then use the current deadline. If you owe money to the IRS you can defer up to $1,000,000.00 for 90 days.
Business interruption payments to workers pending before Congress. Looking to send checks to Americans immediately. Looking for delivery in next two weeks.
Business resiliency payments pending before Congress.
Restaurants offering pickup and delivery should remain open.
Florida Governor DeSantis Suspends Bars and Nightclubs for 30 days(as of 11am):
Florida Governor DeSantis Opens Bridge Loans to Small Businesses:
Loans from the State of Florida for small business with 2 – 100 employees. Loans up to $50,000.00. No interest. Funds are available immediately. The link is
https://floridadisasterloan.org/
Florida Department of Economic Opportunity (DEO): Business Damage Assessment Survey:
Find the
Business Damage Assessment Survey that is managed by the Florida Department of Economic Opportunity (DEO) to evaluate businesses affected by COVID-19 and the overall impact to our local economy.
If possible please take a moment to complete this survey, as it will impact the relief programs that are initiated.
SNAP RETAIL offers unlimited free trial to small businesses during the COVID-19 Crisis:
Email marketing and social media platform for your small business-why not?-its free!
Sign up for your free trial
here.
INFORMATION FOR BUSINESSES Monday 3/16
ALL ITEMS LISTED ARE PROVIDED TO THE BEST KNOWLEDGE Of Venice MainStreet AT THE TIME of Notification FOR THE BENEFIT OF BUSINESSES.
How to Help Minimize Business Disruption During Emergencies:
In challenging circumstances, it may be more difficult than usual for your business to support its employees and communicate with customers. Below are some recommendations and resources that can help you minimize disruptions.
Stay connected with your customers and employees
Send emails, update your website, use social media, if possible call clients and customers. In a way your are creating digital storefronts for your business, and will allow you to stay connected with your customers and employees virtually—from nearly anywhere, anytime.
Stay connected with your customers and employees
Whether your business sells goods or provides services, reliable communication channels can help ensure your customers and employees are getting the support they need.
Connect with your customers using Live platforms
Live videos can be a great way to proactively educate your customers during this situation. You can post Live videos and stories on Facebook and Instagram, host virtual events to show your customers how you’re actively keeping your premises and products safe, and answer customer inquiries about how your business will continue to support its customers.
Learn more about going
Live on Facebook and Instagram click
here.
Build out your messaging experience
Be responsive and provide your customers transparency during this time. Ensuring responses are timely. In addition to answering customer inquiries, you can also take orders, provide virtual services and host video chats. You can also automate and templatize your responses, and prepare FAQs with away messages and quick replies.
Stay connected with your employees
It’s also important to stay connected with your employees during this period. You can use Workplace from Facebook as a hub to post important announcements, coordinate responses and provide your employees with any support they may need.
Zoom GoToMeeting is also an excellent resource for virtual meetings.
Use additional channels to showcase your products and services
If your products or services can be bought or used online, consider strengthening your online presence. If you sell goods, you can create an online product catalog to showcase your items, fulfill orders and receive payouts. If your business provides services, you can book appointments and make video calls.
Continue to build your brand
At this time, it can be challenging to conduct business as usual, but it’s important not to neglect your brand. Do what you can to provide consistent messaging and transparent communication during this time and once the situation has passed.
Strengthen your online presence
Make sure you post photos and videos about your business, products or services consistently. Consider creating an announcement about how your business has been affected and pin it to the top of your Page.
Consider creating a content calendar to plan out posts for the next few weeks. Organize your messaging and visuals. Make sure your posts continue to have a consistent look and feel, and
highlight what makes your business unique and special.
Interact with new and existing customers in a personal way. Share authentic content, make announcements, encourage people to visit your website and show behind the scenes moments to continue to engage your community.
We hope that this information is positive and helpful in your businesses' response to the necessary social distancing due to COVID-19.
Sincerely,
Kara Morgan
CEO
Venice MainStreet
INFORMATION FOR BUSINESSES Friday 3/13 PM
FLORIDA BUSINESSES AND EMPLOYERS SHOULD REFER TO THE
CDC
FOR UP-TO-DATE GUIDANCE ON BUSINESS OPERATIONS.
ALL ITEMS LISTED ARE PROVIDED TO THE BEST KNOWLEDGE Of Venice MainStreet AT THE TIME of Notification FOR THE BENEFIT OF BUSINESSES.
Recommended Strategies
- Actively encourage sick employees to stay home
- Emphasize staying home when sick, respiratory etiquette, and hand hygiene for all employees
- Perform routine environmental cleaning.
- Advise employees before traveling to take preventative steps recommended by CDC.
Resources for Businesses and Employers
Business Damage Assessment Survey for COVID-19
On March 12, Governor Ron DeSantis announced the activation of the
Business Damage Assessment survey
to assess the impact of COVID-19 on Florida’s local business operations. The survey, managed by the Florida Department of Economic Opportunity (DEO), will evaluate businesses affected by COVID-19 and the impacts the virus has had on the local economy so actions to implement appropriate relief programs can begin.
The National Small Business Association
also has set up an online portal for small businesses to share how their business are being impacted in order to provide real-time insight to reporters and policymakers on what small business needs. They have been connecting small-business owners with reporters to get the word out about how the virus is impacting them which has resulted in some important coverage.
Potential HR Issues Arising from the Coronavirus
The American Society of Employers (ASE) has put together a very comprehensive
FAQ
regarding coronavirus and how employers can respond to and work with your employees.
Small-business owners should also be aware that there may be some OSHA-related implications when it comes to the virus. Companies in certain industries where workers are at risk of encountering infection may be subject to requirements to protect workers from exposure by using appropriate personal protective equipment such as gloves, eye, face, and respiratory protection. If a worker becomes sick after exposure on the job, it could be a recordable illness. To read more
click here.
In addition to these resources, it is worth noting that the U.S. Senate Committee on Small Business and Entrepreneurship sent a formal letter and request to the U.S. Small Business Administration (SBA) to detail its plan to support small business in the case of a broad outbreak. Committee Chair Marco Rubio (R-Fla.) and Ranking Member Ben Cardin (D-Md.) have also requested a formal briefing from SBA Administrator Jovita Carranza.
The letter can be found
here
.
We hope this information is helpful and we will continue to update you as more becomes available.
Sincerely,
Kara Morgan
(941)-484-6722