• COVID-19 (Coronavirus) Important Information:

    For the most up to date information on Connecticut’s response to the coronavirus pandemic and resources visit ct.gov/coronavirus.

     

    UPDIKE, KELLY & SPELLACY, P.C. (UKS) COVID-19 : RESOURCES AND ALERTS :

    Attorney Bonnie Kumiega, shareholder at Updike, Kelly & Spellacy, P.C. shares the Response Team at UKS valuable resources and alerts during this COVID-19 Pandemic for our clients and the community: These and new alert updates are available at http://www.uks.com

    Be safe!

    Bonnie D. Kumiega, Esq.
    Bonnie D. Kumiega
    Shareholder | Updike, Kelly & Spellacy, P.C.
    (Office)
    860-548-2664 (Mobile) 860-214-4783
    bkumiega@uks.com | www.uks.com
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    Coronavirus (COVID-19): Small Business Guidance & Loan Resources

    Health and government officials are working together to maintain the safety, security, and health of the American people. Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy.

    Content


    Paycheck Protection Program

    The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.

    Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.

    Under this program:

    • Eligible recipients may qualify for a loan up to $10 million determined by 8 weeks of prior average payroll plus an additional 25% of that amount.
    • Loan payments will be deferred for six months.
    • If you maintain your workforce, SBA will forgive the portion of the loan proceeds that are used to cover the first 8 weeks of payroll and certain other expenses following loan origination.

    Click here to learn more.

    Economic Injury Disaster Loans and Loan Advance

    To apply for a COVID-19 Economic Injury Disaster Loan, click here.

    In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.

    The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.

    SBA Debt Relief

    The SBA Debt Relief program will provide a reprieve to small businesses as they overcome the challenges created by this health crisis.

    Under this program:

    • The SBA will also pay the principal and interest of new 7(a) loans issued prior to September 27, 2020.
    • The SBA will pay the principal and interest of current 7(a) loans for a period of six months.

    SBA Express Bridge Loans

    Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.

    Terms

    • Up to $25,000
    • Fast turnaround
    • Will be repaid in full or in part by proceeds from the EIDL loan


    Find an Express Bridge Loan Lender by connecting with your local SBA District Office.

    Guidance for Businesses and Employers

    The President's Coronavirus Guidelines for America - 15 Days to Slow the Spread

    The Centers for Disease Control and Prevention (CDC) offers the most up-to-date information on COVID-19. This interim guidance is based on what is currently known about the coronavirus disease 2019 (COVID-19). For updates from CDC, please see the following:

    The following interim guidance may help prevent workplace exposures to acute respiratory illnesses, including COVID-19, in non-healthcare settings. The guidance also provides planning considerations if there are more widespread, community outbreaks of COVID-19.

    To prevent stigma and discrimination in the workplace, use the guidance described below and on the CDC’s Guidance for Businesses and Employers web page.

    Below are recommended strategies for employers to use now. In-depth guidance is available on the CDC’s Guidance for Businesses and Employers web page:

    • Actively encourage sick employees to stay home
    • Separate sick employees
    • Emphasize staying home when sick, respiratory etiquette and hand hygiene by all employees
    • Perform routine environmental cleaning
    • Advise employees before traveling to take certain steps
      • Check the CDC’s Traveler’s Health Notices for the latest guidance and recommendations for each country to which you will travel. Specific travel information for travelers going to and returning from designated countries with risk of community spread of Coronavirus, and information for aircrew, can be found on the CDC website.
    • Additional Measures in Response to Currently Occurring Sporadic Importations of the COVID-19:
      • Employees who are well but who have a sick family member at home with COVID-19 should notify their supervisor and refer to CDC guidance for how to conduct a risk assessment of their potential exposure.
      • If an employee is confirmed to have COVID-19, employers should inform fellow employees of their possible exposure to COVID-19 in the workplace but maintain confidentiality as required by the Americans with Disabilities Act (ADA). Employees exposed to a co-worker with confirmed COVID-19 should refer to CDC guidance for how to conduct a risk assessment of their potential exposure.

    Common Issues Small Businesses May Encounter:

    • Capital Access – Incidents can strain a small business's financial capacity to make payroll, maintain inventory and respond to market fluctuations (both sudden drops and surges in demand). Businesses should prepare by exploring and testing their capital access options so they have what they need when they need it.  See SBA’s capital access resources.
    • Workforce Capacity – Incidents have just as much impact on your workers as they do your clientele. It’s critical to ensure they have the ability to fulfill their duties while protected.
    • Inventory and Supply Chain Shortfalls – While the possibility could be remote, it is a prudent preparedness measure to ensure you have either adequate supplies of inventory for a sustained period and/or diversify your distributor sources in the event one supplier cannot meet an order request.
    • Facility Remediation/Clean-up Costs – Depending on the incident, there may be a need to enhance the protection of customers and staff by increasing the frequency and intensity by which your business conducts cleaning of surfaces frequently touched by occupants and visitors. Check your maintenance contracts and supplies of cleaning materials to ensure they can meet increases in demand.
    • Insurance Coverage Issues – Many businesses have business interruption insurance; Now is the time to contact your insurance agent to review your policy to understand precisely what you are and are not covered for in the event of an extended incident.
    • Changing Market Demand – Depending on the incident, there may be access controls or movement restrictions established which can impede your customers from reaching your business. Additionally, there may be public concerns about public exposure to an incident and they may decide not to go to your business out of concern of exposing themselves to greater risk. SBA’s Resources Partners and District Offices have trained experts who can help you craft a plan specific to your situation to help navigate any rapid changes in demand.
    • Marketing – It’s critical to communicate openly with your customers about the status of your operations, what protective measures you’ve implemented, and how they (as customers) will be protected when they visit your business. Promotions may also help incentivize customers who may be reluctant to patronize your business.
    • Plan – As a business, bring your staff together and prepare a plan for what you will do if the incident worsens or improves. It’s also helpful to conduct a tabletop exercise to simulate potential scenarios and how your business management and staff might respond to the hypothetical scenario in the exercise. For examples of tabletop exercises, visit FEMA’s website at: https://www.fema.gov/emergency-planning-exercises

    SBA Products and Resources

    SBA is here to assist small businesses with accessing federal resources and navigating their own preparedness plans as described by the CDC’s Guidance for Businesses and Employers.

    SBA works with a number of local partners to counsel, mentor and train small businesses. The SBA has 68 District Offices, as well as support provided by its Resource Partners, such as SCORE offices, Women’s Business Centers, Small Business Development Centers and Veterans Business Outreach Centers. When faced with a business need, use the SBA’s Local Assistance Directory to locate the office nearest you.

    Access to Capital

    SBA provides a number of loan resources for small businesses to utilize when operating their business. For more information on loans or how to connect with a lender, visit: https://www.sba.gov/funding-programs/loans.

    • 7(a) program offers loan amounts up to $5,000,000 and is an all-inclusive loan program deployed by lending partners for eligible small businesses within the U.S. States and its territories. The uses of proceeds include: working capital; expansion/renovation; new construction; purchase of land or buildings; purchase of equipment, fixtures; lease-hold improvements; refinancing debt for compelling reasons; seasonal line of credit; inventory; or starting a business.
    • Express loan program provides loans up to $350,000 for no more than 7 years with an option to revolve. There is a turnaround time of 36 hours for approval or denial of a completed application. The uses of proceeds are the same as the standard 7(a) loan.
    • Community Advantage loan pilot program allows mission-based lenders to assist small businesses in underserved markets with a maximum loan size of $250,000. The uses of proceeds are the same as the standard 7(a) loan.
    • 504 loan program is designed to foster economic development and job creation and/or retention. The eligible use of proceeds is limited to the acquisition or eligible refinance of fixed assets.
    • Microloan program involves making loans through nonprofit lending organizations to underserved markets. Authorized use of loan proceeds includes working capital, supplies, machinery & equipment, and fixtures (does not include real estate). The maximum loan amount is $50,000 with the average loan size of $14,000.

    Exporting Assistance

    SBA provides export loans to help small businesses achieve sales through exports and can help these businesses respond to opportunities and challenges associated with trade, such as COVID-19. The loans are available to U.S. small businesses that export directly overseas, or those that export indirectly by selling to a customer that then exports their products.

    • Export Express loan program allows access to capital quickly for businesses that need financing up to $500,000. Businesses can apply for a line of credit or term note prior to finalizing an export sale or while pursuing opportunities overseas, such as identifying a new overseas customer should an export sale be lost due to COVID-19.
    • Export Working Capital program enables small businesses to fulfill export orders and finance international sales by providing revolving lines of credit or transaction-based financing of up to $5 million. Businesses could use a loan to obtain or retain overseas customers by offering attractive payment terms.
    • International Trade loan program helps small businesses engaged in international trade to retool or expand to better compete and react to changing business conditions. It can also help exporting firms to expand their sales to new markets or to re-shore operations back to the U.S.

    Government Contracting

    SBA is focused on assisting with the continuity of operations for small business contracting programs and small businesses with federal contracts. For more information on federal contracting, visit https://www.sba.gov/federal-contracting/contracting-guide

    More specifically:

    • 8(a) Business Development program serves to help provide a level playing field for small businesses owned by socially and economically disadvantaged people or entities, and the government limits competition for certain contracts to businesses that participate. The 8(a) program offer and acceptance process is available nationwide, and the SBA continues to work with federal agencies to ensure maximum practicable opportunity to small businesses. 8(a) program participants should stay in touch with their Business Opportunity Specialist (BOS).
    • HUBZone program offers eligibility assistance every Thursday from 2:00-3:00 p.m. ET at 1-202-765-1264; access code 63068189#.  Members of the HUBZone team answer questions to help firms navigate the certification process.  For specific questions regarding an application, please contact the HUBZone Help Desk at hubzone@sba.gov.
    • Women-owned Small Business firms who have questions, please visit www.sba.gov/wosbready or write to wosb@sba.gov.
       

    If a situation occurs that will prevent small businesses with government contracts from successfully performing their contract, they should reach out to their contracting officer and seek to obtain extensions before they receive cure notices or threats of termination. The SBA’s Procurement Center Representatives can assist affected small businesses to engage with their contracting officer. Use the Procurement Center Representative Directory to connect with the representative nearest you.

    Local Assistance

    SBA works with a number of local partners to counsel, mentor, and train small businesses. The SBA has 68 District Offices, as well as support provided by its Resource Partners, such as SCORE offices, Women’s Business Centers, Small Business Development Centers and Veterans Business Outreach Centers. When faced with a business need, use the SBA’s Local Assistance Directory to locate the office nearest you.

     

     

        

    Click here for Information about Disaster Loan Use

    President Trump has declared a nationwide emergency for COVID-19.  This declaration increases federal support to the U.S. Department of Health and Human Services in its role as the lead federal agency for the federal government’s response. 

     

       

    Click here for information about the Department of Revenue Services extending deadlines for filing and payments associated with certain state business tax returns. 

     

       

    Click here for Information about Unemployment Assistance

     

       

    Click here for the most up to date Information about COVID-19 aka Coronavirus

     

     

                                                 

    Medical and Non-Medical Volunteers Needed

    The current COVID-19 public health emergency is creating a labor crisis for health care facilities and nonprofits across the state that serve vulnerable people on the frontlines. Medical and non-medical volunteers are needed to help health care facilities and community providers continue to provide crucial services.

     

    Medical Volunteers

    Connecticut's hospitals, nursing homes and medical facilities are in need of medical volunteers. Governor Ned Lamont is urging anyone with experience in healthcare to register on the CTResponds! volunteer registry.

    CTResponds! is the State of Connecticut’s web-based medical volunteer management system. This system helps to maintain a registry of volunteers’ skills and credentials available within the state, and helps communities match available resources to an emergency event.

    Medical volunteers can register HERE.

     

    Non-Medical Volunteers

    Frontline nonprofits – particularly food banks/pantries, meal delivery services, and homeless shelters – are seeing a marked increase in demand for their services.

    CT Voluntary Organizations Active in Disaster (CT VOAD), United Way of Connecticut, and the Office of the Governor have created a Disaster Assistance and Response Technology (DART) volunteer database – “CT DART”. 

    This data base allows nonprofits to register their needs; volunteers to sign up; and matches to be made between the two to source new labor to support the frontline nonprofits through this crisis. 

    Non-Medical volunteers can register HERE.

     

    You should not volunteer if you are at risk or compromised

    If you are immunocompromised, over 60, are showing symptoms of COVID-19, or live with or care for someone in any of those categories, you should avoid being in public – including for volunteer efforts. Please stay safe, stay home.

    Learn more about Connecticut’s Volunteer Needs: https://portal.ct.gov/Coronavirus/Information-For/Volunteers 

     

    About 2-1-1 Connecticut

    2-1-1 Connecticut is a free health and human service information and referral service, with a continuously updated database of more than 4,000 agencies and 40,000 programs and services. Free, confidential assistance is available 24 hours a day, 7 days a week, every day of the year online at 211ct.org and over the phone by dialing 2-1-1. 2-1-1 Connecticut has organizational accreditations from the Alliance of Information and Referral Systems (AIRS), and the contact center is certified by the American Association of Suicidology for crisis intervention.