COVID-19 Business Resources - Hendry County EDC

Please visit: http://www.hendryfla.net/emergency_management.php for the most up-to-date information.

Contact our office with any specific questions you may have 863-675-6007 or email us at office@hendryedc.com.

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Access the Hendry County Back to Business Tool Kit and Poster here.

Take the Hendry County COVID-19 Damage Assessment here.

Business Damage Assessment Survey, Florida Disaster.biz

Governor Ron DeSantis has activated the Business Damage Assessment survey to assess the impact of COVID-19 on Florida’s local business operations. The survey, managed by 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.

Click here to take the survey.

The Small Business Emergency Bridge Loan

Deadline to Apply: May 8, 2020

The Florida Small Business Emergency Bridge Loan Program is currently available to small business owners located in all Florida counties statewide that experienced economic damage as a result of COVID-19.

Click here to learn more.

Click here to learn about the SBDC and find a location near you.

For more information on the program, visit www.floridadisasterloan.org. For questions regarding the Emergency Bridge Loan Program, contact the Florida Small Business Development Center Network at 866-737-7232 or email Disaster@FloridaSBDC.org. The phone line will be answered during regular business hours; all voice mails and emails will be responded to within 24 hours. The bridge loan program, managed by the Florida Department of Economic Opportunity (DEO), will provide short-term, interest-free loans to small businesses that experienced economic injury from COVID-19. The application period opens March 17, 2020 and runs through May 8, 2020.

U.S. Small Business Administration

Deadline to Apply: December 18, 2020

The U.S. Small Business Administration’s Economic Injury Disaster Loans (EIDL) offer up to $2 million in assistance for eligible small businesses. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue driven by COVID-19’s impact.

Disaster Loan Applications are now live for the State of Florida (Disaster #FL-00152).

Click here for Disaster Loan Assistance.

Click here to apply online.

Click here to download forms.

U.S. SMALL BUSINESS ADMINISTRATION FACT SHEET – ECONOMIC INJURY DISASTER LOANS FLORIDA

Declaration 16353
(Disaster FL-00152)
Incident: CORONAVIRUS (COVID-19)
Occurring: January 31, 2020 & continuing
All counties within the State of Florida; the contiguous Alabama counties of: Baldwin, Covington, Escambia, Geneva and Houston; and the contiguous Georgia counties of: Brooks, Camden, Charlton, Clinch, Decatur, Echols, Grady, Lowndes, Seminole, Thomas and Ware

Application Filing Deadline: December 18, 2020

Disaster Loan Assistance Available:
Economic Injury Disaster Loans (EIDLs) – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.

Credit Requirements:
• Credit History – Applicants must have a credit history acceptable to SBA.
• Repayment – Applicants must show the ability to repay the loan.
• Collateral – Collateral is required for all EIDL loans over $25,000. SBA takes real estate as collateral when it is available. SBA will not decline a loan for lack of collateral, but SBA will require the borrower to pledge collateral that is available.
Interest Rates:

The interest rate is determined by formulas set by law and is fixed for the life of the loan. The maximum interest rate for this program is 3.750 percent.

Loan Terms:
The law authorizes loan terms up to a maximum of 30 years. SBA will determine an appropriate installment payment based on the financial condition of each borrower, which in turn will determine the loan term.

Loan Amount Limit:
The law limits EIDLs to $2,000,000 for alleviating economic injury caused by the disaster. The actual amount of each loan is limited to the economic injury determined by SBA, less business interruption insurance and other recoveries up to the administrative lending limit. SBA also considers potential contributions that are available from the business and/or its owner(s) or affiliates. If a business is a major source of employment, SBA has the authority to waive the $2,000,000 statutory limit.

Loan Eligibility Restrictions:
Noncompliance – Applicants who have not complied with the terms of previous SBA loans may not be eligible. This includes borrowers who did not maintain required flood insurance and/or hazard insurance on previous SBA loans.

Note: Loan applicants should check with agencies / organizations administering any grant or other assistance program under this declaration to determine how an approval of SBA disaster loan might affect their eligibility.

Refinancing:
Economic injury disaster loans cannot be used to refinance long term debts.

Insurance Requirements:
To protect each borrower and the Agency, SBA may require you to obtain and maintain appropriate insurance. By law, borrowers whose damaged or collateral property is located in a special flood hazard area must purchase and maintain flood insurance. SBA requires that flood insurance coverage be the lesser of 1) the total of the disaster loan, 2) the insurable value of the property, or 3) the maximum insurance available.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance.

Individuals who are deaf or hard-of-hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, FortWorth, TX 76155.

Asistencia de Desastre de la SBA en Respuesta al Coronavirus
• La Agencia Federal de Pequeños Negocios (SBA, por sus siglas en inglés) les ofrece a ciertos estados y territorios designados préstamos federales de desastre de bajos intereses para usar como capital de trabajo a los pequeños negocios que sufren daños económicos sustanciales como resultado del Coronavirus (también llamado COVID-19). Tan pronto como se reciba una solicitud del gobernador de un estado o territorio afectado, la SBA expedirá bajo su propia autoridad, según lo provisto por el Acta de Apropiaciones Suplementales para Responder a y Prepararse contra el Coronavirus que el Presidente de los Estados Unidos acaba de firmar, una declaración de Préstamos de Desastre por Daños Económicos.
• Una declaración de asistencia bajo esta categoría de Préstamos de Desastre por Daños Económicos que emite la SBA les pone a disposición a los pequeños negocios y organizaciones privadas sin fines de lucro en ciertas áreas designadas de un estado o territorio para ayudar a aliviar a daños económicos causados por el Coronavirus (COVID-19).
• La Oficina de Asistencia de Desastre de la SBA coordinará con el gobernador del estado o territorio para presentar el pedido de asistencia para Préstamos de Desastre por Daños Económicos.
• Tan pronto como se haga una declaración para las áreas designadas dentro de un estado, la información sobre el proceso de cómo presentar una solicitud para asistencia para Préstamos de Desastre por Daños Económicos se hará disponible a todas las comunidades afectadas tanto como será puesta al día en nuestra página en la red: SBA.gov/disaster.
• Los Préstamos de Desastre por Daños Económicos de la SBA ofrecen a cada pequeño negocio hasta $2 millones en asistencia, y les pueden proporcionar apoyo económico vital a los pequeños negocios para superar la pérdida temporal de ingresos que están experimentando.
• Se puede usar estos préstamos para pagar deudas fijas, nómina de sueldos, cuentas por pagar, y otras facturas a los cuales no se puede pagar por causa del impacto del desastre. La tasa de interés es 3.75% para pequeños negocios. La tasa de interés para organizaciones sin fines de lucro es 2.75%.
• La SBA ofrece préstamos con reembolso a largo plazo para mantener pagos asequibles, a un máximo de 30 años. Se determinan los términos caso por caso, basado en la capabilidad de cada prestatario a repagar.
• Los Préstamos de Desastre por Daños Económicos de la SBA son sólo una parte del enfoque expandido de la respuesta coordinada del gobierno federal, y la SBA está fuertemente comprometida a proveer la respuesta más eficaz posible y concentrada en los clientes.
• Para asistencia con la solicitud, favor de llamar al centro de servicio para asistencia a los clientes a: 1-800-659-2955 (para los con problemas de audición: 1-800-877-8339), o mandar un mensaje por correo electrónico a: disastercustomerservice@sba.gov. Se habla español.
• Visite SBA.gov/disaster para más información.

Pay Check Protection Program

Passed by Congress, and signed by the President, the Coronavirus Aid, Relief, and Economic Security (CARES) Act established the Paycheck Protection Program intended to provide eligible small businesses with eight weeks of cash-flow assistance through 100 percent federally guaranteed loan from the U.S. Small Business Administration. To apply for forgiveness, small businesses must submit documentation regarding the eligible uses of loan funds (payroll costs, mortgage interest, utilities, etc.), a certification that such documents are true and correct, as well the amount to be forgiven, and any other documentation deemed necessary by the U.S. Small Business Administration. The amount any small business is eligible to borrow and be forgiven is 250 percent of their average monthly payroll expenses, up to a total of $10 million.

For more information, click here.

Short Term Compensation Program (FDEO)

The Short Time Compensation Program is a voluntary employer program designed to help employers maintain their staff by reducing the weekly working hours during temporary slowdowns instead of temporarily laying off employees. If an employer establishes a Short Time Compensation Plan, and an employee meets the qualifications to file a re-employment assistance claim in the state of Florida, the employee will receive a partial re-employment check to supplement their reduced paycheck.

If your employer establishes a Short-Time Compensation Plan and you meet the qualifications to file a reemployment assistance claim in the state of Florida, you will receive a partial reemployment check to supplement your reduced paycheck.

Click here to learn more about the program.

Click here if you are an employee and would like to learn more.