Small Business Resources Economic Injury Disaster Loan Program Find more information on the SBA’s Economic Injury Disaster Loans at: SBA.gov/Disaster
The SBA will work directly with state Governors to provide targeted, low-interest loans to small businesses and non-profits that have been severely impacted by the Coronavirus (COVID-19). 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.
UGA Small Business Development Centers across the state are open and available to assist small businesses impacted by current circumstances. Virtual consulting and online resources are available, please contact your the local Albany office for more information.
Rob Martin 2419 Westgate Drive Albany, GA 31701 Phone: (229) 420-1144 Fax: (229) 430-3933
New Laws & Regulations
IRS TAX Relief https://www.irs.gov/coronavirus The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus.
HR6201: Families First Coronavirus Response Act Summary The bill proposes many changes to increase public health measures as well as provisions that require most U.S. private employers to provide paid leave to employees under certain circumstances. While employers are responsible for funding the paid leave should it become law, employers would be able to take tax credits for the paid leave provided to employees under the FFCRA.
Emergency Paid Sick Leave Act Coverage and uses The Emergency Paid Sick Leave Act (PSLA) provisions of the FFCRA apply to private employers with fewer than 500 employees and public employers with at least one employee. Employers covered by the law would be required to provide employees with two weeks of paid sick leave, paid at the employee’s “regular rate,” for any of the following reasons:Additionally, if passed, the pay entitlement of an employee taking paid sick leave to care for a family member or to care for a child whose school has closed, would be reduced to two-thirds of their regular rate of pay. Most employees would be eligible for leave regardless of their tenure with the organization or full- or part-time status. The bill, as it stands, would ensure employees who work under a multi-employer collective agreement and whose employers pay into a multi-employer plan are similarly provided with leave.
Existing paid leave policies Employers may not require employees to exhaust their current sick leave before using leave under the current bill. Furthermore, if the PSLA is enacted as written, employers cannot change their existing paid leave policies, like vacation or paid time off (PTO). The paid leave provided under the PSLA would be provided in addition to the paid leave provided by employers as of the day before enactment of the bill.
Effective date, carryover and expiration The PSLA will take effect no later than 15 days after the date of the bill’s enactment and paid sick leave would not carry over from year-to-year. PSLA entitlements would expire on Dec. 31, 2020.
Emergency Family and Medical Leave Expansion Act Coverage and uses The Emergency Family and Medical Leave Expansion Act (EFMLA) provisions of the bill would apply to private employers with fewer than 500 employees. There is a provision that may allow the Secretary of Labor to exempt some businesses with fewer than 50 employees from the requirements. Under the EFMLA, employees who have worked for the employer for at least 30 days will be entitled to take up to 12 weeks of job-protected leave under the Family and Medical Leave Act (FMLA) for any of the following reasons:Under the EFMLA, the Secretary of Labor may exclude certain health care providers and emergency responders from the employees who are eligible for leave. Additionally, the Secretary of Labor may exempt small businesses with fewer than 50 employees if the EFMLA requirements will jeopardize the business. Employee protections As with traditional FMLA leave, this leave is job-protected, meaning an employer must offer the employee the same or equivalent position upon their return to work. The bill contemplates an exception to this requirement for employers with fewer than 25 employees if the employee’s position does not exist after FMLA leave due to an economic downturn or other operating conditions that affect employment caused by a public health emergency during the period of leave. Certain conditions, including reasonable attempts to return the employee to an equivalent position, and required efforts to contact a displaced employee for up to a year after they are displaced, are required.
Effective date and expiration The EFMLA will take effect no later than 15 days after the date of the bill’s enactment, and will remain in place for the one-year period following enactment.
Tax credits for paid leave The bill provides tax credits for the employer’s portion of payroll taxes for wages paid to employees taking either paid sick leave or FMLA pursuant to the FFCRA. The sick leave credit for each employee would be for wages as much as $511 per day while the employee is receiving paid sick leave to care for themselves, or $200 per day if the sick leave is to care for a family member or child if the child’s school is closed. The amount of tax credit for qualified family leave wages for each employee is $200 per day or $10,000 in aggregate.
Self-isolation due to coronavirus diagnosis
Medical diagnosis or care if the employee is experiencing coronavirus symptoms
Compliance with a recommendation or order by a public official with jurisdiction or health care provider on the basis that the physical presence of the employee on the job would jeopardize the health of others due to either:
Employee’s exposure to coronavirus
Employee’s exhibition of coronavirus symptoms
Caring for or assisting a family member who is either:
Self-isolating due to coronavirus diagnosis
Experiencing coronavirus symptoms and needs medical diagnosis or care
Caring for his or her child because the child’s school or place of care has been closed, or the child’s care provider is unavailable due to coronavirus
To adhere to a requirement or recommendation by a health care provider or a public health official having jurisdiction to quarantine due to exposure to or symptoms of coronavirus
To care for an at-risk family member who is adhering to a requirement or recommendation by a health care provider or a public health official to quarantine due to exposure to or symptoms of coronavirus
To care for a child of the employee if the child’s school or place of care has been closed, or the childcare provider is unavailable, due to coronavirus
Under the bill, the first two weeks of such FMLA may be unpaid. An employee may choose to substitute accrued vacation leave, personal leave, or other medical or sick leave during this period, but an employer may not require an employee to do so. After the two weeks of unpaid leave, employers must provide up to 10 weeks of paid FMLA leave at a rate of no less than two-thirds of the employee’s regular rate of pay.
(I have not tried these services personally and cannot endorse them, however I thought it would be good to offer some resources.)
ACCOUNTING QUICKBOOKS ONLINE – $12-75 Services Provided: Information Storage/Sharing | Project Management | Security/Encryption GUSTO – $6-12/PER USER Services Provided: Information Storage/Sharing | Project Management | Security/Encryption
ALL-INCLUSIVE GOOGLE SUITE/HANGOUTS – $6-25/PER USER* Services Provided: Video Conferencing | Audio/Phone | Instant Messaging | Information Storage/Sharing | Project Management | Security/Encryption *In response to COVID-19 through July 1: free access to our advanced Hangouts Meet video-conferencing capabilities to all G Suite and G Suite for Education customers globally including larger meetings, for up to 250 participants per call, live streaming for up to 100,000 viewers within a domain, and the ability to record meetings and save them to Google Drive
OFFICE 365/TEAMS – $0-12.50/PER USER* Services Provided: Video Conferencing | Instant Messaging | Information Storage/Sharing | Project Management | Security/Encryption *In response to COVID-19: Beginning March 10, Microsoft is rolling out updates to the free version of Teams that will lift restrictions on user limits.
COMMUNICATION ZOOM – $0-19.99* Services Provided: Video Conferencing | Web Conferencing/Webinar | Security/Encryption In response to COVID-19: free for educators to move toward virtual learning
SLACK – $0-12.50 Services Provided: Video Conferencing | Instant Messaging | Information Storage/Sharing | Security/Encryption
LOOM – $0-5/PER USER* Services Provided: Video Conferencing | Web Conferencing/Webinar |Instant Messaging *In response to COVID-19 through July 1: free for educators, recording limit removed on the free plan, free trial extended to 30 days, Loom Pro price adjusted to $5/month
RING CENTRAL – $24.99-49.99 PER USER* Services Provided: Video Conferencing | Web Conferencing/Webinar | Audio/Phone | Instant Messaging *In response to COVID-19: Three months free RingCentral Office for K12 educators, health providers and non-profits
GOTOMEETING – $12-16/PER USER* Services Provided: Video Conferencing | Web Conferencing/Webinar | Audio/Phone | Instant Messaging *In response to COVID-19: some organizations may be eligible for access to free emergency remote work toolkit. Can register here.
CRM LIVE AGENT – $0-39/PER USER Services Provided: Project Management
INFORMATION SERVICES DROPBOX BUSINESS – $12.50-20/PER USER* Services Provided: Information Storage/Sharing | Security/Encryption *In response to COVID-19: Free Dropbox Business subscriptions for a three-month period to nonprofits and NGOs that are focused on fighting COVID-19
GENIUS SCAN – $0 Services Provided: Information Storage/Sharing Phone app for scanning/sending documents
TINY SCANNER – $0 Services Provided: Information Storage/Sharing Phone app for scanning/sending documents
PROJECT MANAGEMENT TRELLO – $0-20.83/PER USER Services Provided: Information Storage/Sharing | Project Management | Security/Encryption
This website uses marketing and tracking technologies. Opting out of this will opt you out of all cookies, except for those needed to run the website. Note that some products may not work as well without tracking cookies.