Miami Shores Village
April 08, 2020 02:28 PM
COVID-19 Business Resource and Assistance Information
Miami Shores Village is committed to safeguarding the health and wellness of our community, and our local economy as a whole. The situation sparked by COVID-19 (Coronavirus) is serious and quickly evolving, making the timely dissemination of actionable information essential. To understand how an individual or business may receive assistance you have to look at the different levels of government and the review assistance programs offered at each level. Federal, State, and Local governments are all working to assist residents and businesses through this very difficult time.
Federal Agencies and Programs:
Small Business Administration (SBA): The SBA administers three programs.
- Economic Injury Disaster Loan (EIDL).
- Economic Injury Disaster Loan (EIDL). 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. This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available following a successful application. This loan advance will not have to be repaid. https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources
- SBA Express Bridge Loan:
- SBA Express Lenders provide expedited SBA-guaranteed bridge loan financing on an emergency basis in amounts up to $25,000 for disaster-related purposes to small businesses located in communities affected by Presidentially-declared disasters. https://www.sba.gov/funding-programs/loans
- Payroll protection Program (PPP)
- The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program
State Agencies and Programs:
The Florida Department of Economic Opportunity (DEO): The DEO administers four programs.
- Florida small business emergency bridge loan program. *Due to a lapse in appropriations, no new State Bridge Loan applications are being accepted. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis.
- Re-Employment Assistance center.
- Reemployment Assistance benefits are available to Floridians who have been negatively impacted as a result of the mitigation efforts to stop the spread of COVID-19. Eligible individuals include those who have lost their job through no fault of their own, are quarantined by a medical professional or a government agency, laid off or sent home without pay for an extended period by their employer, or caring for an immediate family member who is diagnosed with COVID-19. http://www.floridajobs.org/Reemployment-Assistance-Service-Center/reemployment-assistance/claimants
- Short time compensation programs for employees.
- 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. http://floridajobs.org/office-directory/division-of-workforce-services/reemployment-assistance-programs/short-time-compensation-program-for-employers
- Small Business Loan Program:
- The Small Business Loan Program is available to qualified businesses that demonstrate adequate historical and/or proposed cash flow coverage and other credit underwriting metrics. http://floridajobs.org/business-growth-and-partnerships/for-businesses-and-entrepreneurs/business-resource/small-business-programs
Local Summaries: While limited in scope and scale there are some programs available through local agencies which may be able to help
Black Business Loan Program:
- The Black Business Loan Program provides loans, loan guarantees, or investments through Loan Administrators to black business enterprises that cannot otherwise obtain capital through conventional lending institutions but who could otherwise compete successfully in the private sector. http://floridajobs.org/business-growth-and-partnerships/for-businesses-and-entrepreneurs/business-resource/small-business-programs/minority-owned-business-assistance
Facebook small business grant program:
Small Business Grants Program
We know that your business may be experiencing disruptions resulting from the global outbreak of COVID-19. We’ve heard that a little financial support can go a long way, so we are offering $100M in cash grants and ad credits to help during this challenging time. https://www.facebook.com/business/boost/grants
The Miami Dade Beacon Council :
https://www.beaconcouncil.com/solutions/small-business/covid-19-updates-and-resources/
The situation sparked by COVID-19 (Coronavirus) is serious and quickly evolving, making the timely dissemination of actionable intelligence essential. We at The Beacon Council are committed to safeguarding the health and wellness of our community, and our local economy as a whole. We are gathering some of the latest, most relevant information and resources available for our business owners and workforce, updating this page on a regular basis.
Please email any Coronavirus-related questions directly to the team at BeaconHelp@BeaconCouncil.com.
CARES Act Paycheck Protection Program
CARES Act Paycheck Protection Program Application
Virtual Town Hall Series in Collaboration with Greater Miami Chamber of Commerce
Business Continuity and Recovery Virtual Town Hall Meeting
Damage Assessment
Managed by the Florida Department of Economic Opportunity (DEO), the Business Damage Assessment Survey evaluates businesses affected by COVID-19 and the impacts the virus is having on the local economy. The information gathered allows State Government to fully assess the comprehensive impact COVID-19 is having on Florida businesses and industries, then mobilize the appropriate resources to help alleviate those pressures.
Emergency Loans
The Florida Small Business Emergency Bridge Loan Program is currently offering short-term, interest-free working capital loans that are intended to “bridge the gap” and are available to small business owners located in all Florida counties statewide that experienced economic damage as a result of COVID-19.
REVIEW ELIGIBILITY & APPLY FOR BRIDGE LOAN
LEARN MORE ABOUT SUPPORT FROM FLORIDA’S SBDC NETWORK
U.S. Small Business Administration
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 TO REGISTER AND MORE INFORMATION
DOWNLOAD PAPER FORMS FOR EIDL APPLICATION HERE
DESCARGAR FORMULARIOS PARA LA APLICACIÓN EIDL AQUÍ
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.
EMPLOYER INFORMATION & APPLICATION: SHORT TERM COMPENSATION PROGRAM (FDEO)
EMPLOYEE INFORMATION: SHORT TERM COMPENSATION PROGRAM (FDEO)
Additional Resources
https://www.beaconcouncil.com/solutions/small-business/covid-19-updates-and-resources/
If you have any questions regarding any of the resources or information available, please contact the Planning & Zoning Director, Travis Kendall at 305-762-4864.