COVID19 Resources

Resources for Covid19 Emergency:

Local Non-Profits:

Paycheck Protection Plan - (funding for original allocation has run out, but legislation is pending on adding additional funding to the program - this will be a forgivable loan if used to keep employees on the payroll as well as a percentage of eligible expenses. The amount to be loaned/granted was 2.5 times the average monthly payroll of full time employees for 2019.

  • 500 or fewer employees
  • Loan granted through participating lenders
  • Have to prove impact on business; show loan/grant is NECESSARY
  • 1099 employees not eligible
  • Loan 100% forgivable for payroll
  • Have to request forgiveness from lender within 6 months

Emergency Injury Disaster Loan (EIDL) - this is a loan program through the Small Business Administration. The funding is supposed to be replenished through Phase 4 of the stimulus bills being enacted. Remember - NO DOUBLE DIPPING. If you receive a loan under the PPP program, you cannot request a loan under EIDL for the same thing.

  • Apply directly from SBA site (
  • $10,000 advanced payment that does not have to be repaid even if loan is turned down (maximum loan is $200,000)
  • Application deadline: December 21, 2020

Main Street Loans - mid-size Business Loan - between 500-10,000 employees at 2% interest with payments deferred for 6 months. The terms of these loans are four (4) years.

KIVA - a crowd sourcing platform that is making 0% loans to businesses.

**As always - be aware that scams abound during this time and only use reputable lenders/organizations. The resources given previously can be contacted to vet any organizations.  Also, the government will require documentation that funds were spend in the manner they were intended. It is recommended that businesses open new checking accounts that will be used exclusively for these payroll and businesses expenses allowable under the CARES Act.

Other grants through the portal are available as well.  Keep checking for emerging programs.

Other Federal Programs for Distressed Businesses:

Payroll Tax Deferral - this is the business’s portion of FICA (will have to eventually pay back, but will be interest free)

Refundable Employee Retention Credit - provides tax credit equal to 50% of qualified wages using IRS Form 941. Cannot use if you get a forgivable loan through the Paycheck Protection Program.

Expanded Paid Leave (Families First Paid Leave) - This provides two weeks of pay at 100% and an additional 10 weeks if you meet certain conditions. Who is covered? All public sector employees and all private with 500 or fewer employees. One must have been employed a minimum of 30 days to qualify and have one of the following situations:

  • Anyone who tests positive for COVID19
  • Have a health risk that requires them to self-quarantine
  • Has any symptoms of COVID19
  • Employee caring for someone with any of the above conditions
  • School or daycare has been closed and must stay home to care for children (must be a son or daughter)
  • There is a catch-all provision that the Health and Human Services can define more conditions as necessary

The expanded family leave will pay for two weeks (80 hours) initially at regular salary with a cap of $511 per day. If approved for expanded 10 weeks, then 2/3 of regular pay with a cap of $200 per day. Employees should inquire through human resources at their place of employment. Businesses will get a tax credit for the leave. Forms are available on the IRS website.

Expanded Unemployment:  Pandemic Emergency Unemployment Compensation (PEUC)

  • $600 weekly plus whatever Alabama will pay in unemployment benefits up to $275 per week). People with reduced hours may qualify and IF you qualify for even $1 in state unemployment, the $600 per week federal unemployment will kick in.
  • Alabama provides for 14 weeks of unemployment, PEUC will provide for 13 weeks. This is only good currently until July 31, 2020
  • Pandemic Unemployment Assistance (PUA) - to disburse benefits to workers who would normally not be eligible for unemployment assistance, such as gig workers or freelancers. 1099 employees should inquire.
  • For more information, go to

**Remember to keep good records of everything you spend during this time.  Documentation will be very important to achieve loan forgiveness and tax credits.  Again, it has been recommended that creating bank accounts solely to deal with federal funding during this time is advisable to provide a easy paper trail for businesses to follow.

I would like to thank Gener8tor at who organized a 5 day webinar to explain the CARES Act,  Bronze Valley who was a sponsor of these webinars and Kimberly Jackson the Government and Community Relations representative for Alabama Power who made the Chamber aware of this program.

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