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Home My WebLink About04/04/20 - Updates COVID-19 St. Lucie County Business AssistanceStephanie Bush From:Jennifer DuBey <jdubey@youredc.com> Sent:Saturday, April 4, 2020 7:19 AM To:Jennifer DuBey Subject:New Updates COVID-19 St. Lucie County Business Assistance SECURITY WARNING: This email originated from outside the County systems. Please show caution when clicking links or opening attachments unless you recognize the sender and know the content is safe. Questions, call Customer Service at 772-462-2146. Good Morning EDC Partners As we head into the weekend, there has been a lot of activity this week at the federal, state and local levels. We have provided a summary below to help keep you up-to-date and provide you with information that may be of value to you at this time regarding: GOVERNORS ORDERS - ACCESS TO CAPITAL PROGRAMS - FFCRA: FAMILY MEDICAL AND PAID AND SICK LEAVE - FOOD AND FINANCIAL INSECURITY - TAX CREDITS GOVERNORS EXECUTIVE ORDERS  4/1/2020: Order 20-91 Essential Services and Activities (Includes Homeland Security CISA List and Miami Order List)  4/2/2020: Order 20-93 Reemployment Assistance Program (Unemployment Assistance Enhancements)  4/2/2020: Order 20-94 Mortgage Foreclosure and Eviction Relief (45 days) ACCESS TO CAPITAL PROGRAMS SMALL BUSINESS BRIDGE LOAN - Small Business Development Center (SBDC) 1. Interest Rate: 0% 2. Term: 12 months 3. Loan Amount: up to $50,000 (Special Circumstance: $100,000) 4. Application and Information Link: www.floridadisasterloan.org 5. Application Deadline: May 8th ECONOMIC INJURY DISASTER LOAN PROGRAM (EIDL) - Small Business Administration (SBA)  Interest Rate: 3.75% (2.75% non-profits)  Term: up to 30 years (determined by SBA)  Loan Amount: up to $2 million  Application: https://covid19relief.sba.gov/#/  Information Link: https://www.sba.gov/page/disaster-loan-applications 1 ECONOMIC INJURY DISASTER LOAN PROGRAM (EIDL) EMERGENCY $10,000 GRANT - Small Business Administration (SBA)  Amount: $10,000  Term: no repayment  Application: https://covid19relief.sba.gov/#/  Information Link : https://www.uschamber.com/sites/default/files/uscc_covid19_sb- economic-injury-disaster-loans.pdf PAYCHECK PROTECTION PROGRAM (PPP) - Small Business Administration (SBA) UPDATED INFORMATION AS PER FINAL SBA RULE 4/3/2020  Interest Rate: up to 1% (REVISED)  Term: up to 2 years (REVISED)  Loan Amount: up to $10 million  Details: 75% of loan must be used for payroll  Application: Participating SBA 7a lender  Information Link: https://www.sba.gov/funding-programs/loans/coronavirus-relief- options/paycheck-protection-program-ppp#section-header-0  SBA Final Rule: https://www.sba.gov/sites/default/files/2020-04/PPP--IFRN%20FINAL_0.pdf To hear the session recording for today’s Special Webinar: Coronavirus Aid Response and Economic Security (CARES) Act with subject matter experts Denny Hudson, Chairman/CEO – Seacoast Bank; Christopher Fogal, Partner – Carr Riggs & Ingram CPAs and Advisors; and Vince LoPresti, Senior Area Manager – U.S. Small Business Administration, please click the link to access: https://www.youtube.com/watch?v=Dc3nUFf3k4U&feature=youtu.be FAMILY LEAVE AND PAID AND SICK LEAVE ACT (FMLA/FMLS) - Families First Coronavirus Response Act (FFRCA  What Businesses Need to Know: http://www.flchamber.com/wp- content/uploads/2020/04/Updated_Families-First-Coronavirus-Response-Act-Passed-What- Employers-Need-to-Know_NMM_2.pdf  Department of Labor Employer Fact Sheets: https://www.dol.gov/agencies/whd/pandemic/ffcra-employer-paid-leave  Department of Labor FAQ: https://www.dol.gov/agencies/whd/pandemic/ffcra-questions  FFRCA Poster: https://www.dol.gov/sites/dolgov/files/WHD/posters/FFCRA_Poster_WH1422_Non- Federal.pdf FOOD AND FINANCIAL INSECURITY  211: https://211palmbeach.org/emergency-stlucie TAX CREDITS 2 EMPLOYEE RETENTION TAX CREDIT  50% tax credit for first $10,000 of compensation  Information Link: https://www.uschamber.com/sites/default/files/uscc_covid19_employee- retention-tax-credit.pdf NET OPERATING LOSSES; NET INTEREST DEDUCTION; CARRYFORWARDS & AMT; PAYROLL TAXES  CARES Act Bill Brief and Business Tax Programs: https://www.deanmead.com/2020/03/congress-passes-coronavirus-stimulus-bill/ If you have any questions or need any assistance for your business or employees, please do not hesitate to contact us at anytime. Please continue to view and share our COVID-19 Business Assistance Web Portal at https://youredc.com/grow_your_business/wr for updated information on programs and services to assist your business and employees. Jennifer DuBey, Business Manager Economic Development Council of St. Lucie County 500 NW California Blvd. ■ Bldg. F109 ■ Port St. Lucie, FL 34986 (Located at Indian River State College) O: 772.336.6256 ■ C: 772.812.0107 ■ jdubey@youredc.com www.youredc.com Please Note: Florida has very broad public records laws. Most written communications to or from County officials regarding County business are public records available to the public and media upon request. It is the policy of St. Lucie County that all County records shall be open for personal inspection, examination and / or copying. Your e-mail communications will be subject to public disclosure unless an exemption applies to the communication. 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