On March 27th, President Trump signed into law the $2 trillion dollar Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), providing much anticipated economic relief to many businesses, States and municipalities, and individuals affected by COVID-19. While the scope of the CARES Act is wide-ranging, for your information I have attached a high-level overview prepared by the U.S. Senate Committee on Small Business & Entrepreneurship. Additional details will be provided as the Small Business Administration (SBA) drafts implementing regulations over the coming days.
 

For Assistance Contact The Indiana County Center For Economic Operations
724-465-2662

BUSINESS RESOURCES FOR COVID-19


5 Resources to Help the Pittsburgh Region Respond to COVID-19


Employee Retention Tax Credit (ERTC) – The CARES Act that Congress passed and was signed by the President on March 27, 2020 created an employee retention tax credit for employers who are closed, partially closed, or experiencing significant revenue losses as a result of COVID-19.
ERTC Guide from the U.S. Chamber of Commerce


SBA Paycheck Protection Program (PPP) – Included in the CARES Act, PPP provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.  ON 4/3/2020, THE SBA ANNOUNCED THE INTEREST RATE FOR PPP LOANS IS NOW 1.0%.

PPP Application Form
PPP - Rules For Borrowers & Lenders


CARES Act Small Business Emergency Loan Guide & Checklist from the U.S. Chamber of Commerce

Starting April 3, 2020, small businesses and sole proprietorships can apply
Starting April 10, 2020, independent contractors and self-employed individuals can apply
BORROWERS MUST APPLY FOR THE PAYCHECK PROTECTION PROGRAM AT A BANK OR CREDIT UNION – CONTACT YOUR BANK ASAP!!  THIS LOAN/GRANT IS FIRST-COME, FIRST-SERVED!!


SBA Economic Injury Disaster Loan (EIDL) Assistance – Federal disaster loans for small businesses
3 Step PDF on Applying for SBA Disaster Loan

PA Dept. of Community & Economic Development – Business Resources specific to COVID-19.
COVID-19 Working Capital Access Loan Program
THIS PROGRAM IS CURRENTLY CLOSED AND NOT ACCEPTING APPLICATIONS

PA Office of Unemployment – Information specific to employees affected by COVID-19
Indiana Regional Medical Center – Updates from our community hospital specific to COVID-19

PA CAREERLINK FILING INFORMATION

How To File For Unemployment Compensation

SBA Small Business Resource Guide


Center for Community Growth, Indiana PA

PPP GUIDANCE UPDATE  (April 3, 2020)

CARES ACT CASE STUDY / BYRON G. STAUFFER, JR.



Beware COVID-19 Phishing Scheme

UPDATED 4:00pm, April 1, 2020 - Industry Operation Guidance

COVID-19 Resources for Businesses, Communities, and Local Governments

 


Indiana County Center for Economic Operations | https://indianacountyceo.com/ | 724-465-2662

Indiana County Chamber of Commerce | https://www.indianacountychamber.us/ | 724-465-2511

Indiana County Tourist Bureau | http://visitindianacountypa.org/ | 724-463-7505

Indiana University of Pennsylvania SBDC | https://www.iup.edu/business/sbdc/ | 724-357-5729

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