A Message from our CEO, Teri Barnes:
As we all face the challenges of the COVID-19 pandemic, Barnes & Co. is committed to supporting our clients. In this newsletter, we are sharing some important information and links to resources to help you, your family, and your business.
TIPS FOR WORKING FROM HOME
Working from home sounded great, right? Well, it certainly can be a challenge when the circumstances are less than ideal. We found some great tips for working remotely HERE.
HOW TO MAKE A MASK
The CDC now recommends wearing a cloth face covering when in public, particularly where social distancing may be difficult. But don’t feel that you need to go to Amazon to spend a fortune on face masks for you and your family. Check out THIS step-by-step guide from the CDC on making your own mask using items you may already have at home.
HOW YOU CAN HELP THOSE IN NEED
Many of us are looking for ways to be of assistance to others during this time of national crisis. Some of our favorite ways to give back are to donate to a local food bank, give blood through the Red Cross, foster a rescue animal (shelters are overwhelmed and we are at home!), or share your stash of paper products with a friend or neighbor. HERE is a great list of ideas for ways to help others!
BUSINESSES OFFERING SPECIAL DEALS TO HEALTHCARE WORKERS
Healthcare workers are on the front lines of this pandemic. If you have a friend or family member who works in healthcare, please share THIS link with them, which lists just some of the many deals that businesses around the country are offering to ease the strain of their tireless work.
SMALL BUSINESS FINANCIAL ASSISTANCE
The federal government is providing relief to some of those small businesses that have been affected by COVID-19, and we want to share with you links to several of these resources.
If you own a small business and have been affected by COVID-19, you may be eligible for a low-interest federal loan. Just over a week ago, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. The estimated $2 trillion package includes nearly $377 billion specifically designed to assist small businesses in the form of extremely favorable and forgivable loans.
Businesses with fewer than 500 employees are likely eligible for the Paycheck Protection Program (PPP), small business loans that are created to help small businesses that have been impacted by the pandemic maintain their workforce. Click HERE for more information and HERE to download the application.
The United States Small Business Administration (SBA) offers Economic Injury Disaster Loans (EIDLs) of up to $2 million in assistance to cover a temporary loss of revenue. The SBA has opened its disaster assistance application process to all states. You can find more information HERE or apply online now HERE.
Companies can apply for both the Paycheck Protection Loan and the EIDLs as long as the funds do not cover the same expenses.
PRIVATE, NON-PROFIT & STATE ASSISTANCE
In addition to the federal programs listed above, there are numerous state-specific and local assistance programs, as well as relief programs from private and non-profits organizations. HERE is a list of over 55 such organizations who are providing much-needed relief during this crisis.
One example of this is Facebook, which has announced that they will be offering grants to small businesses. Click HERE to visit their Business Resource Hub and learn more about these grants and find helpful recommendations for small business owners.
CALIFORNIA SMALL BUSINESSES
California small businesses can now defer payment of up to $50,000 in sales and use taxes for up to a year. The loans can cover eight weeks of operating expenses and if 75% of the funds go to payroll, the entire loan amount can be forgiven. Visit the Governor’s Office of Business and Economic Development’s COVID-19 website for links to other valuable resources HERE.
Small businesses may also be eligible for loans through California State entities. Visit the California Infrastructure and Economic Development Bank website to learn more HERE.