Business Recovery Resources for the Coronavirus
The City of Deltona’s Office of Economic Development understands how local business is being impacted by the COVID-19 Virus.
Efforts to prevent the spread of the Virus is likely impacting your business activity.
A good place to find available business resources, located here
The U.S. Department of the Treasury has put together a list of FAQ’s regarding COVID-19, businesses and emergency funding.
Click below for their list of Frequently Asked Questions
Applications for $3,000 Grants to qualifying Small Businesses, for the purposes of relaunching will be available on Volusia County’s website tomorrow, Thursday, May 14th at 9am
GRANTS ARE LIMITED AND ARE FIRST COME FIRST SERVED
We want you to succeed!
It is important to act quickly, so we are providing this information to assist you in your efforts:
Applications now available:
Please check the qualifications before applying.
We look forward to your continued success and are always here to provide valuable resources.
Volusia County Division of Economic Development
May 18, 2020
Online Version at FloridaBusiness.org
COVID-19 Business Resource Center: VolusiaBusinessResources.com
Have you subscribed to the Volusia County weekly Economic Development Newsletter? This is a valuable tool with all of the latest information, resources and news. Visit FloridaBusiness.org and sign up for free!
VOLUSIA COUNTY TO HOST DAILY BRIEFINGS
– Volusia County Government will host briefings four times a week at the Emergency Operations Center (EOC) to provide the public with updated COVID-19 information. The briefings began Monday, April 27, and take place at 2 p.m. every Monday, Wednesday, and Friday. The daily briefings will include updates from representatives of Volusia County Government as well as featured guests from local agencies. No EOC briefings are scheduled for Tuesdays because the County Council is receiving weekly briefings every Tuesday in meetings that are publicly accessible. The briefings at the EOC, 3825 Tiger Bay Road, Daytona Beach, are open to the media and will be streamed live on:
The Florida Department of Economic Opportunity
KEEPING FLORIDIANS FIRST
COVID-19 Resources for Employers and Individuals
At the Department of Economic Opportunity (DEO), providing state and federal resources to communities, businesses and Floridians is their top priority.
In coordination with state and federal partners, resources are available to assist employers and individuals impacted by the state’s efforts to mitigate the spread of COVID-19.
The Florida Small Business Emergency Bridge Loan stopped taking applications on Monday, April 13th but the (SBA) Economic Injury Disaster Loan (EIDL) Program is still available as well as the PPP (Paycheck Protection Program) and the Short-Time Compensation Program (which is a voluntary employer program)
Florida also has a “Microfinance Guarantee Program” and a “Rebuild Florida Loan Fund” so there are still some options to assist you in your efforts.
The Coronavirus Aid, Relief and Economic Security Act (CARES) has appropriated $5 billion in a Community Development Block Grant (CDBG) which funds nationwide. We are looking forward to HUD issuing more guidance on this and making the funds available.
The Black Business Loan Program (BBLP) offers alternative lending solutions to Florida-based black owned small businesses by providing short-term loans and technical assistance.
Follow the link below to learn more and to apply
information obtained from: covid19.floridajobs.org
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.
You are able to apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that was participating. Other regulated lenders may be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program. CLICK HERE
information obtained from: sba.gov
At this point, we are providing a summary of available recovery resources:
1. State Resource: The State of Florida utilizes its Business Damage Assessment Survey (BDAS) to determine the level of impact and need for federal and state disaster assistance. If your business has been impacted by the virus, it is imperative that you complete this important survey here
2. State Resource: The Florida Small Business Emergency Bridge Loan Program is currently available to small business owners located in all Florida counties statewide that experienced economic damage as a result of the COVID-19. These short-term, interest-free working capital loans are intended to “bridge the gap” between the time a major catastrophe hits and when a business has secured longer term recovery resources. Application were being accepted until Monday, April 13th. I fyou applied, you may check your status by following the link.
3. Federal Resource: The U.S. Small Business Administration (SBA) has activated its SBA Economic Injury Disaster Loan Program. This program provides working capital to small businesses who have suffered “substantial economic injury” as a result COVID-19. Substantial economic injury means a business has been unable to meet its obligations and to pay its ordinary and necessary operating expenses.
It is important that you fill out the Business Damage Assessment Survey (BDAS) outlined in 1 (above) to ensure this program gets implemented in Florida.
Follow this link for more information
Other Business Notes:
Reemployment Assistance: If employment has been negatively impacted because of efforts to stop the spread of COVID-19, Floridians may be eligible to receive Reemployment Assistance. More information and application may be found here.
Taxes: The Governor directed the Department of Revenue to provide flexibility on the deadlines of taxes due such as corporate income tax and sales tax to assist businesses that are adversely impacted by the Coronavirus mitigation measures. Please speak with your tax accountants or attorneys for further guidance.
For the latest status and health recommendations regarding the COVID-19 Virus:
What you need to know now about COVID-19 in Florida-
Steps for Assistance:
1. Visit floridadisaster.biz and complete the “Business Damage Assessment Survey” This helps trigger the SBA’s Economic Injury Loan Program and can provide millions to help eligible businesses bridge the gap created by this disaster.
2. Gov. DeSantis activated the Florida Small Business Emergency Loan Program and allocated up to $50 million. Details about eligibility, application, and support documentation can be accessed on this page: floridadisasterloan.org
3. The Governor directed the Dept. of Revenue to provide flexibility on the deadlines of taxes due such as corporate income tax and sales tax to assist businesses that are adversely impacted by the Coronavirus mitigation measures. Encourage businesses to speak with their tax accountants or attorneys for further guidance.
4. Federal disaster loans for working capital to small businesses through the SBA are not yet activated for Florida. The Governor is making the request and hope to have that resource available as well.