We know the current crisis has caused disruptions for many business owners and workers as well as to our daily lives and habits. Before we discuss business, how are you? How are your friends and family? We hope you are well and staying connected. Being physically isolated does not mean you need to be lonely. We would encourage you to embrace technology and stay connected!

Our team is actively gathering information on assistance programs as quickly as it is released. Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide funding for a number of different resources. While many details are still being finalized, there are some benefits currently available.

Top 3 options currently available for assistance

If you are an employee or a subcontractor who has lost your job, the state offers jobless benefits. Of special note is this coverage now includes “gig” workers per the recently passed CARES Act. In Florida, you can apply online here. If you are in a different state and need help finding the appropriate resource, please don’t hesitate to reach out.

If you are a business owner facing urgent challenges, there are two resources you can apply for now.

• Small business owners and non-profits have the opportunity to get up to a $10,000 Advance on an Economic Injury Disaster Loan (EIDL) from the US Small Business Administration. If you wish to apply, please visit www.SBA.gov/Disaster as soon as possible to fill out a new, streamlined application. In order to qualify for the Advance, you need to submit this new application even if you previously submitted an EIDL application. (More info can be found in the CARES Act summary below. Of course, if you would like help with your application, our accounting team is available.)

• Businesses in Florida may apply for funding to bridge the gap between other sources of funding if impacted by COVID-19. The Emergency Bridge Loan Program has been activated by the Governor and can be accessed via the Florida Dept. of Economic Opportunity.

What’s next?

Our team will continue working virtually to ensure we are available to support you and share updates as they become available. We have full access to our secure files and are available to meet with you via telephone or video-conference.

If you have any questions or there is anything that we can do to support you, please do not hesitate to contact us.