Resources for Businesses Impacted by COVID19

As we each work through these unprecedented and uncertain times - information is our most powerful resource! Business owners throughout the country are seeing disruptions to their normal ways of operating. It is a challenging time for all of us, and these assistance programs fro the government can help you to keep your doors open, keep your employees protected, and keep your business running.

In the most recent stimulus bill passed by Congress; The Coronavirus Aid, Relief, and Economic Security (CARES) Act, there are three programs that specifically target business owners. Please also be aware that to apply for these programs you will need various documents ready - find out how to prepare to apply here through the international Sign Association website. 

SBA Economic Injury Disaster Loan Program

This program is for businesses with fewer than 500 employees, sole proprietors, independent contractors, and most private nonprofits - there is a full list of eligible entities on this program description from the National Association of Manufacturers. 

• This program can disperse funds to your business with deferred payments for one year
• Up to a 30 year term is available for your loan
• Up to $200,000 can be approved without a personal guarantee
• Borrowers across the country can apply for EIDL loans now
• Apply online at https://covid19relief.sba.gov/#/

SBA Paycheck Protection Program

This program allows borrowers to receive loans of up to 2.5x their average monthly payroll, capped at $10 million per loan

• Loans can be forgiven if they are used for payroll and certain overhead costs during the 8 weeks following origination of the loan. To ensure full loan forgiveness, borrowers must:
• Maintain employee headcount during the crisis;
• Not cut employee pay by more than 25%; and
• Use at least 75% of their loan funds on payroll costs.
• Applications are now available for small businesses and sole proprietorships
• Independent contractors and self-employed individuals can apply beginning April 10
• Borrowers are encouraged to apply early due to the funding cap one the program
• More information available here

Employee Retention Tax Credit

This program applies to an “eligible company” that has experienced a “significant decline in gross receipts” which is defined as a decline of 50% or more in quarterly receipts compared to the prior year quarter 

• This tax credit applies to 50% of the first $10,000 of wages (including health benefits)
• Not available to employers receiving loans under the Paycheck Protection Program
• Credit is based on wages incurred or paid from March 13, 2020 through Dec 31, 2020
• More information on the IRS Website 

We Are In This Together

It is an uncertain time. People in every industry are navigating through a lot of ambiguity and concern. A lot of individuals are in isolation - but please remember; we are all in this together!

We are continuing to provide our regular event promotion and branding service, and also sourcing the display products our customers need. Many industries now have different requirements. Are you looking to provide to medical industries, or perhaps add extra precautionary hand sanitizers at an event? Perhaps you need to share important information indoors or outdoors- and need to keep it updated easily? Are you looking for a product and having trouble finding it?

We have a vast network of manufacturers - if you are in need of specific items - even products that don’t typically relate to branding or event promotion, please reach out to us. If we can use our resources to help our customers and members of our communities - we want to do our part!

We hope that you find these resources useful. We wish you and your team good health and productivity in the days ahead!