We are working hard to give you access to the resources being made available to local businesses as soon as possible. Below is a listing of resources that are active and pending. Active resources are funded and have an accessible means of applying for assistance. Pending resources are ones being discussed actively but have not yet been approved or have no means for applying for the assistance. We will be updating this list actively.
Paycheck Protection Program (PPP) Loans:: Provides cash-flow through forgivable federal loans for employers who maintain their payroll despite closures or disruptions. Approved lenders may begin processing loan applications as soon as April 3, 2020.
SBA Economic Injury Disaster Loans:: Available to businesses and nonprofits, the SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
SBA Economic Injury Disaster Advance:: Applicants for SBA’s economic injury disaster loan program can apply for a loan advance of up to $10,000. To access the advance, you must apply for an SBA Economic Injury Disaster Loan (EIDL). Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.
SBA Small Business Debt Relief Program:: Provides relief to small businesses with non-disaster SBA loans. SBA covers principal and interest on new 7(a) loans issued prior to September 27, 2020 and current 7(a) loans for a period of six months. To access this program, contact your SBA lender for more information.
IRS Employee Retention Credit:: The Employee Retention Credit provides a refundable payroll tax credit for 50 percent of wages paid by eligible employers. This resource is not available to employers receiving assistance through the Paycheck Protection Program.
Ameren:: late fee and disconnection suspension, and other assistance.
Families First Coronavirus Response Act (H.R. 6201):: This action contained significant changes and expansions to paid sick leave. Williams-Keepers provided a summary today of what this will mean to your business and how you will qualify for the tax credits.
Missouri Shared Work Program:: The State of Missouri is encouraging employers to consider utilizing this program to avoid large layoffs. It allows a company to spread the downturn over several workers and utilize partial unemployment benefits instead of laying off employees.
Federal Tax Deadline Extension:: IRS extension of personal and business tax filing and payments from April 15 to July 15 for 2019 taxes owed up to 1 million dollars. Automatically available now.
SBA Disaster Assistance:: Missouri disaster relief declaration was approved and processed by SBA. This means small businesses and nonprofits statewide can now apply for SBA’s Disaster Relief Loans. These loans are issued by SBA directly and not through a bank as other SBA loans are done. Those interested in applying will do so on https://disasterloan.sba.gov/ela. If you need assistance with your application, please reach out to the SBA Disaster Assistance Center at 1-800-659-2955 or email@example.com.
Employer’s Obligations and Fed Tax credits:: Learn legal requirements that are unique to the Covid-19 crisis regarding what you can and cannot do legally with layoffs, medical leave, FMLA, and termination. Plus details about federal tax credits.
Yelp advertising credits for restaurants:: Help for restaurants to reach local patrons with Yelp advertising.
Free remote workers software:: Help from Microsoft, Google, LogMeIn, and Zoom, and Cisco Webex.
CDC SITE FOR BUSINESS
Resources for Businesses and Employers
Interim Guidance for Businesses and Employers
Disinfecting Your Facility if Someone is Sick
MISSOURI DEPARTMENT OF ECONOMIC DEVELOPMENT
In response to COVID-19, the Department of Economic Development is working with local economic developers to reach out and connect major employers across the state with vital resources that will help mitigate the economic effects of the virus. Questions are designed to ensure that we have a clear picture of the impacts of COVID-19 on the Missouri economy. The answers will help us identify immediate / long-term supportive services, financial resources currently available, and any future programs that should be considered.
Shared Work Program: The Shared Work Unemployment Compensation Program is an alternative to layoffs for employers faced with a reduction in available work. It allows an employer to divide the available work among a specified group of affected employees instead of a layoff. These employees receive a portion of their unemployment benefits while working reduced hours. To participate, an employer must complete an application for the affected unit within the company, and submit it to the Division of Employment Security (DES) for approval. https://labor.mo.gov/shared-work
Mass Claims Filing: The Electronic Mass Claims Filing System is designed to assist employers and their employees during a temporary mass layoff. Employee information provided by the employer, allows the Division of Employment Security (DES) to file an initial or renewed unemployment claim on behalf of employees quickly and efficiently. Information is available here https://molabor.uservoice.com/knowledgebase/articles/282990-what-is-a-mass-claim
Filing for Unemployment: Employees should apply with the state in which they are employed vs. state of residence. To learn more about resources, including filing for unemployment insurance benefits, use https://labor.mo.gov/
#BuyMO – Questionnaire and resources to help small business. https://mochamber.com/buymo/
MISSOURI MAIN STREET
4-ways to connect – Online Resource Outlet; Mornings on Main – webinar each Wednesday at 8:30 am; We care calls – Tuesdays; Downtown Chat FB Group https://www.momainstreet.org/COVID19-RESOURCES/