Unemployment Resources for Employees
For your employees with difficulties getting through to TWC, here are some phone numbers and e-mail addresses you can share that may help:
The Paycheck Protection Program (“PPP”) is the crown jewel of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The CARES Act allocates $349 billion to the PPP loan initiative in an effort to stabilize small businesses during the COVID-19 outbreak and to allow them to retain their workforces while weathering the Coronavirus storm. But while $349 billion is a staggering number, it is unlikely to be enough to satisfy the demand for capital. The appropriated funds will go fast, and it is a first-come, first-served program. Indeed, reports are already indicating that Treasury Secretary Mnuchin is seeking an additional $250 billion for the PPP loan program.
Applications for PPP loans were available for submission on April 3rd. Processing began in earnest for small businesses and sole proprietorships this week. The U.S. Small Business Administration (the “SBA”) is opening up applications for independent contractors and self-employed individuals starting April 10th. The PPP gold rush is on and there is plenty of confusion and chaos to go with it. With many PPP borrowers having received their loan proceeds, or receiving them soon, what should borrowers be doing after receiving their loan? Here are five things that need to be on that list according to Forbes,
Friday, April 3 was the first day small businesses and sole proprietors could apply for Paycheck Protection Program (PPP) loans. That day, Inc. editor-at-large Kimberly Weisul spoke with U.S. Chamber of Commerce executive vice president and chief policy officer Neil Bradley as part of the National Small Business Town Hall webinar series. Here are some of the most popular questions Inc. readers submitted during the town hall, along with answers from Bradley and other experts.
Inc. and the Chamber will hold its third town hall in the series Friday, April 10 at 12 p.m. Eastern. Registration is now open.
1. Which lenders are accepting applications for PPP loans?
The loans are being made available using a tiered rollout system, with traditional Small Business Administration lenders being the first institutions that can accept applications. Other financial institutions--including credit unions, Farm Credit System institutions, and Community Development Financial Institutions (CDFIs)--are now in the process of being added and will begin accepting applications in the coming days--if they haven't already.
With the foodservice sector hit hard by the coronavirus pandemic, Texas grocer H-E-B is helping out local restaurants by selling their meals in its stores.
Under a pilot program, H-E-B is carrying ready-made meals from five restaurants at 29 supermarkets in San Antonio, Houston and Austin. All proceeds from the sales of the chef-prepared meals will go directly to the restaurants, the San Antonio-based grocery chain said.
“We are a family of foodies, and we have a deep relationship with lots of restaurants and chefs. So this is something we wanted to do to help in these difficult times,” Dya Campos, director of government and public affairs at H-E-B, said in a statement.
Let me first say that human beings can be quarantined, but the human spirit cannot be contained. I am in awe by the amount of giving and acts of kindness taking place around the world right now. Strangers helping strangers… neighbors helping neighbors... it’s truly inspiring. I want to help too. I have decided to donate $5 million directly to female entrepreneurs to help their businesses, families and employees. This donation will immediately provide 1,000 female business owners here in the United States with $5,000 in funding each. My hope is that this gift will help alleviate some of the pressures caused by this horrible pandemic.
20 years ago, I started Spanx with $5,000 in savings and I see this as a time to pay it forward. Small business is the backbone of our culture. I know what it’s like to be a small business owner, and I want to provide some relief to these entrepreneurs during this time.
We have teamed up with GlobalGiving to manage the fund and application process. The applications to receive these donations will open April 6th and will be available for the next five months. All you have to do is visit GlobalGiving’s website at www.globalgiving.org/redbackpackfund and complete an application for The Red Backpack Fund.
National Small Business Town Hall for Small Business Owners (Inc. and the U.S. Chamber of Commerce) Webinar - Urgent Updates: Answers to Crucial New Questions Around the Stimulus Bill (click here)
Find out answers to:
The speakers, Tom Sullivan, U.S. Chamber of Commerce, Vice President Small Business Policy, and C. E. "Tee" Rowe, President and CEO of America's Small Business Development Centers, provided essential feedback on:
How the Paycheck Protection Program is different from an economic injury disaster loan
Who is eligible?
In order to qualify for an SBA economic injury disaster loan, a business must prove substantial economic injury – that it is unable to pay its ordinary and necessary operating expenses. The point of the loan is to help a business ride out a disaster period until normal operations can resume – it applies to situations where there is no physical damage.
In order to qualify for PPP, a business must have less than 500 employees and be affected by the coronavirus. Businesses in certain industries may have more than 500 employees if they meet the SBA’s size standards for those industries.
PPP is designed to incentivize companies to keep employees on staff. It is expected to move cash more quickly than the SBA’s other program, for faster economic relief.
SAN ANTONIO – In the wake of the coronavirus pandemic, some restaurants have started selling groceries and other supplies like gloves and toilet paper to customers. Governor Greg Abbott opened the door to the practice last week when he waived restrictions that prevent restaurants from selling bulk items from distributors directly to consumers.
Several San Antonio-area eateries are selling supplies to consumers. Click "Continue Reading" for the ones KSAT found online.
Foresite would like to add to this list: First Course Salad Kitchen (22015 W I-10 Suite 107) and The County Line (check location availability). Submit your restaurant or favorite local spots selling these goods to add the this list on the retailer's Facebook Group.
Their seats spread far apart from each other, Bexar County commissioners on Tuesday approved a loan program to tide small business owners over amid the economic strife caused by the pandemic.
In an effort to practice social distancing, the commissioners sat in separate desks instead of on the dais at their regular Tuesday meeting. They discussed the “Stay Home, Work Safe” orders issued Monday by Mayor Ron Nirenberg and Bexar County Judge Nelson Wolff, which directs people to stay home as much as possible to avoid spreading COVID-19.
“Basically, what we’re trying to do in the order is try to get a balance as best as we can between the public health challenge and the economic consequences of that,” Wolff said. “The order is telling people to stay at home unless they’ve got an essential trip or they’re one of the employees designated by their business to be there.”
Sam’s Club Giving and the Walmart Foundation have awarded an $800,000 grant to LiftFund to extend its reach in providing small business loans and educational resources to small business owners with a portion of the funds dedicated to helping veterans.
“Sam’s Club and Walmart are committed to helping small business owners succeed,” Anne Hatfield, Walmart spokesperson said. “We support the great work LiftFund is doing for small business owners in San Antonio and hope this grant will help provide them with the education and the tools they need to run and grow their companies.”
LiftFund is proud to continue supporting entrepreneurs through the grant, and will dedicate a portion of the funds to veteran programming and services.
SAN ANTONIO – The restaurant industry is taking a hard hit right now as dining areas must remain closed because of emergency measures taken due to the coronavirus pandemic.
Despite the dine-in ban, some eateries in San Antonio are coming up with unique ways to stay open.
Here’s a list of what they are doing:
iHeartMedia launched this incredible tool to keep up to date restaurant information. Add your restaurant for your customers so they are able to know exactly when and how they can get their hands on your grub!
Grub to Go is a source for restaurant hours, delivery options and menus during the Corona Outbreak. This page is being pushed out to all of the broadcasting stations.
San Antonio Restaurants - What's Open and Delivery Options. If you own a restaurant, we are here to help. Click here and give us your info.
The San Antonio Business Journal is focusing this week’s feature story on the impact — particularly the economic impact — of the coronavirus. It is the topic that has forced its way to the top of all our minds and will be there for the foreseeable future.
As the Alamo City area, Texas, the U.S. and the world have been forced to drastically modify our behaviors in an effort to slow the virus’ spread, we’re faced with how drastically our economy depends on our ability to move and mingle.
Although many jobs can be performed at home for the long-term, some can only reasonably be done that way temporarily, while others — such as manufacturing and stocking grocery store shelves — need people on-site. Meanwhile, many people depend on in-person customer interaction for their jobs; for them and the people who depend on them, there is great uncertainty.
SAN ANTONIO - Some new changes are coming to Bexar County in response to the COVID-19 pandemic.
Bexar County officials are working right now to help local small businesses that are suffering because of social distancing precautions against the coronavirus.
Bexar County Commissioner Justin Rodriguez announced that the county will be offering $5 million in interest free loans and $250,000 in grants to help businesses which are struggling with payroll.
Rodriguez said the loans would be 0% interest and there would be a four-month grace period before payments would begin. The details are still being worked out and should be finalized in the coming days.
Buy gift cards
Purchasing a gift card to your favorite shop, theater or restaurant is an immediate way to put cash into the business, said Amanda Ballantyne, national director of The Main Street Alliance.
That's exactly what Luz Urrutia, CEO of the Opportunity Fund, a nonprofit microlender, has done. "I just bought gift cards to every one of the [local] restaurants that I love. They get their cash today. And I'll be able to use it later."
Shop local -- online and off
Molly Moon runs several ice cream shops in Seattle, which already has been hard hit by coronavirus. Moon, who employs 120 people, said she's now considering "extremely reduced hours ... It's breaking my heart."
For healthy customers running errands, she encourages them in good humor to "stock up on pints for the hard times." For those who stay home, Moon invites them to buy gift cards and store merchandise on her company web site.
When it comes to shopping locally, health guidance from the Centers for Disease Prevention and Control "is literally disrupting business as usual," said Abigail Ellman, a director at the Cooper Square Committee, a nonprofit working to prevent the displacement of residents and small businesses on the Lower East Side of Manhattan.
Right now, Ellman noted, businesses are worried about how to make rent and payroll. Customers alone can't cure that strain, but she said "they need you to shop there. Support your local pharmacies and restaurants and businesses."
Take advantage of discounts
Taproom No. 307, a craft beer restaurant in New York City, is usually packed on Friday nights, and is really busy around St. Patrick's Day.
As of this week, the place has been practically empty. "People are afraid," said co-owner Roberta Souza.
It doesn't help that the restaurant is a place patrons come to watch live sports and most have now been canceled.
To entice customers who would rather stay home, Souza is offering a 20% discount on takeout.
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