Staying On Track: Coronavirus Resources for Small Businesses

We understand this is a difficult time for many as the world deals with the spread of the COVID-19 virus. Here at Details Flowers Software we are taking measures to protect our team and our business so we can continue to provide high-quality service without interruption. We also want to make sure you know of resources you can use to help you stay on track!

As many of us are starting to feel the weight of the COVID-19 virus, governments around the world are rolling out financial relief measures and programs to support small businesses impacted by the pandemic. Below we have accumulated a list of relief efforts within the United States, Canada, Australia, and the United Kingdom to better serve our customers during this time of need.  We want to ensure that everyone who needs help knows where they can go to receive it.

Note: We will update this post as more resources become available. Feel free to bookmark this blog to stay up-to-date!

Last Updated: March 25, 2020

United States of America

  • Federal - Low-interest loans up to $2 million through the Small Business Administration for states impacted by COVID-19.
  • Families First Coronavirus Response Act - The second coronavirus relief bill created new measures supporting individuals who need to take time off work — either to recover from an illness or to care for an ill family member. Under these new provisions, individuals can take a two-week sick leave or a three-month leave to care for a child out of school or daycare. Sickness includes not just those who are infected but those who are quarantined with a possible infection, according to the bill
  • City Of New York - Zero-interest loans of up to $75,000 for businesses with less than 100 employees. 40% of payroll costs covered for businesses with less than 5 employees.
  • State of Massachusetts - Emergency capital up to $75,000 to Massachusetts-based businesses impacted by COVID-19 with under 50 full- and part-time employees, including nonprofits. 
  • State of Florida - Up to $50,000 per eligible small business. Loans of up to $100,000 may be made in special cases. Interest-free for the first year and 12% per annum thereafter.
  • California - IBank, a unit within the Governor’s Office of Business and Economic Development, is providing disaster loans of up to $1 million for small business borrowers as well as $500 to $10,000 loans for low-wealth entrepreneurs in declared disaster areas. The state’s Employment Development Department is also providing a work-sharing program for employers who need to reduce work hours, support teams for businesses planning closures or layoffs, and deadline extensions for filing payroll reports and taxes
  • City of San Francisco - $10,000 for employee salaries and rent for businesses with less than 5 employees.
  • City of Sacramento - Zero-interest loans of up to $25,000.
  • Chicago - Mayor Lori Lightfoot revealed a $100 million Chicago Small Business Resiliency Loan Fund that will provide low-interest loans to the city’s struggling small businesses.
  • Denver - The city’s business owners can apply for cash grants of up to $7,500 as part of the Denver Economic Development and Opportunity’s emergency relief program. Denver Mayor Michael Hancock also announced the creation of a $4 million small business relief fund.
  • Maine - Led by Governor Janet Mills, Maine is one of the first states to be approved for SBA loans. The state will allocate up to $2 million in aid for small businesses. 
  • Michigan - The Michigan Economic Development Corp. received approval to implement a Michigan Small Business Relief Program that will allocate $10 million in small business grants and $10 million in small business loans to local business owners.
  •  New Mexico - Economic Development Department (NMEDD) has created a program to assist businesses seeking emergency loans or lines of credit to deal with negative economic impacts from COVID-19. NMEDD can guarantee a portion of a loan or line of credit up to 80% of principal or $50,000. Loan proceeds are flexible and can be used for working capital, inventory, payroll, and more.
  • Seattle - The city’s Office of Economic Development is providing $1.5 million in grants of up to $10,000 to small businesses. The mayor is also deferring tax payments for business-owner candidates and will set up a small-business recovery task force.
  • Wisconsin - The Wisconsin Economic Development Corp. launched Small Business 20/20—a $5 million grant program that will give companies with fewer than 20 employees up to $20,000.
  • California - IBank, a unit within the Governor’s Office of Business and Economic Development, is providing disaster loans of up to $1 million for small business borrowers as well as $500 to $10,000 loans for low-wealth entrepreneurs in declared disaster areas. The state’s Employment Development Department is also providing a work-sharing program for employers who need to reduce work hours, support teams for businesses planning closures or layoffs, and deadline extensions for filing payroll reports and taxes
  • New Mexico - Economic Development Department (NMEDD) has created a program to assist businesses seeking emergency loans or lines of credit to deal with negative economic impacts from COVID-19. NMEDD can guarantee a portion of a loan or line of credit up to 80% of principal or $50,000. Loan proceeds are flexible and can be used for working capital, inventory, payroll, and more.
  • Families First Coronavirus Response Act - The second coronavirus relief bill created new measures supporting individuals who need to take time off work — either to recover from an illness or to care for an ill family member. Under these new provisions, individuals can take a two-week sick leave or a three-month leave to care for a child out of school or daycare. Sickness includes not just those who are infected but those who are quarantined with a possible infection, according to the bill.

Canada

  • Wage Subsidy - Eligible small employers will receive a wage subsidy for a period of three months. This is equal to 10% of remuneration paid during that period, up to a maximum subsidy of $1,375 per employee and $25,000 per employer.
  • Defer Tax Filing - Businesses can defer the payment of any income tax amounts that become owing on or after today and before September 2020. The government will not initiate any GST/HST or Income Tax audits for the next four weeks.
  • Emergency Care Benefits -  Up to $900 bi-weekly, for up to 15 weeks for workers who need to stay home due to illness, parents who need to take care of children, or those taking care of a sick family member.
  • Small Business Loan -  Low-interest loans up to $100,000 if your business has been generating revenues for at least 24 months.
  • Purchase Order Financing - Cover up to 90% of the purchase order amount to ease cash flow to your suppliers.

Australia

medium-sized businesses with annual net sales of less than $50 million.

  • Tax Deduction - Instant asset write-off threshold increased from $30,000 to $150,000 for businesses with annual net sales of less than $500 million until 30 June 2020.
  • Support Of Apprentices and Trainees - Eligible employers can apply for a wage subsidy of 50% of apprentice or trainee wages for up to 9 months from 1 January 2020 to 30 September 2020 (up to a maximum of $21,000 per eligible apprentice or trainee).

United Kingdom

  • Business Interruption Loan - Recover 2 weeks of sick pay due to COVID-19 for businesses with less than 250 employees. £3,000 for businesses whose property’s rateable value is less than £15,000. 
  • Small Business Grant - Receive a one-off grant of £3,000, if you’re eligible for small business rates relief or Rural Rate Relief, to help meet ongoing business costs.
  • Business Rate Relief - The Business Rates retail discount in England will increase to 100% for the 2020 to 2021 tax year for properties below a £51,000 rateable value.
  • Rates Relief (Scotland) - 75% rates relief for retail, hospitality and leisure sectors with a rateable value of less than £69,000 from April 1, 2020. 
  • SMB Grants (Scotland) - Grants of at least £3,000 to small businesses in sectors facing the worst economic impact of COVID-19

General Information Resources

  • CDC: Useful information relating to Coronavirus.
  • The New York Times: The NYT set up a page to provide free access to important news and useful guidance on the coronavirus outbreak. You can sign-up for email updates to stay informed.
  • Coronavirus Tracking: A student in Washington state set up this coronavirus tracking website that is frequently updated with statistics relating to cases worldwide.

 

We urge our customers both at home and abroad to reach out and take advantage of these programs if you need assistance. We understand that the future of this thing is unclear right now and we want to do what we can to assist. With many clients processing how to move forward with planned events, let's encourage them to  reschedule their events to a later date!

We are all trying to find our way during this time of uncertainty so that when business starts up again we will be ready to hit the ground running! With this in mind, please make sure to be kind to one another and know that we are all feeling the same stress. When we grow together, we flourish. The team here at Details is keeping florists everywhere in our thoughts - we know we can all get through this!

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