April 1, 2020
Since Hand Law is focused on government, we are publishing updates on how policymakers are responding to the pandemic – and what those responses mean for you. This third article highlights localities. For all of the attention on the $2 trillion federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, city/county governments on the COVID-19 front lines are also leading efforts to help small businesses.
COVID-19 PUBLIC HEALTH UPDATE
The latest State of Florida report (Wednesday, 4/1 at 11:53 AM) shows 6,955 total cases. Please track statewide data and county information.
CITY AND COUNTY GOVERNMENTS RISE TO THE OCCASION
In the CARES Act, Congress recognized that small business is the heart of any local economy. It invested $377 million to help small businesses survive the COVID-19 economic crisis. Please read more about CARES Act business assistance here. Many states have also launched their own small business initiatives.
But cities and counties are not waiting for federal or state assistance to reach the small business community. Local governments in Florida and around the nation have unveiled or adopted their own programs. Examples include:
The City of Jacksonville, Florida has partnered with VyStar Credit Union to create a Small Business Lending Program, which will “provide a combination of grants, interest payments and potential aid toward the principal of the loan, with some elements tied to employee retention.” More at www.coj.net/welcome/news/city,-vystar-announce-plans-for-lending-program-fo.
The City of Tallahassee and Leon County, Florida have launched a COVID-19 Emergency Disaster Relief (CEDR) grant providing “initial cash flow to businesses economically impacted by COVID-19”, with grants ranging between $1,500 and $5,000 depending on business size. More at https://talgov.com/Main/cedr.aspx
The City and County of Denver, Colorado has established a Small Business Emergency Relief grant “to assist eligible small businesses that may have had to temporarily close, have difficulty with paying their rent and utilities, or have had to lay off staff.” More at www.denvergov.org/content/denvergov/en/environmental-health/news/coronavirus-info/support-services/business-assistance.html.
The City of Detroit and Wayne County, Michigan offer grants to eligible small businesses through the Detroit Economic Growth Corporation. Those businesses not eligible for grants may have access to state loans. More at http://www.degc.org/medc-degc-to-provide-covid-19-relief-funds-to-detroit-small-businesses/
Oklahoma City, Oklahoma has adopted an assistance plan that will provide cash incentives for small business that retain payroll, establish a no-interest forgivable loan program, and supply technical assistance. More at www.okc.gov/Home/Components/News/News/3319/18
San Diego, California has “established a Small Business Relief Fund (SBRF) to provide grants and forgivable or low- to zero-interest-rate loans to eligible small businesses” to “help businesses retain employees and sustain…business operations impacted by federal, California, San Diego County and local emergency declarations regarding COVID-19.” More at www.sandiego.gov/economic-development/resources/relief.