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Relief for Employers under the CARE Act:
SBA Paycheck Protection Program Loans – Forgivable loans for payroll, rent and sick leave. The CARES Act has multiple separate Acts within it. One of them is the, “Keeping American Workers Paid and Employed Act.” This authorizes loans for qualified employers to continue to cover payroll support (employee salaries, paid sick or medical leave, insurance premiums), and mortgage, rent and utility payment. Loan money spent on these items is eligible for SBA loan forgiveness.
Economic Injury Disaster Loan Assistance Grants through SBA – Sick leave, payroll during slowdowns, increase supply costs, rent and mortgage payments. These loans are approved quickly.
Employee Retention Credit (refundable payroll tax credit) up to 10k per employee for businesses whose operations were suspended or lost 50% of gross receipts year over year.
Delayed payment of employer payroll taxes (941 taxes) until Dec 31, 2020 (50% due) and Dec 31, 2022 (50% due) without penalty.
Entrepreneurial Grants – Costs associated with education, training and applying for resources.
Relief for Employers under the Families First Coronavirus Response Act (FFCRA or Act)
Mandatory paid sick leave up to two weeks for employees seeking a diagnosis or ill with COVID-19. Mandatory paid leave for employees caring for a child not at school or ill. This leave is reimbursable through payroll taxes so is not expected to cost employers, except administration costs.
Resources and Guidance
If you’d like to start serving emerging crisis needs, the Pivot Project will help you make those changes.
Federal Pandemic Unemployment Compensation is a $600 supplement to state-paid unemployment compensation for those who already qualify, a pandemic unemployment assistance program for unemployed workers who would not normally be eligible (self employed, those with limited work history, contractors) and an extension of unemployment compensation by 13 weeks.
Louisiana has yet to provide guidance about how to access these benefits, additional guidance is expected this week.
Health Insurance Coverage:
Telemedicine visits for free are offered through most insurance plans – check with yours to take advantage.
Getting on Employer Health Insurance outside of open enrollment – most carriers have waived qualifying events.
All COVID testing and treatment is provided for free
Pandemic Unemployment Assistance (PUA) provides emergency unemployment assistance to workers who are left out of regular state UI or who have exhausted their state UI benefits. Those eligible for PUA include self-employed workers, including independent contractors, freelancers, workers seeking part-time work, and workers who do not have a long-enough work history to qualify for state UI benefits. Applicants will need to provide self-certification that they are (1) partially or fully unemployed, OR (2) unable and unavailable to work because of one of the several circumstances. Workers are not eligible for PUA if they can either telework with pay or are receiving paid sick days or paid leave.
Student Loans can be deferred.
Your housing provider may be able to provide rent relief – get in touch with them.
Free meals, grocery and lunch items are available throughout the city – view the New Orleans COVID-19 page.