Quick answers! Do you need:

Financial Assistance for a business? View resources available as of September 2020.

• A quick infusion of a smaller amount of cash to cover you right now?
Read about EIDLs.

•  Funding and Incentives Center for Vermont businesses
 

Versatile financing options? Small Business Debt Relief may be right for you.

Financial Assistance, Grants, and Business Loans

September 2020 update:
Vermont Emergency Economic Recovery Grants Now Open

The State of Vermont is  administering Economic Recovery Grants for certain business types. Other state agencies are also administering grants for other types of businesses. Click here to learn more and apply.

 

Contact your lender and regional business assistance providers for alternative loan products and funding sources,  as well as access to free technical assistance for help navigating options currently available including:
 

Dollars
 
 

Emergency Economic Injury Disaster Loans (EIDLs)

Quick Influx of Cash may be Available to you

The US Small Businesses Administration has reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19.

 

The EIDL program offers long-term, low interest loans for small businesses and nonprofits that can be used to cover payroll and inventory, pay debt, or fund other expenses. The EIDL Advance program will provide up to $10,000 of emergency economic relief grants to businesses that are currently experiencing temporary difficulties.

Learn more about EIDLs before applying

Office Work
 

Debt Relief Program

Non-disaster SBA loans

This program will provide immediate relief to small businesses through non-disaster SBA loans, in particular 7(a), 504, and microloans.

Under it, SBA will cover all loan payments on these SBA loans, including principal, interest, and fees, for six months. This relief will also be available to new borrowers who take out loans within six months of the President signing the bill into law

usa-flag-waving-on-white-metal-pole-1550

Business Income Insurance and Tax Credits

Does your business insurance cover pandemic losses?

The Department of Financial Regulation has developed a guidance overview of whether business insurance will cover loss of income and other issues caused by COVID-19. The NAIC has also posted an Insurance Brief (COVID-19 and Insurance) that provides a good overview of how different types of policies respond to losses related to COVID-19, including Travel, Health, Life, Annuities, Business Interruption, Workers' Compensation, and other insurance.

 

NEW: Employer Tax Credits

 

Many businesses that have been severely impacted by coronavirus (COVID-19) will qualify for two new employer tax credits – the Credit for Sick and Family Leave and the Employee Retention Credit. 

 
 

Unemployment: FAQs for Businesses and Workers

 Laid off? Make sure to use the new online initial enrollment form, found here.

Pandemic Unemployment Assistance (PUA) System Still Accepting Applications


Vermonters who are self-employed, independent contractors, and other individuals who are not eligible for traditional unemployment insurance benefits may now apply online for the new Pandemic Unemployment Assistance (PUA) program.

Find more information on the PUA application process and eligibility.

Bankruptcy Filing
Families First Coronavirus Response Act (FFCRA)

The Families First Coronavirus Response Act (FFCRA) requires certain employers to provide their employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. These provisions will apply from the effective date through December 31, 2020.

What does it mean for employers?

 
 

Employer Support for Working Parents

Now that the school year is here, many of your employees are struggling to balance the need for their children to be in a safe, stable environment and their own careers. Our homes haven't become just our office for some — they're our childcare centers and our school classrooms.

Vermont Childcare Hubs for Remote Students: Info and Maps

 

As an employer or manager, you want to be supportive while encouraging productivity. Where do you begin?

Questions to consider:


1. Do current workplace policies provide sufficient support during COVID-19 to employees and their families?
3. How can employers communicate best with working parents to facilitate open and honest conversations?

3. How can you offer flexibility and creative solutions as a way to support workers and maximize productivity?

4. What is your organizational preparation plan for the inevitable disruptions of quarantines or lockdowns? For instance, employers can develop back-up staffing plans and cross-train employees to perform essential functions.

Our management consultation hotline is available to you! Call us at 888-392-0050 to strategize solutions for your company.

Back-to-Business FAQs for Employers and HR Directors
(by Fisher Phillips workplace attorneys)

©2020 by Invest EAP/Centers for Wellbeing