info on federal support for small businesses and more - the April 1 Coronavirus response from Ward 5 CM McDuffie

From: Councilmember Kenyan R. McDuffie <kmcduffie@dccouncil.us>

Sent: Wednesday, April 1, 2020 9:15 PM
Subject: April 1 Coronavirus Response - Info on Federal Support for Small Business and more

View this email in your browser Below are today's updates on the District's response to the coronavirus pandemic. For the latest and most comprehensive information always visit http://coronavirus.dc.gov. Details Emerge on Federal Support Small Businesses Through Paycheck Protection Program Data on Coronavirus in DC It is Census Day! Get the Latest Information from the Mayor Daily at 11:00 am Details Emerge on Federal Support Small Businesses Through Paycheck Protection Program The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities. Fully Forgiven Funds are provided in the form of loans that will be fully forgiven when used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees. Must Keep Employees on the Payroll—or Rehire Quickly Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease. All Small Businesses Eligible Small businesses with 500 or fewer employees—including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors— are eligible. Businesses with more than 500 employees are eligible in certain industries. When to Apply Starting April 3, 2020, small businesses and sole proprietorships can apply. Starting April 10, 2020, independent contractors and self-employed individuals can apply. We encourage you to apply as quickly as you can because there is a funding cap. How to Apply You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating. All loans will have the same terms regardless of lender or borrower. A list of participating lenders as well as additional information and full terms can be found at www.sba.gov. The Paycheck Protection Program is implemented by the Small Business Administration with support from the Department of the Treasury. Lenders should also visit www.sba.gov or www.coronavirus.gov for more information. Data on Coronavirus in DC As of today, April 1, 2020 the District’s reported coronavirus (COVID-19) data includes 91 new positive cases, bringing the District’s overall positive case total to 586. The District reported two new COVID-19 related deaths, bringing the District’s total to 11. This information is updated daily and accessible navigating to http://coronavirus.dc.gov and clicking 'data' on the top menu bar. For the first time, ward-level data was released and is reported below. For a number of reasons, public health officials caution residents from drawing strong conclusions based on this data. With ongoing community transmission, contact tracing is focused on positive cases associated with healthcare workers (including first responders), senior care facilities, correctional and detention centers, childcare facilities, and facilities serving individuals who are experiencing homelessness. Guidance has been published for healthcare providers, employers and the public to provide information on what to do if you have been diagnosed with or are a contact of someone who has COVID-19. District residents are encouraged to STAY AT HOME and take the following actions to help prevent the spread of COVID-19: Stay home when you are sick Avoid close contact with people who are sick Wash hands with soap and water for at least 20 seconds. An alcohol-based hand sanitizer can be used if soap and water are not available Avoid touching eyes, nose and mouth with unwashed hands Cover your cough or sneeze with a tissue, then throw the tissue in the trash Clean and disinfect frequently touched objects and surfaces If you have to leave home for an essential purpose, practice social distancing and stay six feet apart from others. It is Census Day! Today, April 1, is Census Day! Get your self-response in while you are at home social distancing. Even if you don't have the letter from the census, you can still self-respond via phone at 844-330-2020 or online at http://2020Census.gov Get the Latest Information from the Mayor Daily at 11:00 am Mayor Bowser is providing daily briefings at the standard time of 11:00 am. The briefings can be viewed on cable channel 16, the DC Office of Cable Television, Film, Music, and Entertainment website, or on the Mayor's social media channels.