We're here to provide all the advice and resources we can find for our business and property owners in this challenging business environment. There are local and federal initiatives that will finalize soon, expect another newsletter soon.
Check the March 23 newsletter for many business support links. Here are more.
IR-2020-54, IRS: High-deductible health plans can cover coronavirus costs
IR-2020-57, Treasury, IRS and Labor announce plan to implement Coronavirus-related paid leave for workers and tax credits for small and midsize businesses to swiftly recover the cost of providing Coronavirus-related leave
IR-2020-58, Tax Day now July 15: Treasury, IRS extend filing deadline and federal tax payments regardless of amount
IR-2020-59, IRS unveils new People First Initiative; COVID-19 effort temporarily adjusts, suspends key compliance program
IR 2020-61 Economic impact payments: What you need to know
Kelly Trevino, Economic Development Analyst, ext 8426
Clair Whitmer, FUSE Opportunity Zone Specialist 510.731.7890
Union Bank, including our Chinatown Branch
From Union Bank: "As one of the top three most active Small Business Administration (SBA) Direct Lenders in California, we will provide an update on the C.A.R.E.S. Act (Coronavirus Aid, Relief & Economic Security) and the SBA’s Paycheck Protection Program as soon as final guidance is available. In the interim, we encourage you to visit the COVID-19 resource center at unionbank.com for the most current information."
See SBA info below.
National Council for Nonprofits - for you nonprofits out there. Contact us - we have a few more details. CARES Act
The latest on the Families First Coronavirus Response Act (FFCRA) from ThinkHR. And very useful Employer FAQ from a webinar they presented recently. More detail below for:
Save Our Small Businesses Act City of Fresno. According the Miguel Arias, Council President and District 3 Councilmember, the final details should be available by the end of the week
Homelessness and the pandemic
SBA Loan program available now
Individual Resources
Food for Thought
And finally, here's something really great you can do for local businesses from Elliott Balch, who shared this LinkedIn post:
"I am requesting everyone in my network to purchase a gift certificate from your favorite local business. They need cash now and you will benefit later. If they do not have gift certificates, send them money and have them send an email acknowledging future use of the funds. Any amount. If you have problems justifying the expense, think of the money you have saved by the reduction in your driving. About 50 cents a mile. #smallbusiness #giftcards #localbusiness #buylocal"
Workforce Development Board - They help match laid-off employees with resumes and jobs. Here's a file that describes their work. And here's their website.
Later this week the SBA and Treasury Department will launch the new Paycheck Protection Program to help keep employees on payroll and small businesses operating. Additional information about this program will be shared in the coming days.
Two SBA emergency capital programs are available today and more will be coming soon:
Low interest, long term Economic Injury Disaster Loans for up to $2 million: The first payment is deferred for 12 months. The application has been simplified and can be completed 100% online through our improved web portal at www.sba.gov/disaster.
Economic Injury Disaster LoanAdvance for up to $10,000: The form to apply is part of the economic injury disaster loan application. If approved, these funds can be used for payroll and other operating expenses and will be forgiven.
Plus, a little of what's happening now. Here's an excerpt from a New York Times article in their newsletter California Today:
Julianna Mazziliano, an 18-year-old student at Fresno State University, told me that, in the meantime, she’s overwhelmed.
Ms. Mazziliano was working two jobs, but her hours have been slashed thanks to the coronavirus.
The catering company where Ms. Mazziliano worked is shut down for now, and she’s gotten just about five hours a week at a fast-casual pizza chain, where she’s also worried about contracting the virus while handling cash or interacting with customers. She’s taking home about $30 per week.
She said she’s gotten food from the university’s food pantry for students and she’s applied for unemployment benefits. Still, she knows that even if evictions have been paused in Fresno, the $865 in rent she owes for a one-bedroom apartment she shares with her boyfriend, whose work has also been cut, will become just another bill due down the line.
“I think a lot of people that have money and their jobs are still operating,” Ms. Mazziliano said, “I don’t think they clearly understand what people are going through.”
Homelessness Update from Council President and District 3 Councilmember Miguel Arias:
To date, we have housed 500 unsheltered homeless in our City. They have been placed in shelters with individual units. Motels and hotels are also being secured for additional capacity. The success thus far is that the homeless have accepted the housing. The housing is across the City.
The pandemic reaffirms that the older shelters that place hundreds of people under one tent or roof exposes homeless to contamination. The services can easily be provided to them irrespective of the location. Rural cities have stepped up to house their homeless as well in their communities.
Going forward, we will take the medical lessons, deployment of services and the concept of sheltering homeless across the city.
Below - some California numbers.
And take a full 20 seconds. Sing Happy Birthday to lather up and sing Happy Birthday again to wash off.
Community Meetings in 2020 All meetings are held at 912 F Street from 5:30 - 6:30 pm
Tuesday, April 21 (virtual meeting)
Tuesday, June 9
Tuesday, August 11
Tuesday, November 10
Have questions? Ask us!
Our office at 9122 F Street is temporarily closed.
Contact: Jan Minami, Executive Director, 559.859.1763, chinatown93706@gmail.com