The quarantine is here. Here’s what you need to know about how the virus affects you and your business.
You’re probably getting money. The stimulus package recently passed by Congress means that you’re likely to receive an economic impact payment. Eligible taxpayers who filed tax returns for either 2019 or 2018 will automatically receive an economic impact payment of up to $1,200 for individuals or $2,400 for married couples. Parents also receive $500 for each qualifying child. [IRS FAQ]
Your business can probably get a loan. The SBA has several avenues in place for small businesses in place during this trying time. Included in this proposal is Paycheck Protection loans, SBA debt relief and SBA Express Bridge Loans. For more information, visit the SBA website.
Your business needs to change. Businesses remaining open should follow the Center for Disease Control’s guidelines to reduce risk of transmission among employees and maintain a healthy work environment.
You’re probably not getting evicted. All landlords and property management companies to suspend physical evictions for 35-40 days due to the current hardships faced by many who were are unemployed due to COVID-19 and who are currently in the process of claiming unemployment benefits.**
“As mayor, my authority to suspend evictions is limited. But, I do have a voice. Today, I’m using it to call on us to remember that there are certain values we all share: compassion, love of neighbor and a belief in doing the right thing. Continue to stay home. If you’re back from spring break, really stay home. And if you’re a landlord, work it out so people can stay home.” - Toby Barker
*Please remember while the recommendation is to not evict during this time, rent is still due.