The funding capacity for The Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) have both been reached as of April 15. Applications have been closed.
Congress is currently working on an additional stimulus package to increase the capacity of both the PPP and EIDL programs and the hope is that they can resolve their issues and come to an agreement to continue both programs.
SRBX continues to advocate to our regional Congressional representatives for additional stimulus funds.
OSHA Issues COVID-19 Interim Enforcement Response Plan
Continuing its recent trend to update employers on COVID-19 safety, on April 13, 2020, the Occupational Safety and Health Administration (OSHA) issued an Interim Enforcement Response Plan for Coronavirus Disease 2019 (COVID-19), providing specific guidance to all OSHA Regional Administrators and State Plan Designees on how to investigate potential COVID-19 hazards. The guidance addresses how OSHA offices should allocate resources for protecting workers across all industries. Here Cal/OSHA has a plethora of resources on their COVID-19 page
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses.
Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward. The United States Chamber of Commerce has developed this excellent Emergency Loan guide and checklist for Small Businesses.
The Families First Coronavirus Response Act (FFCRA or ACT) requires certain employers to provide their employees with paid sick leave and expanded family and medical leave for specified reasons related to COVID-19. EMPLOYERS ARE REQUIRED TO POST THIS NOTICE IMMEDIATELY! These provisions will apply from April 1, 2020 through December 31, 2020.
For FAQ on the Families First Coronavirus Response Act Notice please click here.