Guidance for Rockford Area Businesses and Employers (.DOC)
Covering topics from continuity planning, supply chain protection, and employee communications. This guide helps businesses evaluate different aspects of continuing to maintain connections with customers and employees.
Families First Response Act – COVID-19
This provides an overview of the Families First Coronavirus Response Act COVID-19. This Act is an emergency FMLA Expansion Act and the Emergency Paid Sick Leave Act.
It is effective from April 2 through December 31, 2020.
Payroll Protection Program
The program generally targets businesses, nonprofits, Tribal businesses, and veteran’s organizations with 500 employees or less as eligible for federally insured, partially forgivable loans that can be used to cover short-term operating expenses during the economic crisis.
Subsidy for Current Loan Payments
The Small Business Administration (SBA) will cover up to 6 months of principal and interest payments that are owed on most existing SBA loans.
Economic Injury Disaster Loan
The program from SBA provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. Borrowers can request an emergency advance of $10,000 within 3 days of submitting the application and do not have to repay the advance if they are denied a loan.
These documents provide guidance for employers who are providing remote work or telecommuting to comply with physical distancing or essential business requirements.