Some relief is in sight for small business in Kane County.
Every county in Utah has become eligible for Small Business Administration (SBA) Disaster Loans. These loans may make the difference between many of you closing your doors or keeping your doors open. Learn more below.
These are uncertain times and we are all taking things day by day. We urge you to stay informed through the state website www.coronavirus.utah.gov and the Kane County website www.kane.utah.gov as things are changing daily, if not hourly. Our partners at the Salt Lake Chamber of Commerce have a comprehensive business resource list at www.slchamber.com/coronavirus that I wanted to share as well.
Many of you are reducing employee hours or laying off staff. We have a running list of resources for the employees that have been affected on our Kanab Area Help Wanted Facebook page. Information is listed about Utah unemployment insurance, child care assistance, food assistance (SNAP) and local food bank hours. We will work diligently to keep the information there current as we do not want our local workforce and their families to go without.
Because the coronavirus is changing the way businesses operate we are keeping a list of closed business and those who are operating with modified hours or have limited operations on the Kanab Chamber of Commerce Facebook page. On this site we are also listing helpful information and resources specific to small businesses. Please see our social media for the most up to date information and I will continue to send out direct emails to you as needed.
The U.S. Senate approved the Families First Coronavirus Response Act in a 90-8 vote on March 18, and President Donald Trump signed it into law a few hours later. The bill will provide free screening, paid leave and enhanced unemployment insurance benefits for people affected by COVID-19, the respiratory disease caused by the coronavirus.
SBA Disaster Assistance in Response to Coronavirus
Apply for disaster relief, the terms of the SBA loans are as follows:
3.75% interest rate for small businesses
2.75% interest rate for non-profits
Repayment terms of up to 30 years
To apply for SBA loans, please click the following link: https://www.sba.gov/funding-programs/disaster-assistance
- Small Business Administration (SBA) is instructed to provide loans to businesses and workers affected by coronavirus
- Pres. Trump requested a $50B congressional increase to the program
- The Treasury Department will defer tax payments to qualified individuals and businesses affected by the coronavirus
- Governor must request that the SBA declare an Economic Injury Disaster Loan declaration
- Loans up to $2M will be made available to small businesses and private non-profit organizations, with interest rates set at 3.75% and 2.75% respectively
- Loans may be repaid up to 30 years. Terms are determined on a case-by-case basis based on the borrower’s ability to repay
- Loans may be used to cover business operating expenses, including payroll
- For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail email@example.com
EMPLOYERS – UNEMPLOYMENT INSURANCE
As an employer, if I need to shut down operations temporarily because of COVID-19 can my workers file for unemployment benefits? Yes.
Get additional help with via Rapid Response Workshop and FAQ by clicking on —-> this link.
EMPLOYEES – UNEMPLOYMENT AND WIC
If you have lost your job or had hours reduced, there is help. Click on these links —> for unemployment insurance benefits, and Utah’s WIC program.
SEASONAL UNEMPLOYMENT DEFERRALS
DWS has extended seasonal deferrals through May 2nd in light of COVID-19; we could see another extension, possibly to the end of May or June, if the virus continues to spread in the State of Utah.
Many of the individuals on seasonal deferrals have been granted up to 26 weeks of benefits from the start of their claim to be able to file through this date. If you have questions about this deferral or if a new claim is denied, please contact DWS by calling 801-526-4400 or opening a chat on jobs.utah.gov
In order for an unemployment insurance extension to be triggered, the statewide insured unemployment rate has to be 6%; Utah is currently at 1%. Therefore, the State of Utah does not have a special extension. It is highly unlikely that Utah will reach the 6% rate, so we do not expect an unemployment insurance extension.
Temporary extensions of unemployment insurance have to be approved by congress.
If any claim extension issued by congress is released via a, DWS will let the State and local governments know and they will also notify employers and employees via email.
The Federal Stimulation Package bill has been sent to the President for signature, but at this time we do not know if the unemployment extension is included in the bill.
How to Qualify for Paid Leave for Coronavirus
President Donald Trump signed legislation granting paid leave to those impacted by coronavirus. Do you qualify?
Additional Resources from Utah Senator Mitt Romney
As the coronavirus situation in Utah and across the country continues to evolve, the Office of Senator Romney is in regular communication with state and federal agencies, as well as local officials, to provide guidance and keep Utahns informed about response efforts. See the video below from a video conference call Senator Romney had with 5 & 6 County Officials. In this video, Senator Romney discusses resources for businesses during these economic hard times due to COVID-19. You may also visit Senator Romney’s website below for additional resources.