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covid-19 resources

HMSDC COVID-19 RESOURCES

COVID-19 SUPPLIER RESOURCES
  

 

HMSDC, in cooperation with the Michigan Minority Supplier Development Council (MMSDC), offers an emergency matchmaking tool relative to COVID-19 business opportunities and commercial business requirements across the country.
Both BUYER (Corporations & Governmental Entities) and SELLER (certified MBEs) are urged to register buyer requirements and MBE products/service capabilities to assist with seamlessly facilitating virtual matches. MBEs, please ensure NAICS codes and key words are included in your description to ensure the maximum number of qualified matches.
In today’s unprecedented business environment, we understand the importance of maintaining business viability. To that end, we are focused on:

 

  1. Business Opportunities – connecting you to immediate contract opportunities across the NMSDC network.
  2. Working Capital – connecting you to sources of working capital to stabilize your immediate cash flow needs.
  3. Sustainability – connecting you to developmental tools that will prepare you to increase capabilities and capacity in the post COVID-19 business environment.

REGISTER HERE TODAY!    https://minoritysupplier.lpages.co/covid-19/


Register as a Certified supplier with TARGET and other major buying entities: Click Here To Create Your Profile
COVID-19 FEDERAL RESOURCES
The Coronavirus Aid, Relief, and Economic Security Act or the “CARES Act” passed the U.S. Senate last night and is headed to the U.S. House of Representatives for consideration as soon as today March 26. This is a $2 trillion stimulus bill which will provide economic relief to individuals, families, small businesses and other sectors of the United States economy that have been impacted due to the pandemic. Once this is passed in the House and signed by President Trump, most provisions are available to individuals and businesses almost immediately.
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$500 billion in loans to eligible businesses
  • Targeted at companies that do not receive adequate relief from other provisions of the bill, located in the U.S. and with a predominantly U.S. employee base
  • Eligible businesses must maintain employment levels from March 24, 2020 to September 30, 2020
  • Prohibits stock buybacks, dividend payments and increasing compensation for certain high wage employees
  • $46 billion set aside for the airline industry: $25B for passenger airlines; $4B for cargo air carriers; and $17B for businesses important to national security.
$350 billion in small business loans administered nominally through the SBA, called the “Paycheck Protection Program.” Loans will be administered through local and regional banks; any federally regulated bank may become an SBA lender for this purpose. The Department of the Treasury will issue regulations for these loans quickly. SBA lenders will be able to determine eligibility credit worthiness by determining whether a borrower was operational on March 1, 2020 and had employees that they paid salaries and payroll tax. The government guarantee of 7(a) loans would be increased to 100% through the end of 2020, at which point the guarantee would return to 75% for loans over $150,000 and 85% for loans less than or equal to $150,000. The complete deferment of 7(a) loan payments are permitted for up to one year.
  • Targeted at companies with less than 500 employees or otherwise specified by SBA standards
  • Loans can be used for payroll, mortgages, rent, insurance premiums and utility payments.
  • Up to $10 million per company available
  • Cannot apply for SBA disaster loan related to COVID 19 and loans under this program at the same time
  • Loans can be forgiven up to the amount spent by the borrower during the eight weeks from loan origination on payroll costs up to $100,000 in wages, mortgage interest, rent or utilities
    • Forgiveness is reduced by layoffs or pay reductions in excess of 25%.
    • Forgiveness is not treated as taxable income
  • Additionally, $24 billion is set aside for relief to stabilize the farm economy.
CLICK HERE to download the CARES ACT GUIDE
CLICK HERE to download COVID-19 Emergency Loans Checklist for Small Businesses and Nonprofits
SBA PAYCHECK PROTECTION PROGRAM GUIDE
We will update and add to the links below as new guidance and resources become available
EIDL (ECONOMIC INJURY DISASTER LOANS)

CLICK HERE FOR MORE INFORMATION

SMALL BUSINESS GUIDANCE & LOAN RESOURCES
Health and government officials are working together to maintain the safety, security, and health of the American people. Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy.
To find out more about:    

 

  • Economic Injury Disaster Loan Program
  • SBA Express Bridge Loans
  • Guidance for Businesses and Employers
  • SBA Products and Resources
  • Government Contracting
  • Local Assistance

Check Here Daily

Office of the Comptroller of the Currency (www.occ.gov)

COVID-19 EDUCATIONAL RESOURCES

ONLINE WEBINARS
The SBA Houston District Office will provide the latest information from SBA to help small businesses with their economic recovery from the effects of the Coronavirus. We will give information on how to apply and where you can get additional help with preparing and applying for an SBA Economic Injury Disaster Loan and PPP loan.
English Webinars (Monday April 6th- Friday April 10th )
8:30am
Join URL: https://score.zoom.us/j/394322660
Or by Phone: +1 346 248 7799 US (Houston)
Meeting ID: 394-322-660


10:30am
Join URL: https://score.zoom.us/j/847743171
Or by Phone: +1 346 248 7799 US (Houston)
Meeting ID: 847-743-171


3:00pm
Join URL: https://score.zoom.us/j/109522548
Or by Phone: +1 346 248 7799 US (Houston)
Meeting ID: 109-522-548
Spanish Webinars (Tuesday April 7th & Thursday April 9th)
Tuesday- 10:00am
https://meet.lync.com/sba123/amgonzal2/ZMP3N3J8
Join by phone: +1 (210) 469-4148
Conference ID: 926749270


Thursday- 10:00am
https://meet.lync.com/sba123/amgonzal2/J6H13QNK
Join by phone +1 (210) 469-4148
Conference ID: 618401479


COVID-19 STATE & LOCAL RESOURCES

Regional Government Agencies

COVID-19 GENERAL RESOURCES

HMSDC Amazon Smile
HMSDC is proud to announce that we are now an official Amazon Smile partner. AmazonSmile is a simple way for you to support HMSDC every time you shop, at no cost to you. When you shop at https://smile.amazon.com, you’ll find the exact same low prices, vast selection and convenient shopping experience as Amazon.com, with the added benefit that Amazon will donate 0.5% of your eligible purchases to the Council. Just search and select “Houston Minority Business Council”.
CLICK HERE For More Information

Yelp’s Relief for affected businesses
Yelp is providing $25 million in COVID-19 relief for independent restaurant and nightlife businesses in the form of waived advertising fees, and free advertising, products, and services.
https://blog.yelp.com/2020/03/yelp-covid-19-response-and-support-for-local-businesses

Verizon and LISC Small Business COVID-19 Recovery Fund
Verizon’s investment of $2.5 million into a Recovery Fund, is making it possible for LISC to begin offering critical relief and resiliency-building support to small businesses. The funding will go to make grants of up to $10,000, especially to entrepreneurs of color, women-owned businesses and other enterprises in historically under-served places who don’t have access to flexible, affordable capital.
https://www.lisc.org/our-stories/story/verizon-and-lisc-fire-25-million-small-business-covid-19-recovery-fund

James Beard Foundation Food and Beverage Industry Relief Fund
The national nonprofit culinary arts organization has launched the Food and Beverage Industry Relief Fund. The Foundation will be gathering support from corporate, foundation, and individual donors to provide micro-grants to independent food and beverage businesses in need.
https://www.jamesbeard.org/blog/relief-fund

Facebook Small Business Grants Program
Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries where Facebook operates, including the U.S.
https://www.facebook.com/business/grants



The United States Department of Treasury (U.S. Treasury) Secretary, Steven Mnuchin, announced today that the Internal Revenue Service(IRS) filing deadline will be pushed back until July 15 as part of the government’s response to the COVID-19 response.
Earlier this week, the IRS officially deferred payment for individual taxpayers paying up to $1 million of federal income and self-employment tax and for corporations paying up to $10 million of federal income tax. Today’s announcement expands their earlier message by also pushing back the requirement to file returns for 90 days.

McConnell & Jones understands that the situation is changing rapidly and is monitoring information from the IRS and U.S. Treasury as it becomes available.
Should you have any questions or need advice, contact our tax professionals or email the team at IRShelp@mjlm.com. We also have compiled the latest updates and resources to our website, mcconnelljones.com

Additional Information
IRS COVID-19 Resource Page
Latest COVID-19 Updates from the United States Department of Treasury