Resources for Small Businesses During COVID-19

 

Listed on this page is several different resources that may be helpful for you and your practice during the COVID-19 pandemic. Feel free to use the hyperlinks or web addresses that may be most helpful to you. We are here to support you in any way that we can; this list will be ongoing and may update as new information arises.

 

Silver Laptop In White Wooden Table

 

Information about the paycheck protection program that is part of the CARES act:

https://gop-waysandmeans.house.gov/wp-content/uploads/2020/03/Paycheck-Protection-Program-FAQs-for-Small-Businesses-FINAL.pdf

$100B Hospital and providers package – This is also part of the CARES ACT directed towards hospitals.  Details of this program are being communicated soon.

Cares Act Loan Availability - This act permits one to borrow from their own retirement account without penalty.  Loan amounts of up to $100,000 are allowed for certain retirement plans.  One will have 180 days before any repayment is due.  The Act also provides favorable hardship withdrawal terms (deferred taxes over 3 years and abatement of the 10% penalty). Consult your retirement plan administrator for more information.  

Q and A for CARES Act

 

 

Medicare is also expanding their advanced payment program to cover COVID-19:

Medicare acceleration and advance payment program – This program will accelerate/advance any Medicare claims.  Most providers will be able to request up to 100% of the Medicare payment amount for a three-month period, and will pay in advance the 'average' amount of Medicare payments that you receive on a monthly basis up to 3 months.   Any repayment to Medicare will begin in 120 days, and you will have up to 210 days for complete repayment.

www.cms.gov/files/document/Accelerated-and-Advanced-Payments-Fact-Sheet.pdf

 

 

Small Business Relief Program

Grants:

https://www.michiganbusiness.org/495144/globalassets/documents/covid19/michigan-small-business-relief-program-grants_final.pdf

Loans:

https://www.michiganbusiness.org/494fed/globalassets/documents/covid19/michigan-small-business-relief-program-loans_final.pdf

Notice regarding application:

https://www.michiganbusiness.org/about-medc/covid19/small-business-relief-program/ and https://www.michigan.gov/coronavirus/0,9753,7-406-98163-523333--,00.html

Small business disaster loans:

https://sbdcmichigan.org/small-business-covid19/

Additional resources for businesses during covid:

https://www.michiganbusiness.org/covid19/ and

Supply donations and procurement:

https://www.michiganbusiness.org/virtual-procurement/

Small Business Paycheck Protection Program:

For businesses under 500 employees, you may apply for a low percentage loan (1%) from a participating bank (the bank which you do your routine business).  The amount of the loan is determined by your payroll and other business expenses.  If the proceeds are used to keep employees employed during and through the crisis, any loan amount will be forgiven.  Up to 25% of the loan amount may be applied to non-employee expenses (rent, equipment payments, etc.).  Applications began to be accepted on Friday 4/3, but most banks were unable to accept such applications due to an incomplete understanding of the program, so most banks will begin accepting applications on Monday 4/6.  There is $325 Billion dollars for this program, but it spans all small businesses.

Payment Protection Overview

 

 

 

Personal Protective Equipment Needs

Make sure to utilize the state system through local emergency managers; always let your local emergency managers know of your need and the managers will place a resource request into the state system.  Local emergency managers can be found at

www.michigan.gov/msp/0,4643,7-123-72297_60152_66814---,00.html.

 

  1. Wayne County - hsemhelp@waynecounty.com
  2. Oakland County - oakhsd@oakgov.com
  3. Macomb County – mcoem@macombgov.org
  4. Monroe County – emergencymgt@monroemi.org
  5. Michigan Economic Development Corporation is also supporting procurement and donations of PPE through Pure Michigan Business Connect.  https://pmbc.connect.space/covid19/forms

 

 

 

Community Resources During COVID-19

Community Resources COVID-19 PDF

General Information Websites

Oakland County Meal Programs

Pontiac-Specific Meal Programs

OC COVID-19 Repository