Good Friday afternoon.
I have spent my day jumping from conference call to conference call in an effort to make sure I had the most up to date information regarding the CARES Act and what it means for your business. While it is much to digest, I will get the information confirmed and organized before I forward to you.
Congressman Steve Stivers held a ‘Town Hall’ meeting this afternoon to briefly discuss funding options for small businesses that are in need. There are two types of assistance available. The EIDL and the 7(a). Traditional 7(a) loans are offered in amounts up to $5 million and can be used for working capital, refinancing debt, or purchasing a business, real estate, or equipment. In previous emails, we have spoken of the Economic Injury Disaster Loan (EIDL). The House passed the bill this morning that allows proceeds of the EIDL to be used for wages, benefits, rent and utilities. If the proceeds are used for these purposes, a business can then apply to have the loan turned into a grant which is NOT taxable. Click here for a EIDL Fact Sheet. Even you are not sure if you will need the loan, it is recommended you apply. More detail to come as I get the information sorted!
Many of you may have already received the notification but please note, due to the COVID-19 crisis,the April and May HFC Safety Council Meetings are cancelled.
ALL safety council members will receive automatic credit attendance for both months. The BWC is reviewing policy and legal requirements to determine flexibility with program requirements. When any further decisions are made about the Ohio Safety Council rebate program we will share them with you.
Before I close, I would like to share something with which I continually struggle. The power of words. I called to check on my parents and said “how are you dealing with being stuck at home?” Mom said, “we aren’t stuck at home, we are safe at home.” Then she reminded me to choose my words wisely. The power of positivity is great. I hope we can all find a little positive during this time.
Enjoy your weekend,