As part of the Mayor’s Task force, a meeting via zoom was held for business owners and managers. During the meeting, a few experts gave tips on getting loans. About 44 people participated. Councilman Mark West, who heads the business task force, spoke a few words. “We’re all feeling we’re in uncharted territory. The business community throughout the world and IB is feeling the brunt of it. We want to make sure you are heard…my team is doing research and we may not have the answers but we’ll take your questions and get back to you.”

Mayor Serge Dedina also spoke “My first priority is each one of you, to make sure you are listened to and supported. We’re doing everything we can to protect the health and safety.”

Anna Web, who owns a virtual business and is in charge of the subcommittee said she has been working seven days a week for the past week and a half creating flyers to be distributed to businesses around town and reaching others via email. To keep abreast of the latest news with daily updates email Webb to be included in her list, Another way to stay informed is to log on Facebook page, IB Mayor task force COVID-19. Webb plans on sending out a business survey with seven to 10 questions to business owners regarding their needs.

During the meeting a representative from the Small Business Association spoke about loans for businesses and non-profits. He recommended visiting Created in 1953, the U.S. Small Business Administration (SBA) continues to help small business owners and entrepreneurs pursue the American dream. The SBA is the only cabinet-level federal agency fully dedicated to small business and provides counseling, capital, and contracting expertise as the nation’s only go-to resource and voice for small businesses.

There are two types of loans available: Emergency Disaster and Economic Injury Disaster loans; and EIDL Advanced which offers up to $2 million per business and payments are over 30 years at 3.75 percent interest. Payment is deferred for the first year. The EIDL advanced loan can be up to $10,000 and is a quick disbursement of funds. He also recommended to call his SBA office 1-800-659-2955 and check out the website which also has a resource guide. By this Friday he expects Payroll Protection Plan or PPA to cover the cost of employees.

Attorney Gena Burns, who specializes in labor law, spoke of the Family First Coronavirus Response Act which takes effect on April 1. The CARES Act offers $600 more from federal government is addition to benefits.

Burns also spoke of the Family First Coronavirus Response Act. Through the act, the employees can receive two weeks (up to 80 hours) of paid sick leave at two-thirds the employee’s regular rate of pay because the employee is unable to work because of a bona fide need to care for an individual subject to quarantine (pursuant to Federal, State, or local government order or advice of a health care provider), or to care for a child (under 18 years of age) whose school or child care provider is closed or unavailable for reasons related to COVID-19, and/or the employee is experiencing a substantially similar condition as specified by the Secretary of Health and Human Services, in consultation with the Secretaries of the Treasury and Labor; and up to an additional 10 weeks of paid expanded family and medical leave at two-thirds the employee’s regular rate of pay where an employee, who has been employed for at least 30 calendar days, is unable to work due to a bona fide need for leave to care for a child whose school or child care provider is closed or unavailable for reasons related to COVID-19.

Questions were taken after the presentations.

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