COVID-19

Second Stimulus For Business

Tuesday, January 26, 2021

Supporting Our Local and Small Businesses during COVID-19

As we continue to adjust to the ever-evolving mitigation efforts imposed by local, state, and federal authorities to fight the coronavirus (COVID-19) pandemic and keep us safe, our society continues to work together to uplift and support each other.

The Pharr EDC has been monitoring the situation closely and working with all our partners and businesses to provide resources, assistance, and guidance during this time. Our community spirit is strong and resilient! Pharr, we are in this together.

While our businesses have modified their dining/shopping and in some cases limit their workforce, they have found creative ways to remain open, making changes to operations by now providing online or over the phone orders, curbside or drive through pick-up, and delivery options. This spirit of entrepreneurship and community is strong throughout Pharr and we want to remind our businesses that we are here for you and we thank you for the incredibly valuable service you continue to provide to our residents.

Pharr, we are in this together and we will survive this together!

Victor Perez
Pharr Economic Development Corporation
Executive Director

Texas Workforce Commission Initiatives

The Texas Workforce Commission continues to offer Texas employers their full support. Be sure to visit www.twc.texas.gov for important resources including legal questions regarding work from home policies to resources for loans, they are here to answer your questions and help ensure things go as smoothly as possible.

Small Business Administration Loans

The U.S. Small Business Administration (SBA) has increased its funding pool from $20 billion to $50 billion in response to the virus.

It is currently offering low-interest disaster loans of up to $2 million for small businesses suffering losses due to the coronavirus. These loans, per the SBA, can be used to pay debts and cover payroll and other bills. You can apply online or by reaching out directly to your local Small Business Development Center (SBDC) and your SBA district office. Visit www.sba.gov for more information.

Tax Deferrals

Treasury Secretary Steve Mnuchin announced that individuals and many small businesses will have until July 15 to pay the income tax they owe up to $1 million. This will provide some relief and allow small businesses to free up some cash to pay other more pressing bills. Now may also be the time to talk to your CPA, or other tax professionals, to see if there are other tax credits you can take advantage of or additional things to claim.

Private Loans and Grants

Some lenders and companies are offering discounted businesses loans and grants during the coronavirus outbreak. Additionally, check with your business’s bank about your options. Citi, for example, announced that it will waive monthly service fees and remote deposit capture, as well as penalties for early CD withdrawal. Many other lenders have joined in providing relief to businesses by offering similar options. Be sure to check with your local lender or bank to see what options they may have for your business.

While it’s normal to focus on what is happening right now, especially in light of the constantly changing situation, we encourage our local and small business owners to spend this time planning and preparing how to rebuild once this is all over. We are a resilient community and we must maintain a positive focus.

Presentations

Economic Injury Disaster Loans (EIDL) and Loan Advance

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CARES Act

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COVID-19 Resource Guide

Business

Healthcare

Communities & Individuals

COVID-19: Background & Additional Information

The President’s Coronavirus Guidelines for America

For background and the most up-to-date information, please visit the Centers for Disease Control and Prevention Coronavirus Disease 2019 website: HERE

U.S. Department of Health and Human Services:

Centers for Disease Control and Prevention:

U.S. Small Business Administration

What you should know:

Situation Updates:

Information for Businesses:

Information for Travel and Transportation:

Information for Healthcare Providers, First Responders, and Research Facilities:

Information for Law Enforcement:

Information for Families and Households:

Information for Schools and Childcare Providers:

Information for Community Events and Gatherings:

Information for Military Response:

Agency Resources and Information:

Providing Financial Relief

President Donald J. Trump is working to provide financial relief for small businesses harmed by the coronavirus outbreak.

“We’re deeply committed to ensuring that small businesses have the support they require.” – President Donald J. Trump

White House COVID-19 Updates

  • Factsheet: President Trump is Committed to Supporting Small Businesses Impacted by the Coronavirus (HERE)
  • White House Announces New Partnership to Unleash U.S. Supercomputing Resources to Fight COVID-19 (HERE)
  • Vice President Pence Holds Video Teleconference with Governors on the Partnership to Prepare, Mitigate and Respond to COVID-19 (READOUT, REMARKS)
  • Vice President Pence Remarks with Press Gaggle (HERE)
  • Memorandum on Providing Federal Support for Governors’ Use of the National Guard to Respond to COVID-19 (HERE)
  • 1600 Daily: Americans need help. Democrats must stop blocking it. (HERE)

List: 74 Actions Taken by President Trump to Fight Virus and Bolster Economy (HERE)

  • In less than a week, the Trump administration has greatly expanded the actions it’s taken to fight the coronavirus and boost the economy, according to its latest tally of “response efforts.”

Treasury and Federal Reserve Board Expand Measures to Enhance Liquidity and Flow of Credit to American Workers, Households and Businesses (HERE)

  • The spread of coronavirus has disrupted economic activity and put significant liquidity pressure on U.S. businesses. To immediately enhance liquidity and support American workers, households, and businesses through this challenging period, Secretary Mnuchin today authorized the expansion of two recently launched facilities and the establishment of three new facilities to provide liquidity to the financial system pursuant to section 13(3) of the Federal Reserve Act.

Carranza Implements Automatic Deferment on Existing SBA Disaster Loans Through End of 2020 (HERE)

  • Today, SBA Administrator Jovita Carranza announced changes to help borrowers still paying back SBA loans from previous disasters. By making this change, deferments through December 31, 2020, will be automatic. Now, borrowers of home and business disaster loans do not have to contact SBA to request deferment.

Peter Navarro: Coronavirus – How businesses are stepping up, collaborating with Trump administration (HERE)

  • President Trump has promised to unite the full force of the federal government with the full power of American enterprise to respond to the China Wuhan virus – and the response from the private sector has been overwhelming.

DHS Announcement: Important Message on Essential Financial Services Sector Workers – From U.S. Treasury Secretary Mnuchin

  • Consistent with the need to ensure access for essential financial services workers, Secretary Mnuchin issued the attached memorandum.  This memorandum points to guidelines from the President and the Department of Homeland Security, which provides guidance to State and local officials as they work to protect their communities while ensuring continuity of critical functions to public health and safety, as well as economic and national security. Everyone should follow guidance from the Centers for Disease Control and Prevention as well as State and local officials regarding strategies to limit disease spread. For further information please see the Treasury memo and the CISA memo.

Surgeon General: Delay elective medical, dental procedures to help us fight coronavirus (HERE)

  • The lives of many, especially our most vulnerable, are at stake. We can win this war if we all commit to taking the right actions for our country.

OCR Issues Guidance on Telehealth Remote Communications Following Its Notification of Enforcement Discretion (HERE)

  • The Notification, issued earlier this week, announced, effective immediately, that OCR is exercising its enforcement discretion to not impose penalties for HIPAA violations against healthcare providers in connection with their good faith provision of telehealth using communication technologies during the COVID-19 nationwide public health emergency.

HHS Funds Phase 2/3 Clinical Trial for Potential Treatment for COVID-19 (HERE)

  • An antibody medicine being evaluated to treat severe cases of COVID-19 will receive additional support from the U.S. Department of Health and Human Services’ Office of the Assistant Secretary for Preparedness and Response under an existing partnership with Regeneron Pharmaceuticals of Tarrytown, New York.

FDA Continues to Facilitate Access to Crucial Medical Products, Including Ventilators (HERE)

  • Today, the FDA took significant action to help increase the availability of ventilators and accessories, as well as other respiratory devices, during the COVID-19 pandemic to support patients with respiratory failure or difficulty breathing.

FDA Provides Update on Patient Access to Certain REMS Drugs During COVID-19 Public Health Emergency (HERE)

  • Today, as part of the FDA’s ongoing efforts to address COVID-19, the agency issued a new guidance to sponsors and healthcare providers regarding certain Risk Evaluation and Mitigation Strategy (REMS)-required testing during this time.

CMS Announces Findings at Kirkland Nursing Home and New Targeted Plan for Healthcare Facility Inspections in light of COVID-19 (HERE)

  • Today, CMS is announcing the preliminary results of a recent inspection of the Life Care Center nursing home in Kirkland, Washington – the epicenter of the COVID-19 outbreak in that state.

FEMA COVID-19 Pandemic: Public Assistance Simplified Application (HERE)

  • The Fact Sheet supplements Fact Sheet: Coronavirus Pandemic Emergency Protective Measures and provides an overview of the FEMA Public Assistance application process for recipients and applicants requesting reimbursement related to federal emergency and major disaster declarations for Coronavirus.

DHS Measures on the Border to Limit the Further Spread of Coronavirus (HERE)

  • In order to limit the further spread of coronavirus, the U.S. has reached agreements with both Canada and Mexico to limit all non-essential travel across borders. Working closely and collaboratively, the Department of Homeland Security is part of a North American approach to stop the spread of the virus.

Veterans’ GI Bill Benefits to Continue During COVID-19 Pandemic (HERE)

  • President Trump signed into law S. 3503, March 21, which will enable the Department of Veterans Affairs to continue providing the same level of education benefits to students having to take courses online due to the coronavirus outbreak.

2020 Census Operation Adjustments Due to COVID-19 (HERE)

  • The U.S. Census Bureau is adapting or delaying some of its operations to protect the health and safety of staff and the public.

DOJ Files Its First Enforcement Action Against COVID-19 Fraud (HERE)

  • The enforcement action filed today in Austin against operators of a fraudulent website follows Attorney General William Barr’s recent direction for the department to prioritize the detection, investigation, and prosecution of illegal conduct related to the pandemic.

Secretary DeVos Published New Resources on Accessibility and Distance Learning Options (HERE)

  • Secretary DeVos announced today the Department has released new information clarifying that federal law should not be used to prevent schools from offering distance learning opportunities to all students, including students with disabilities.

State: Khamenei’s Lies About the Wuhan Virus Put Lives at Risk (HERE)

  • Supreme Leader Khamenei’s fabrications regarding the Wuhan Virus are dangerous and they put Iranians and people around the world at greater risk. Facts matter.

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