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Disaster Relief Resources and Information

March 21st, 2020 • Tax & Commercial Services

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Nicole Manning

As we are all aware, there are a lot of implications surrounding COVID-19. Not only has this affected each and every one of us in our daily lives, but the response and actions being taken to help reduce the spread of the virus is having a major impact on business. As there is news being released every day on both a local and national level, Melanson Heath is here to continue to be your business partner; we will get through this together.

Below are a number of great resources and information that can help you with your next steps. We will continue to keep you updated on the most pertinent information as it becomes available.

Tax Filing Deferment
On Friday, March 20, 2020, Treasury Secretary Steven Mnuchin announced that Tax Day is being moved from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties. They are still encouraging taxpayers who may have tax refunds to file now to get your money to help during this time. Read more here: https://www.irs.gov/newsroom/payment-deadline-extended-to-july-15-2020

Tax Payment Deferment
On Tuesday, March 17, 2020, Treasury Secretary Steven Mnuchin announced that those who owe for tax payments on April 15, 2020, up to $1 million per individual, can be deferred for 90 days, until July 15, 2020, with no interest or penalties. Read more here: https://home.treasury.gov/news/press-releases/sm948

Small Business Administration Economic Injury Disaster Loan Program
This program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. Small business owners and nonprofits in the following states are currently eligible to apply for a low-interest loan due to COVID-19:
California, Connecticut, Delaware, the District of Columbia, Florida, Georgia, Indiana, Maine, Massachusetts, Montana, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Rhode Island, Utah, and Washington
Learn more: https://www.sba.gov/

SCORE Coronavirus Business Resources
The nation’s largest network of volunteer, expert business mentors provide free business mentoring and education. You can also check out your local SCORE chapter for additional information. Learn more: https://www.score.org/

Bank of America Additional Support
Learn more about relief that Bank of America is granting, on request, from bank fees or payments on credit cards, auto, mortgage, or small business loans:
https://newsroom.bankofamerica.com/press-releases/consumer-banking/bank-america-announces-additional-support-consumer-and-small

Centers for Disease Control Interim Guidance for Businesses and Employers
Guidelines for employers to helps plan, prepare, and respond to COVID-19: https://www.cdc.gov/coronavirus/2019-ncov/community/guidance-business-response.html

US Department of Labor
The Wage and Hour Division provides information on common issues employers and employees face when responding to influenza, pandemics, or other public health emergencies, and their effects on wages and hours worked under the Fair Labor Standards Act and job-protected leave under the Family and Medical Leave Act. Learn more: https://www.dol.gov/agencies/whd/flsa/pandemic

STATE SPECIFIC RESOURCES

New Hampshire:

NH Employment Security
File for unemployment benefits here: https://www.nhes.nh.gov/

NH Department of Business and Economic Affairs
The BEA has put together an extensive list of resources and contacts in response to the Governor’s declaration of a state of emergency for NH. Learn more: https://www.nheconomy.com/covid19

NH Works
The Office of Workforce Opportunity is charged with the oversight of the NH Works/American Job Center System and its programs and services offered. Their offices are currently closed, but they are providing links to information and online services they currently have available (including filing for unemployment). Learn more: https://www.nhworks.org/

NH Business Finance Authority
The CAP program provides banks the ability to finance small businesses and nonprofits across the state. The CAP program provides a 100% guarantee on term loans and lines of credit up to $200,000. Learn more: https://nhbfa.com/loans/cap/

Temporary Loans help companies access capital for short-term needs. The BFA offers a flexible direct lending product designed to bridge the gap in an amount of up to $2,000,000. Learn more: https://nhbfa.com/loans/temporaryloans/

Massachusetts:

Department of Unemployment Assistance
File for unemployment benefits here: https://www.mass.gov/orgs/department-of-unemployment-assistance

MA Small Business Recovery Loan Fund
This fund provides emergency capital up to $75,000 to MA-based businesses impacted by COVID-19 with under 50 full and part-time employees, including nonprofits. Learn more: https://www.mass.gov/info-details/covid-19-resources-and-guidance-for-businesses#small-business-recovery-loan-fund-

MA Rapid Response Team/Layoff Aversion Resources
The Rapid Response Team works closely with companies to avert layoffs and keep a skilled workforce engaged in the existing regional economy or industry. Learn more: https://www.mass.gov/service-details/rapid-response-layoff-aversion

MA Small Business Development Center Network
Provides resources to federal, state, and local financial programs. Learn more: https://www.msbdc.org/wmass/financing.html

Restaurant Strong Fund
The Greg Hill Foundation along with Sam Adams is providing grants of $1,000 to full-time restaurant workers in MA impacted by COVID-19 closures. Learn more: https://www.thegreghillfoundation.org/restaurantstrong/

Maine:

Bureau of Employment Services
File for unemployment benefits here: https://www.maine.gov/labor/bes/index.shtml

ME Small Business Development Center Network
Provides resources to federal, state, and local financial programs. Learn more: https://www.mainesbdc.org/mitigate-coronavirus-impact-on-your-business/

Finance Authority of Maine (FAME)
FAME is partnering with the US SBA and local Maine lenders to offer special, limited-time loans and loan insurance to eligible Maine businesses affected by COVID-19. Learn more: https://www.famemaine.com/business/programs/covid-19-relief-loan-programs/

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