News & Insights
Client Alert - COVID-19: Additional Relief for Businesses Impacted by COVID-19
October 29, 2020
By: Dawn M. Meyers
In addition to the SBA and the Federal Reserve's loan programs, many local governments and organizations are offering their forms of relief from the impacts to businesses from COVID-19.
For example, Broward County utilizes some of the CARES Act funds it received to offer grants to small businesses (20 employees or less) and non-profit organizations (25 employees or less). The grants are in the amounts of either $5000, $10,000, or $15,000 and are only available to be used for costs incurred due to the COVID-19 pandemic. The Application Portal for this program is expected to open on November 9, 2020. More information on this program can be found by here or calling (954) 357-6400.
In Miami-Dade and Monroe Counties, The Greater Miami Chamber of Commerce offers its own grant program to prevent layoffs or minimize the duration of unemployment. Under this program, small business and community-based organizations may be eligible, depending on size, for up to $10,000 to facilitate remote working, online sales, the purchasing of cleaning and sanitation supplies to maintain an on-site workforce, or other creative strategies to reduce or eliminate layoffs. This program does not cover wages, benefits, rent, or support services such as childcare. This program is a reimbursable grant program meaning the items must have already been purchased. Click here for more information on this program.
In these trying times, local programs can help fill specific needs, perhaps not fully addressed by federal and state programs.
The COVID-19 pandemic continues to create rapidly-changing issues for businesses, and government aid processes and measures designed to assist businesses may also change materially from when this Client Alert is issued. We therefore encourage you to monitor our website, review our future Client Alerts and generally remain alert for additional updates or modifications to laws and regulations.
