VIRTUAL SPARK Tank sessions & Chat Notes Archive

COVID-19 has created a lot of new challenges for small businesses and entrepreneurs…

This is a strange time for us. And, as a small business owner, the COVID-19 crisis can be a real problem. In our role as supporters of small businesses and entrepreneurs, we want to help. Since our normal Thursday morning Spark Tanks at the Dunedin Chamber of Commerce have been canceled, continued with virtual Spark Tank (as of March 19). In them, we have checked in, offered experts working within the resources being discussed for Smal Businesses and Entrepreneurs.

Resources

• How to Get COVID-19 Relief – https://bk.businessgrowthsimplified.com/how-to-get-corona-virus-crisis-financial-relief/
• Excel Profit/Loss by Carl Schrader: Excel File
  
• SBA (Small Business Association) Expanded access to U.S. Small Business Administration Economic Injury Disaster Loans: As part of its disaster assistance program, the SBA is providing working capital loans of up to $2 million to small businesses and nonprofits affected by the coronavirus. These loans carry an interest rate of 3.75% for small businesses and 2.75% for nonprofits. Loan repayment terms vary by applicant, up to a maximum of 30 years. The stimulus updated the program so that sole proprietors and businesses with fewer than 500 employees qualify, and applicants don’t need to provide a personal guarantee on loans under $200,000. Payments can also be deferred for up to four years.
  Emergency grant of $10,000 to SBA Economic Injury Disaster Loan applicants: Even if your business is denied a loan, you can still access this grant, which can be used to provide employee sick leave, maintain payroll or meet other needs like paying rent.: https://www.sba.gov/
• Federal Income Tax Filing and Payment Deadline Extension:  The federal tax return filing deadline is now July 15, 2020. For tax payments of up to $10 million, the IRS has also extended the deadline for both individuals and businesses to July 15, 2020. Estimated tax payments for 2020 originally due on April 15 will now be due on July 15. Check with your state tax agency to find out if your business has more time to file or more time to pay state and local taxes this year as a result of the coronavirus. Several states have already aligned their tax filing and payment deadlines with the new federal deadline. States also may waive or reduce penalties on late tax payments.
  The U.S. Small Business Administration (SBA) coronavirus resource page provides a list of relief programs, and it offers guidance to small business owners during this crisis.
• Payment Protection Program (PPP) The U.S. Small Business Administration (SBA) will guarantee loans with terms of up to 10 years and interest rates of up to 4% to businesses with fewer than 500 employees. Businesses can qualify for loans of up to $10 million, and the loans will be provided by lenders including banks and credit unions. Eligible businesses can get loan deferment for six months to a year, and the loan may be forgiven if the businesses maintains its payroll for eight weeks at employees’ normal salary levels.: SBA.Gov
• Florida Disaster Loan: https://floridadisasterloan.org/
• SBDC Resource File (PDF)
• Visit StP-C Travel Updates: https://www.visitstpeteclearwater.com/
• Unemployment: https://www.careeronestop.org/
• COVID-19 Cases: https://floridahealthcovid19.gov/
• Government Assistance Resource Page through PPA: https://www.ppa.com/inittogether/government-assistance
  
• FL Department of Economic Opportunity (Solopreneurs): https://connect.myflorida.com
• Employ Florida: https://www.employflorida.com/
• Dunedin Cares:  https://dunedincares.org/need-food%3F
• Dino’s Resource Page – Updated Regularly
• Applying CARES Act – Information page