Coronavirus Business & Employment Resources


LATEST COVID-19 STIMULUS PACKAGE INFORMATION

*Information below has been provided by the Idaho Department of Commerce.

After months of negotiation, Congress recently approved and the President signed a new COVID relief package. The new package includes additional funding for the Paycheck Protection Program (PPP) for small businesses. The new package also provides additional funding for businesses that did not receive PPP money initially and provisions allowing businesses a second chance for PPP funds.
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Key Provisions to be aware of:

  • Provides $284 billion for PPP and extends the application deadline to March 31, 2021.
  • Businesses with 300 employees or less and a 25% decline in revenue in any quarter in 2020 compared to the same quarter in 2019 are eligible for a second round of forgivable PPP loans of up to $2 million.
  • Expands eligibility to both nonprofit and quasi-governmental with 300 employees or less (full time and part-time combined), as long as no more than 15% of their activities consist of lobbying activities and they did not spend more than $1 million on lobbying in 2019.
  • $35 billion is set aside for first-time PPP loan recipients.
  • Expands the list of PPP-covered expenses to the cost of supplies and inventory, software and cloud-based services, uninsured damages from public disturbances in 2020, and measures to address COVID-19 health and safety guidelines, like PPE expenses, in addition to payroll, mortgage debt interest, rent, and utilities.
  • Allows borrowers to deduct expenses covered by PPP loans from their taxes.
  • Continues to require at least 60% of loan proceeds to be used on payroll, capping covered non-payroll expenses to 40% of the loan.
  • A business that was not in operation on February 15, 2020 is not be eligible for a PPP loan.
  • Seasonal employers may calculate their maximum loan amount based on a 12-week period beginning February 15, 2019, through February 15, 2020.
  • Farmers and ranchers in operation as of February 15, 2020, may utilize their gross income from 2019 when calculating their maximum loan amount.

What you can do now:

  • Businesses should check to make sure their financial institution is doing PPP #2 loans. If yes, ask to be alerted when the loan portal opens up and ask what information the bank/credit union may anticipate needing. Many bank executives have been prepping their lending teams for another round of PPP and some may likely get wind of SBA final rules before publicly available. If no, reach out to banks or credit unions that are willing to process PPP loans for new customers. Save valuable time by opening up a business account now. If unsure where to start, try the SBA list of approved PPP providers.
For more information, the US Chamber of Commerce has a nice summary of the latest stimulus and PPP information, as does the US Travel Association.

Idaho Rebounds


IDAHO REBOUNDS:  OUR PATH TO PROSPERITY

Governor Brad Little launched “Idaho Rebounds: Our Path to Prosperity,” a four-phase, data-driven approach to keeping Idaho’s economy open safely. The approach reduces the risk of COVID-19 to Idaho’s most vulnerable population and preserves capacity in our healthcare system, while opening up businesses safely. 

STAGES OF REOPENING
Includes protocols for general businesses and more specific protocols for daycares, youth activities, places of worship, restaurants, close contact services, and others.

BUSINESS SPECIFIC PROTOCOLS FOR OPENING
Businesses should have operational plans in place to mitigate the risk of spreading COVID-19. Included here are protocols for specific businesses and activities.

CENTRAL DISTRICT HEALTH BUSINESS REOPENING INFORMATION
Review the Central District Health Districts guidance, recommendations, and requirements for businesses located in Ada County.

BUSINESS COVID-19 RESOURCES AND FINANCIAL ASSISTANCE

FEDERAL RESOURCES FOR BUSINESSES 
The official federal resource website for U.S. small businesses affected by COVID-19 where you can view relevant federal agency resources, access the latest news, and search for a Small Business Advisor near you.
NEW EMPLOYER PAID LEAVE REQUIREMENTS (FFCRA)
Details on the The Families First Coronavirus Response Act (FFCRA or Act) which requires certain employers to provide their employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19.
SBA EMERGENCY ASSISTANCE, PPP, AND OTHER COVID-19 RELIEF OPTIONS
For resources from the SBA on their Economic Injury Disaster Loan program, Payment Protection Program (PPP), Express Bridge Loans and 7(a) Loan options.
PPP QUICK REFERENCE CHART
The Idaho SBDC created a helpful chart for quick PPP Loan information, including forgiveness timeline and rules, eligible costs and auditing, and a documents guide.
PPP LOAN FORGIVENESS APPLICATION
PPP Loan Forgiveness Application and detailed instructions for the application from the SBA and Treasury.
IDAHO DEPARTMENT OF LABOR COVID-19 RESOURCES
The Idaho Department of Labor recognizes the impact of the coronavirus on employers and workers, and they are available to assist. They continue to offer services online and by phone, and they update their web pages with resources and information for you as it becomes available.
TELECOMMUNICATION AND INTERNET ASSISTANCE OPTIONS
Assistance and resources from internet service providers and telecom companies across Idaho.
IDAHO TRAVEL INDUSTRY COVID-19 RESOURCES
Resources and information for the Idaho travel and tourism industry.
IDAHO SBDC COVID-19 RESOURCES
The Idaho Small Business Development Center is available to work with your business, answer questions, provide resources, and advocating for your business during through this period.
IDAHO WOMEN'S BUSINESS CENTER COVID-19 RESOURCES
The Idaho Women’s Business Center is providing resources and links to help as your business plans next steps.
IDAHO TECHHELP COVID-19 INFORMATION
TechHelp is committed to protecting manufacturing clients with the latest information, resources, and assistance.