Small Business Resources

While our world enters into uncharted waters to control the COVID-19 outbreak, District 1 has faced a wave of uncertainty. Small business owners who suffered in the 2019 floods are now faced with employee layoffs and limits on gathering sizes. Our small businesses are the heartbeat of our communities. During these trying times, we need to support our small businesses more than ever. There are endless opportunities to help out our local businesses, from ordering takeout to purchasing gift cards. This week, my column is dedicated to our business owners and employees impacted by COVID-19.

Last week, the Federal CARES Act was passed and signed into law. It ensures that every American over the age of 16 will receive a check of $1,200 if their annual income is less than $75,000 per year, and couples whose income is less than $150,000 per year can each receive a $1,200 check. This money will not be subject to income taxes. The CARES Act also provided a $600 per week supplement to state unemployment benefits for each worker impacted by COVID-19. Given that Nebraska’s current cap on unemployment benefits is $440 per week, this is a substantial increase for our impacted workers. The state and federal deadlines to file income tax returns have been pushed to July 15.

The Small Business Administration (SBA) has made extensive assistance available to small businesses. The Economic Injury Disaster Loan program is a low-interest loan. For more information, visit SBA.gov/Disaster. The SBA’s Economic Injury Disaster Loan 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 due to the Coronavirus. 

SBA Express Bridge Loans allow small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. This loan can bridge the gap while applying for a direct SBA Economic Injury Disaster Loan. 

The Centers for Disease Control and Prevention (CDC) and SBA have also partnered to provide recommendations for employers to minimize risk to their employees and customers. These recommendations fall in line with other recommendations distributed by the CDC and include recommendations for businesses to implement safe social distancing practices when possible, emphasize the importance of hygiene and proper protocol of covering sneezes and coughs, sterilizing surfaces, and ensure that sick employees are encouraged, if not required, to stay home. 

This is a non-exhaustive list of just a few of the hundreds of resources available to our small business owners and their employees. I’d encourage you to visit SBA.gov or the Nebraska Department of Labor’s website for more information and resources. Times are tough right now, but rest assured, you’re not in this alone.

Next week’s column will be dedicated to our healthcare workers and those on the front lines to contain the outbreak in our state. In the meantime, please, if you’re not already doing so, follow the CDC guidelines for social distancing and limit gatherings to ten people or less. Postpone or cancel non-essential gatherings or travel. The health of our region depends on each of us to be responsible and minimize risk.

As always, I welcome your input on issues important to you. Follow along on my Facebook and Twitter pages, both entitled “Senator Julie Slama” for more updates, or contact me directly at Senator Julie Slama, District 1 State Capitol, PO Box 94604, Lincoln, NE 68509-4604; telephone 402-471-2733; email: jslama@leg.ne.gov.