This discussion page is for COVID-19 business assistance information.

💼Dr. Linda Travelute with Travelute Leader and People Development has announced her phase 1/2 plan:

Let’s get you and your team back in the groove! Available for one-on-one and group/team coaching, training, workshops to reengage your workforce or team members. Ramp productivity back up with virtual or phone coaching, training, webinars, and keynotes so you team picks up the pace again. DISC and Leadership Assessments to create engaging team interactions. Your team can experience the Communication Game or Leadership Roundtable Experience on-site or virtual to get everyone back on the same page. Dr. Linda is certified by John Maxwell to bring you the very best from John’s arsenal of #1 Leadership & Personal Development materials.

💼Orange County Guidelines for Reopening Businesses 
The Orange County Economic Task Force has established seven criteria for businesses to reopen, including practicing social distancing and wearing protective face coverings. Click here for additional details on economic recovery. 

💼Applied for financial assistance yet? The South Florida District Office of the SBA scheduled a series of webinars for you to learn about the economic recovery programs available to you. There are several other options in addition to the PPP and EIDL programs. See below for the schedule and registration information.  Many of these programs have expanded opportunity for applicants including agriculture and other business categories.

COVID-19 Webinars (5/6 - 5/8)

The SBA South Florida District Office will host a series of Small Business Recovery webinars to provide the latest information on how the SBA is helping small businesses with their economic recovery from the effects of COVID-19. 

Wednesday, May 6, 2020
9 am – 11am
Join Microsoft Teams Meeting
202-765-1264; Conference ID - 834 063 591 

Wednesday, May 6, 2020
1pm – 3pm
Join Microsoft Teams Meeting
202-765-1264; Conference ID - 383 792 703

Thursday, May 7, 2020
9am – 11am
Join Microsoft Teams Meeting
202-765-1264; Conference ID - 834 063 591

Thursday, May 7, 2020 (Spanish) 
11am – 1pm
Join Microsoft Teams Meeting 
202-765-1264; Conference ID - 699 757 310

Thursday, May 7, 2020
1pm – 3pm
Join Microsoft Teams Meeting
202-765-1264; Conference ID - 383 792 703

Friday, May 8, 2020
9am – 11am
Join Microsoft Teams Meeting
202-765-1264; Conference ID - 834 063 591

Friday, May 8, 2020
1pm – 3pm
Join Microsoft Teams Meeting
202-765-1264; Conference ID - 383 792 703

💼Lake Nona Regional Chamber of Commerce -- Shield Your Family, Employees & Clients: As we adjust to our new business models, working at distance, and using new processing techniques, it is important that we address new issues that identity theft can bring. Join the Lake Nona Regional Chamber of Commerce at 10:00 a.m. on April 30 for a free Zoom Webinar brought to us through collaboration with our member Ray Rios, the Puerto Rican Chamber of Commerce of Central Florida and our friends at ID Shield. Use this link to join https://zoom.us/j/6131195054

🗃The Orlando Economic Partnership is offering a free service to small business owners in the seven-county Orlando region that need help in identifying and navigating the various financial assistance programs made available following the approval of the latest round of federal funding. The Business Recovery Assistance and Collaborative Engagement or BRACE program works by connecting business owners with resources that will be the most beneficial to them through the State of Florida and the U.S. Small Business Administration including $310 billion now available through the Paycheck Protection Program and $60 billion to the Small Business Administration’s fund for disaster loans.

 Here’s how the program works: 

1) Business owners fill out their BRACE form by going to BRACEOrlando.org  

2) Once a form is completed and submitted, a Partnership “ambassador” will contact the business utilizing basic information provided by the business in the form 

3)  Ambassadors will walk businesses through the variety of options available and connect the business with the appropriate agency 

Since the launch of the BRACE program last week, the Partnership has received more than 370 inquiries from businesses throughout the seven-county Orlando region, the majority of which have less than 10 employees. 

🗃The Partnership’s second Business Impact Survey reveals an increasing number of businesses are feeling negative effects from the economic shocks caused by the COVID-19 pandemic. Of the 214 Central Florida businesses surveyed, 87 percent indicated they have been negatively impacted by the global crisis. This is an increase of 13 percentage points from the first survey where 74 percent of businesses said the same. Similarly, 86 percent of companies surveyed are experiencing a decline in profits, up from 76 percent in survey one.

💰Loan Tips: As far as the PPP, most banks are only accepting applications from existing customers because the .5% loan interest for 2 years is actually less than the roughly 1% cost of funds for the bank to borrow the money initially. 75% of the funds borrowed from the PPP must be used on payroll costs in order for the loan to be considered for forgiveness. The rest can be used for things such as rent and utilities.

It's highly recommend that you document the use of the funds carefully and even open a separate bank account if you have employees.

You can apply for and accept funds from both the EIDL and PPP, however you cannot use these funds for the same purposes. If you obtain a PPP loan and an EIDL loan, it's recommended using the PPP for payroll costs as they can be forgiven. The PPP application is only open through June 30, but the EIDL is available through the end of the year.

💰LNRCC trusted contacts at the several area banks that offer the PPP loans from the SBA recommend that applicants use the online applications, if available, to help speed up the process. Here is a link where you can find the banks in your area that are participating in the SBA loan process: https://www.sba.gov/paycheckprotection/find

🗃 Orlando Economic Partnership Launches New Small Business Support Program

The Business Recovery Assistance and Collaborative Engagement (BRACE) program will connect business owners with resources to save their companies. To inform business owners of the programs they need to save their companies in this unprecedented time, the Orlando Economic Partnership (the Partnership) has launched a Business Recovery Assistance and Collaborative Engagement (BRACE) program. A communications and case management platform, BRACE provides a free service that helps identify and then connect small businesses to the resources they need most.

Small businesses in need of assistance should visit BRACEOrlando.org. Organizations and companies interested in partnering to provide financial relief services can also fill out a form at BRACEOrlando.org to request a follow up.

Interested parties who complete and submit their online form will have a BRACE Ambassador reach out to them within 48 hours after contact. Ambassadors are trained to triage needs, offer resources or provide referrals to partners with the right expertise. While some programs like the Florida Small Business Emergency BRIDGE Program and the Paycheck Protection Program are no longer accepting applications and have run out of funding, the Partnership is creating a database of those companies needing assistance and maintaining communication with them as the federal process ensues and potential local options become available.

The BRACE program will be available as long as it’s needed, and as emergency relief programs are available.

💼On Friday, April 24, 2020 from 2:00 - 3:00 PM, the East Orlando Chamber of Commerce will be hosting: Optimizing Your Job Search Process During COVID-19 & Beyond!

COVID-19 has hit the job market in Central Florida hard.  This session will help participants understand how they can optimize their job search, getting a great job, not just any job. COVID-19 has added uncertainty for a job search, and Roger Lear, President of OrlandoJobs.com will share strong fundamentals and resources to get noticed by employers. You will learn how to optimize your 2020 LinkedIn profile and your resume. To do this, Roger does a resume/LinkedIn makeover and explains each step along the way, with the result being an outstanding presentation of your credentials.

While optimization is critical, to get an interview, you must understand the 2020 job search. This session will take you on the job search journey and identify the pitfalls of everything that prevents you from hearing back from the employer, including applicant tracking systems, mobile applications, artificial intelligence, and social media communication. This presentation will change the way your Central Florida job search with one goal in mind; getting interviews. COVID-19 has uprooted so many from their once stable jobs, but as you will learn, many opportunities still exist and are why you must optimize today!

Registration Link: https://eocc.chambermaster.com/eventregistration/register/12649

Login information will be provided after registration is complete.

💼On Tuesday, April 21, 2020 from 9:00 - 10:00 AM, the East Orlando Chamber of Commerce will be hosting: Financial Survival & Recovery Prep for the Long Haul Panel Discussion. Join to speak with some financial experts to discuss what to do now and over the next eight months to help you survive the financial issues resulting from COVID-19. 

Panel includes: 

  • Kyle Davis, Integrity Financial Group
  • Sam Fragale, Edward Jones
  • Tanya Leonce, True Books LLC

Registration Link: https://eocc.chambermaster.com/eventregistration/register/12647

*GoToMeeting login information will be provided after registration is complete.

💰If you are self-employed or an independent contractor, your PPP loan application will go live April 10, 2020, according to the SBA. PPP loans are processed through local bankers that participate in the SBA program. Here is a link where you can locate participating banks.

📼When you or others are SQUEEZED in crisis it gets UGLY! Here's how to deal with that in a beautiful way. Watch the short video here. Courtesy of Dr. Linda Travelute.

 💲 Paycheck Protection Program

  • The Paycheck Protection Program loan can be up to 100% forgiven.
  • It is not retroactive. You must apply and receive approval to qualify during the program period.
  • Though this program is Federally funded, the loan is provided direct from an SBA lender. Meaning an FDIC bank or other Federally guaranteed lender.
  • The program opens for most companies Friday, April 3 but you can start completing the form now and contact your bank for an appointment. Sole proprietors and contractors (1099 filers) may apply Friday, April 10.
  • The program ends June 30.
  • To qualify for 100% forgiveness, you must maintain 100% of your employees. Forgiveness can be related to the percentage of employees retained on payroll.
  • You can rehire employees already laid-off.
  • The loan can also be applied to general operating expenses.
  • Retaining your present employees makes better fiscal sense since you will not need to train new employees when this is over.
  • Since detailed reporting will be required at the end of the program, we recommend keeping the loan proceeds in a separate account for more accurate reporting.
  • This program cannot be used for expansion at the moment.

💲Emergency Injury Disaster Loan

  • The Emergency Injury Disaster Loan program is available for most businesses with a grant amount of $10,000. You can apply here: https://www.sba.gov/funding-programs/disaster-assistance.
  • If approved, the proceeds will be paid direct to your bank account from the IRS.
  • This program cannot be used for expansion.

💲Small Business Bridge Loan (up to $100,000)

💵 SBA Disaster Relief Loan program:

📢 Public Service Announcement: LNRCC Business Resources

📢 Public Service Announcement: Leading During Crisis

📢 Public Service Announcement: Staying Effective while Working at Home

 

Do you have information we should share? Let us know.