Scalise Discusses Coronavirus and Its Impact on Small Businesses

CHALMETTE – From the St. Bernard Chamber of Commerce:

Earlier today Congressman Steve Scalise held a conference call to discuss coronavirus and the impact on small businesses in Southeast Louisiana. Some of the ideas discussed were:
To avoid massive layoffs, the federal government is working on allowing payments for 15 days of sick leave with federal backing. The treasury secretary is working to figure out how to get this done so small businesses don’t have to front the money. He is working with the IRS for the possibility of having the money come from paid payroll taxes as an option.
A bank payment deferment program is in the works to help property owners of rental properties.
In the next round of legislation there may be some grant options, but there is nothing set in stone on that front. Representative Scalise’s office is looking to small businesses to make suggestions on how this can work from everyone. Input, suggestions, and industry specific questions can be directed to his office.

Economic relief that is available right now:
  • Louisiana is eligible now for the Economic Disaster Loan Program, designed to bring liquidity back into small businesses. Louisiana’s declarations should be up on their website today.
    • Loan maximum: $2 million
    • For profit interest rate: 3.75%
    • Non-profit interest rate: 2.75%
    • 30 year repayment based upon the specific loan application.
Reach out to the SBA office online. sba.gov/disaster
Website application process only.
Call- 1-800-659-2955 or email: disastercustomerservice@sba.gov
  • The Small Business Administration (SBA) may authorized deferral of payments up to 6 months on existing SBA loans. The lending institution which administers your loan will decide whether each borrower is eligible and for how long. Contact your lender for eligibility.
  • The Internal Revenue Service (IRS) is giving a 90 day reprieve on paying your taxes, but you still have to file on time.
Go to Scalise.house.gov for phone numbers, contact information, and newsletter distribution.
His offices are up and running and calls will be answered.
We’ll have more information for you as it becomes available.
Categories: Alerts