COVID-19 RESOURCES - Northwest Oklahoma City Chamber , OK

Go
Pages

Members

Categories

Quicklinks

Events

- MEMBER DIRECTORY
- JOIN US

COVID-19 RESOURCES

- NWOKC Chamber's Pandemic Events Policy
BUSINESS RESOURCES
- NEW:PPP FORGIVENESS GUIDE - What business need to know about the Paycheck Protection Program's loan forgiveness process.
  source: US Chamber of Commerce
- NEW PAYCHECK PROTECTION PROGRAM LOAN FORGIVENESS APPLICATION
  source - US Treasury / Small Business Administration
- OKLAHOMA'S OPEN UP AND RECOVER SAFELY PLAN
  source: OK Department of Commerce published April 22, 2020
- REOPENING BUSINESS DIGITAL RESOURCES CENTER
  Includes Sector Specific Guidance, Additional Tools & Resources
  source: US Chamber of Commerce
- SMALL BUSINESS REOPENING PLAYBOOK
  source: US Chamber of Commerce
MANDATORY COMPLIANCE TO POST: Ready to print 8.5 x 11 pdf
- Families First Coronavirus Response Act (FFCRA)
  Paid Sick Leave and Expanded Medical Leave
  source: US Department of Labor: Wage & Hour Division
  Note: If employees are on leave or teleworking, this document should be emailed or mailed to all.
  Please maintain records of delivery for compliance verification.
- FFCRA Employee Paid Leave Rights Summary Explanation
  source: US Department of Labor: Wage & Hour Division
- Families First Coronavirus Response Act : Questions & Answers
  source: US Department of Labor: Wage & Hour Division
- Employer Guide: Coronavirus Paid Leave Programs
  source: US Chamber of Commerce
- City of Oklahoma City Small Business Continuity Program
  source: Alliance for Economic Development of Oklahoma City
- Employment, Jobs & COVID-19 - info for Job Seekers & Employers
  source: Oklahoma Works - part of the AmercanJobCenter network
- Employee Retention Tax Credit for Businesses impacted by COVID-19
  source: Internal Revenue Service
- IRS Form 7200 - "Advance Payment of Employer Credits Due to COVID-19
  source: Internal Revenue Service
- Paycheck Protection Program (PPP)
  source: US Small Business Administration
- PPP information Sheet for Borrowers
- PPP Information Sheet for Lenders
- Paycheck Protection Program FAQs (updated 4/8/2020)
  source: US Department of Treasury
- Economic Injury Disaster Loans and Loan Application
  source: US Small Business Administration
- Guide to SBA's Economic Injury Disaster Loans
  source: US Chamber of Commerce
- CORONAVIRUS EMERGENCY LOANS: Small Business Guide & Checklist
  source: US Chamber of Commerce
- Guidance for Businesses & Employers to plan and respond to COVID-19
  source: Centers for Disease Control & Prevention
- Cleaning & Disinfecting Your Facility
  source: Centers for Disease Control & Prevention
- Small Business Owner's Guide to the Coronavirus Aid, Relief & Economic Security (CARES) Act
  source: US Senate Committee on Small Business & Entrepreneurship
- CARES Act - Unemployment Insurance Questions Answered
  source: US House of Representatives Committee on Ways and Means
Quick Link Resources:

Oklahoma State Department of Health Daily Update

Oklahoma City-County Health Department

Current Proclamation from Oklahoma City Mayor David Holt
Phase Three re-opening, May 29, 2020
SBA Business Briefing recorded April 9, 2020
Business Briefing on the Families First Coronavirus Response Act (FFCRA)
SMALL BUSINESS PAYCHECK PROTECTION PROGRAM

The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.

Fully Forgiven
Funds are provided in the form of loans that will be fully forgiven when used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.

Must Keep Employees on the Payroll—or Rehire Quickly
Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.

All Small Businesses Eligible
Small businesses with 500 or fewer employees—including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors— are eligible. Businesses with more than 500 employees are eligible in certain industries.

When to Apply
Starting April 3, 2020, small businesses and sole proprietorships can apply. Starting April 10, 2020, independent contractors and self-employed individuals can apply. We encourage you to apply as quickly as you can because there is a funding cap.

How to Apply
You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating. All loans will have the same terms regardless of lender or borrower. A list of participating lenders as well as additional information and full terms can be found at www.sba.gov.

The Paycheck Protection Program is implemented by the Small Business Administration with support from the Department of the Treasury. Lenders should also visit www.sba.gov or www.coronavirus.gov for more information.