Resources for Members of the American Fraternal Alliance
Welcome! We are pleased to provide this resource to our friends at the American Fraternal Alliance!
The following is a brief overview with links to the most reliable sites for financial relief measures developed in response to the COVID-19 pandemic. Some describe new or changed Federal Laws, other are regulation changes made by federal agencies. These resources are applicable to employees, self-employed, contractors and small businesses. Check back often, more resources will be added as they are made available.
Families First Coronavirus Relief Act (FFCRA)
- Additional Paid Sick Leave for certain workers / Dept of Labor Site
- Up to 80 hours if full-time, adjusted for part-time
- 100% of regular rate if quarantined for COVID-19 or sick & seeking diagnosis
- 2/3 of regular rate if caring for someone quarantined with COVID-19
- 2/3 of regular rate if caring for a child whose school or childcare location has closed
- Up to 80 hours if full-time, adjusted for part-time
- Expanded FMLA / Dept of Labor Site
- Up to 10 weeks of paid leave
- Includes leave to care for a child at home
- 2/3 of regular rate to care for a child whose school or childcare location has closed
- Two week unpaid period can be overlapped with two week sick leave
Coronavirus Aid, Relief & Economic Security Act (CARES Act)
- Small Business Resource Guide / Small Business Guide to CARES Act
- Help with sorting through different options available to small businesses
- Economic Impact Payments / IRS Site
- $1,200 per adult ($2,400 if married filing joint)
- $500 per qualifying child
- Amounts reduced starting at $75,000 AGI based on 2019 (or 2018) tax return
- Social Security / Railroad Retirees do not need to file a return
- Expanded Unemployment Insurance / NASDAQ Site
- Process varies by state - visit your state's UI site
- One-week unpaid waiting period waived
- Includes job loss, reduced hours, W2 & 1099 workers and self-employed
- Two part benefit amount includes $600 additional weekly
SBA - Small Business Administration programs
- Paycheck Protection Program / SBA PPP Site
- For businesses with 500 or fewer employees
- Funds for paying up to 8 weeks of payroll costs
- Fully forgiven if 75% of the amount is used for payroll
- Apply to any SBA 7(a) lender
- Economic Injury Disaster Loans & Advances / SBA EIDL Site
- For small businesses, self-employed and independent contractors
- Loan advance up to $10,000
- Advance does not need to be repaid
- Can also apply for working capital loans up to $2Million
- For small businesses, self-employed and independent contractors
- SBA Debt Relief Measures / SBA Loan Relief Site
- New SBA 7(a) Loans - principal and interest will be paid by SBA if issued prior to 9/27/20
- Current SBA 7(a) Loans - principal and interest paid by SBA for six months
- New SBA 7(a) Loans - principal and interest will be paid by SBA if issued prior to 9/27/20
- SBA Express Bridge Loans / SBA Bridge Loan Site
- Fast access to up to $25k with reduced paperwork
- Will be repaid in full or part by EIDL Loan
- Connect with local SBA Office for details
Other Relief Measures
- Small Business Employee Retention Credit / Treasury Dept Site
- Refundable tax credit equal to 50% of up to $10,000 in wages
- Applies to businesses who are fully or partially suspended due to COVID-19
- Student Loan Debt Relief / Dept of Education Site
- Applies to Direct, FFEL and Perkins Loans (current or in default)
- Interest rate set to 0%
- Loans automatically put into Administrative Forbearance until 9/30/20
- Federal Tax Filing and Payment Relief / IRS Site
- Federal Tax filing deadline moved to July 15, 2020
- Installment Agreement payments suspended through 07/15/20
- Defaults, Liens/Levies & Collections suspended through 07/15/20
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