NEWS & EVENTS

Senator Casey’s Office Offers COVID-19 Resources

April 9, 2020

Our office will continue to provide you the most timely and accurate information that we receive from the United States House of Representatives and Senate. As updates are available, we will continue to monitor them and forward updated information to our members.

Please continue in keeping your family, employees and businesses safe.

As we navigate through this uncertain time we thought it would be useful for our members to have additional information on the programs provided by the CARES Act.

This packet contains information that small business owners will find useful in navigating the resources available as a result of the COVID-19 virus. The packet can be viewed at the following link: https://files.constantcontact.com/5061598a001/6a632e86-6164-4461-98d8-eede48a7ead9.pdf.

The Paycheck Protection Program provides small businesses with zero-fee loans of up to $10 million to cover payroll and other operating expenses. Up to 8 weeks of payroll, mortgage interest, rent, and utility costs can be forgiven. Payments on principal and interest are deferred for one year.

Small businesses and other eligible entities will be able to apply if they were harmed by COVID-19 between February 15, 2020 and June 30, 2020. This program would be retroactive to February 15, 2020, in order to help bring workers who may have already been laid off back onto payrolls.
Loans are available through June 30, 2020. More information on this program can be found at
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp#section-header-0.

The CARES Act creates a new emergency grant of $10,000 for small businesses that apply for an SBA economic injury disaster loan (EIDL). EIDLs are loans up to $2 million with interest rates of 3.75% for businesses and 2.75% for nonprofits, and principal and interest payments deferred up to 4 years. The EIDL loans may be used to pay for expenses that could have been met had the disaster not happened, including payroll and other operating expenses. The EIDL grant does not need to be
repaid even if the applicant is denied an EIDL. A small business may apply for an EIDL grant and a Paycheck Protection loan. The EIDL grant will be subtracted from the amount of the Paycheck Protection loan that is forgivable. More information on this program can be found at:
https://www.sba.gov/funding-programs/disaster-assistance.
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This packet includes information on the unemployment insurance provided by the Act. It also includes information on the Recovery Rebates that are being processed by the IRS as well as additional information on Sick Leave and Family Leave that may be useful to both employers and employees.

https://files.constantcontact.com/5061598a001/1a3cd28e-83f1-4a32-bfc9-24502eeceda2.pdf.
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The information contained in this link provides additional information on the funding details of the CARES Act. This packet provides more details on the specifics of the package that was recently passed by the US Congress and Senate and then signed by the President. We felt that this information may useful to you throughout the remainder of the year.

https://files.constantcontact.com/5061598a001/4cb0e193-2699-425e-b302-ce3b78e57546.pdf
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Finally here is another link to additional information on the CARES Act that we received from Senator Casey’s office:
https://www.casey.senate.gov/coronavirus.

Sincerely,

Joe, Mark and MarcieCommunity Development Corporation
of Butler County
120 Hollywood Drive, Suite 101
Butler, PA 16001
www.butlercountycdc.com