An Economic Injury Disaster Loan (EIDL) is a loan offered to small business owners in Florida and throughout the United States amidst the Coronavirus (COVID-19) pandemic. This loan has an interest rate of 3.75%.
COVID-19 Update: Miami-Dade Executive Order Signed 07/06/2020
On Monday of this week, Miami-Dade County Mayor Carlos Gimenez released a statement along with a new emergency order. Due to the recent spike of positive COVID-19 tests and hospitalizations, this new order will close many public establishments to stop the increasing spread of the virus. These closures will be made effective this Wednesday, July 8th, 2020.
How does the CARES Act work in Florida?
The CARES Act provides several unemployment insurance benefit programs which include: the Pandemic Unemployment Assistance (“PUA”); the Federal Pandemic Unemployment Compensation (“FPUC”); and the Pandemic Emergency Unemployment Compensation (“PEUC”) which are further detailed below.
What is the EIDL Loan?
The EIDL program or Economic Injury Disaster Loan allows the SBA to provide loans of up to $2 million to small businesses that have suffered substantial economic injury. The EIDL reopened its loan program to small businesses on June 15, 2020 after closing to most small businesses in May of 2020.
How your Company can Minimize Liability During COVID-19
Businesses can have customers sign a Release from Liability Waiver, however, this cannot replace the requirement of maintaining a safe workplace. Businesses need to make sure they are in compliance with government agencies (CDC and OSHA), state, and local guidelines. Demonstrating that the business is following the published guidelines from these authorities is the best evidence an employer can provide to show they are reasonably reacting to COVID-19 risks.
Substantial Presence Test During COVID-19
During the coronavirus pandemic, many foreign nationals have been left unable to leave the United States and have, therefore, been involuntarily stranded in the country for longer than they anticipated. Does this extended presence in the United States carry with it any tax implications for these foreign nationals?
Rehiring Furloughed Employees Post-Covid-19
A furlough is a temporary, unpaid leave of absence, with an expectation that an employee will return to his or her job at a specific time. A furlough could also include reduced hours of work or work weeks. Ultimately, a furloughed employee remains an employee.
What are Business Interruption Claims?
Business Interruption Insurance Coverage is triggered when a disaster causes a suspension or reduction in business operations. This insurance is intended to restore the insured back to the position it would have been in had operations continued as expected, by covering the expenses and income loss incurred.
Employment Standards During Covid-19
The OSHA wants to ensure certain safety measures in a working environment, yet, also want to make certain that an employee is asserting an issue or concern in good faith. If your employer fails to implement proper guidelines or does not take reasonable steps to safeguard your well-being, then the law offers you, as an employee, the right to refuse to come into your workplace, until the imminent fear is no longer apparent.
COVID-19: How to Conduct Remote Depositions
Covid-19 has forced many industries to adjust their business operations so that they can comply with the distancing needed. The legal industry is not unlike others, as they have put efforts to make all court hearings virtual or over the phone. One of the many procedures that have made this change is the taking of a witness’ depositions. It is important that even attorneys with years of experience take the following factors into consideration when conducting a virtual deposition.
Covid-19 Disaster Assistance Update
The measurements taken to prevent the spread of Covid-19 in the US have caused an economic downturn that is dramatically affecting our country’s small businesses. While Congress was able to enact the CARES Act to provide emergency financial aid to those applied for one of its programs; unfortunately, it has now been reported that funding for these programs has been exhausted.
FLORIDA “REEMPLOYMENT ASSISTANCE”: Simple Answers to Common Questions Regarding Unemployment Claims and Benefits
Navigating the complex process of applying for reemployment assistance in the wake of an unexpected layoff is never a simple task. That difficult process is made even more complicated during a crisis that creates mass unemployment, such as the one which we are currently experiencing as a result of the ongoing COVID-19 pandemic. This guide is designed to answer some of the most commonly asked questions with regard to the Florida Reemployment Assistance program and to discuss changes in this area of law that have been made in light of the ongoing pandemic.
Who is a Borrower’s Representative?
Borrower’s Representative means an individual or an organization that is designated by the Borrower to act on behalf of the Borrower by a written certificate and complying with the requirements of the applicable state. The borrower’s representative always requires some written proof of authority before being able to act on behalf of the borrower.
How to Ensure you are Compliant with the PPP Loan
Over the past several weeks, thousands of businesses have applied for and (some) have received the Small Business Administration’s Paycheck Protection Program loan. An attractive condition of this loan is the potential it to be forgiven. However, the SBA has continued to issue guidance on how to remain eligible for forgiveness, and there are strict protocols that businesses must follow.
Can I Hold a Funeral During COVID-19?
If you or a loved one have been affected by COVID-19 and would like to learn more information about holding a funeral during this pandemic, do not hesitate to contact one of our experienced attorneys at EPGD Business Law. EPGD Business Law is located in beautiful Coral Gables, West Palm Beach and historic Washington D.C. Call us at (786) 837-6787, or contact us through the website to schedule a consultation.
Commercial Impracticability: Is COVID-19 an Excuse for Nonperformance?
As many of our questions are still left in the unknown, there may come some ease knowing that the law offers consideration during times like this. More recently, government intervention and closures have created shortages in staff and labor workers, while a shortfall in supplies have deviated businesses from performing their contractual duties.
How to Ensure You’re Utilizing Your PPP Loan the Proper Way
The most significant aspect of this loan is that it is completely forgivable so long as the funds are used for at least 75% of payroll costs. The loan may also be used for mortgage, rent, and utilities for the business.
Will my Business Insurance Cover Coronavirus Losses?
The coronavirus pandemic outbreak within the United States is unprecedented. Therefore, claims arising out of a disease outbreak are almost unknown to U.S. courts.
F@ck the Big Banks: Every Business Owner Should be with a Community bank (and have Their Banker’s cell Phone Number)
Now that the United States Government has implemented the CARES Act, a historic stimulus bill, there might be recovery yet for the extreme slow down in business one may experience. However, too many people are having difficulties with banks granting them the loans this stimulus was intended to provide.
Is there a Grace Period for Rental Payments during the COVID-19 Pandemic?
A grace period is a predetermined period of time immediately following a payment due date during which a late fee or other is waived provided that the obligation is satisfied during the grace period. Your grace period, if any, will be stated within your lease agreement, and will typically be limited to three to five… + Read More…
CARES ACT §1102 Paycheck Protection Program §1106 Loan Forgiveness
EXECUTIVE SUMMARY: The CARES ACT passed by the U.S. Congress on Friday, March 27, 2020 and signed into law by President Donald J. Trump on the same day is a massive coronavirus relief bill that in part provides tremendous relief for small businesses currently in flux. Businesses and nonprofit organizations may be eligible for an… + Read More…
Florida Coronavirus Executive Orders
Throughout March, Governor Ron DeSantis has issued multiple Executive Orders related to the COVID-19 outbreak. As of March 23, 2020, Governor DeSantis has issued seven Executive Orders directly related to the coronavirus pandemic.
Force Majeure and Excusable Non-Performance in Contracts Affected by COVID-19
Due to the forced closure of many “non-essential” businesses, many contractual obligations have been affected due to the resulting workforce and supply shortages. These disruptions have left many wondering whether “force majeure” provisions will relieve them of their contractual obligations.
The Families First Coronavirus Response Act
The FFCRA applies to only businesses with less than 500 employees. Divisions C and E establish two new laws that will take effect April 2, 2020 and will remain in effect until December 31, 2020 – the Emergency Family and Medical Leave Expansion Act and the Emergency Paid Sick Leave Act.
What Economic Assistance is Available to Small Businesses During the Coronavirus Pandemic?
The federal and state governments have offered a variety of aid or relief to individuals and small business owners related to the coronavirus pandemic and the COVID-19 disease. Our attorneys at EPGD have been closely monitoring all legal developments and changes in administrative policy to make sure we can guide you through this difficult time… + Read More…
What Happens if my City Passes an Emergency Ordinance in Response to COVID -19 that is More Restrictive than My State’s Emergency Order? Which Law do I Follow?
When conflict between laws or orders issued from different levels of government exists, the law at the higher level will typically govern unless that law or declaration is found to be unconstitutional. For instance, when federal and state law is in conflict, the federal law will supersede, or preempt, the state law and take precedence due to the supremacy clause of the United States Constitution.