There are options for signs, graphics and visual communications industry professionals to find help through state and federal government programs during the coronavirus pandemic.
Find templates and information to deem your business as "essential”, how-to info on navigating assistance programs, etc. so you can remain open to continue to serve vital infrastructure, manufacturing and retail services throughout our country.
The new stimulus law provides $350 billion in SBA loans to help small businesses-including those in the signs, graphics and visual communications industry-weather the storm during these difficult times. Visit signs.org/bcrc-cares to learn more about resources for:
Interim Emergency Legisliation
Congress is also preparing interim emergency legislation separate from the CARES Act to fund $500 billion more in relief for small businesses, hospitals, states and food assistance programs.
Disaster Loan Assistance
The U.S. Small Business Administration (SBA) provides low-interest economic injury disaster loans to help small businesses recover from declared disasters. As of March 26, 2020, this includes all 50 U.S. states. Companies can apply for disaster loan assistance on SBA's website. And here is SBA's Disaster Assistance in Response to the Coronavirus.
Florida's Small Business Development Centers are offering bridge loans.
Deferred Tax Payments
U.S. Department of the Treasury and IRS issued guidance on deferring tax payments.
The U.S. Department of Labor has announced new guidance on unemployment insurance flexibilities during the COVID-19 outbreak (March 12, 2020). Businesses should check with your state’s unemployment insurance program regarding the rules in your state (March 12, 2020).
The National Association of Manufacturers offers a comprehensive COVID-19 Map of State Resources.
Proposed Federal Response
ISA is supporting federal efforts to help sign, graphics and visual communications companies deal with this crisis by reducing their costs and increasing their cash flow as much as possible in the coming weeks. These proposed policies will:
- Provide readily accessible, unsecured credit to businesses of all sizes to ensure they have the cash to pay their workers, rent, and other costs during this crisis,
- Suspend the filing of business returns and the payment of all business taxes to the federal government for the duration of the pandemic, and
- Amend the Tax Code to help businesses of all sizes to deal with business losses and debt incurred for tax year 2020
If you have any questions, please contact ISA's David Hickey for more information.