The Federal government and state governments have established programs and guidance to provide individuals and small and mid-sized businesses with assistance to minimize the economic impact of the novel Coronavirus (COVID-19).
The information provided herein is intended for informational purposes only. We encourage you to research programs and resources that may apply to you or your business. Consult your accountant, attorney or banking professional for assistance completing loan applications.
Second Draw PPP Loans
The Paycheck Protection Program resumed January 11, 2021 with loan applications being accepted from participating lenders. The program allows eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP Loan with the same general loan terms as the first PPP loan.
Second Draw PPP Loans can be used for payroll costs, benefits, mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.
The maximum loan amount is 2.5x average monthly 2019 or 2020 payroll costs, up to $2 million.
You are eligible for the Second Draw PPP loan if you
- Previously received a First Draw PPP Loan and will or have used the full amount only for authorized uses
- Have no more than 300 employees; and
- Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020
Visit Second Draw PPP Loans for more information.
Guides for Reopening
View and download Target’s SAFE Retail: Considerations for Retail Operations Post COVID-19 document that provides a framework and resources for opening and operations.
View and download signage to promote social distancing, wayfinding, entering/exiting and more, at your restaurant or shop.
The International Council of Shopping Centers has issued COVID-19 Re-Opening Best Practices.
Sandy Springs Perimeter Chamber of Commerce has provided guidelines for Re-Entry to the Workplace.
Georgia Stage Board of Cosmetology and Barbers has issued Safety Guidelines for Reopening Barber and Cosmetology Salons.
- Restaurant Delivery and Pickup: Restaurateurs and similar businesses can create delivery options for customers through GrubHub, DoorDash, UberEats and other delivery services. Visit Restaurant Den for more information.
- Stay Connected with Customers on Nextdoor: Create a free Nextdoor Business Page to connect with people in your community and keep them updated about your business operations during this time.
- 67% of Nextdoor users share recommendations
- 88% shop at local businesses at least once a week
- Engage Customers Through Social Media & Email: Posting regular updates to your social channels helps keep your business top-of-mind with customers. Mailchimp offers a free email marketing plan that can help you stay engaged with your customers, even if your business has been forced to temporarily close.
- Facebook has created a Business Resource Hub, providing information, guidance and resources for operating and promoting your business.
- Please keep us updated on your operations, specials and promotions, so we can share on our social channels.
- The DeKalb Better Business Loan Program: Up to $40,000 per borrower or business is available for those experience economic hardship as a result of COVID-19.
Borrowers must use the loan proceeds within 3 months for the following expenses:
- Payroll (gross federal wages
- State unemployment taxes and local taxes
- Employee benefits
- Business mortgage interest
- Business property rent payments
- Commercial property utilities
- Interest on other business debts
- Payroll costs are capped at $100,000 on an annualized basis for each employee. During the3-month period after the Loan is made, businesses may be required to maintain payroll compensation and employee levels equal to or greater than the 3-month pre-Covid19 period of October through December 2019.
Important Loan Information
Information & Guidance
- Business Interruption Insurance: Contact your business insurer to file a claim for business interruption insurance. The claim may be denied due to coverage restrictions; however, filing a claim now will preserve your right to insurance coverage in the event the government mandates insurance companies cover claims for loss of business due to the COVID-19 crisis.
- Consult the USI Guide to Preparing & Documenting a Business Interruption claim to help you understand the factors and documentation that will be necessary to build a claim submission.
CDC Risk Assessment
We encourage you and your employees, vendors, contractors and customers to follow all health department and CDC recommendations within your premises and on the property, including advising sick employees to stay home, and communicating closures or altered business hours to customers. Please make extra efforts to clean and sanitize common areas and equipment used for services.
Visit https://www.cdc.gov/coronavirus/2019-ncov/php/risk-assessment.html for more information