Coronavirus (COVID-19) Business Resources for Atlanta

Georgia Officially Orders Businesses To Go Home

All 159 Counties in Georgia have now been officially declared as disaster areas.

Georgia Governor Brian Kemp issued an Executive Order in response to the COVID-19 coronavirus outbreak that restricts businesses from having 10 or more employees working in the same location. This provision went into effect at noon on March 24, 2020 and will be in place for at least 14 days.

"All individuals living in the territorial jurisdictional limits of the City of Atlanta are directed to stay at their place of residence; … directing all businesses to cease non-essential operations at physical locations within the City of Atlanta; prohibiting all non-essential gatherings of any number of individuals."

Atlanta Mayor Keisha Lance Bottoms also issued an Order directing all businesses to cease non-essential operations in the city of Atlanta.

"That no business, establishment, corporation, non-profit corporation, or organization shall allow more than ten (10) persons to be gathered at a single location if such gathering requires persons to stand or to be seated within six (6) feet of any other person."

Georgia Coronavirus Business Resources

Georgia businesses are eligible for two main programs to relieve cash flow strains on their businesses as a result of Coronavirus quarantines. Small business applicants can apply for Economic Injury Disaster Loans and the Paycheck Protection Program if there are different uses of proceeds for each loan.

Funds from the loans cannot be comingled.

  • EIDL funds come directly from the U.S. Treasury. Applicants do not apply through a bank.
  • Your application to participate in the SBA Paycheck Protection Program is subject to SBA approval.
Business Loans

DISASTER LOANS

Find Funds To Help Cashflow

Companies can apply for up to $2 million in an Economic Injury Disaster Loan (EIDL) that can be used for various expenses, including mortgage payments, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. Loans over $25,000 may require collateral.

The EIDL also allows for very quick payments. An emergency grant can also be applied for up to $10,000, which will make proceeds available in 3 days and is not required to be repaid if the loan is denied.

Loans are backed by the US Treasury. Rates are 3.75% for profit, 2.75% for non-profit organizations. Organizations have 30 years to repay the loans.

Cares act

PAYCHECK PROTECTION PROGRAM (PPP)

Get Payroll Relief

The Paycheck Protection Program (PPP) is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This is a nearly $350-billion program intended to provide American small businesses with eight weeks of cash-flow assistance through 100 percent federally guaranteed loans. You can read the bill in its entirety here.

PPP allows organizations under 500 employees to apply to secure funds for payroll, group health benefits, salary and employee commissions, interest on mortgages, rent, utilities, and interest on debt incurred before February 15, 2020. Companies can apply for up to $10 million or 2.5x their average monthly payroll. The loan can be forgiven and essentially turn into a non-taxable grant.

Loans will be made through institutions, and will not have rates higher than 4%. Companies have 10 years to repay the loan after applying for forgiveness. The government has not released the full list of participating institutions.

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