Important Message from the Early Learning Coalition of Brevard County:

 

****************************************************************

 

 

Important Message from the Early Learning Coalition of Brevard County:
Coronavirus (COVID-19) Update
 
April 6, 2020
10:00 a.m.
 
Dear Early Learning Providers,
 
With over 30 states implementing stay-at-home orders, childcare is a central concern for many working parents, especially in essential industries, and the U.S. Chamber of Commerce Foundation is committed to helping the childcare industry weather this storm. 
 
To provide more information for childcare businesses struggling to stay afloat, the Chamber Foundation will host a webinar on Monday, April 6 to discuss COVID-19's impact on the childcare industry, the federal legislative response, resources available to small businesses, recommendations on how childcare providers can leverage loan programs, and more.  
 
Below is the link to the website. You must register for the event.
 
https://www.uschamberfoundation.org/event/federal-resources-early-childhood-education
 
 
Stay Well
 
Laura Gambino
Executive Director

 

                         

 

Important Message from the Early Learning Coalition of Brevard County:

Coronavirus (COVID-19) Update

 

April 1, 2020

2:00 p.m. 

 

Dear Early Learning Partners:

 

The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.

 

Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.

 

• For a top-line overview of the program CLICK HERE 

• If you’re a lender, more information can be found HERE 

• If you’re a borrower, more information can be found HERE 

• The application for borrowers can be found HERE 

 

U.S. Treasury Department 

Office of Public Affairs

 

Press Release: March 31, 2020

Contact: Treasury Public Affairs, (202) 622-2960

 

With $349 Billion in Emergency Small Business Capital Cleared, Treasury and SBA Begin Unprecedented Public-Private Mobilization Effort to Distribute Funds

 

WASHINGTON – Following President Trump’s signing of the historic Coronavirus Aid, Relief, and Economic Security (CARES) Act, SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin today announced that the SBA and Treasury Department have initiated a robust mobilization effort of banks and other lending institutions to provide small businesses with the capital they need. 

 

The CARES Act establishes a new $349 billion Paycheck Protection Program. The Program will provide much-needed relief to millions of small businesses so they can sustain their businesses and keep their workers employed. 

 

“This legislation provides small business job retention loans to provide eight weeks of payroll and certain overhead to keep workers employed,” said Secretary Mnuchin. “Treasury and the Small Business Administration expect to have this program up and running by April 3rd so that businesses can go to a participating SBA 7(a) lender, bank, or credit union, apply for a loan, and be approved on the same day. The loans will be forgiven as long as the funds are used to keep employees on the payroll and for certain other expenses.”

 

“This unprecedented public-private partnership is going to assist small businesses with accessing capital quickly. Our goal is to position lenders as the single point-of-contact for small businesses – the application, loan processing, and disbursement of funds will all be administered at the community level,” said Administrator Carranza. “Speed is the operative word; applications for the emergency capital can begin as early as this week, with lenders using their own systems and processes to make these loans. We remain committed to supporting our nation’s more than 30 million small businesses and their employees, so that they can continue to be the fuel for our nation’s economic engine.” 

 

The new loan program will help small businesses with their payroll and other business operating expenses. It will provide critical capital to businesses without collateral requirements, personal guarantees, or SBA fees – all with a 100% guarantee from SBA. All loan payments will be deferred for six months. Most importantly, the SBA will forgive the portion of the loan proceeds that are used to cover the first eight weeks of payroll costs, rent, utilities, and mortgage interest.

 

The Paycheck Protection Program is specifically designed to help small businesses keep their workforce employed. Visit SBA.gov/Coronavirus for more information on the Paycheck Protection Program. 

• The new loan program will be available retroactive from Feb. 15, 2020, so employers can rehire their recently laid-off employees through June 30, 2020.

 

Loan Terms & Conditions

• Eligible businesses: All businesses, including non-profits, Veterans organizations, Tribal concerns, sole proprietorships, self-employed individuals, and independent contractors, with 500 or fewer employees, or no greater than the number of employees set by the SBA as the size standard for certain industries

• Maximum loan amount up to $10 million

• Loan forgiveness if proceeds used for payroll costs and other designated business operating expenses in the 8 weeks following the date of loan origination (due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs)

• All loans under this program will have the following identical features:

• Interest rate of 0.5% 

• Maturity of 2 years 

• First payment deferred for six months 

• 100% guarantee by SBA

• No collateral

• No personal guarantees

• No borrower or lender fees payable to SBA

 

Visit treasury.gov/cares  for more information on SBA’s assistance to small businesses. 

 

####

 

Stay Well,

 

Laura Gambino

Executive Director

 

NEW:   Child Care Aware Updates

 

 

Important Message from the Early Learning Coalition of Brevard County:

Coronavirus (COVID-19) Update

 

March 25, 2020

4:30 p.m.

 

 

Dear Early Learning Community;

 

We will keep this message short as we know everyone is getting information from so many sources.  Thank you for participating in the Town Hall Zoom meeting this past Monday.  We sent out questions that were captured and are continuing to record ideas and questions daily.  

 

I wanted to let you know we are working hard on a program to assist with undue financial hardship, closures and losses. And we are continuing to monitor and gather data from our state-wide association and OEL for specific guidelines and effective dates.  Please keep watching emails and check our website for information and updates as well – www.elcbrevard.org.  And, as always, email or call us with any questions. 

 

Below are some helpful resources from various organizations to help our educators and families stay healthy and informed during COVID-19. We will continue to update this list as we receive additional information.

 

Appreciate everyone’s commitment and dedication to the children of Brevard county. 

 

Laura Gambino

Executive Director

 

• PBS Kids - Hang out with your favorite characters all while learning. 

• Coronavirus (COVID-19): How to Talk to Your Child (kidshealth.org) 

• Managing Stress and Anxiety When Navigating a Health Crisis (CDC) 

• What You Need to Know About COVID -19 in Florida (Florida Health)