RETURN TO WORK GUIDE FOR BUSINESS

The Alabama Technology Network (ATN), with extensive input from Alabama companies, have formulated this “Return to Work” plan  to educate business and industry on the return to work protocols and procedures implemented for safety and protection. Download the guide from the ATN site.

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PRIVATE GRANTS

This PDF, provided by Alabama Power, is a list of private entities providing support for businesses and individuals during COVID-19.  

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ADOR Issues Update for Income and Other Tax Relief

  MONTGOMERY, April 10, 2020 – The Alabama Department of Revenue announced today that the period for certain tax relief related to income and other taxes has been updated.
 

Taxpayers can defer state income tax payments due on or after April 1, 2020 (previously April 15), and before July 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers.
 

Other taxes included in the deadline extension are corporate income tax, the Financial Institution Excise Tax (FIET), and the Business Privilege Tax (BPT).
 

FEDERAL RESERVE LOANS

The Federal Reserve announced a new $2.3 trillion round of loans that include even more support for small businesses and consumers — and, for the first time, for states, cities and municipalities, too.

Below are a few high level notes from the press release.  

  

  • Bolster the effectiveness of the Small Business Administration's Paycheck Protection Program (PPP) by supplying liquidity to participating financial institutions through term financing backed by PPP loans to small businesses.
  • Ensure credit flows to small and mid-sized businesses with the purchase of up to $600 billion in loans through the Main Street Lending Program. 
  • Increase the flow of credit to households and businesses through capital markets
  • Help state and local governments manage cash flow stresses caused by the coronavirus pandemic.
  • The Main Street Lending Program will enhance support for small and mid-sized businesses that were in good financial standing before the crisis by offering 4-year loans to companies employing up to 10,000 workers or with revenues of less than $2.5 billion.

Virtual medical services

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COVID-19 Resources from Atlas Alabama

Many resources are now available to assist small business owners during the coronavirus pandemic. From tax relief to SBA loans to unemployment benefits, there are various avenues of assistance available at the federal, state, and local levels.

Please check back often to access updated information.

We are #ALtogether

ALtogether is a one-stop-shop where Alabamians can ask for help or lend a hand during the COVID-19 crisis. This response effort is designed to connect businesses, nonprofits, and people that need help with the right program partners–and to connect program partners with people and resources to help those most in need. 

At a broader level, ALtogether is a coordinated effort to provide policymakers, businesses, foundations, and the public with (1) information about how the crisis is impacting hardworking Alabamians and (2) opportunities to offer assistance to Alabama business owners and workers. 

Want to join us?

How is COVID-19 affecting your workforce? Take the Survey!

AlabamaWorks is pleased to announce a new tool for all businesses, 

large and small, related to the COVID-19 impact and future 

focus of workforce in the state. 

The Alabama COVID-19 Workforce Response Survey is designed to help the state fully understand the impact of this pandemic on the state’s workforce as well as provide a clear path forward for businesses, industry and state government. 

  

Responses to the survey will be accepted through Tuesday, April 21 at 5:00pm. All businesses are highly encouraged to participate as the 

responses will help to protect Alabama’s workforce, manage the 

impact of COVID-19 and guide allocation of various resources.  

NEW PROGRAM FROM LISC

  

Verizon Small Business Recovery Fund
Thanks to a $2.5 million investment from Verizon, the Ford Foundation's non-profit program, LISC is offering grants to help small businesses fill urgent financial gaps until they can resume normal operations or until other more permanent financing becomes available.

Who is eligible?
LISC will use the Verizon funding to provide grants of up to $10,000 to businesses facing immediate financial pressure because of COVID-19—especially entrepreneurs of color, women-owned businesses and other enterprises in historically underserved communities who don’t have access to flexible, affordable capital.

  • What it can be used for?
    Paying rent and utilities
    Meeting payroll
    Paying outstanding debt to vendors
    Other immediate operational costs


 Funding will re-open in mid April, so get your applications ready! 


NEWS RELEASE FROM SBA

SBA Offers Disaster Assistance to Alabama Small Businesses

SBA Offers Disaster Assistance to Alabama Small Businesses Economically Impacted by the Coronavirus (COVID-19)

ATLANTA – The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to Alabama small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19), SBA Administrator Jovita Carranza announced today. SBA acted under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, to declare a disaster following a request received from Gov. Kay Ivey on March 17, 2020.

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