The Application is Now Available for CARES Act Small Business Loans: What You Need to Know | Insights | Venable LLP
On March 31, 2020, the U.S. Department of the Treasury and the Small Business Administration (SBA) released the application form for businesses to apply for and obtain loans under the Paycheck Protection Program.
From the Office of the Chancellor
The COVID-19 epidemic continues to influence our lives in so many ways. The potential spread of this disease has altered the lives of our students and our employees. In the most recent press conference hosted by Arkansas Governor Asa Hutchinson, he indicated that the peak of COVID-19 infections for Arkansas could possibly occur in late April. While we all pray and hope that this will be sooner, and the peak less severe, we have a responsibility to protect our students, staff, and community.
Based on the information that we have, UA Cossatot will continue to operate as we have been since this pandemic started. We will continue to keep our campuses closed to students and visitors until at least Friday, April 17th. Our employees will continue to work either on campus or from home. Those employees that are working on campus must continue to observe the rules of social distancing and cleanliness.
We will continue to serve and provide all the resources our students need to be successful in the online environment. Our students, faculty, and staff have been unbelievable in answering these challenges in these very trying times. We will walk every mile with our students. We will make a determination regarding our hands-on technical course schedules on Friday, April 3rd. We understand that online learning is not an option for many technical students who learn many of their skills in lab and shop settings. We will be sensitive to the needs of these students and will find the best way to accommodate and allow them to complete their education in a safe setting.
As for the summer and fall semesters, our registration is open for both semesters. We have made our entire registration process online for the safety and convenience of our students. Our website contains all the information students need to register: https://www.cccua.edu. Our summer term will feature mainly online courses, but will have some in-class courses should the COVID-19 outbreak lessen enough to allow that to happen. We are planning on a full and normal fall 2020 semester. We are hoping that there will be additional educational assistance for students impacted by COVID-19.
These are unprecedented and unexplored times but we will all make it through by working together. You can always find more UA Cossatot information on Facebook (ED88 and UAC) and on our CCCUA.EDU and https://www.ed88radio.com websites.
Thank You,
Dr. Steve Cole
Chancellor, UA Cossatot
Cossatot Community College
UA Cossatot embraces diversity and is committed to improving the lives of those in our region by providing quality education, outstanding service, and relevant industry training. The University of Arkansas - Cossatot Community College offers degrees and certificates in more than two dozen fields.
UA Cossatot Foundation's Fiesta Fest 2020 Postponed
Due to safety and health concerns, the seventh annual Fiesta Fest scheduled for Saturday, May 2, 2020, in Downtown De Queen, is now rescheduled for Saturday, September 12, 2020, in the same location from 11:00 A.M. to 4:00 P.M.
Fiesta Fest is a an event hosted by UA Cossatot Foundation that focuses on bringing the community together while also raising money for UA Cossatot students. The annual event features many vendors and attractions that highlight and celebrate cultures, businesses, and people of Southwest Arkansas.
For questions about Fiesta Fest or how to participate, please contact UA Cossatot Foundation Director, Dustin Roberts at 870-584-1172 or droberts@cccua.edu.
De Queen/Sevier County Chamber April 1 Updates
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De Queen/Sevier County Chamber of Commerce April 1 updates
Federal News New Treasury Guidance on Small Business Loan Program, Employee Retention Credit: The Treasury Department has issued new guidance on the CARES Act's $350 billion loan fund for small businesses during the COVID-19 pandemic. Small businesses and sole proprietorships can apply for loans through the "Paycheck Protection Program" starting April 3, while self-employed individuals and independent contractors can apply starting April 10.
HealthCare Express Opening COVID-19 Testing Centers in De Queen
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HealthCARE Express opening COVID-19 testing centers in De Queen
Beginning Wednesday, April 1, the HealthCARE Express clinic in De Queen will join the ranks of the clinics HealthCARE Express has designated as COVID-19 testing centers in their communities. The test HealthCARE Express is offering will provide results within 1-3 days, drastically reducing the wait time for results compared to the previous COVID-19 test.
Restaurants Struggle to Stay Open Amidst Surrounding Business Closures
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Restaurants struggle to stay open amidst surrounding business closures
With Governor Asa Hutchinson ordering the shutdown of many businesses in the state, the impact has left the local business community struggling to survive as many restaurants have closed as have all the gyms, barber shops and beauty salons.
Governor Hutchinson Directs State Parks To Implement New Measures for Public Health
LITTLE ROCK – Governor Asa Hutchinson has approved temporary changes to Arkansas State Parks’ operations to protect public health during the COVID-19 crisis, he announced at a news conference today.
The Governor has directed that Arkansas State Parks implement “day use” operations only, effective 8 a.m. on Friday, April 3, a decision he made in consultation with Arkansas Department of Parks, Heritage and Tourism Secretary Stacy Hurst.
“Arkansas State Parks will remain operational,” Governor Hutchinson said. “Arkansas is known for our outdoor recreation, and we want to allow Arkansans to safely enjoy what our state has to offer. These new safety measures will reduce the risk of overcrowding at our parks and discourage visitors from out-of-state until the threat of COVID-19 has passed.”
“This Friday, we will move to ‘day use’ only across our state parks system, eliminating all overnight stay opportunities,” Secretary Hurst said. “This is consistent with 28 other states, and we believe it will further reduce the number of out-of-state visitors. We are staying on top of the data and best practices and will adjust if further limitations are needed.”
Under the new “day use” directive, Arkansas State Parks will close overnight facilities, such as cabins and campgrounds.
In addition, Arkansas Department of Parks, Heritage, and Tourism is temporarily implementing safety measures to prevent visitation surges in state parks. Arkansas State Parks will deploy park rangers to enforce social distancing, disperse gatherings of more than 10 people, and implement parking restrictions to limit overcrowding at popular parks.
Secretary Hurst will closely monitor problematic areas such as trails that are overcrowded or too narrow for proper social distancing and close such areas as needed.
Information on the park closings can be found at https://www.ArkansasStateParks.com/covid-19-update.
COVID-19 Update | Arkansas State Parks
Arkansas State Parks remain open as we monitor COVID-19 and the impact of coronavirus in our state. We are taking the CDC's recommended precautions as we work to provide a safe environment for our visitors. Parks continue to be your gateway to hiking, kayaking and canoeing, golf, mountain biking, fishing and boating and other outdoor experiences.
Latest Arkansas COVID-19 Update from the AR Department of Health
LIVE VIDEO: Governor Hutchinson Provides COVID-19 Update to Media (04.02.20) 1:30 p.m.
LIVE VIDEO: Governor Hutchinson Provides COVID-19 Update to Media (04.01.20) 1:30 p.m.
Governor Asa Hutchinson will provide a COVID-19 update on live video at 1:30 Wednesday afternoon, 04/01. Press play button above.
Testing for COVID-19 Virus at Health Care Express
Call to make an appointment: (870) 518-2008
Test results in 1-3 days
Latest Arkansas COVID-19 Update from the AR Department of Health
Message from U.S. Congressman Bruce Westerman
Friends,
President Trump signed the bipartisan Coronavirus Aid, Relief and Economic Security (CARES) Act into law on March 27, and I know many of you have questions about what this bill means for you and your families.
I've compiled a list of resources, frequently asked questions, and background information below to help you better understand some of the main portions of the bill. As always, my offices are equipped to answer any additional questions you have - just give us a call at (501) 609-9796. You can also sign up to receive weekly updates here.
We are all in this together.
Bruce Westerman
Arkansas' Fourth District
American Recovery Rebates
Every American with a valid Social Security number is eligible to receive a one-time tax rebate check. The full amount ($1,200 for individuals, $2,400 for couples, $500 for each child under the age of 17) is available for those with incomes at or below $75,000 for individuals, $112,500 for heads of household, or $150,000 for joint filers. The credit phases out above those thresholds and will be phased out completely for single taxpayers with incomes exceeding $99,000 or joint filers with incomes exceeding $198,000.
Those who have no income, as well as those whose income derives entirely from non-taxable means-tested benefit programs - such as SSI benefits - may still be eligible for a rebate. However, if a person over the age of 17 is a dependent on someone else's tax return, they will not be eligible for a rebate.
Frequently Asked Questions:
How do I get my check?
If you have already filed your 2019 tax return, your rebate will be based on that information, otherwise it will pull from your 2018 tax return. The amount will come in the form of a tax rebate and will be directly deposited into your bank account, if you included direct deposit information on your tax form. If you did not, your check will be mailed to you.
If you typically do not file a tax return, you must still file one to be eligible for the rebate. More information on free filing is available here.
I changed my banking information since filing my tax return. How will the IRS know where to send my check?
The Treasury Department is creating a website where taxpayers can provide their banking information to receive a direct deposit instead of a check. You will be able to update your information there.
When will I get my check?
Treasury Secretary Steven Mnuchin said during a March 25 White House briefing that the department could begin sending payments in as little as three weeks.
Will I get a check if I owe back taxes?
Yes, rebates will not be offset by tax debt or any other federal debt.
I receive Social Security benefits, veteran benefits, or disability. Will I get a check?
Yes. As long as a person has a valid Social Security number, they can receive the credit – so this means workers, those receiving welfare benefits, Social Security beneficiaries, veterans and others are all eligible. However, you must still file a tax return in order to be recorded by the IRS for this rebate.
Small Business Assistance
The CARES Act creates a Paycheck Protection Program for small employers, self-employed individuals, and “gig economy” workers, with $350 billion to help prevent workers from losing their jobs and small businesses from going under due to the COVID-19 outbreak. The Paycheck Protection Program provides 8 weeks of cash-flow assistance through 100 percent federally-guaranteed loans to small employers who maintain their payroll during this emergency.
If the employer maintains payroll, the portion of the loans used for covered payroll costs, interest on mortgage obligations, rent, and utilities would be forgiven. This proposal is retroactive to February 15, 2020, to help bring workers who may have already been laid off back onto payrolls. Some businesses that employ more than 500 employees across multiple locations are eligible for the Paycheck Protection Program at each individual location.
The CARES Act also institutes an employee retention credit, providing a refundable payroll tax credit equal to 50 percent of up to $10,000 in wages per employee (including health benefits) paid by certain employers during the COVID-19 crisis. This credit is available to employers:
Whose operations were fully or partially shut down by government order limiting commerce, travel, or group meetings due to COVID-19, or
Whose quarterly receipts are less than 50 percent for the same quarter in the previous year.
Frequently Asked Questions:
What businesses are eligible?
Businesses and entities must have been in operation on February 15, 2020.
Small business concerns, as well as any business concern, a 501(c)(3) nonprofit organization, a 501(c)(19) veterans organization, or Tribal business concern described in section 31(b)(2)(C) that has fewer than 500 employees, or the applicable size standard in number of employees for the North American Industry Classification System (NAICS) industry as provided by SBA, if higher.
Individuals who operate a sole proprietorship or as an independent contractor and eligible self-employed individuals.
Any business concern that employs no more than 500 employees per physical location of the business concern and that is assigned a NAICS code beginning with 72 (Accommodation and Food Services sector), for which the affiliation rules are waived.
Affiliation rules are also waived for any business concern operating as a franchise that is assigned a franchise identifier code by the Administration, and company that receives funding through a Small Business Investment Company.
Where can I get this loan?
Through any existing Small Business Administration lenders and any lenders that are brought into the program through the Treasury Department. Talk to your preferred financial lender to see if they qualify.
What can the loan be used for?
Payroll costs
Costs related to the continuation of group health care benefits during periods of paid sick, medical, or family leave, and insurance premiums
Employee salaries, commissions, or similar compensations
Payments of interest on any mortgage obligation (which shall not include any prepayment of or payment of principal on a mortgage obligation)
Rent (including rent under a lease agreement)
Utilities
Interest on any other debt obligations that were incurred before the covered period
When can I apply?
Starting April 3, 2020, small businesses and sole proprietorships can apply. Starting April 10, 2020, independent contractors and self-employed individuals can apply. The Treasury Department encourages people to apply as quickly as possible because there is a funding cap.
When is the application deadline for the Paycheck Protection Program?
Applicants are eligible to apply for the PPP loan until June 30, 2020.
How do I receive loan forgiveness?
You must apply through your lender for forgiveness on your loan. In this application, you must include:
Documentation verifying the number of employees on payroll and pay rates, including IRS payroll tax filings and state income, payroll and unemployment insurance filings.
Documentation verifying payments on covered mortgage obligations, lease obligations, and utilities.
Certification from a representative of your business or organization that is authorized to certify that the documentation provided is true and that the amount that is being forgiven was used in accordance with the program’s guidelines for use.
Unemployment Insurance
The CARES Act expands current unemployment benefits to individuals who are not traditionally eligible for unemployment benefits: self-employed, independent contractors, individuals with limited work history, gig workers and others.
Federal funding is now available for states to provide the first week of unemployment benefits to eligible individuals immediately. This allows individuals to apply and receive unemployment benefits as soon as they become unemployed, instead of waiting one week after becoming unemployed to apply for and receive benefits. This legislation also provides an additional $600 per week to each recipient of unemployment insurance or Pandemic Unemployment Assistance for up to four months.
The CARES Act authorized a Pandemic Unemployment Assistance of an additional 13 weeks of unemployment benefits for individuals who remain unemployed after state unemployment benefits are no longer available.
These provisions sunset on December 31, 2020.
Frequently Asked Questions:
How do I file for unemployment?
You can file an unemployment insurance application online here, call the hotline at 1-844-908-2178 or 501-534-6304, or file a claim at any Arkansas Workforce Center office. A valid government ID is required (driver’s license or passport). Due to an increased volume of applications, the online process is recommended.
Once you finish the application, you may need to call your local unemployment office to complete the process. Keep in mind that many others are doing the same thing, so expect longer wait times as local offices rush to catch up with the high demand.
My child's daycare closed/I'm taking care of a family member with COVID-19/I'm experiencing COVID-19 symptoms and need to quarantine, am I still eligible for unemployment insurance?
Yes, if these circumstances are preventing you from working, you will be eligible for coverage.
I quit my job. Can I still receive these additional benefits?
It depends. If you were forced to quit your job because of daycare closures or COVID-19 exposure, you should still be covered under the bill. However, you cannot voluntarily opt-in by quitting for reasons unrelated to COVID-19. You must be laid off by your employer.
I'm already receiving unemployment benefits. Will I still be eligible for the additional coverage?
Yes. Even if you're already receiving unemployment benefits, your state-level benefits will be extended by 13 weeks. You'll also be eligible for the additional $600 weekly federal payment.
Message from the Office of U.S. Senator Tom Cotton Regarding COVID-19
I wanted to flag several key questions that Senator Cotton’s office has been hearing from constituents. Please feel free to use the information below however you see fit to help spread the word to Arkansans.
I’m on social security. Do I need to file a tax return to receive my benefits?
No. If an individual has not filed a tax return in 2018 or 2019, the government will use an individual's 2019 SSA-1099 Social Security Benefit Statement or 2019 RRB-1099 Railroad Retirement Benefit Statement to advance payments to individuals who receive Social Security or Railroad Retirement Benefits. All Social Security beneficiaries-retired workers, disabled workers, eligible family members, and survivors-receive a Form SSA-1099. However, Supplemental Security Income (SSI) recipients are not provided a Form SSA-1099. SSI recipients who also receive Social Security benefits will be automatically forwarded a payment. SSI recipients who do not receive Social Security benefits will need to file a 2019 tax return to receive a payment if they are otherwise eligible. If an individual started receiving Social Security payments in 2020, they will need to file a 2019 tax return to be eligible. Adults who are claimed as a dependent on another taxpayer's return are not eligible for a payment.
What do I need to do about my federal student loans?
Federal student loan borrowers do not need to take any action to suspend payments. Your federal student loan servicer will suspend all payments without any action from you. You do not need to contact your student loan servicer. While federal student loan payments are suspended, the loans shall not accrue any interest and the month of a suspended loan payment will be treated as if a loan had been made for purposes of loan forgiveness and loan rehabilitation. The suspension period will result in no negative credit reporting and also involuntary collection of the loan will be suspended—no wage garnishments, tax intercepts, offset of federal benefits, or any other collection activity. These protections do not apply to borrowers with Perkins Loans and borrowers whose FFEL loans are held by banks or guaranty agencies. If you have a Perkins Loan or an FFEL loan that is privately owned, you should contact your loan servicer to explore options they may be offering.
When will I get my check and how much will it be?
Treasury Secretary Steven Mnuchin has said he expects most people to get their payments within approximately three weeks.
For Individual Filers: Americans who file their taxes as individuals will receive up to $1,200 in assistance. If your income was less than $75,000 in 2019, you will receive the full amount of $1,200. For those making above $75,000, reduced checks on a sliding scale will be paid. For every $100 you make over $75,000, your assistance will be reduced by $5.
For Married Couples Filing Jointly: Americans who file taxes jointly will receive up to $2,400 plus $500 for every dependent under the age of 17. If your joint income was less than $150,000 in 2019, you will receive the full amount of $2,400 plus $500 for every dependent under 17. For couples making above $150,000, reduced checks on a sliding scale will be paid. For every $100 you make over $150,000, your assistance will be reduced by $5.
I just lost my job. What are my options in terms of unemployment benefits?
Congress recently passed a new program called Pandemic Unemployment Assistance which will make certain Arkansans who lost their jobs due to the public health emergency are eligible for unemployment insurance, provided an additional 13 weeks of unemployment insurance, and provided an additional $600/week in unemployment insurance through July 31. Arkansas normally offers 16 weeks of unemployment insurance; because of the new program, Arkansans will be eligible for a total of 29 weeks.
Individuals Eligible for Normal Unemployment Insurance: Unemployed workers who are eligible for traditional unemployment insurance will receive their normal income-based payment plus $600 a week until July 31st. If an individual is still unemployed after July 31, their payment will revert down to the traditional payment they would have received before the crisis.
Individuals Newly Eligible for Pandemic Unemployment Assistance: Unemployed workers who wouldn’t typically qualify for unemployment benefits but are now unemployed as a result of the pandemic will receive $600 a week plus an amount that the Arkansas Division of Workforce Services determines until July 31. After July 31, their payments will revert down to the amount that ADWS determines. Self-employed individuals, independent contractors, and “gig economy” employees will all be covered. However, to qualify, an individual must have lost their job or income due to the virus, tested positive or exhibited symptoms of the virus, or be caring for a member of your household or family who has been diagnosed with the virus.
Individuals who have had their hours cut: Arkansas offers partial unemployment benefits to certain individuals who have had their hours cut. Please contact the Arkansas Division of Workforce Services to determine if you are eligible.
James Arnold
Press Secretary
Senator Cotton (Arkansas)
Cell: (202) 734-0430
De Queen Pilgrim Employee Tests Positive for COVID-19
For the complete story, visit:
https://www.dequeenbee.com
De Queen Pilgrim employee tests positive for covid-19
A Pilgrim's employee has tested positive for covid-19 after exhibiting flu-like symptoms, according to a letter sent to employees by the company. The information was confirmed by Pilgrim employees. "we received this information today from the Arkansas Dept. of Health," the letter states.
LIVE VIDEO: Governor Hutchinson Provides COVID-19 Update to Media (03.31.20) 1:30 p.m.
Governor Asa Hutchinson will provide a COVID-19 update on live video at 1:30 Tuesday afternoon, 03/31. Press play button above.
AEP's Response to COVID-19
Dear Community Partners,
If you do not have time to read through the Federal stimulus package, please check out these links our AEP team has put together for small/medium businesses to secure grants or loans from the $500M pot and to understand the process. Great tool!
https://aep.com/news/coronavirus
https://aep.com/news/coronavirus/businesses
If we can assist, please do not hesitate to call on us. Please call my cell at 903-736-3389 if you have any questions, needs or concerns.
In it together!
JENNIFER HARLAND | EXTERNAL AFFAIRS MGR
JKHARLAND@AEP.COM | D:903.223.5880
3708 W 7TH ST, TEXARKANA, TX 75501-6324
AEP's Response to COVID-19 (Coronavirus)
Small Business Assistance for Businesses Impacted by COVID-19
Attention De Queen High School Seniors
Rick Lancaster will be delivering senior supplies Thursday, April 2 from 11-12:30. Students should drive through in front of the school and have their name displayed on the passenger side of the vehicle. Those who have a balance may bring cash, debit/credit cards or money order. No checks.
Students need to check their school email daily.
--
Ramona Hill BSE, MSE
National Board Certified School Counselor
ArSCA Southwest Regional President-Elect
De Queen High School
1803 West Coulter
De Queen, AR 71832
870-642-2426 ext. 227
870-642-4931 fax
Governor Hutchinson Directs 10 Guardsmen to State Active Duty
~ Engineers to support Army Corps of Engineers and Department of Health
WHO: The Arkansas National Guard
WHAT: By order of the Governor, has mobilized 10 Guardsmen from both Army and Air National Guard units
WHEN: March 30, 2020, thru a date to be determined
WHERE: Arkansas Dept. of Health EOC and various locations around the state
WHY: The Arkansas Division of Emergency Management has tasked the Arkansas National Guard to provide 10 engineers to assist the Arkansas Department of Health and U. S. Army Corps of Engineers with assessing large facilities to determine if build outs for medical surge would be possible.
The engineers will work with the U.S. Army Corps of Engineers to help assess potential facilities around the state.
The guard personnel selected for this mission possess engineering degrees in civil, mechanical or electrical specialties that can assess architectural, heating, ventilation, air-conditioning, electrical, communications, plumbing and fire protection to potential medical surge facilities.
The Army and Air National Guard Soldiers and Airmen selected for this mission are assigned to various units throughout Arkansas. The Arkansas Air National Guard Airmen include three from the 188th Wing, and two from the 189th Airlift Wing. Soldiers from the Arkansas Army National Guard include one from the 39th Infantry Brigade Combat Team, two from the 77th Combat Aviation Brigade, one from Fort Chaffee Joint Maneuver Training Center, and one assigned to Joint Forces Headquarters based at Camp Joseph T. Robinson Maneuver Training Center.
The total number of Soldiers and Airmen on state active duty on March 30 will be 63. There are an additional nine Soldiers serving in planning and liaison roles at ADH, ADEM, and the ARNG’s Joint Operations Center, whose statuses vary.
The Arkansas National Guard assumes support roles to augment civil authorities, where needed and directed by the Governor, to help in a crisis.
Breakdown on COVID-19 cases in Arkansas
LITTLE ROCK, Ark. (WMC) - In a daily update, Arkansas Governor Asa Hutchinson and authorities with the Arkansas Department of Health say there are now 508 COVID-19 cases in Arkansas and seven deaths related to the virus.
Arkansas County has also been confirmed to have its first case. More than 6,000 people have been tested across the state.
Breakdown on COVID-19 cases in Arkansas:
71 cases related to domestic travel
73 healthcare workers affected
62 people hospitalized
47 nursing home patients
5 total nursing homes affected
21 people on ventilators
37 people with diabetes
10 people with chronic kidney disease
12 people with immunodeficiency issues
“We recognize Arkansans’concerns about this illness, and we are committed to keeping the public informed with as much information as we have about the virus, while also protecting the privacy of individual patients,” the ADH stated in a March 2 news release.
The ADH has released an interactive map of COVID-19′s spread throughout the state, county-by-county.
