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Coronavirus Update for Tuesday, April 14

April 14, 2020

Coronavirus (Covid-19) Update for Tuesday, April 14

In an effort to keep TN-09 constituents up to date on the coronavirus situation, I will share updates with important information. I hope you'll take some time to look at this information. As always, if you need to reach my office please call 901-544-4131 for the Memphis office and 202-225-3265 for the D.C. office. Updates will be posted on my website: Cohen.House.Gov.

Tennessee has 5,610 cases of coronavirus infection, including 1,351 in Shelby County. Please follow prudent social distancing practices.

Stay-at-home orders

Earlier this week, Governor Bill Lee extended his stay-at-home order for two weeks, until April 30. Some health experts believe the surge in cases will be beyond that date.

Memphis Mayor Jim Strickland and Shelby County Mayor Lee Harris have issued executive orders requiring non-essential workers to stay home.

Useful Resource Links

Here is a detailed list of coronavirus related resources you may find useful:

/coronavirus-resources

It contains a variety of federal, City of Memphis, Shelby County, Tennessee and other resources. It is also posted on my official website at cohen.house.gov

Assistance for Small and Mid-Sized Businesses

The Federal Reserve has started its Main Street Lending Program for businesses with up to 10,000 workers or with revenues of less than $2.5 billion. Loans range from $1 million to $25 million and are available for four-year terms. Principal and interest payments will be deferred for one year. Businesses that have taken advantage of the PPP may also take out Main Street loans.

Read more about the Main Street Lending Program here.

Tennessee Chamber of Commerce

The Tennessee Chamber of Commerce is sending a daily email with business updates related to COVID-19. The Chamber also has resources on unemployment insurance, the Paycheck Protection Program (PPP), and other guidance and resources for employers and employees. Please visit: https://www.tnchamber.org/coronavirus

Receiving an Economic Stimulus Payment as a Non-Filer

Last week, the IRS launched a web tool for non-filers to receive the economic stimulus payments. This new tool is designed for people who did not file a tax return for 2018 or 2019 and who don't receive Social Security retirement or disability benefits or Railroad Retirement benefits. Others who should consider the Non-Filers tool as an option include:

  • Lower income: This may include single filers who made under $12,200 and married couples making less than $24,400 in 2019 who did not file a 2018 or 2019 return because they are under the normal income limits for filing a tax return.
  • Veterans beneficiaries and Supplemental Security Income (SSI) recipients: The IRS continues to explore ways to see if Economic Impact Payments can be made automatically to SSI recipients and those who receive veterans disability compensation, pension or survivor benefits from the Department of Veterans Affairs and who did not file a tax return for the 2018 or 2019 tax years. People in these groups can either use "Non-Filers: Enter Payment Info" option now or wait as the IRS continues to review automatic payment options to simplify delivery for these groups.
  • Social Security, SSDI and Railroad Retirement beneficiaries with qualifying dependents: These groups will automatically receive $1,200 Economic Impact Payments. People in this group who have qualifying children under age 17 may use "Non-Filers: Enter Payment Info" option to claim the $500 payment per child.

Individuals will be asked to provide information including Social Security number, name, address, and dependents. Please find this tool here. Users should look for, "Non-filers: Enter Payment Info Here," to take them directly to the tool.

The Treasury Department announced Wednesday, April 1 that Social Security retirement and disability recipients who do not file tax returns will receive the economic stimulus payments automatically. The payments will be disbursed using recipients' banking information on file with the Social Security Administration.

SBA Disaster Loan Program

Background information

Congress has created a number of resources for small businesses affected by the coronavirus. The Small Business Administration (SBA) is providing both grants and loans to Tennessee business owners, including Economic Injury Disaster Loans, payroll tax credits, and a new Paycheck Protection Program (PPP) that is designed to help businesses cover the cost of payroll during the crisis (more details below).

For more information on these resources, please view this guide for small business owners, and the House Committee on Small Business' summary of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was signed into law on March 27, 2020.

Please note that faith-based organizations are eligible to apply for SBA loans. For more information, click here.

To apply for a loan, please visit the SBA's website here, or contact the SBA at 1-800-659-2955 or disastercustomerservice@sba.gov

Paycheck Protection Program (PPP)

The Paycheck Protection Program (PPP) offers 100 percent forgivable loans to small businesses to keep their employees on payroll during the COVID-19 crisis. Please view my fact sheet on this program here.

Small businesses and sole proprietorships can apply for and receive loans to cover their payroll and certain other expenses through existing Small Business Administration (SBA) lenders. Starting April 10, 2020, independent contractors and self-employed individuals can apply for and receive loans to cover their payroll and other certain expenses through existing SBA lenders.

This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organizations and 501(c)(19) veterans organizations affected by coronavirus/COVID-19.

You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program. You can find more information here.

The SBA has a tool for finding PPP lenders here.