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Posted on: April 1, 2020

Resources for Businesses

Resources for Businesses

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The City is working around the clock to ensure essential municipal services are maintained while we keep our employees and the public safe. For the benefit of our residents and businesses, we are providing information and links to federal, state, and local resources relating to COVID-19 emergency response operations.  We hope this information hub will help all of our residents, their families, and local businesses to find the critical resources needed in this difficult time.  

Primary Assistance Resources

Business Development Board of Martin County                          

As during any disaster, the Business Development Board of Martin County stands ready to help your business navigate the local, regional, state and national resources here to help you prepare, maintain business continuity and recover, if needed. For more information, visit: https://bdbmc.org/covid-19-biz-hub/

Call the BDB of MC at 772.221.1380 or email at info@bdbmc.org with your questions or needs.

Florida Small Business Emergency Loan Program

Small Businesses Impacted by COVID 19: www.floridadisasterloan.org

  • Designated Disaster Areas: All Florida counties statewide per Executive Order 20-52.
  • Qualified Applicant: Applications will be accepted by qualified for-profit, privately held small businesses that maintain a place of business in the state of Florida. All qualified applicants must have been established prior to March 9, 2020, and suffered economic injury as a result of the designated disaster. Qualified small business applicants must be an employer business with 2 to 100 employees.
  • Amount: Up to $50,000 per eligible small business.  Loans of up to $100,000 may be made in special cases as warranted by the need of the eligible small business.
  • Term: 1 year.
  • Limitation: Only one loan may be made per eligible business. All previous bridge loans received MUST be paid in full.
  • Interest Rate: Loans will be interest-free for the loan term (1 year). The Interest rate will be 12% per annum on the unpaid balance thereafter, until the loan balance is repaid in full.  Loan default is subject to a normal commercial collection process.
  • Application Period: Applications will be accepted by qualified Florida small businesses under this program through May 8, 2020, contingent on the availability of funds.        

For questions regarding the Emergency Bridge Loan Program, please contact the Florida Department of Economic Opportunity toll-free at (833) 832-4494 or by email at: FloridaBusinessLoanFund@deo.myflorida.com.    

Small Business Lenders: https://www.sbalenders.com/top-sba-lenders-florida/ 

CARES ACT                          

Congress’s latest coronavirus relief package, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, is the largest economic relief bill in U.S. history and will allocate $2.2 trillion in support to individuals and businesses affected by the pandemic and economic downturn.  https://taxfoundation.org/cares-act-senate-coronavirus-bill-economic-relief-plan/

  • Allocates up to $500 billion for assistance to eligible businesses, states, and municipalities, with not more than $25 billion designated for passenger air carriers, not more than $4 billion for air cargo carriers, and not more than $17 billion for businesses critical to maintaining national security.
  • Creates a $349 billion loan program for small businesses with funds available for loans originated from February 15 through June 30, 2020.
  • Allocates $130 billion in relief to the medical and hospital industries.
  • Provides credits against the 2020 personal income tax for eligible individuals who are neither nonresident aliens nor claimed as dependents by another taxpayer.
  • $1,200 to each individual or $2,400 to each married couple filing jointly, and
  • $500 for each dependent who is a qualifying child under age 17 as of December 31, 2020.
  • The credits are reduced, but not below zero, by each 5 percent of so much of the taxpayers’ adjusted gross income as exceeds $150,000 for a joint return; $112,500 for a head of household; or $75,000 for other taxpayers.
  • Expands eligibility for unemployment insurance and provides people with an additional $600 per week on top of the unemployment amount determined by each state and freelancers are covered by unemployment insurance for the first time.\
  • Expands telehealth services in Medicare.
  • Provides the Secretary of the Treasury with the authority to make loans or loan guarantees to states, municipalities, and eligible businesses.

Tax Credits
The Tax Foundation has prepared an overview of the various tax credits available through the FFCRA and CARES Acts. Please click here to view: https://taxfoundation.org/cares-act-senate-coronavirus-bill-economic-relief-plan/


General Info

Florida Business Damage Assessment Survey

Can be taken online at https://floridadisaster.biz/

CareerSource Research Coast (CSRC)  

Martin, St. Lucie and Indian River Counties is now 100% virtual. To receive assistance with job services, unemployment assistance or business services, call the CSRC team toll free at 866-4U2-HIRE (866 482-4473), www.careersourcerc.com

Major Retailing: 

Many major retailers have announced temporary closures, adjusted hours, or precautions imposed in order to prevent the spread of COVID-19, and to keep their employees and communities safe. https://www.icsc.com/coronavirus/retailer-updates

Treasure Coast Mall 

Temporarily closed - began March 18 until further notice: https://temporarilyclosedcovid-19updat.splashthat.com/


Other Business Resources

Price Gouging: www.myfloridalegal.com or call 1 (866) 9NO-SCAM

Re-employment Assistance: www.floridajobs.org

Small Business Loans: www.floridadisasterloan.org

Tax Relief: www.irs.gov/coronavirus 

Business Development Board of MC: https://bdbmc.org/covid-19-biz-hub/

Martin County Dining: https://www.diningatadistance.com/martin-county

Discover Martin County General Info: http://www.protectourparadise.com/ 

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