Essential Business Resources to Respond to Coronavirus and COVID-19

O’Connor Insurance is committed to you and to our community. We have built a bank of credible websites that go straight to information we all need as business owners. We will be adding resources to it constantly so check back when you have time.

Economic Impact Payments from the IRS

• Questions about the payments
  • https://www.irs.gov/coronavirus/economic-impact-payment-information-center
• Check your payment status, confirm your payment type and update your bank information for direct deposit
  • https://www.irs.gov/coronavirus/economic-impact-payments

Families First Coronavirus Response Act (FFCRA or Act)

• This is effective 15 days after enactment from March 18, 2020 to December 31, 2020.
• It is very important for you to understand there are tax credits for employers that have employees exercise the Paid Sick and/or Paid Family and Medical Leave. Therefore, you need to consult with your accountant to make sure you get the tax credits. In conclusion, this information is very important for you to understand and share with your employees.
• https://www.dol.gov/agencies/whd/pandemic/ffcra-employer-paid-leave

Employee Rights Poster

• This has to be posted or emailed if your workforce is remote.
• https://www.dol.gov/sites/dolgov/files/WHD/posters/FFCRA_Poster_WH1422_Non-Federal.pdf

SBA Emergency Loans

• North Carolina Non-Profit
  • BEFCOR is a non-profit economic development lender in North Carolina. They are licensed with the SBA. We have used them in the past for O’Connor Insurance property loans. Please check out what they have available. We were notified earlier today they have some emergency loans available. However, the money is going quickly.
  • https://www.befcor.com/
• SBA Disaster Assistance
  • https://disasterloan.sba.gov/ela/Declarations/Index
• Paycheck Protection Program
  • https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp 
• Need to apply find a lender
  • https://www.sba.gov/paycheckprotection/find

Subscribe to CDC Updates

• Here, you can subscribe for a particular topic. Therefore, if you select Coronavirus you will only get CDC emails regarding that. You will also receive updates for that, as well.
• https://www.cdc.gov/other/emailupdates/

Department of Labor (DOL) OSHA Guidelines

• https://www.osha.gov/SLTC/covid-19/
• DOG Workplace Safety (links you to OHSH Guidance) https://www.dol.gov/coronavirus.

Google My Business

• Business profiles can be updated with any changes you have made as a result of Coronavirus (COVID-19).
• https://support.google.com/business/answer/9773423?p=covid&visit_id=637209268543323855-3084221727&rd=1.
• Log into your page or if you need to create a page you can start here:  https://www.google.com/business/.

Leading a Virtual Team

• A business friend and colleague of ours has started Julie Bee’s Lead from Anywhere to assist us all in managing our teams.
  • Facebook – https://www.facebook.com/groups/leadfromanywhere/
  • YouTube – https://www.youtube.com/channel/UCh7qczN4SkkqaxRNuYmKL7Q/
  • iTunes – https://bit.ly/LFAiTunesPodcast
  • Google Podcasts – http://bit.ly/LFAGooglePodcast
  • Spreaker (Podcast) – https://www.spreaker.com/show/lead-from-anywhere

City of Charlotte Business Resources

• Open for Business Initiative – All small businesses are invited to register today to be included in the Open for Business directory of Charlotte small businesses (even if you are not open yet you should register) https://openforbusinessdashboard-charlotte.hub.arcgis.com/
• **You have to create an account first by clicking on Register. Then select “No account? Create a City of Charlotte NC Community Hub account.” If you need help reach out to Michelle in our office at .

Local, State & Federal Resources

• Charlotte, NC & Federal Resources – There are a number of grants and emergency recovery loans you can apply for review this list to see what you might be eligible for. https://charlottenc.gov/covid19/Pages/smallbusiness.aspx

Commercial Auto Insurers to Provide Dividend Payout AND Annual Rate Reduction

• Erie Insurance Group announced this week they will provide a dividend payout to customers who had a commercial auto policy (fleet and non-fleet policies only) and personal auto policy in force as of April 1st, 2020. The dividend will be mailed in mid-May. It will represent approximately 30% of two months premium which equates to 5% of your annual premium. To calculate the approximate divided, you can take your annual premium as of April, 1st multiply it by .30 and divide it by 6. Erie is waiting on final approval from the Department of Insurance in each state it operates and upon approval will distribute checks.
• Erie Insurance Group is filing for permanent rate reductions of approximately 5%. The rate reductions have not been yet been approved by the various Departments of Insurance in each state Erie operates. Upon approval this rate reduction will take place when your policy renews. We will keep you informed as more information becomes available to us. This is designed to assist with the on-going hardship this crisis has created.