Resources available to help you navigate this crisis
In this unprecedented time, our motto stays the same, “our tenants’ success is our success.” Eidi Properties is committed to finding and providing resources and opportunities to help you navigate this crisis, stay connected with your customers and your community, and arrive ready to thrive on the other side. We continually update this list of resources as the situation evolves.
Financial & Business Resources
Paycheck Protection Program (PPP): The PPP is designed to provide a direct incentive for small businesses to keep their workers on the payroll. Another round of funding has been allocated and is now accepting applications from participating lenders. If you did not have an existing banking relationship, it was difficult to obtain a loan during the initial round.
Main Street Lending Program: The Federal Reserve is expected to rollout a comprehensive $600 billion Main Street Lending Program, which is specifically designed to support small and medium-sized businesses. Importantly, participation in the Paycheck Protection Program does not limit your participation in the Main Street Lending Program.
- Up to 15,000 employees OR
- 2019 revenue less than $5 billion
- Unsecured term loan
- 4-year maturity
- Amortization of principal and interest deferred for one year
- Adjustable rate of SOFR + 250-400 basis points
- Minimum loan size: $500,000
- Maximum loan size: the lesser of (i) $25 million or (ii) an amount that, when added to the Eligible Borrower’s existing outstanding and committed but undrawn debt, does not exceed four times the Eligible Borrower’s 2019 earnings before interest, taxes, depreciation, and amortization (“EBITDA”)
- Prepayment permitted without penalty
Click here for more information about the program. Check with your local lender or existing banking relationships.
The Small Business Association (SBA) has created a comprehensive Coronavirus page with all of its resources in one place.
Access to Capital
- Express Bridge Loan – expedited SBA-guaranteed bridge loan financing up to $25,000
- SBA’s Local Assistance Directory – search locally for counseling, mentoring & training needs
- Guidance for Businesses and Employers
- SBA Products and Services
Several states offer guidance and assistance for businesses impacted by COVID-19. Link to your local and state government websites.
- Ohio – Northeast: COVID-19 Emergency Loan
A list of local (Toledo) area programs is available through The Toledo Chamber of Commerce.
Some banks are offering relief to customers and businesses (list as of 4/13/2020).
The Internal Revenue Service has extended the deadline for filing federal income tax returns to July 15, 2020.
GoFundMe Small Business Relief Fund
GoFundMe will issue $500 matching grants to qualifying businesses that raise at least $500 on GoFundMe.com.
Google Ad Credits
Google is offering $340M in Google Ad credits to small businesses who have been advertisers since the beginning of 2019.
Hello Alice Emergency Grant
Hello Alice is offering $10,000 grants being distributed immediately to small business owners impacted by coronavirus.
Kiva is a nonprofit that loans provides 0% interest loans for U.S. entrepreneurs through crowdfunding sources.
Restaurant & Bar Assistance
Financial Resources for Businesses & Employees
- California Restaurant Association Foundation: Restaurants Care/COVID-19 Grant
- Southern Smoke: Emergency Relief Program
- USBG Foundation: Bartender Emergency Assistance Program
Gift Card Sales – Register your gift card program at www.rallyforrestaurants.com and promote via social media using #rallyforrestaurants.
Yelp is offering $25M in relief to restaurants and bars. Click here for details.
Preparing to Re-open
- ICSC – COVID-19 Re-Opening Best Practices
- Streetsense – Pandemic Relaunch Toolkit for Bars & Restaurants
- National Retail Federation – Operation Open Doors Checklist
- The Food Industry Association – Disinfection for High-Touch Surfaces
- OSHA – Safety Guidelines for Restaurants
CDC Guidance to help your business combat the spread of germs
- Interim Guidance for Businesses and Employers
- Factsheet Posters to Print out
- State & Territorial Health Department Websites