COVID-19 Resources for Tenants

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.

The SBA resumed accepting Paycheck Protection Program applications from participating lenders on Monday, April 27, 2020 at 10:30am EDT.

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.

Eligible businesses:

Up to 15,000 employees OR
2019 revenue less than $5 billion

Loan features:

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

Guidance

SBA’s Local Assistance Directory – search locally for counseling, mentoring & training needs
Guidance for Businesses and Employers
SBA Products and Services

State Programs

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

Local Programs

A list of local (Toledo) area programs is available through The Toledo Chamber of Commerce.

Bank Programs

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
Kiva is a nonprofit that loans provides 0% interest loans for U.S. entrepreneurs through crowdfunding sources.