Five Financial Resources to help during Covid19

Whether you are an individual, small business owner or employee, here are a few financial resources that can assist you during this time.

Meal Assistance Program for New Orleans’ residents

If you reside in the New Orleans area, you may be eligible to receive meal assistance. The City of New Orleans has partnered with FEMA to provide much-needed meals to the community. The program offers up to 30 days of meals for seniors, children under 18, homeless residents. Also, it provides meals for those who have tested positive for Covid19. To qualify, you are requested to apply online or call 311 for more information.

Rental Payment Assistance 

Just recently announced, the LOUISIANA EMERGENCY RENTAL ASSISTANCE PROGRAM was established to assist residents with past due and future rental payments. To qualify, you must reside in a rental property in Louisiana, have a current lease, experienced a reduction in income due to Covid19, meet certain income thresholds, and are facing eviction. As of now, the program has been overwhelmed by applications, but participants can sign up for notification when the program will reopen again here.

Small business grants 

The State of Louisiana is providing grants to businesses for up to $15,000 starting July 28. Companies are required to meet specific criteria. This criteria includes having 50 or less full-time employees as of March 1, experienced an interruption of business, owned by at least 50% or more Louisiana residents, filed taxes previously (2018 or 2019) or will file, have customers or employees visit a physical location and other criteria. Funds will not need to be repaid and can be utilized for qualified business expenses. Businesses who received funding from the payroll protection program, SBA’s economic injury disaster loan, or business interruption insurance will have to wait 21 days after the start of the program to apply. To find more information, visit here. 

Paycheck Protection Program

If you have yet to apply for the paycheck protection program, time is winding down. Businesses and nonprofits have until August 8 to apply for the program. Keep in mind that this program is available not only to business entities with employees, but also to 1099 workers, freelancers, and artists. Participants should contact their financial institutions or seek out nontraditional (online) banks for the program. Remember, the funds are forgivable if the money is used toward qualified expenses.

Unemployment benefits 

It is not too late to apply for unemployment benefits if needed. Many who are receiving unemployment benefits are also receiving the additional $600 pandemic unemployment assistance. While the extra $600 amount is scheduled to expire by July 31 (unless Congress acts), those currently receiving unemployment benefits will continue to receive regular state unemployment benefits until their benefits expire. It is also important to note that if you qualify for unemployment benefits but have yet to apply, you can receive retroactive benefits. For more information, check out your state’s labor office. 

Remember, your choice, your future!!!

Continue to read Psalm 91 during this time!  For more tips, subscribe to #kemcents YouTube channel. Kemberley Washington, CPA, is a best seller author, news contributor and owner of Washington CPA Services, LLC. She contributes to her blog Kemberley.com and 21daysof.com.

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