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FROM THE DESK OF THE INTERNATIONAL DIRECTOR OF BIGGER AND BETTER BUSINESS
Brothers:
We know that this is an unprecedented time of uncertainty and anxiety for our brotherhood and the communities that we serve. Some of us are suffering from job losses, furloughs and reduced hours and damages to our businesses. However, through Unemployment benefits and the Coronavirus Aid, Relief and Economic Security Act (CARES), help is on the way.
Direct Payments
The federal government will be making one-time cash payments directly to citizens. These payments should be issues this month (April) by either check or direct deposit. How much will you receive?
- Individuals earning less than $75,000 will receive $1200
- Married couples earning less than $150,000 will receive $2400
- If you have children, you will receive $500 per child
- Individuals classified as “head of household earning less than $112,500 will receive $1200
- Individuals earning more than $75,000 and less than $99,000 and couples earning more than $150,000 and less than $198,000 are eligible for a lesser amount
Enhanced Unemployment
If you have lost your job, you can apply for state unemployment benefits. You can find a direct link to your state by unemployment website by searching the following:
https://www.careerstop.org/localHelp/UnemploymentBenefits/unemployment-benefits.aspx
Congress has enhanced state unemployment to provide more income to cover more people.
- Adds $600 per week for four months on top of the state unemployment
- Adds up to 13 weeks of additional unemployment benefits to those already enrolled, but who are nearing the need of benefits
- Expands the program to include several workers not normally eligible to receive unemployment benefits. This includes:
- Freelancers
- Independent contractors/gig workers
- Self-employed
- Those with limited work history
- Employees who are still employed, but those hours have been reduced
It is important to apply as soon as possible. To help expedite aid, the federal government is funding the first week of benefits to encourage state to waive traditional waiting periods, but it may still take a couple of weeks to be processed,
Small Business Support
Small businesses are experiencing one of the most difficult times in U.S. History. Our nation’s health and economic well-being is at risk. We hope that you and your families are safe, healthy and economically stable. During this time, small businesses are at risk of going bankrupt, shutting down and laying off workers. As a result, Congress and the President have signed into law the Coronavirus Aid, Relief and Economic Security Act (CARES) on last Friday. CARES will provide $349 billion in funding for small businesses through the Paycheck Protection Program, Emergency Economic Injury Grant, SBA Economic Injury Disaster Loans, Employee Retention Tax Credit and Small Business Debt Relief Program. We would like you to pass along this communication to all small businesses in the communities that we serve.
Bro. Reginald Sluch
International Director of Bigger & Better Business
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