Effective Date – January 11, 2021
Merlone Geier Partners continues to monitor the situation surrounding the coronavirus (COVID-19) pandemic. The health and wellbeing of our tenants and their patrons during this time are our priorities. We have provided the information below to help tenants address some of the challenges created by COVID-19. We will update this site as new information and resources become available.
Health & Safety Information
We encourage tenants to keep up to date on the latest information and guidelines provided by the Centers for Disease Control & Prevention (CDC). Below are links to guidance on preventing exposure and maintaining healthy business operations during the coronavirus pandemic.
- Guidance for Business and Employers to Plan and Respond to COVID-19
- Environmental Cleaning & Disinfection Recommendations
- Preparing Workplaces for COVID-19
In the event of a confirmed COVID-19 case at your location, we ask that you contact your property manager immediately after reporting the COVID-19 infection to health officials.
Financial relief programs and other resources for businesses and individuals impacted by the COVID-19 pandemic are available at the national, state and local level. We have provided the information below to help you explore the various resources available to you.
Paycheck Protection Loan Program
The Consolidated Appropriations Act was signed into law on December 27, 2020 and allocates $284 billion in government funding to renew the Paycheck Protection Program (“PPP”) that was established under the CARES Act in 2020. The PPP provides 100% federally guaranteed loans to small businesses and non-profits. These funds can be used for payroll costs, rent, mortgage payments, utility expenses, and other qualifying business expenses. PPP loans are forgivable if borrowers maintain their payrolls or restore their payrolls within a specific time period. Both first-time borrowers and borrowers who previously received PPP loans are eligible to apply for loans under the renewed program. We have provided a summary of the loan program at the link below as well as links to other resources.
Main Street Lending Program
The Federal Reserve has created a new lending facility to provide financing to small and medium sized businesses affected by the coronavirus pandemic. This Main Street Lending Program will fund up to $600 billion in loans to businesses with up to 15,000 employees or less than $2.5 billion in annual revenues. Loans will have 4-year terms and all payments will be deferred for 1 year.
SBA Economic Injury Disaster Loan Program
The U.S. Small Business Association (SBA) is providing working capital loans of up to $2mm to businesses that have suffered economic injury as a result of the COVID-19. Funds can be used to cover fixed debts, payroll, accounts payable, and other bills that the coronavirus has affected your ability to pay.
State & Local Resources
States and municipalities are continually adding new programs to help relieve the financial impact of COVID-19 on businesses and individuals. We encourage you to visit your state and local government websites for information on available resources. Below are links to information on business resources for the states in which Merlone Geier Partners operates.
- California Small Business Relief Grant Program – A program providing grants from $5,000 to $25,000 to small businesses impacted by COVID-19. Information on program eligibility and how to apply for a grant can be found here. Applications will be accepted until February 8, 2021.
- California Business Resources
- Small Business Finance Center
Additional Information & Resources
General Information & Updates
- ICSC: COVID-19 Updates for the Retail Industry
- US Chamber of Commerce: Coronavirus Small Business Guide
- US Department of Labor: Coronavirus Resources