Finding the ‘New Normal!’

Story by STEVE TRAIMAN

As businesses and residents in the Paradise News readership area slowly come back in focus in the pandemic slowdown, there are many local, county, state and federal resources still available to all. At the same time, your personal and business credit ratings have never been more important in applying for loans for any major purchase.

Supplying some good input this month are Doug Izzo, Legislative Affairs Director, Tampa Bay Beaches Chamber of Commerce, and Kim Harestad, Senior Loan Originator, VanDyk Mortgage.

Izzo told Paradise News, “Your Tampa Bay Beaches Chamber of Commerce (TBCoC) has been working tirelessly to support the business community. The TBBCoC has been and will continue to work with local, county, state and federal officials in an effort to provide important information and financial relief. 

“There was a lot of confusion at the start of the pandemic. This was an unprecedented event that no one was ready for. Regulations and operating procedures were changing at a rapid pace. As new information came out daily, if not hourly, the TBBCoC made it a priority to obtain the information, sift through it, simplify it and get it out to the business community in a timely manner.

“While the TBBCoC will continue to advocate for the business community, see below for current business relief and assistance.”

Local:

• Waived annual business license fees
• Waived ordinances and fees to allow for outdoor seating
• Waived ordinances to allow for additional signage
• Some of our businesses have suffered worse than others. Bars and breweries were first ordered to close in April. After a brief opening, they were required to close again and remain closed since June 26^th. Bars and breweries were required to close if they did not have a food license. The TBBCoC worked with local bars and breweries helping them apply for food licenses so they could open. Since then, DBPR has announced bars may open at 50% occupancy starting September 14^th. 
• The above fees and ordinances vary depending on municipality. For questions call 727-360-6957. 

County:

• Pinellas County CARES Business Grant – This is round two of county grant funding. If you already applied before June 30^th, you now may be eligible to apply again. 
  • Eligible businesses may receive up to $10,000 in funding.
  • Homebased businesses now eligible.
  • The TBBCoC is a Navigator and can answer and assist in the application process. 
  • For more information and to apply, visit www.tampabaybeaches.com/coronavirus 

State:

• Economic Injury Disaster Loan (EIDL) – EIDL proceeds can be used to cover a wide array of working capital and normal operating expenses, such as continuation to health care benefits, rent, utilities, and fixed debt payments.
  • Small businesses with less than 500 employees, sole pro-prietorships, independent contractors, self-employed persons, private non-profit organizations, or 501(c)(19) veterans organizations affected by COVID-19 are eligible.
  • You can apply for both EDL and PPP — you just can’t use the funds for the same purpose.
  • For more information and to apply, visit www.tampabaybeaches.com/coronavirus 
• Unemployment – Individuals unable to obtain unemployment contacted the TBBCoC and were connected with state officials who were able to expedite the process and got people their unemployment.
• The TBBCoC is actively working with state officials to waive the interest on past due property taxes and set up payment plans.
• The TBBCoC is actively working with state officials to provide abatement on alcohol license fees for bars and breweries that were ordered closed. 

Federal: 

• Paycheck Protection Plan (PPP) – The PPP is a forgivable businesses loan. At least 60% of the funds must be used to pay and retain employees. Up to 40% of the funds can be used for rent and utilities. 
• Small businesses with 500 or fewer employees, 501(c)(3) sole proprietor, independent contractor, self-employed or 501(c)(19) veterans organizations are eligible.
• The deadline to submit applications ended August 8^th. However, the TBBCoC is advocating for the renewal of this program. 
• Congress is currently debating legislation that would extend this program. A final decision has not been made at the time this was written.

Izzo summarized, “PPE Suppliers, Guidelines on operating, posters, signs, COVID Dashboard and more resources can be found at www.TampaBayBeaches.com/coronavirus.

VITAL CREDIT RATING TIPS

Kim Harestad, VanDyk Mortgage, provided this excellent insight on “How Credit Will Affect Your Future Buying Power.”

She told Paradise News, “Your credit score and report play a large role in the amount of purchasing power you have, especially involving large purchases.  When it comes to financing big ticket items like your family home, a new car or truck, or business equipment, a lender will want to view your credit report to see how you have handled debt in the past. 

“When it comes to applying for your mortgage or other large purchase, typical financially responsible habits such as consolidating debt onto fewer credit cards, closing credit accounts you haven’t used in a while or paying off any collections or charge accounts can actually appear as red flags to your lender. 

“These red flags can ultimately lead to denials, which means you will need to have a larger amount of cash up front to convince your lender that allowing you to finance is not a huge risk. 

“A higher credit score gives your lender faith that you will be able to handle the responsibility of an additional loan. The higher your score, the more likely you are to be approved for increased amounts of financing due to a positive track record. 

“Certain activities like joining a credit watch program, staying current on existing accounts, disclosing all debt, and consistently filing all tax returns makes you look more financially responsible and less of a risk to your lender.  Having a higher credit score can also make you eligible for lower interest rates on your loan that are not available to all financers.

“Related to watching your credit, everyone is entitled to a free annual look at your credit report from www.AnnualCreditReport.com, and one free report annually from each of the three major services: Equifax, Experian and TransUnion.

“When it comes to your mortgage, a higher credit score can increase the amount you are approved to borrow, ultimately effecting the total cost of your mortgage. For all your questions about your purchasing power, contact me today to discuss the steps to get you into your new home.  Email to kharestad@vandykmortgage.com.”

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KEY TBB / CHAMBER RESOURCES

Excellent resources for PPE Suppliers, Guidelines on operating, posters, signs, COVID Dashboard and more can be found at www.TampaBayBeaches.com/coronavirus

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BUSINESS GRANTS & LOANS:

GRANTS

• Pinellas County Business Grant – Apply Here – Round 2 up to $10,000
• Pinellas County Business Grant – Eligible Businesses
• Grants for Restaurants & Workers – From Southern Smoke
• Debt Relief – SBA loans prior to COVID-19 will be forgiven

LOANS

• Emergency Injury Disaster Loan (EIDL) – Guide
• Emergency Injury Disaster Loan – Apply Online

NEW GUIDELINES FOR OPERATING:

• CDC Guidelines and FDOH Guidelines for Events
• Sick Staff Preparation, Response & Return to Work – From FL Chamber
• Reopening Guidance – From National Restaurant Assoc.
• Customers Guide for Social
• Distancing – From Visit
• St. Pete/Clearwater
• Mass Gathering Guidance – From CDC
• Customizable Poster – From US Chamber
• Workplace Posters – From CDC
• Employee/Customer Screening Sheet – From TBBCoC
• Procedures If Employee Contracts COVID-19 – From FRLA

RESOURCES FOR OPERATING:

• The chamber is distributing free masks – Call 727-360-6957
• Get Supplies Needed for Your Businesses to Operate – From TBBCoC
• Members Helping Members  – From TBBCoC
• 19% OFF waterproof/easy to clean printing options – From Florida Print Solutions
• Work From Home Relief Kit – From DEX Imaging
• Crisis Management for Businesses – From Google

REOPEN – RECOVERY – REIMAGINE:

• Reopening Florida Phased Plan – From Governor DeSantis
• Reopening America Phased Plan – From President Trump
• Steps to Open Your Business – From Florida Chamber of Commerce
• Accommodations – Things you can do now to get you ready to reopen
• Restaurants & Bars – Things you can do now to get you ready to reopen
• General Businesses – Things you can do now to get you ready to reopen
• Hospitality Reopening Guide – From Florida Restaurant & Lodging Assoc.

EMPLOYEE RESOURCES:

• Unemployment Application (Apply Online) *NEW SITE*
• Unemployment Application (Apply by Mail)
• Step by Step Instructions – How to Apply for Unemployment
• Gig worker, Independent
• Contractors and Self Employed – Apply for Unemployment
• Grants for Restaurants Workers – From Southern Smoke
• Short Time Compensation Program
• Temporary Layoff Assistance
• Reemployment Assistance
• Grants for Hospitality Workers

TRAVELER RESOURCES:

• Businesses are OPEN *Some restrictions may apply
• Beaches are OPEN
• Hotels, motels and vacation rentals are OPEN
• Large events and theme parks/attractions are OPEN
• Destination Updates – From St. Pete/Clearwater
• Information for Travel – From the CDC
• Tampa International Airport’s update on increased cleaning and sanitation efforts.

TOURISM INDUSTRY RESOURCES:

• Coronavirus Tourism Impacts – From VISIT FLORIDA
• Travel Industry Updates – From Sojern
• Economic Impact Study – From Oxford Economics
• Coronavirus Dashboard – From Florida Department of Health
• Key planning recommendations for    Mass Gatherings – From the World Health Organization
• Brighter Days Ahead Toolkit – From VSPC
• VISIT FLORIDA Resources

RESTAURANT & BAR RESOURCES:

• Brewery/Restaurant Reopening – From Brewers Association
• Get Paid to Prepare Food for Those in Need Stimulus Information Specific to Restaurants & Bars -Call Center
• FAQs for Restaurants Bars & Nightclubs – From DBPR
• Restaurants & Bars – Things you can do now to get you ready to reopen

MENTAL HEALTH & ASSISTANCE

• Chat Line – From Pinellas County
• Recommendations – From CDC

ADDITIONAL RESOURCES:

• Official COVID-19 Page – From CDC
• COVID-19 Cases – From FDOH
• Toolkits Including Talking Points – From U.S. Travel
• Disaster Prep and Recovery Tools – From County Economic Development
• Florida Chamber of Commerce Coronavirus Resources US Chamber of Commerce Resources

[Editor’s Note: Special thanks to Doug Izzo Tampa Bay Beaches Chamber of Commerce, and Kim Harestad, VanDyk Mortgage, for their excellent comments.]

[Steve Traiman is President of Creative Copy by Steve Traiman, St. Pete Beach, providing business writing services at traimancreativecopy@gmail.com or by phone to 727-363-7531.]