Message to Tenants
At Longpoint Realty Partners (LRP), we are committed to the health and safety of our tenants, their employees, and the communities in which our properties are located.
LRP understands that navigating your business during this crisis is a difficult task, and we are here to serve as your partner during this challenging time. While every situation is unique, we have gathered and posted useful information below, including links to resources available on the national, state, and local levels. We encourage you to visit these links to find out what support may be available to you, and also to share with us any additional resources you have found so that we can post them here for the benefit of other tenants.
If you’re unsure of what kind of support you need in making COVID-19-related changes to your business, LRP is here to help and, based on your situation, may be able to introduce you to attorneys and accountants who can further assist you.
For more information, please reach out to your Longpoint Property Manager. Also, if any of the occupants in your premises are diagnosed with COVID-19, please be sure to follow the guidance of the CDC and notify the relevant public health authorities promptly. We also request that you notify your property manager so that LRP can take appropriate steps and monitor the situation accordingly.
FEDERAL RESOURCES
Various lending options are available depending on your needs and timing. We encourage you to research your options.
CARES ACT
On Friday, March 27, 2020 President Donald Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a $2.2 trillion package providing relief to individuals and businesses impacted by the Coronavirus outbreak. The act allocates an estimated $560 billion of cash payments and additional unemployment benefits for individuals, $339.8 billion for state and local governments, $500 billion for large corporations, $377 billion for small business relief loans and grants, and $223 billion for organizations related to education, public health, and other categories.
Included in the CARES stimulus package is approximately $349 billion for a business loan program to be administered by the US Small Business Administration (SBA), designed to bolster the financial status of small businesses and their employees and enable them to persevere through this period of economic hardship. SBA Section 7(a) loans are commonly available through banks and other lenders, and the CARES Act expands on this lending platform through a new loan program – the “Paycheck Protection Program.” The program, which is aimed at small and mid-size businesses including franchisors and franchisees, can be used for payroll support, paid sick or medical leave, employee salaries, mortgage, rent, and utility payments, insurance premiums, and other debt obligations. For more information, check with your local lender or other banking partners with whom you have existing relationships.
PROGRAM OVERVIEW
Overview of the benefits offered by this program, eligibility, and additional lending information.
Additional resources
through the SBA
The SBA’s Disaster Loan Assistance program is another federally backed small business loan program. Funds from these loans may be used to pay fixed debts, payroll, accounts payable, and other bills.
Learn moreSBA’s Local Assistance Directory – search for local counseling, mentoring, and training services.
STATE RESOURCES
Several states offer guidance and assistance for businesses impacted by COVID-19. See below for relevant state government links:
FLORIDA
Small Business Emergency Bridge Loan Program
FLORIDA
Florida SBDC Network
GEORGIA
State Guidance for Businesses
GEORGIA
Georgia Department of Economic Development
MARYLAND
Maryland Emergency Relief Funds
MARYLAND
Chamber of Commerce Resources
Massachusetts
Massachusetts Executive Office of Housing & Economic Development
Massachusetts
Philanthropy Massachusetts Disaster & Emergency Relief Resources
New Jersey
State Emergency Assistance
Tennessee
Department of Economic & Community Development Resources
Texas
Texas Economic Development
Operational Resources
These businesses that specialize in marketing are providing grants to businesses through this time:
HEALTH RESOURCES
CDC GUIDANCE
To help your business combat the spread of germs
Learn more
DISCLAIMER
Please note that we are providing the resources on this page as a courtesy to our tenants. The materials located on this webpage and in the links provided are for informational purposes only, are general in nature, and should be construed as citations for further information only in order to help you identify and locate other resources that may be of interest. Information provided on this webpage or in the links provided is not exhaustive, may not constitute the most up-to-date information, does not constitute legal or other professional advice, is not intended to create a legal, medical or fiduciary relationship between you and Longpoint, and is not intended to constitute an endorsement by Longpoint. The content on this webpage and in the links provided is provided “as is”, and no representations are made that the content on this webpage or in the links provided is accurate, applicable or error-free. You should not act or refrain from acting on the basis of any content included on this webpage or in the links provided without seeking independent professional advice from your legal, tax or other professional advisors. Longpoint disclaims any liability arising from the use, inability to use, or failure to use any information or materials contained on this webpage or in the links provided, or any other actions taken or not taken based on any content on this webpage or in the links provided.