Friday, March 27, 2020

American Legion Posts-The CARES ACT was signed. Is there help for Posts?




Dear District and Post Leadership,

DISCLAIMER: This information is being provided as-is; each American Legion Post is different in scope and operation. We are not making a determination about who might qualify for assistance. Call, email, or write your accountant or local Small Business Administration office for specific information and assistance.

President Trump has signed the $2 Trillion CARES ACT today. This ACT is the third phase of Coronavirus Relief for the American Public and Corporations

Is there help for American Legion Posts in Michigan who have buildings, businesses, and employees?

The answer is maybe.

Governor Whitmer requested that Michigan be designated as an economic disaster state and according to news reports that have been approved. That is a different designation than the one she asked for on Thursday, March 26. 

The economic disaster designation allows small businesses to apply for a low-interest loan or a grant from the Small Business Administration.

The SBA has a website with the application to print here: https://disasterloan.sba.gov/ela/Information/PaperForms

The SBA also provides an online application: https://disasterloan.sba.gov/ela/Information/ApplyOnline

Veteran Service Organizations 501 (c) 19's were placed in the bill the President signed.
The process for any benefits in the CARES Act has not been determined yet.

What would the Department recommend? 
1.      Download and print the disaster loan applications and instructions for the SBA 5, SBA 159D, SBA Form 1368, SBA Form 413D, IRS Form 4506-T, SBA Form 2202, and EIDL Supporting Information (P-019).
2.      Read all the instructions carefully.
3.      Call your local Small Business Administration Office: https://sbdcmichigan.org/small-business-covid19/
4.      Talk to a certified public accountant or your tax preparer.

The CARES Act has programs if a Post has employees, but there are stipulations on those programs.

If you have any questions we encourage you to visit sbdcmichigan.org and speak to a small business specialist.
Sincerely,

Mark Sutton
Public Relations Director
The American Legion Department of Michigan
American Legion Department of Michigan | 212 N. Verlinden Ave, Lansing, MI 48915
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Sent by mark@michiganlegion.org