The “Coronavirus Aid, Relief, and Security Act” (“CARES”) includes $300 mil. in direct relief payments to commercial fishermen and other seafood businesses for losses related to the COVID-19 pandemic. To qualify, a business or individual must have economic revenue losses greater than 35 percent as compared to the prior 5-year average revenue. The U.S. Department of Commerce will provide additional information about how to apply for these funds in the coming days.
The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act recently passed by Congress includes programs for small businesses and individuals suffering economic losses as a result of the COVID-19 pandemic. The “Paycheck Protection Program” (“PPP”) administered by the SBA provides small business job retention loans to provide eight weeks of payroll and certain overhead to keep workers employed. You can find additional information about PPP here. In addition, the SBA offers “Economic Injury Disaster Loans” (“EIDC”). More information on EIDC loans can be found here. The CARES Act also provides unemployment benefits for self-employed individuals and independent contractors who ordinarily don’t qualify. For Washington residents, more information can be found here.
On March 31, Washington Governor Jay Inslee issued interpretive guidance concerning Proclamation 20-25: “Stay Home, Stay Healthy.” According to the guidance, “workers supporting commercial fishing are deemed essential.” The guidance can be found here.