COVID-19 Business Resources
Navigating through the COVID-19 crisis as a business owner can be nothing short of difficult. Please keep checking this page as we will continuously update it with pertinent information relevant to your business.
Main Street Lending Program
The Federal Reserve established the Main Street Lending Program to support small and medium-sized businesses and nonprofit organizations that were in sound financial condition
before the onset of the COVID-19 pandemic. If you participate in the Paycheck Protection Program, you may also apply for Main Street Lending.
Small and medium-sized businesses interested in the Program can apply for Program loans by contacting an eligible lender. More information for qualified borrowers, including a listing of registered lenders accepting new customers and have elected to be listed, can be found on the Federal Reserve Bank of Boston Information for Borrowers website.
|New Loan Facility||Priority Loan Facility||Expanded Loan Facility|
|Loan Term||5 years|
|Principal Payments||Principal is deferred for two years.|
Years 3-5: 15%, 15%, 70%
|Interest Payments||Deferred for one year|
|Interest Rate||Adjustable-rate of LIBOR (1 or 3 mo.) plus 300 basis points.|
to $35 million
to $50 million
to $300 million
|Maximum Combined Debt to Adjusted 2019 EBITDA||4 times||6 times||6 times|
|Lender Participation Rate||5%|
|Fed Participation Rate||95%|
|Prepayment Allowed||Yes, without penalty|
|Business Size Limits||15,000 employees or fewer, or 2019 revenues of $5 billion or less|
|Fees||Origination and transaction fees may apply|
In addition to traditional SBA funding programs, the CARES Act established several new temporary programs to address the COVID-19 outbreak.
Regency Centers hosted a webinar with the National Federation of Independent Businesses (NFIB) that answers your questions on the program and funding.
Paycheck Protection Program
Provides an incentive for small businesses to keep their workers on the payroll.
Did You Receive a PPP Loan?
Apply for forgiveness at PPP.BANK, a free, secure resource for small businesses.
SBA Express Bridge Loan
Enables small businesses who have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
SBA Debt Relief
The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic.
BE AWARE! The Internal Revenue Service has issued a warning that scammers are already trying to take advantage of the Coronavirus Aid, Relief, and Economic Security Act (CARES act)... read more
Small Business Resources Guide
SBA: Small Business Guidance & Loan Resources
Please visit the SBA website for guidance for businesses and employers impacted by COVID-19.
Your Money And Coronavirus: A Financial Protection Guide
This Forbes guide aims to cut through the confusion and help you protect your finances in these uncertain times.
I’m Not Certain What to Do and Need Some Guidance
The SBA’s Local Assistance Directory can connect you to several local partners to counsel, mentor, and train small businesses.
What is My State Doing?
Several states are beginning to offer guidance and assistance for businesses and individuals impacted by COVID-19. You can access such information through your local and state government websites.
What the Federal Government is Doing?
The Internal Revenue Service has issued a warning that scammers are already trying to take advantage of the Coronavirus Aid, Relief, and Economic Security Act (CARES act). The IRS plans to use previous tax return information to deposit the stimulus money into your account or send you a paper check as an alternative.
The IRS offered tips on how to identify fraudulent emails or call, emphasizing that any communication from the IRS will describe the funds as an "economic impact payment," not a "stimulus check."
- Don't "verify information:" Scammers may try to get you to "verify" your filing information in order to receive an economic impact payment. They will use your personal information at a later date to file false tax returns.
- Don't provide bank or Paypal account information: The IRS will not call and ask you to verify your payment details. Do not give out your bank account, debit account, or PayPal account information - even if someone claims it's necessary to get your check. It's a scam.
- Don't click on email or text links with claims about getting money faster: Delete the email or text as it is a scam.
- Be skeptical about checks you may receive now, especially if it is for an uneven amount or includes cents: If you receive a "check" in the mail now, it's a fraud - it will take the Treasury a few weeks to mail out the economic impact payment checks. If you receive a "check" for an odd amount (especially one with cents), or a check that requires that you verify the check online or by calling a number, it's a fraud.
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Regency Centers and its affiliates disclaim any and all liability for the information, including without limitation, any express or implied representations or warranties for information or errors contained in, or omissions from, such information. Regency Centers and its affiliates, employees, and officers shall not be liable for any loss or liability suffered by you resulting from the provision to you of the information or your use or reliance in any way on the information on such third-party websites.