GNO, INC Update – 4/8/2020

Regional Stakeholders,

During a crisis, timely, accurate, and actionable information is important.  In order to help you get this information, GNO, Inc. is sending out regular updates.  Please see below, and feel free to forward.

April 8, 2020 Update

News

• CARES Act – Today, Louisiana Senator Bill Cassidy announced that the U.S. Department of Health and Human Services (HHS) is awarding nearly $27 million in federal funding to 36 health care facilities in Louisiana to fight the coronavirus pandemic. You can see a full list of entities that will receive funding here.
• Unemployment Payments – Governor John Bel Edwards announced that Louisiana has received its share of the federal dollars earmarked for coronavirus-induced unemployment claims.  The state will begin paying out the $600-a-week benefits on Monday, April 13^th.  These unemployment payments are separate from the $1,200 check that many Americans are expected to receive.
• Penalty-Free Withdrawals from Retirement Plans – Many organizations are starting to receive notices about the penalty-free retirement withdrawals under the CARES Act. Those who are younger than 59½ are usually subject to a 10 percent early withdrawal penalty (in addition to the income tax owed on your withdrawal.) Under the CARES Act, this 10 percent penalty is waived for IRAs and defined contribution plans for participants experiencing financial hardship.
• Driver’s License Renewal – Although DMV offices in Louisiana remain closed, some drivers in the state now have the option to renew their license via the LA Wallet App. The app can currently be downloaded for free for Louisiana residents on an iPhone or Android device.

Information

• Paycheck Protection Program – The forgivable loan program is in its first full week of applications.
  • GNO, Inc.’s overview of the program is here.
  • You can find the latest guidance on the U.S. Department of Treasury website here.
  • Finally, there is a GNO, Inc. webinar, with questions and answers, here.

The SBA has also released a tool to help find a nearby lender eligible to issue a loan under the Paycheck Protection Program.

• Entergy Louisiana Small Business Webinar – Entergy will be hosting a webinar at 10 a.m. Thursday, April 9, including U.S. Rep. Garret Graves; LED Secretary Don Pierson; and Stephen Waguespack, president and CEO of LABI; who will provide insights to help navigate newly created assistance programs.  Here’s the link to join the webinar Thursday morning and any specific questions for the panelists can be emailed ahead of time to [email protected].

Resources

Are you looking for:

• Online Training? – A catalogue of opportunities for online training from the region’s higher education partners and private training providers can be found here.
• Work? – If you want a job in a sector that is surging right now, new openings are on WorkNOLA.com.
• Employees? – A database of local talent looking for new job opportunities, including quick employment history and skills summary, is on the WorkNOLA Workforce Directory.
• COVID-19 Customers/Purchasers? – If you have pivoted your business to make a new, coronavirus-related product, register onGNOpivot.
• COVID-19 Supplies/Services? – If you are looking for PPE, sanitizer, food providers, and other related products and services, search the GNOpivot Resource Tool.

As always, general information is on the GNO, Inc. Coronavirus Business Resource Page.

Please feel free to contact me [email protected] or VP Policy Ileana Ledet at [email protected] with any questions or suggestions.

Take care,

Michael

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