COVID-19 Financial Assistance Resources

Phases 3 Provider Relief Funding
– An additional $20 billion in provider relief funding as been announced by the Trump Administration. The U.S. Department of Health and Human Services (HHS), through the Health Resources and Services Administration (HRSA), is announcing $20 billion in new funding for providers on the frontlines of the coronavirus pandemic. Read more here.

Medical Group Management Association (MGMA) COVID-19 Impact On Medical Practices (one-page summary)

Resource Assistance

Please contact your Financial Advisor for specific questions regarding COVID-19 small business programs. If you do not have a Financial Advisor, please contact our Smith Brothers Business Partner, Jeff Giantonio, at 860-430-3347 or who can guide you through these challenging times.

CMS Accelerated and Advance Payment Program

CMS approves approximately $34 Billion for Providers with the Accelerated/Advance Payment Program for Medicare Providers. CMS has expanded its current Accelerated and Advance Payment Program to a broader group of Medicare Part A providers and Part B suppliers. Click here for an overview of the program.

Accelerated and Advance Payment Fact Sheet

Small Business Administration (SBA) Programs

Coronavirus Aid, Relief, and Economic Security (CARES) Act

Details around CARES Act programs is being developed. See below for information and check back frequently as information is being added daily. View the CARES Act summary & face sheet issued from OPTUMCare.

CARES Act: Retirement Plan Loan Provisions – learn more here.

Phase 3.5 Relief Bill
The U.S. Senate has passed a $484 billion ‘Phase 3.5’ stimulus package to provide financial relief in response to COVID-19. The relief bill is designed to replenish the Paycheck Protection Program (PPP) and will deliver funds to small businesses, hospitals and for nationwide virus testing to facilitate reopening the economy. The bill is expected to be signed by President Trump. More details will be shared as they become available.

Provider Relief Fund
Provider Relief Fund represents a $30 billion infusion of funds into our country’s healthcare system. The distribution of funds to healthcare practices started April 10th. This is not a loan and is not required to be repaid. Read the details here.

Update: The Department of Health and Human Services has extended the deadline for healthcare providers to attest to the receipt of their payment from the Provider Relief Fund from 30 days to 45 days. To read the full announcement, click here.

If you have not yet completed the attestation, remember to do so as soon as possible. To agree to the terms & conditions and sign the attestation, click here

Center for Women & Enterprise offers a simple and concise information related to resources for small businesses.
Funding & Resources for Small Businesses During COVID 19 Crisis

U.S. Chamber of Commerce
Coronavirus Emergency Loans: Small Business Guide & Checklist

For information on SBA COVID-19 Relief Funding Options, please click here. Borrowers can find more information here.

Paycheck Protection Program (PPP)
Visit the U.S. Small Business Administration page dedicated to PPP. Click here.
Paycheck Protection Program Flexibility Act Makes Significant Changes to CARES ACT Paycheck Protection Program – Read the full article here.
For the PPP application form, click here.

The SBA has released the PPP Loan Forgiveness Application. For more details about the application, click here.

PPP Overview
PPP Fact Sheet
PPP Lender Information Fact Sheet
PPP Interim Final Rule
PPP Application-3-30-2020 Form 2483
PPP Information Sheet
PPP Frequently Asked Questions
PPP Loan Application Info & Tips for Smith Brothers customers
PPP Documentation Checklist
PPP vs EIDL (Economic Injury Disaster Loan) Overview
Locate an Eligible Lender
SBA Connecticut Lendors

PPP Loan: NEW Treasury Guidance On Eligibility Uploaded 4/29/20
Read latest from CBIA – IRS Guidance: PPP Loan Expenses Not Tax Deductible (Dated 5/1/20)

Cares Act Flow Chart

MassHealth COVID-19 Health Care Provider Financial Relief Package Summary Uploaded 4/14/20

Robinson+Cole has been tracking relief programs being offered by the Small Business Administration (“SBA”) to help alleviate the economic impact of COVID-19 on small businesses in the United States. Click here for an overview of the Paycheck Protection Program is set forth below.

Paycheck Protection Program Flexibility Act Makes Significant Changes to CARES ACT Paycheck Protection Program Uploaded 6/10/20

Connecticut Bankers Association

The Connecticut Bankers Association (CBA) drafted this high-level summary of key provisions of the CARES Act’s Paycheck Protection Program provisions. Readers are cautioned to read the full text of the Act for more details. Further, the Paycheck Protection Program will be subject to guidelines expected to be issued by the federal government the week of March 30, 2020. Visit the site here

U.S. Chamber of Commerce

The U.S. Chamber of Commerce has issued this guide to help small businesses and self-employed individuals learn more about the Paycheck Protection Program, an initiative providing 100% federally guaranteed loans to small businesses. Learn more here

U.S. Senate Committee on Small Business and Entrepreneurship

The Small Business Owner’s Guide to the CARES Act guide provides information about the major programs and initiatives that will soon be available from the Small Business Administration (SBA) to address these needs, as well as some additional tax provisions that are outside the scope of SBA.

Visit the CARES Act page here.

SBA Disaster Assistance

On 3/16/20, the U.S. Small Business Administration approved Governor Lamont’s request to begin offering disaster-relief loans to Connecticut small businesses and nonprofits. Details are below. Learn more or apply here.

  • Temporary relief up to $2 million to assist qualifying businesses and private nonprofits in meeting their obligations.
  • Small business with 500 employees or less
  • 3.75% Small Business / 2.75% Non profits
  • Terms – up to 30 years
  • Collateral – none under $25k / required for over $25k
  • Loans can be used to pay fixed debts, payroll, accounts paybale and other bills that would have been paid had the disaster not occurred.
  • Not intended to replace lost sales or profits or for expansion
  • Funds cannot be used to pay down long term debt.
  • Apply at – goal is to arrive at a decision in 3-4 weeks.

Robinson+Cole has been tracking relief programs being offered by the Small Business Administration (“SBA”) to help alleviate the economic impact of COVID-19 on small businesses in the United States. Among other programs,
the SBA is offering an economic injury disaster loan program which provides small businesses and private non-profit organizations with working capital loans. Click here for an overview of these loans, as modified by the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”).

CT Dept Economic & Community Development Business Emergency Response Unit

CT Department of Economic and Community Development (DECD) created a COVID-19 Business Emergency Response Unit dedicated to developing new resources and to assist businesses navigate existing resources. Call 860-500-2333.

Connecticut Recovery Bridge Loan Program

As of 3/27/20 at 6PM, this program has been temporarily paused by the Department of Economic and Community Development (DECD). After receiving 4.000+ application in a 24 hour period, DECD has stopped accepting applications to ensure they can process the current queue efficiently and get this much needed money out the door as quickly as possible. SOHO will update this page once the program is once again accepting applications.

This program provides emergency cash flow relief to small businesses and nonprofits impacted by COVID-19.  General guidelines include:

  • Businesses & nonprofits with less than 100 employees
  • Qualifying organizations can apply for 1) zero-interest loans of up to $75,000 or 2) three months of operating expenses (whichever is less).
  • This $25 million short-term emergency loan program will be allocated on a first-come, first-served basis.
  • Visit the site here

Tax Filing Extensions

The Department of Revenue Services has extended deadlines for filing and payments associated with certain state business tax returns. Details can be found on DRS’s website.

Unemployment Assistance

  • Workers directly impacted by COVID-19 are no longer required to be actively searching for work to qualify for unemployment assistance.
  • Employers furloughing workers can use the Department of Labor’s shared work program, which allows businesses to reduce working hours and have those wages supplemented with unemployment insurance.
  • For more information read the FAQ.

Reimbursement of Medical Leave Costs

The Connecticut Department of Insurance reminds small and medium-sized employers of recent guidance from the Internal Revenue Service (IRS) on COVID-19 – related medical leave. 

Disaster Loan Assistance

Information for CT: all 8 counties, for MA: Berkshire, Hampden and Worcester counties.

Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist throughout the disaster recovery. Click here for more information.

  • Current coronavirus-related declared-disaster areas, where EIDLs will be available, include Georgia, New Mexico, Arizona, Colorado, Texas, Utah, California, Washington, Idaho, Oregon, Maine, New Hampshire, Connecticut, Massachusetts, New York, Rhode Island, Nevada, the District of Columbia, Maryland, Virginia and Wyoming.
  • Applicants who have not complied with the terms of previous SBA loans may not be eligible
  • If we have questions we can to Smith Brothers Legal dept and they will supply us with answers


Connecticut Insurance Department informs small and medium sized businesses that the IRS will provide immediate and full reimbursement for COVID medical leave costs. Click here to read more.

Coverys Medical Malpractice Insurance

Regarding financial challenges, Coverys is offering premium payment deferral upon request and approval to minimize burdens for our insureds. If you are a Coverys insured and have questions regarding relief, please reach out to your broker and they will work with you to consider appropriate accommodations. We also recognize that a number of states have issued emergency bulletins regarding policyholder requests for premium payment delays and policy cancellations for non-payment. Coverys intends to comply with all state requirements as they are implemented and will continue to monitor and update accordingly.

Click here for more information.

Business Interruption Insurance

A business interruption insurance policy should list/describe the types of events covered. Events not described in the policy are typically not covered. It is important to review the policy exclusions, coverage limits, and applicable deductibles with your agent, broker or insurer. Read the FAQs from the Connecticut Insurance Department.

The National Law Review has information to better understand Business Interruption Insurance. Learn more here


Webster Bank

Webster bank has announced support for customers and communities. Flexible service options for customers include:

  • Increased, individualized daily Webster debit card spending limits
  • Waived penalties for early CD withdrawals up to $25,000
  • Increased, individualized remote deposit limits
  • Options for payment deferrals on mortgages, home equity or personal loans, and small business   loans, based on need
  • Expedited SBA application process for qualified businesses impacted directly or indirectly by the pandemic, including vendors or other external business partners
  • Additionally, Webster is placing a 90-day foreclosure moratorium on Webster residential loans

Wells Fargo

Wells Fargo is offering aid to customers and communities, read the announcement here.

Key Bank

Key Bank is taking steps to support clients facing economic hardship due to COVID-19. For details visit the Key Bank COVID response page here.


Santander is working with its business banking customers experiencing hardships. Businesses are being asked to contact their relationship manager or call (877) 768-1145. Click here for more information.

Liberty Bank

Liberty Bank has announced relief measures for customers facing financial hardships due to COVID-19 including Express Business Loans for a line of credit or term loan of up to $1,500 and a quick decision. The low application fee is payable only if the loan is approved.

COVID-19 Business Response Webinars

The MetroHartford Alliance, in cooperation with the Connecticut Business & Industry Association and Small Business Administration hosts webinars regarding financial business programs. To register for Webinars and Virtual Events or replay past web-conferences click here.

You may also register to attend the Coronavirus Special Topic Call Series. Click here for more information.

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