COVID-19 Update

Jet Fresh Flowers wants you to know that we’re here for you and available while we get through this global pandemic. The coronavirus is affecting everyone terribly, and we’re doing everything we can to keep our team safe and to stay open for our customers. We’ve been operating with a skeleton team on-site in Miami to continue fulfilling orders and promote social social distancing. The majority of our team is working from home, and we reduced our hours and closed our Cash and Carry flower market to keep our staff and customers safe. During this state of isolation, we need flowers more than ever. Events all around the world have been cancelled, and people are feeling a great sense of fear and disappointment. Luckily flowers is always a perfect tool for lifting spirits and connecting people with nature.

Update from Fern

Fern has a message to our wholesale partners and businesses across the country, temporarily closed or working remotely: we are here to work with you so you can stay operating. Jet Fresh Flowers can drop-ship orders, fulfill requests, forward boxes to cargo agencies, answer questions and much more! Let’s work together and support each through this difficult time.

Staying Busy During Quarantine

Although it’s slow, it’s important to stay busy and inspired during quarantine. Here are some activities to keep your mind fresh while social distancing.

Intrigue Design’s COVID-19 Florist Recovery Program

About the Program

According to Intrigue Teaches, this product is a collection of WEBINARS, INTRUCTIONAL VIDEOS, PODCASTS, BLOGS AND BUSINESS ARTICLES relating to all things COVID-19 and the floral industry. We feel the stress of this unprecedented pandemic infiltrating the backbone of our industry. We want to make sure that the vital information and resources spread all over the internet are are available to any and all who need them in one clean, easy-to-navigate place. Learn more

 

LIVE with CeCe: A Community Of Learning And Laughter For The Floral World

Visit CeCe Designs on Facebook and request to join her private group where the floral community can come together and share and learn from each other. Experience live videos with CeCe Designs and stay uplifted while social distancing. Learn More

#Florantine – Social Media questionnaires During Quarantine

The floral community can use a little fun. Save these questionnaires and upload to your social media story. Tag us @jetfreshflowers so we can see your answers, and challenge your floral friends.

Positive Message from Mike

Here’s a special message from Mike encouraging the Flower Industry to stay positive and to not give up. 💐

Coronavirus (COVID-19): Small Business Guidance & Loan Resources

These are tough times. Thankfully, there are many resources that may be available to you to keep your business operating. Deleted: According to the U.S. Small Business Administration, “Health and government officials are working together to maintain the safety, security, and health of the American people. Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy.” Deleted: As a result, there are several resources provided by SBA that we encourage exploring further to get through this difficult time.

Paycheck Protection Program

The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses. Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards. Under this program:
  • Eligible recipients may qualify for a loan up to $10 million determined by 8 weeks of prior average payroll plus an additional 25% of that amount.
  • Loan payments will be deferred for six months.
  • If you maintain your workforce, SBA will forgive the portion of the loan proceeds that are used to cover the first 8 weeks of payroll and certain other expenses following loan origination.
Click here to learn more.

Economic Injury Disaster Loans and Loan Advance

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid. To apply for a COVID-19 Economic Injury Disaster Loan, click here.

SBA Debt Relief

The SBA Debt Relief program will provide a reprieve to small businesses as they overcome the challenges created by this health crisis. Under this program:
  • The SBA will also pay the principal and interest of new 7(a) loans issued prior to September 27, 2020.
  • The SBA will pay the principal and interest of current 7(a) loans for a period of six months.

SBA Express Bridge Loans

Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.

Terms

  • Up to $25,000
  • Fast turnaround
  • Will be repaid in full or in part by proceeds from the EIDL loan
Find an Express Bridge Loan Lender by connecting with your local SBA District Office.

CARES Act

Signed it into law on Friday, March 27, 2020, this legislation is aimed at providing relief for individuals and businesses that have been negatively impacted by the coronavirus outbreak. While that is great news, in and of itself, here’s a look at some of the key provisions included in the bill and what that may mean for you:
  • Direct payments: Americans who pay taxes will receive a one-time direct deposit of up to $1,200, and married couples will receive $2,400, plus an additional $500 per child. The payments will be available for incomes up to $75,000 for individuals and $150,000 for married couples.
  • Unemployment: The program provides $250 billion for an extended unemployment insurance program and expands eligibility and offers workers an additional $600 per week for four months, on top of what state programs pay. It also extends UI benefits through Dec. 31 for eligible workers. The deal applies to the self-employed, independent contractors and gig economy workers.
  • Payroll taxes: The measure allows employers to delay the payment of their portion of 2020 payroll taxes until 2021 and 2022.
  • Use of retirement funds: The bill waives the 10% early withdrawal penalty for distributions up to $100,000 for coronavirus-related purposes, retroactive to Jan. 1. Withdrawals are still taxed, but taxes are spread over three years, or the taxpayer has the three-year period to roll it back over.
  • 401(k) Loans: The loan limit is increased from $50,000 to $100,000
  • RMDs suspended: Required Minimum Distributions from IRAs and 401(k) plans (at age 72) are suspended.
  • Charity. There is a new provision that provides an above-the-line deduction for charitable contributions, plus, the limits on charitable contributions are changed.
  • Small business relief: $350 billion is being dedicated to preventing layoffs and business closures while workers have to stay home during the outbreak. Companies with 500 employees or fewer that maintain their payroll during coronavirus can receive up to 8 weeks of cash-flow assistance. If employers maintain payroll, the portion of the loans used for covered payroll costs, interest on mortgage obligations, rent, and utilities would be forgiven.
  • Net Operating Losses: The Tax Cuts and Jobs Act (TCJA) net operating loss rules are modified. The 80% rule is lifted, and losses can now be carried back five years.
  • Excess Loss Limitations: The excess loss limitation (ELL) rules for pass-through entities are suspended.
  • Interest Expense Limitation: The interest expense limitations are increased to 50% from 30% for tax years beginning in 2019 or 2020. Taxpayers can also elect to calculate the interest limitation for 2020 using their 2019 adjusted taxable income as the relevant base, which often will be significantly higher.
  • Large corporations: $500 billion will be allotted to provide loans, loan guarantees, and other investments, these will be overseen by a Treasury Department inspector general. These loans will not exceed five years and cannot be forgiven. Airlines will receive $50 billion (of the $500 billion) for passenger air carriers, and $8 billion for cargo air carriers.
  • Hospitals and health care: The deal provides over $140 billion in appropriations to support the U.S. health system, $100 billion of which will be injected directly into hospitals. The rest will be dedicated to providing personal and protective equipment for health care workers, testing supplies, increased workforce and training, accelerated Medicare payments, and supporting the CDC, among other health investments.
  • Coronavirus testing: All testing and potential vaccines for COVID-19 will be covered at no cost to patients.
  • States and local governments: State, local and tribal governmentswill receive $150 billion. $30 billion is set aside for states, and educational institutions. $45 billion is for disaster relief, and $25 billion for transit programs.
  • Agriculture: The deal would increase the amount the Agriculture Department can spend on its bailout program from $30 billion to $50 billion.
For more information, you can see the full Bill, here.

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