As COVID-19 has evolved into a pandemic, many businesses — big and small — have been forced to close their doors, causing a spike in unemployment. According to USA Today, a record 6.6 million people have filed claims for unemployment in the United States in the past few weeks, and this number is only expected to grow.
Many property and community association managers are concerned about their residents health, safety, and financial well-being. Fortunately, there are many organizations out there that have quickly mobilized funds and assistance to ease these financial hardships. Here’s a list of resources you can send to your residents to help support them during this tough time:
A cabinet-level department of the U.S. federal government, the Department of Labor is responsible for occupational safety, wage and hour standards, unemployment insurance benefits, and more. Their unemployment insurance programs provide benefits to eligible workers who become unemployed due to coronavirus — and these benefits have recently been expanded to offer more assistance. In addition, the $2 trillion Coronavirus Stimulus Package recently passed, which means qualifying Americans will be receiving cash payments soon. The New York Times reported, “Most adults will get $1,200, although some would get less. For every qualifying child age 16 or under, the payment will be an additional $500.”
Led by advocates for restaurant workers, One Fair Wage is a nonprofit, non-governmental organization. Right now they are providing cash assistance to restaurant workers, car service drivers, delivery workers, and personal service workers who are financially struggling due to temporary unemployment.
A U.S. government agency, the SBA provides support to entrepreneurs and small businesses. At the moment they are currently offering low-interest loans of up to $2 million to small businesses and nonprofits in certain states that have been impacted by COVID-19.
With the goal of promoting the health and prosperity of the foodservice industry, Restaurants Care is offering grants to restaurant workers who have tested positive for coronavirus, if they are a caregiver for an immediate family member who has contracted the disease, or if they have been out of work for 3+ weeks with no unemployment benefits.
An advocacy organization promoting the rights of domestic workers in the U.S, the National Domestic Workers Alliance has created a Coronavirus Care Fund to provide emergency assistance for domestic workers, so they can stay home and healthy. Every qualifying applicant can receive up to $400 in emergency assistance from the fund.
The United States Bartenders Guild (USBG) is a professional and philanthropic organization for bartenders across the country. To help those in need, they are offering loans to bartenders who are out of work due to COVID-19.
A social impact technology startup, Savi works to solve the student debt crisis by helping student loan borrowers better understand their debt. Currently, they are providing assistance to borrowers who lost their jobs with a Free COVID-19 Student Loan Aid Tool, that helps determine if you’re eligible to lower or eliminate your student loan payments at this time.
With offices in Washington, D.C. and New York City, Americans for the Arts is a national nonprofit organization that focuses on advancing the arts in the United States. In response to coronavirus, they have created a full list of coronavirus resources that are offering funds and grants for artists, performers, and musicians who have experienced disruptions in their employment.
During this time of uncertainty, it’s important to stay positive and remain proactive. With the right financial resources, your residents can get the support they need to make it through. Keep your resident communications informative and helpful, so they know you are doing everything you can to ease the situation. We will continue to refresh this blog post in the coming weeks with more financial resources as they become available.
A new nationwide fundraising effort to support residents impacted by COVID-19, the Resident Relief Initiative is offering to pay one month of rent in emergency financial assistance to renters. In addition, they are also providing help to landlords who are at risk of foreclosure and bankruptcy.
This article was updated on April 24, 2020.