Resources for Small Businesses

As small businesses, short line railroads may be able to take advantage of several programs including the Paycheck Protection Program, and the Economic Injury Disaster Loan Program, both administered by the Small Business Administration. In addition, the SBA has provided an Express Bridge Loan Program of up to $25,000.

The Sick and Family Medical expansions provided through the Railroad Retirement Board is another key program. The RRB has issued guidance on benefit flexibilities as a result of COVD-19. A helpful tax impact overview provided by the IRS is here.

The Treasury Department has now released information on how small businesses can apply for loan forgiveness under the Paycheck Protection Program. The Loan Forgiveness Application explains how to calculate your forgiveness amount, determine your eligible payroll and nonpayroll costs, document eligibility for loan forgiveness and apply the CARES Act’s safe harbor for remedying payroll or headcount reductions. You can access the application form and instructions here, and the Treasury Department’s announcement on the forgiveness procedures is available here.

We encourage ASLRRA members to take advantage of the On-Demand Webinars on these topics, which provide helpful overviews and Q & A Sessions with industry experts. 

 


RECORDED WEBINARS AVAILABLE 
Outlining the Impact of COVID-19 Legislation on Small Businesses & Railroads

Learn how the Families First Coronavirus Response Act (FFCRA) and Coronavirus Aid, Relief, and Economic Security Act (CARES) legislation impacts small railroads and industry suppliers. Recorded webinars are available in ASLRRA’s On-Demand Webinars Library.

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