Coronavirus (COVID-19) Updates & Resources
In light of the recent COVID-19 (Coronavirus) outbreak in the US, please see the information below in order to take steps to stay informed and follow protocols recommended by reputable health organizations.
What You Can Do
Weingarten Realty encourages tenants to:
- Evaluate your workplace emergency response protocols and business continuity plans
- Consider how best to decrease the spread of and lower the impact of coronavirus in your workplace by identifying and communicating your objectives to employees.
- Follow CDC guidelines for businesses and employers with employees who appear to have acute respiratory illness symptoms.
Shopping Center Policies
If any of the occupants in your premises are diagnosed with coronavirus, you should notify the public health authorities promptly. We request that you also notify your shopping center’s property manager of any relevant incidents.
The situation with the coronavirus continues to evolve. New information is made available almost daily. Public health authorities are encouraging everyone to continue to actively monitor the situation and the guidance they are providing daily.
Visit the Centers for Disease Control and Prevention for the latest information.
Congress passed the Coronavirus Aid, Relief, and Economic Security Act, known as the CARES Act. The bill provides direct financial aid to support small businesses suffering economic injury due to COVID-19.
- The bill provides small businesses who were operating on or before February 15, 2020 access to a nearly $350 billion loan program through the SBA’s network of more than 800 banks. We encourage our tenants to immediately contact their existing bank to see if they are an SBA lender or are going to be qualified to make loans under this program.
- The Paycheck Protection Program is a cornerstone provision of the bill, providing eight weeks of cash-flow assistance to small businesses with 500 employees or fewer.
- The low-interest loans are to cover such business expenses as: payroll; employee sick leave and family leave costs; interest payments on covered mortgages; rent under leases in place before February 15, 2020; utility payments; and interest on pre-existing debt obligations.
- All or a portion of the loans used for payroll costs, interest on mortgage obligations, rent, and utilities do not have to be repaid if the employer meets certain requirements regarding employee retention and maintenance of salary levels.
- Loans are available to eligible borrowers under the program through June 30, 2020.
- Under the bill, fees are waived, payments are deferred by at least six months (but not more than one year), and the SBA’s “credit elsewhere” test (the ability to obtain funding from other sources without undue hardship) is waived.
Contact your bank to see if it is an approved SBA lender.
We will do our best to keep you informed as more information is provided.
Small Business Loans Available to Assist Those Impacted by the Coronavirus (COVID-19)
There are resources available to assist individuals and small businesses to reduce the economic impact of the COVID-19 (Coronavirus) outbreak. Please see the links below to resources to assist you during this time.
The Small Business Administration (SBA) provides support to entrepreneurs and small businesses. The SBA’s Economic Injury Disaster Loan program provides working capital loans to those experiencing temporary loss of revenue due to COVID-19.
For more information, visit https://www.sba.gov/funding-programs/disaster-assistance.
Additional resources provided by the SBA include:
- Guidance for Businesses and Employers
- SBA Products and Resources
- Lender Match
- SBA’s Local Assistance Directory
Below are state-level assistance programs for small businesses. Click on the button below each state to see more information.
Additional Business Resources
Facebook Pledges $100 Million in Cash Grants to Aid Small Businesses Affected by Coronavirus
For more information visit, https://www.facebook.com/business/boost/resource
Communicate the Need for Relief for the Shopping Center Industry to Congress
“The long-term strength of the shopping center industry is critical to the economic, civic and social viability of communities across the country and nearly 1 out of 4 American jobs is retail related.” – ICSC
Click the link below to send an email to Members of Congress with one click.
We will continue to update this page as more information becomes available.