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Businesses and Homeowners May Benefit from the Coronavirus Bailout
With a massive area of the United States shut down due to the COVID-19 (Coronavirus) pandemic, many businesses are making tough decisions in order to stay afloat. Though, due to the recent passing of a $2 trillion stimulus bill in the U.S. Senate, businesses and homeowners alike will hopefully experience a surge in the economy suffering from the pandemic.
The bill itself has six segments:
1. For Americans making less than $99,000 (or married couples making less than $198,000), individuals get up to $1,200 and married couples to get up to $2,400, plus an additional $500 for each child. Stimulus checks will begin to decrease in allowance if an individual makes $75,000 and above.
2. $500 billion for industries affected dramatically (including $50 billion for airlines)
3. $250 billion for unemployment insurance
4. $150 billion for state and local governments
5. $130 billion for direct aid to hospitals
6. And $350 billion for small businesses, just like Total Asphalt Paving, Inc.
The bill provides federally guaranteed loans available at community banks to small businesses that pledge not to lay off their workers. The loans would be available through June 30. Additionally, senators have included a “payroll tax holiday” for small businesses in the plan. Checks will be determined considering an individual or household’s 2018 tax return. Though, if you have filed your 2019 return, then the check will consider returns from 2019.
Total Asphalt is recognized in the community as a respectable and trustworthy company and has been since 1982. We understand how frustrating this time can be for everyone, especially for those in our own backyard. In lieu of the developments coming out about COVID-19, we want you to know that our business is always here and ready to better serve our community. For small businesses, like Total Asphalt Paving, we know that there is light at the end of the tunnel. In hopes that this stimulus bill bridges us into tomorrow, we know how important it is for you, our customers, to know that we are taking action and respecting all of the necessary precautions in order to continue paving forward.
Total Asphalt Paving is a committed, leading provider of residential and commercial asphalt paving services in Macomb County and Oakland County, Michigan. We offer commercial parking lot paving, residential asphalt paving services, as well as parking lot repaving and driveway repaving. You can also request a quote for recreational asphalt paving if you want a basketball court, tennis court, or bike path installed at your home or place of business.
Get a Free Asphalt Paving Estimate Today!
Take advantage of our FREE driveway paving estimates and parking lot paving estimates. We also offer cost-free evaluations for any of your other paving needs! Call Total Asphalt Paving today at (586) 752-9060 or reach out to us on our contact form.