The new COVID Relief Hotline provides members with assistance navigating and applying for financial assistance programs during the coronavirus pandemic. Currently, the hotline is experiencing a high volume of calls due to demand.
Call (213) 351-8450 for 24/7 support via SMS text and live support between 8:30 a.m. and 4:45 p.m.
SMS Text Support: 24/7
Live Support: 8:30 a.m. - 4:45 p.m. Monday - Friday
C.A.R. Members Only
Phone – (213) 351-8450
Email – email@example.com
UPDATE ON PANDEMIC UNEMPLOYMENT INSURANCE
Financial Relief For REALTORS®
The EDD is now taking online PUA. In order to provide benefits as quickly as possible following that date, the EDD announced that payments will be issued in phases. Initially, benefit payments will be the minimum amounts ($167 per week of eligibility, plus the $600 additional payment for certain weeks, as shown in each phase below). The EDD will work to develop income verification procedures to determine if individuals are eligible for higher payments, which would apply retroactively to the first date of eligibility. We will update this information with any income verification procedures and timing when the EDD makes it available.
Click here for step by step instructions on filing a claim.
Click here for more information.
Click here for videos on PUA
SBA Emergency Aid Money
President Trump has signed into law an interim spending bill allocating additional funds for emergency aid programs for small businesses. Many REALTORS® are eligible for these aid programs.
Specifically, the law allocates:
- $310 billion for the Paycheck Protection Program (PPP), which provides forgivable loans to small businesses, including REALTORS®. Of this allocation, $60 billion has been set aside for community banks, credit unions, and community development financial institutions, which can better serve smaller businesses and minority-owned firms, organizations that are less likely to have an existing relationship with a larger bank.
- $60 billion for the Economic Injury Disaster Loan (EIDL) program, to provide $50 billion in loans and $10 billion in emergency grants to small businesses, including REALTORS®.
- $25 billion for coronavirus testing and $75 billion for hospitals.
Both the PPP and EIDL programs will proceed with the same eligibility criteria and application processes as they did prior to running out of funding last Thursday, April 16. These funds are expected to be expended very quickly.
The SBA will make additional coronavirus-related financial assistance available to small businesses beginning on Monday.
For more information on these and other financial relief programs, see the REALTOR® Relief page on C.A.R.’s coronavirus microsite.
Insurance Companies to Refund Premiums to Businesses Affected by COVID-19
Insurance Commissioner Ricardo Lara this week ordered insurance companies to return insurance premiums to consumers and businesses to provide financial relief during the COVID-19 emergency. The Commissioner's Bulletin covers premiums paid in at least six different insurance lines: private passenger automobile, commercial automobile, workers' compensation, commercial multi-peril, commercial liability, medical malpractice, and any other insurance line where the risk of loss has fallen substantially as a result of the COVID-19 pandemic.
The Commissioner's Bulletin requires insurance companies to provide a premium credit, reduction, return of premium, or other appropriate premium adjustment as soon as possible, and no later than August 2020. Commissioner Lara has already requested at least a 60-day grace period for policyholders to pay their premiums so that insurance policies are not cancelled for nonpayment of premium during this challenging time.