Guidance for a gradual reopening of the U.S. economy have been unveiled. Read the White House’s plan for “Opening Up America Again” here.
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Michael Che on Wednesday offered to pay one month’s rent to all 160 residents of an apartment building where his grandmother lived before she succumbed to COVID-19 earlier this month.
The “Saturday Night Live” star took to Instagram to announce that he plans to pay one month’s rent for all of the individuals living in his grandmother’s public housing complex.
“It’s crazy to me that residents of public housing are still expected to pay their rent when so many New Yorkers can’t even work,” Che wrote in the post. “Obviously I cant offer much help by myself. But in the spirit and memory of my late grandmother, I’m paying one month’s rent for all 160 apartments in the NYCHA building she lived in.”‘
https://www.instagram.com/p/B_BRjZXpkMd/
He called on the city to have a “better plan for debt forgiveness” for NYCHA residents, and asked Mayor de Blasio, Gov. Cuomo and Sean (Diddy) Combs to page him and come up with a plan.
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As the number of COVID-19 cases increases, so too do the scams. Scams are a problem, even when the world is not in the midst of a pandemic. In 2019, more than $10 billion dollars was lost in phone scams alone. Scams can come in the shape of phone calls, ads, emails, texts.
Before you buy face masks, disinfecting wipes, colloidal silver, or other promised COVID-19 treatments. you can take a series of steps to protect yourself.
1. Phone calls
If you don’t recognize a phone number, be careful when you answer. Sometimes, calls come in from the same number on a daily basis; you should not respond. And don’t give out any personal information unless you know (or have checked out) the person on the other end.
Scammer calls, which often take the form of robocalls, ”were already a huge and growing problem prior to the coronavirus,” said Consumer Action National Policy Advocate Lauren Hall. She added that “scammers never let a good crisis go to waste, and this one has given them tons of material. Unfortunately, scammers can spoof numbers—so you may get a call that says it’s from the health department or the CDC. Unless you were expecting one, let it go to voicemail.”
To shut them down, she recommends “screening and blocking services like Nomorobo. Wireless service providers also offer call-filtering apps, while your smart phone likely has built-in features to block spam calls.” You might even want to put your phone on do not disturb..”
2. Online purchases
Almost anyone can set up an online shop under just about any name. Here are some important steps to take before you buy:
Confirm the online seller’s physical address and phone number in case you have questions or problems, recommends the Federal Trade Commission (the government agency responsible for preventing deceptive practices). Check out the return policy. Comparison shop; if it seems to be too good to be true, it probably is. And don’t forget to factor in shipping costs, which may be double the original price. Take your time, counsels the National Consumer League.
If you get a pop-up message asking you for financial information while you’re browsing, don’t reply or hit the link. Legitimate companies don’t ask for information that way. Be careful about any links. Don’t click on them if you don’t know the sources. If you do, then you might download virtual viruses onto your computer or device.
Ignore online offers trying to sell you vaccinations or home test kits. As the FTC points out, scammers may try to get you to buy products that have not been shown to treat or prevent the Coronavirus disease 2019. They will try to feed on your uncertainty. If you are at all tempted to buy, then go to the FDA website to see if there is any basis for the claim. And make sure to check out the seller as well.
“If you’re trying to buy something in short supply like hand sanitizer, it’s safest to buy from the retailer and not from unknown third party sellers, of which there are many,” notes Hall. She points out that, even a site like Amazon or WalMart.com, “sellers can and do fake hundreds of positive reviews.”
3. Payment
Use a credit card, don’t send a check (or cash!), and never wire money. Your purchase will then be covered by the Fair Credit Billing Act, which provides protection against fraudulent charges. If your credit card information is stolen, and someone then uses it without your permission, your liability generally is limited to the first $50 in charges. Your credit card company may go even further, so that you won’t be responsible for paying any of those unauthorized charges made to your card. Make sure to check your credit card statements carefully each month – or, these days, even more frequently — to make sure you recognize all of the payments.
4. Financial help
The federal government has already undertaken some steps to help, including waiving interest on all federally-held student loans. States and the federal government are trying to help homeowners facing eviction or foreclosure. But don’t respond to texts and emails about checks from the government. If someone tells you they can get you the money from the federal government now, then that person is a scammer. If you do get a check in the mail, make sure it is legitimate. And if you are told that your Social Security benefits will decrease because of COVID-19, that too is a scam, warns the federal government.
5. Stay safe
Finally, Hall counsels that if you don’t give out your personal or financial information— including online services you use to send or receive money, like Zelle, PayPal, or Venmo — then you’re less likely to get scammed.
As we spend more time at home, and – probably – more time trying to find things online, beware. Be even more careful now than ever.
Source: FORBES
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Estate planning professionals are seeing a boom in business as people hunker down at home to prevent the spread of the coronavirus.
The COVID-19 pandemic has many of us grappling with the possibility that our health and lives could change drastically within a short period of time.
If these possibilities have forced you to consider doing a will and other legal documents or simply getting your affairs in order, this article will provide you with some tips to aid you in the process.
Small Steps Towards Peace of Mind
It may not be possible to get a plan in place during the novel corona virus lockdown. However, there are things you can do that prepare you to act once services are more available and provide you with some comfort that you can take care of the items that you can address now.
- Write down everything of financial and sentimental value that you own.
- Write a list the people in your life that you trust in categories of trust. List who you trust with healthcare decisions, financial decisions, with children, and with conflict. For each category it’s important to have at least two people. When you choose people in your estate plan, a nominee and one or two back-ups are sufficient.
- Write down a list of people and pets who need your care and could be impacted if you are no longer able to care for them because you need care yourself or because you have passed away.
- Download or request the beneficiary forms for all of your financial accounts and confirm that they list the beneficiaries you want. Don’t forget you can list a mix of primary beneficiaries and you can list your beloved organizations such as religious institution, alma mater, etc. as beneficiaries too.
- Research estate planning attorneys in your area and reach out to learn about their services and fees. You should also consider getting a consultation to understand what happens based on your circumstances if you get sick or pass away. The legal answer may surprise and/or comfort you.
- Research business attorneys well-versed in business succession planning. Just like with estate planning, you should consider getting a consultation to understand what happens to your business if you get sick or pass away.
What Documents Do You Need
These are the basic documents you need take care of you while you’re alive and support your loved ones in settling your affairs when you pass away:
- Financial power of attorney;
- Healthcare power of attorney;
- Advance healthcare directives, e.g. living will;
- Trust; and
- Last will and testament.
In addition to these documents, beneficiary forms and asset titles (such as vehicle titles) provide important opportunities to do planning. If, for example, you have a retirement account or life insurance account, they will have forms on which you list the people or organizations that will become owners of those assets when you pass away.
Therefore, a first step in your planning should be to write a list of all of your assets. In that list, determine which assets you can plan for by using a beneficiary form or updating title (ownership). It is important to include them in your pandemic estate planning.
If you own a business, you should also consider whether your business legal documents are set up for management and ownership succession if you are not able to lead your business or if you pass away. Each business type (e.g. limited liability company, corporation, etc.) has associated governing documents that can be used to plan. Working with a lawyer to make sure these reflect your needs and values will be a boost to achieving your goals.
Where To Get the Documents You Need
I will always advocate for working with an attorney. Even in these extraordinary times, working with a skilled estate planning attorney is the best option because they are tasked with developing a plan that meets your individual circumstances and your goals.
Legal documents that you download or buy from the store may support your needs and goals. However, in using them you run the huge risk that they will not and that they will not be executed (signed) according to the law in order to make them effective. So start with an attorney.
If you absolutely cannot find an attorney in your state who can help you during this time, you can use the form documents for everything but the will. Handwriting your will and signing it is likely better than using a form document since states have specific requirements for what makes a self-prepared will effective.
CAUTION: if you go this route in using form documents and a handwritten will, your first priority when you can regularly access legal services should be to hire an estate planning attorney to assist you in developing a plan for you.
How Do You Get the Documents Signed
To be legally effective, the documents described above need your signature and they need the signature of others too- witnesses and a notary. The exception to this for most states is the handwritten will.
Witnesses must be people who will not personally benefit or potentially receive any asset from your death. Finding witnesses and a notary under these circumstances will be very challenging.
Therefore, it is important that you:
- Understand whether your state requires witnesses and/or a notary for each of the types of documents described;
- Understand whether your state requires all of the signing parties to be present at the time you sign or at the same time as each other;
- Understand whether your state allows remote witnessing and/or remote notary services (witnessing by video); and
- Create a list of potential service providers who can help you meet those requirements.
Again, start with attorneys as your first resource for the above information and for the actual services.
National Notary Association provides up-to-date information on notary services available across the country including measures states have taken during COVID-19.
There you will find a list of states that allow remote notary services. Note that remote notary services are different from electronic notary services. Your focus should be on remote notary services.
Funeral homes, especially in the Black community, are a bountiful resource in our lives during any period. Your local funeral home may have a notary on staff and have witnesses available since they are essential business that are continuing operations.
Also check with banks in your area, especially branches located in retail spaces, e.g. big box stores. Bank branches typically have notaries on staff. It’s helpful to call ahead to confirm the availability notary services and witnesses and set an appointment if you can.
Whether you get documents with the help of an attorney or on your own, make sure you store your documents in a safe place and communicate your plan with your loved ones. Find more detailed information on estate planning, please review this article for addition insights and information.
If you haven’t created an estate plan with the help of an attorney, why not? What’s holding you back? Let us know in the comments or email us an info@shoppeblack.us
– Contributed by Mavis Gragg
Mavis is a seasoned attorney and conservation professional with nearly two decades of experience in real estate, conflict resolution, estate planning, and probate. She serves as the Director of the Sustainable Forestry and African American Land Retention Project at the American Forest Foundation.
Prior to this role, Mavis founded the Gragg Law Firm, PLLC in which she assisted her clients in estate planning, estate administration, and heirs property matters.
When she is not being a justice girl, Mavis can be found at an art gallery, trotting the globe, or on the dance floor.
Related: Watch your Ass-ets: Growing and Maintaining Black Wealth
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Matthew and Marnel met while attending Howard University for graduate school. Marriage and three young children later, they created a toy business called Puzzle Huddle.
We caught up with Matthew to see how his business and family is being affected by the Coronavirus crisis.
What were your initial thoughts when you learned about the outbreak?
We were concerned very early because our puzzles are manufactured globally and our partners were affected by the Coronavirus in January. We did not expect the health crisis to transition this quickly and profoundly to the United States.
How has it affected your business?
We had several significant televised media opportunities and pop-up events cancelled. Following many school closures, we experienced an increase in sales with parents looking for resources to keep their children busy and learning at home. In cases where we run out of inventory, our ability to receive new products is delayed.
How has it affected your lifestyle?
We have three young children (ages 6, 4, and 3) that have all been affected by school closures. At home we’re doing our best to create learning activities to keep our kids on track academically. Their learning time includes age appropriate math, reading, art, spanish, outdoor activities, puzzles, and public speaking (online using Facetime with family members).
What new strategies have you implemented or do you plan to implement in your business?
We are using our social media channels to highlight educational activities, tips, and resources for parents and students that are affected by school closures. There are so many homeschooling experts on social media and teachers that have gone online. We want to bring attention to those resources.
We’re also making adjustments to our product line and supply chain strategy to minimize specific vulnerabilities in the future. Beginning this summer we’ll have multiple products and revenue generation strategies to help manage our business’ risk profile.
We don’t know to the extent that our community is experiencing job and income uncertainty. We use our social media to give products away on a weekly basis and we hope to continue doing that so we can reach families that may not be in a position to buy our products during the public health crisis.
If you had one ask of your community right now, what would it be?
Connect with us through social media and let us know what resources and activities you are using to power through this experience. It’s been amazing watching our community mobilize online to support their children’s learning and care for each other.
There’s also been a lot of comedic relief from parents as they post about their experiences at home managing their children’s day during the school closures. Now is an awesome time to introduce a new puzzle into your homes.
-Tony O. Lawson
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As a business owner, you’re likely still trying to find ways to navigate the “new normal”. The good news is that this too shall eventually pass (fingers crossed). In the meantime, what you don’t want to do is slack on your digital marketing efforts.
That would be a waste of all the time and resources that you’ve already invested into your business to gain traction in an already crowded online marketplace.
That being said, let’s take a look at some digital marketing ideas that can help your business during the pandemic – and after.
5 Digital Marketing Ideas to Consider During the Pandemic
Implementing new digital marketing ideas during this period in time will have a huge impact on your company’s growth rate after the economy improves.
1. Stay Connected With Your Customers on Social Media
More people are on social media now while stuck at home, searching for updates and trying to stay connected in a suddenly isolated country.
People need support, understanding, education, resources. Social media can provide just that and can be extremely powerful if it’s done the right way.
2. Make Sure Your Business Can Be Found Online
This was a no brainer “pre-rona” and it’s even more of a no brainer now. Online search traffic has increased significantly over the past few weeks and will continue to climb as we #stayhome.
Everyone is glued to their computer and phone. We’re looking for news, entertainment, education, and ways to pass the time. Now is an important time to be visible digitally because other forms of traditional marketing are not as relevant at the moment.
3. Be Prepared to Pivot
This is an opportunity to show empathy and stay relevant at a time when your business may have been impacted by customers staying at home.
Restaurants are offering curbside pick up or free delivery. Healthcare and other service professionals that can’t physically see clients can offer online consultations. Personal trainers and Yoga instructors can offer live classes.
Another example that we’ve witnessed is businesses that originally make clothing and accessories pivoted to producing face masks.
4. Don’t Panic
You’ve likely heard all the gloom and doom predictions on the news and online about depressions and recessions. The truth is, the economy may be slow now but it isn’t stopping.
Money is still moving and consumers are still searching for people to do business with. Adjust your plan or create a new one.
5. Use this time to educate yourself
This is a perfect time for self-improvement. Use your newfound spare time to take a step back and assess what both you and your business need right now.
Learn how to improve your marketing strategy (You’re doing that right now!) Study how to create more content or improve your website performance. These are just a few actions that will pay off down the road.
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The Centers for Disease Control and Prevention has revised its face mask policy and is now urging everyone to wear cloth face coverings in public.
According to their website, “CDC recommends wearing cloth face coverings in public settings where other social distancing measures are difficult to maintain (e.g., grocery stores and pharmacies) especially in areas of significant community-based transmission.”
This announcement has spurred an increase in businesses that offer face masks. Here are some Black Owned Face Mask businesses that are creating face masks for those in need.
We know we missed some and will continue to update the list!
Black Owned Face Mask Businesses
All Things Ankara
House of Nambili
PRISCA
Oz+Õtz
Printed Pattern People
Aloha Glamour
Mujo Six
Figaro Apparel
Sue Rock Originals
GAWDLY
The Happy Mask Store
The Boxing Kitten
Beautiful Curly Me
Ngozika Okeke
NSAA African Creations
Yarn&Whiskey
Frank & Myrhh
LIV On
Eki’s Famous
Crown Inspired
Akese Stylelines
Veronica Ariel
Candace Cort Designs
Nuri Designs
Sun Gods
Face Masks by MNM
Shukuru Couture
BagCrush
ISG Solutions Group
Mckenzie Liautaud
The #BLAIRISMS
Sirani’s Fashion
The Peoples Mask
Over The Moon
KoshieO
Jaelen of All Trades
ShopVolta
Stay safe out there, fam!
If you would like to add your business to this list (or another) SUBMIT HERE.
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Feature image credit: (Gordwin Odhiambo / AFP via Getty Images)
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Alicia Goodwin has been creating jewelry since childhood. In 2003, she started her handmade jewelry business, Lingua Nigra. Her pieces range from hand reticulated brass and etched sterling silver, to blossom-like jewelry.
Since the outbreak of the Coronavirus, business has slowed dramatically. We caught up Alicia to find out how she’s dealing with this new reality.
What were your initial thoughts when you learned about the outbreak?
Like most self employed people, I knew that it would impact me greatly, considering a portion of my business is through in-person shows. I had already seen a downturn in the only show I was able to do. However, I definitely didn’t think it would get to this bad.
How has it affected your business?
Wholesale orders not being paid for and shows are being cancelled left and right. I’m not at a standstill yet, but it might happen. Honestly, even though I have bills to pay, I don’t feel like selling my work. It has given me a ton of free time I wouldn’t otherwise have, though!
How has it affected your lifestyle?
I work a lot, so I don’t have the social life I used to have. I do think twice about purchases, but I’ve been buying lots of food to stay inside and lots more vitamins than usual. Now that I want to socialize, I can’t! Because I can’t travel, I can’t see my friends that I would normally see at shows or on my almost monthly travels to New York.
What new strategies have you implemented or do you plan to implement in your business?
I haven’t even thought that far ahead. I’m trying not to inundate shell shocked people with “buy, buy, buy” right now. Instead, I’m posting pretty art on my instagram and maybe sending out a Covid-19 related newsletter. I’m sure folks are tired of that too.
If you had one ask of your community right now, what would it be?
I’m not sure. Stay positive and support one another if you can. This will take months, possibly years to recover from, but we will get through this!
-Tony O. Lawson
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In 2002, he founded the Texas Black Expo, Inc. which now produces one of America’s largest business expos. In the wake of Hurricane Harvey the organization launched the Hurricane Harvey Small Business Relief Fund which provided $1,000 emergency micro-grants to support small business owners affected by the storm.
Now, through its Texas Small Business Emergency Micro-Grant Source, the nonprofit is offering grants to small business owners affected by the coronavirus pandemic. The Texas Black Expo partnered with several major corporations, including H-E-B, Enterprise Holdings, Chevron, and UPS, in an ongoing effort to support small businesses.
At least 100 qualifying companies will receive $1,000 each in grant funds, according to Texas Black Expo.
The grant portal is currently open. The first round of funding will be distributed by April 30.
The severe impact of the pandemic on Houston and surrounding areas has resulted in unprecedented losses for many, including thousands of small businesses, whose operations have been shut down to slow the spread of the virus.
“Small businesses are the backbone of the American economy, and like every other city in the nation, Houston area companies need every possible resource available to help them keep open the doors of their operations,” Texas Black Expo Founder and President Jermone Love said in the release. “In addition, families depend on jobs provided by small businesses, so we want to do everything we can to help keep the local economy healthy.”
Texas Black Expo also announced its forgoing all activities for its annual conference, as a result of the COVID-19 pandemic.
The Texas Small Business Emergency Micro-Grant was created in 2017 as a response to the devastation small businesses faced after Hurricane Harvey. Since then, the fund has awarded $45,000 to assist entrepreneurs facing business interruption as a result of disaster or emergency.
Source: Click 2 Houston
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The $2 trillion stimulus bill — formally known as the CARES Act — was recently signed into law. Among its many provisions designed to help the economy weather the COVID-19 pandemic and recession, there are some big implications for student loan borrowers.
The two biggest student loan relief measures include a forbearance on all federal student loans through September and a 0% interest rate for the duration of the pandemic. However, many borrowers understandably have some unanswered questions, so let’s see if we can clear some things up.
1. The forbearance is automatic
Here’s the answer to the biggest question I’ve heard from federal student loan borrowers: Your payment obligation will automatically stop from March 13 through September 30. This includes borrowers who are on automatic payment plans.
It could take your loan servicer a little while to get its system updated with all of the provisions of the CARES Act. As of 8 a.m. EDT on April 2, for example, my federal student loan payment is still showing as due on April 5. And to be fair, it takes time to make the necessary modifications for millions of borrowers. But the key point is that you don’t need to do anything to get the forbearance.
2. You might be able to get a refund on your March payment
This brings up a natural follow-up question: What happens if you made a student loan payment after March 13 when the forbearance period started? Or what if your servicer auto-debits your April payment before its system is updated to reflect the suspension of payments?
The good news is that any payment you make to your federal student loans during the forbearance period can be refunded. This includes payments made manually and any automatic payments. While servicers are still working out the process, you can request a refund for any payment directly from them (hopefully within the next few weeks).
3. You can still make payments if you want to
Another common question is whether borrowers can continue to make student loan payments during the forbearance period. The answer is yes, and if you can afford to do so, it could certainly be a smart financial decision.
Since federal student loans are currently set to 0% interest, this means that anything you choose to pay will be applied to reducing the principal, which will not only allow you to pay off your loans sooner, but also save you significant money on interest charges over the long run.
4. It only applies to federal student loans
The Department of Education has no legal authority over private lenders, so the CARES Act student loan relief provisions only affect federal student loan borrowers. Unless you’ve been told otherwise by your lender, any private student loans you have are still due as usual.
Having said that, if you’ve lost income due to the coronavirus outbreak and you might have trouble paying your private student loans, the best thing you can do is contact your lender right away. The good news is that while the 0% interest or automatic forbearance doesn’t apply to private loans, most lenders are willing to help affected borrowers by allowing the temporary suspension of payments or through other relief measures.
5. When does the 0% interest period run?
The 0% interest period applies for the same dates as the forbearance — from March 13 through September 30.
However, it’s worth noting that the CARES Act wasn’t signed into law until March 27, so your loan may still have accumulated interest for the early part of the forbearance period. This will be changed retroactively by your lender if it hasn’t been already.
6. How much will this relief save you?
It depends on your loan balance and your normal interest rate. A borrower with $50,000 in federal student loans at an average interest rate of 6% will save roughly $250 per month for the duration of the forbearance.
7. Not all federal student loans are eligible
The forbearance and 0% interest rate apply to most federal loans, including Direct Loans, FFEL Program Loans, and Federal Perkins loans. It even applies to loans in default.
However, it’s worth noting that some FFEL Program loans and Perkins Loans aren’t owned by the federal government. For example, some Perkins Loans are owned by the schools the borrower attended. However, if you have loans of this nature, you can consolidate them into a Direct Consolidation Loan that would be eligible.
New guidance is likely to emerge
As a final point, keep in mind that this is still a very fluid situation. The U.S. Department of Education and the federal loan servicers are all scrambling to keep up with the latest federal guidance, and it’s entirely possible for the relief measures to change in the future as the coronavirus pandemic unfolds.
The Federal Student Aid website has set up a coronavirus information page to keep borrowers updated, so if you’re a federal student loan borrower, it’s a good idea to check it frequently for the most up-to-date information.
Source: The Motley Fool
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