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Business Assistance

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Here is a variety of National, State and Local resources and relief options that focus on assisting the small business community during this unprecedented crisis.  Visit our Business Recovery & Reopening section to help you plan, prepare and fund your business' reopening.

The U.S. Small Business Administration (SBA) has developed the following temporary programs, in addition to traditional SBA funding programs, to assist in overcoming the challenges created by the COVID-19 pandemic.

20.10.21 SBA CARES Act Disaster Assistance Chart

List of lenders partnering with the Small Business Administration 

The Main Street Lending Program is designed to help credit flow with medium and small sized businesses that were in good financial condition, but now need loans to help recover and adapt to the impacts of the COVID-19 pandemic. For more information or to apply, click here

The Families First Coronavirus Response Act reimburses small to midsize employers through two refundable payroll tax credit programs designed to fully reimburse employers for the cost of providing COVID-19 leave to employees.

Treasury, IRS and Labor has launched the Employee Retention Credit that is designed to encourage businesses to keep employees on their payroll. The refundable tax credit is available for businesses financially impacted by COVID-19.

The Paycheck Protection Program (PPP) provides loans to help businesses keep their workforce employed during the COVID-19 crisis. Starting February 24 through March 10, 2021, businesses with fewer than 20 employees and who are sole proprietors will have an exclusive loan application period  to obtain access to financial assistance. President Biden has also announced additional program changes to make access to PPP loans more equitable.

PPP Loan Forgiveness applications are also available for businesses that have met the eligibility guidelines. For more information about the PPP, Loan Forgiveness or to apply for the programs, click here

The U.S. Small Business Administration (SBA) is accepting new applications for COVID-19 Economic Injury Disaster Loans (EIDL). The EIDL program is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue due to COVID-19. Small businesses including agricultural businesses and non-profit organizations are encouraged to apply

The SBA also announced the Restaurant Revitalization Fund presenting a grant for new and existing businesses where the public or patrons assemble for the primary purpose of being served food or beverage. This program will provide businesses with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. To learn more about the program, eligibility, qualified expenses, grant calculation, and the next steps, register for the upcoming informational webinars.

The SBA is also preparing to accept applications for the Shuttered Venue Operators Grant for eligible businesses impacted by the COVI-19 pandemic. For more information on funding guidelines and eligible businesses, click here

For latest resources, guidance and insights to protect and assist American businesses, workers and families, visit the U.S. Chamber of CommerceJoin the webinars being offered to employers discussing their most pressing business problems, solutions and support.

 

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