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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.

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, which contains $376 billion in relief for American workers and small businesses. The U.S. Small Business Administration (SBA) has developed the following temporary programs, in addition to traditional SBA funding programs, to assists in overcoming the challenges created by this health crisis.

 

List of lenders partnering with the Small Business Administration 

Click here to locate a Paycheck Protection Program Lender near you.

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) Loan Forgiveness applications are currently available for businesses that have met the eligibility guidelines. The Small Business Administration  will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses. For more information about PPP loan forgiveness or to apply, click here

The U.S. Small Business Administration 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 Wells Fargo Open for Business Fund is now accepting applications for its second grant cycle on technical assistance for non-profit small business owners. The fund was developed to help small to midsized non profits recover and rebuild with a focus on capital, technical assistance, and long-term relief efforts. Grant awards generally range from $250,000 up to $1,500,000. To learn more about the Open for Business Fund, click here. Applications must be submitted by October 23, 2020 and can be found here using invitation code OFBta.

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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