COVID-19 BUSINESS RESOURCES

SBA CORONAVIRUS RELIEF OPTIONS

The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, will re-open the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders with $1 billion or less in assets for First and Second Draw applications on Friday, January 15, 2021 at 9 am ET. The portal will fully open on Tuesday, January 19, 2021 to all participating PPP lenders to submit First and Second Draw loan applications to SBA. Contact your lender for details.

Effective June 15, 2020, the SBA reopened the Economic Injury Disaster Loan (EIDL) program portal to all eligible applicants experiencing economic impacts due to COVID-19. The EIDL Advance will provide up to $10,000 ($1,000 per employee) of emergency economic relief to businesses that are currently experiencing temporary difficulties, and these emergency grants do not have to be repaid.

***It is recommended that applicants complete the paper application forms before applying online in order to ensure you have all the required information in advance.***

DOWNLOAD PAPER APPLICATION FORMS

Previous EIDL & Advances Status: If you previously submitted an application, received correspondence from SBA, and have a loan number that begins with a “3”, you are in the queue and your patience is appreciated.  If you would like to further inquire about the process and understand what to expect next you should contact the Office of Disaster Assistance 24/7 Customer Service line at 800-659-2955.

OTHER SOURCES OF FUNDING

Dominion Energy is partnering with the Virginia Chamber of Commerce Foundation to temporarily expand its EnergyShare program to assist those small businesses impacted by the COVID-19 pandemic. Dominion Energy Virginia is pledging $500,000 to help provide energy bill relief for small businesses, nonprofits, and houses of worship in its Virginia service territory. The program funding will be covered by shareholders and will not impact customer rates. Qualified businesses may be eligible for one-time assistance with their Dominion Energy electric bill up to $1,000. If your business is a Dominion customer, check out this new opportunity for relief.

  • LISC Rural Relief Small Business Grants – The Local Initiatives Support Corporation (LISC) is providing grants to small businesses, to help them keep functioning and remain vital facets of their local economies through this challenging period. LISC supports small businesses and enterprises affected the Covid-19 across the country, especially those in underserved communities, including entrepreneurs of color, women- and veteran-owned businesses that often lack access to flexible, affordable capital. The next grant application period opens on January 26th.

  • VIRGINIA 30 DAY FUND

The non-profit Virginia 30 Day Fund provides forgivable loans for Virginia-based small businesses. It is designed to be quick, easy, and free of red tape, as small business owners work to keep employees on board in the near term. LEARN MORE

BUSINESS REOPENING & RECOVERY

To get assistance from the Small Business Development Center (SBDC) or Hampton Roads Chamber, email: recovery@hrchamber.com or call 757-664-2596.

GOVERNOR’S OFFICE INFORMATION

HAMPTON ROADS WORKFORCE COUNCIL RESOURCES

  • VIRGINIA CAREER WORKS CENTERS – Virginia Career Works Centers in Franklin, Norfolk and Portsmouth are open by appointment only (mostly virtual).  Staff is still manning the Centers and continuing to stay in touch with its partners, employer customers and program participants via the telephone and internet communications.
  • BUSINESS SERVICES – The Business Services team is working with employers to assist with their needs as well. If you are a business owner, employer or HR representative who is considering work stoppages, layoffs or furloughs, we encourage you to contact the Business Services team. Also, if you know of a business that is actively hiring please pass that information along to Steve Cook at the workforce council so that they can repost on their social networks.

GENERAL ISLE OF WIGHT COUNTY INFO (as of July 29, 2020)

To contact a member of the Economic Development Department, please call (757) 356-1962 or email iwced@iwus.net.