COVID-19 BUSINESS RESOURCES

• SMALL BUSINESS OWNER’S GUIDE TO THE CARES ACT

The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act passed by Congress on March 27, 2020, are intended to assist business owners with whatever needs they have right now.

• SBA DISASTER LOAN ASSISTANCE APPLICATION PORTAL (NEW!)

As of March 31, 2020, the SBA has changed its disaster relief portal and loan application website link. Businesses can also now request a cash advance of up to $10,000 with their loan application. These grants provide an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19 in as little as three days of applying for the Economic Injury Disaster Loan (EIDL). To access the advance, companies must first apply for an EIDL and request the advance. The advance does not need to be repaid under any circumstance, and may be used to keep employees on payroll, pay for sick leave, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent and mortgage payments.

• SBA VIDEO – HOW TO APPLY FOR ECONOMIC INJURY DISASTER LOAN

The program provides cash-flow assistance through 100 percent federally guaranteed loans to employers who maintain their payroll during this emergency. If employers maintain their payroll, the loans would be forgiven, helping workers remain employed, as well as help affected small businesses and our economy snap-back quicker after the crisis. Contact your lender to learn more about this loan program.

HAMPTON ROADS WORKFORCE COUNCIL RESOURCES

• VIRGINIA CAREER WORKS CENTERS – Currently, all Virginia Career Works Centers in Hampton Roads are closed to the public.  However, 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 toSteve Cook at the workforce council so that they can repost on their social networks.