COVID-19 BUSINESS RESOURCES

SBA CORONAVIRUS RELIEF OPTIONS

The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, re-opened the Paycheck Protection Program (PPP) loan portal in January 2021 to PPP-eligible lenders to submit First and Second Draw loan applications to SBA. The program expires May 31, 2021, although funding could run out before the deadline. 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.

$15B has been allocated to this program as follows:
    • $10B for covered entities that did not previously receive their full entitlement
    • $5B for covered entities experiencing economic loss greater than 50% and employs less than 10 people
    • New SBA regulations expand EIDL period from 6 months to 24 months and raise the maximum loan amount from $150,000 to $500,000

  • RESTAURANT REVITALIZATION FUND (RRF)

    • $28B in grant funding available – Application is not open yet, but projected to be sometime in April 2021.
    • Covered period is from 2/25/20 to 12/31/21
    • Covers anyone/anything serving food except state-owned enterprises, businesses with more than 20 locations, and publicly traded companies
    • Previous participation in an SBA-administered COVID-19 program may limit eligibility
    • Amount of grant is equal to the amount of pandemic related revenue loss
    • Nearly unlimited eligibility for reimbursement
    • Grant shall not exceed $10M in aggregate; not more than $5M per location
    • $5B set aside for covered entities with less than $500,000 in gross receipts
    • Applicants are NOT required to have a DUNS number or SAM registration

    • $1.25B in grant funding available to venue operators impacted by COVID-19
    • Applicants receiving a PPP loan on or after 12/27/20 will have the amount of their SVOG reduced by the amount of the loan; PPP loans received prior to 12/27/20 will not impact SVOG
    • Applicants ARE required to have a DUNS number and be registered in SAM

SVOG Application Checklist

SVOG FAQs

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.

  • 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 March 25, 2021)

  • COVID-19 HOTLINE: Due to the overwhelming demand of COVID-19 phone calls at local Health Districts, a regional Coronavirus Customer Call Center has been established: 757-683-2745. Hotline hours are from 8:00 a.m. to 6:00 p.m. daily.

 

  • COUNTY OFFICES: County offices are open for in-person service; however, online services still remain the safest option to do business. You can access online services via the County website at www.iwus.net. For added safety, you are also encouraged to use the drop-box located next to the sidewalk of the County Administration Building. A bin is also provided in front of the Community Development office as a drop-off for building plans and other related information requiring review. It is advised that if you have business with the County to check in advance with the department on their status of reopening and other procedure options that may be in place to replace in-person transactions. Click here for contact info for various County Offices or you can call 757-357-3191.

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