COVID-19 Resources

The federal government recently enacted legislation to help small businesses weather the COVID-19 crisis, including the CARES (Coronavirus Aid, Relief, and Economic Security) Act passed on March 25,2020. Subsequently, additional funds were allotted to the Payroll Protection Program and the Economic Impact Disaster Loan Fund. Below are links to organizations and federal and state agencies that we hope will prove useful during this time.

Please click on the links below for more information.

Links to the most recent, in this case January 7, 2021, guidance to the Best Smart, Stay Safe Order.  This includes updates on the post-holiday state of retail establishments, lodgings, restaurants, and businesses. 

PPP to Reopen January 11, 2021. The U.S. Small Business Administration, in consultation with the Treasury Department, announced that the Paycheck Protection Program will re-open the week of January 11th for new borrowers and certain existing PPP borrowers. This round of the PPP continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021. Find more information on the SBA website.

This link navigates to the department’s COVID-19 Guidance for Food and Lodging Businesses.
The VtSBDC has long been an advising Vermont small business owners. Now, in the midst of a global pandemic, VtSBDC stands ready to assist Franklin County businesses as they navigate the current crisis and try to plan for an uncertain future.
The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress are intended to assist business owners with whatever needs they have right now. When implemented, there will be many new resources available for small businesses, as well as certain nonprofits and other employers. This guide provides information about the major programs and initiatives that will soon be available from the Small Business Administration (SBA) to address these needs, as well as some additional tax provisions that are outside the scope of SBA.
In addition to traditional SBA funding programs, the CARES Act established several new temporary programs to address the COVID-19 outbreak, including the Paycheck Protection Program, EIDL Loan Advance, SBA Express Bridge Loans, and SBA Debt Relief.
The video provides an overview of the small business provisions of the CARES Act.
This link navigates to the Small Business Administration’s informational video on the Paycheck Protection Program.
This link takes you to the SBA’s application should you choose to apply.
The Vermont Chamber of Commerce is dedicated to supporting businesses impacted by the novel coronavirus. Vermont and federal recommendations are evolving rapidly, and public officials are working to quickly and clearly communicate new guidelines for businesses to follow and assistance available.

The Vermont Chamber is tracking important updates related to COVID-19 that impact businesses and employers.

This link is an overview of resources available to small businesses affected by COVID-19. These resources include funding sources beyond the federal CARES Act, including industry-specific grants.
The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone.
The loan amounts will be forgiven as long as:
* The loan proceeds are used to cover payroll costs, and most mortgage
interest, rent, and utility costs over the 8 week period after the loan is
made; and
* Employee and compensation levels are maintained.

Links to tax help for taxpayers, businesses, tax-exempt organizations and others – including health plans – affected by coronavirus (COVID-19).

U.S. Secretary of Agriculture Sonny Perdue unveiled a one-stop-shop of federal programs that can be used by rural communities, organizations, and individuals impacted by the COVID-19 pandemic. The COVID-19 Federal Rural Resource Guide is a first-of-its-kind resource for rural leaders looking for federal funding and partnership opportunities to help address this pandemic.
Below are additional resources for small businesses as you navigate through COVID-19 and try to plan for the future.

Operation Main Street – Its mission is to help small businesses all over the US sell more gift cards, providing additional cash flow to get them through the crisis.

Support Local – Support Local is an initiative that lets you show your support for your local businesses during this challenging time.
SCORE – Connect with mentors who are available to assist small business owners navigate COVID-19 issues and to prepare for the continued reopening of the economy.
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