COVID-19 Small Business Resources

TRAINING EVENTS

UPCOMING FREE WEBINARS

September 23rd, 12:00 p.m. - Startup and Start Right

September 24th, 12:00 p.m. - Stop the Marketing Shout

September 30th, 9:00 a.m. - State Tax Webinar

September 30th, 1:00 p.m. - State Tax Webinar for Construction Contractors

October 14th, 11:45 a.m. - Lunch and Learn: Internal & External Fraud... Are you a Target?

October 15th, 8:30 a.m. - Retailer Sales and Compensating Use Tax

October 20th, 9:00 a.m. - Contractor's Sales and Compensating Use Tax

October 21st, 3:00 p.m. - Cyber Security Training

October 22nd, 9:00 a.m. - Liberal - Retail Tax Seminar

October 22nd, 1:00 p.m. - Liberal - Construction Tax Seminar

October 23rd, 9:00 a.m. - Dodge City - Retail Tax Seminar

October 23rd, 1:00 p.m. - Dodge City - Construction Tax Seminar

November 2nd, 5:30 p.m. - Destination Marketing

November 11th, 11:45 a.m. - Lunch and Learn: Keeping Good Employee Documentation

December 9th, 11:45 a.m. - Lunch and Learn: Preparing Your Business for Tax Season


PAST KANSAS SBDC WEBINARS

FINANCIAL ASSISTANCE/LOANS/GRANTS

HELP FOR YOUR EXISTING LOANS (LOCAL, BANK, SBA)


Everyone: Talk to your lender now about loan modifications available due to the Coronavirus. Many banks are making no-cost modifications available if you ask (Ex: Interest-only payments for a few months, months of payments pushed off to the end of the loan, etc.). Your Lender does not want to see you go out of business, talk to them now!

SBA Debt Relief Program (6 months of FREE payments on your behalf): If you have (or will have by Sept 27, 2020) an SBA 7(a), 504 or Microloan, the SBA will make the next 6 months of payments for you (you do not have to pay those 6 months back). Speak to your SBA Lender about this now to ensure you get this benefit and direct payments aren’t being taken out of your bank account during this time. [see the SBA Loan Comparison Guide for additional details]


SBA CORONAVIRUS LOANS (EIDL, PPP, EXPRESS BRIDGE LOANS, SBA DEBT RELIEF, MAINI STREET LENDING)
 

SBA Coronavirus Loan Comparison Guide (details on the first 4 programs)
 

SBA Economic Injury Disaster Loan (EIDL with up to 10K Advance) 

Update:  While the EIDL Loan is still available, the up to $10k forgivable Advance has now been fully allocated and is no longer available.
SBA Economic Injury Disaster Loan (EIDL) with up to $10k forgivable Advance: SBA Disaster Loan via the SBA (not through a Bank) with a 30-year fixed-term and opportunity to get up to a $10k forgivable Advance ($1k per employee for the Advance). You do not have to pay back the Advance, even if you are denied the EIDL loan or decide not to take the loan. [see the SBA Loan Comparison Guide for additional details]

Apply for EIDL

 

Paycheck Protection Program (PPP) 

Update: The PPP is no longer accepting new applications.
The PPP is an SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.

Frequently Asked Questions on PPP Forgiveness (8/4/2020): provides guidance to address borrower and lender questions concerning forgiveness of Paycheck Protection Program (PPP) loans. Click here.

New PPP Loan forgiveness Rules (6/5/2020):  Payroll moves to 60% and the time period moves from 8 weeks to the end of the year.  Learn more here

Revisions to Loan Forgiveness Interim Final Rule document was published by the Treasury & SBA (6/23/2020). Click here to view the whole document.

PPP Clarification FAQ from Treasury Department 

Loan Forgiveness Application Instructions for Borrowers

Find Eligible PPP Lenders

PPP Loan Calculator - Download

EIDL & PPP Updates Webinar (4/29/20): Checking Status/Approvals/Getting the money

SBA Debt Relief Program (6 months of FREE payments on your behalf): If you have (or will have by Sept 27, 2020) an SBA 7(a), 504 or Microloan, the SBA will make the next 6 months of payments for you (you do not have to pay those 6 months back). Speak to your SBA Lender about this now to ensure you get this benefit and direct payments aren’t being taken out of your bank account during this time. [see the SBA Loan Comparison Guide for additional details]

SBA Express Bridge Loan Program
Up to $25k loan through existing bank relationship with SBA participating lender. Primary use is working capital while you await long-term financing. [see the SBA Loan Comparison Guide for additional details]

Main Street Lending Program

$250k to $300million 5 year Loan from the Fed to help Small Businesses impacted by COVID-19 (Non-profits are also eligible). The borrower pays no interest until year two and no principal until year three. The program requires lenders to evaluate a borrower’s financial condition and creditworthiness based on the terms of the Main Street program and the lenders’ own underwriting standards. The program will continue until Dec 31, 2020, or when $600Billion has been loaned out, whichever comes first.  Click on this link above to see FAQs on the program and to find Lender's participating in the program. 

 

Fact Sheet Link:  https://www.bostonfed.org/supervision-and-regulation/supervision/special-facilities/main-street-lending-program/main-street-lending-program-overview.aspx

LOCAL FINANCIAL ASSISTANCE
 

Check with your local town/county for additional programs they may offer.

IRS TAX RELIEF PROGRAMS FOR EMPLOYERS (REFUNDABLE TAX CREDITS)


REIMBURSEMENTS for FFCRA FMLA Paid Sick Leave; Paid Child Care Leave; up to $5K per Employee Retention Credit (Employee Retention Credit not combinable with PPP Loan)
 

SOLE PROPRIETOR/INDEPENDENT CONTRACTORS ASSISTANCE via PANDEMIC UNEMPLOYMENT ASSISTANCE (PUA)


Provides up to $600 per week for up to 39 weeks, through December 26, 2020, to the traditionally non-eligible self-employed (Sole Proprietors/ Independent Contractors, Gig Workers, etc). Kansans may file for Pandemic Unemployment Assistance (PUA) (apply here). More Info about the program can be found here.

PRIVATE FUNDING OPPORTUNITIES FOR SMALL BUSINESSES DURING COVID-19

Restaurant Ordering App

Owned by Google & can be a help to restaurants without online ordering capability. The 1.5% order fee is waved through the end of 2020.

Wells Fargo Grant Program
Wells Fargo is donating approximately $400 million in Paycheck Protection Program processing fees through a new program to support small businesses owned by people who have been hit hardest by COVID-19.

EMPLOYER RESPONSIBILITIES (EMPLOYMENT LAW, FMLA, ETC)

COVID QUARANTINE SICK LEAVE REIMBURSEMENT to Employers:  

NEW Family Medical Leave Act (FMLA) rules in the Families First Coronavirus Response Act - U.S. Department of Labor

 

Employer Unemployment Benefits Filing: File by Worksheet Info - Kansas Department of Labor​

Kansas Shared Work Program

An employer/business owner may use Shared Work in lieu of a temporary, total layoff of employees. It allows for a partial workweek and partial unemployment benefits for employees.

 

FAQs about COVID-Related Employment Law Compliance - America’s SBDC

STATEWIDE COVID19 RESTRICTIONS:  No Statewide restrictions. Please check with your local City/County for any local COVID19 restrictions.  

 

Ad Astra: A Plan to Reopen Kansas Guidance for Businesses by Industry

 

Ad Astra Phases

Health Safety: CDC COVID-19 Reopening Guidance for Cleaning and Disinfecting Public Spaces, Workplaces, Businesses, Schools, and Homes

COVID-19 SUPPORT RESOURCES

Need help with Cash Flow Management/Projections? Contact us
 

Need help with Marketing & Operations in the age of Social Distancing? Contact us

Small Business Marketing during COVID-19 (courtesy of Alabama SBDC)

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COVID-19 Federal Rural Resource Guide - U.S. Department of Agriculture​

Federal Resources for U.S. Small Businesseshttps://www.covid-sb.org/

Curious about tax implications related to COVID-19 financial assistance? Contact your tax professional or the IRS at https://www.irs.gov/help/telephone-assistanc

For additional State of Kansas Business Support Info, visit the Kansas Department of Commerce.

Not sure who to talk to about your business situation? Contact us. If we don’t know the answer we will help you find someone who does! We are here to help – save yourself some frustration & contact the Kansas SBDC today!

 

ksbdc@pittstate.edu     |     (620) 235-4921