COVID-19 Small Business Resources

TRAINING EVENTS

FINANCIAL ASSISTANCE/LOANS/GRANTS

Save time and frustration - watch this COVID-19 Financial Programs overview first!
 

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 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)
 

SBA Coronavirus Loan Comparison Guide (details on these 4 programs)
 

SBA Economic Injury Disaster Loan (EIDL with up to 10K Advance) Notice: EIDL portal is now open to everyone.
With the additional funding provided by the new COVID-19 relief package, SBA will resume processing EIDL Loan and Advance applications that are already in the queue on a first-come, first-served basis. We will provide further information on the availability of the EIDL portal to receive new applications

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]

WEBINAR - EIDL/SBA LoanTraining
Apply for EIDL

Paycheck Protection Program (PPP) Notice: PPP LOAN Program application deadline has now passed and 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.

New PPP Loan forgiveness Rules:  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]

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 to the traditionally non-eligible self-employed (Sole Proprietors/ Independent Contractors, Gig Workers, etc). Kansans may file for Pandemic Unemployment Assistance (PUA) by May 12th with payment processing by May 25th (apply here). More Info about the program can be found here.

 

TAX FILING DEADLINE PUSHED BACK TO JULY 15TH

PRIVATE FUNDING OPPORTUNITIES FOR SMALL BUSINESSES DURING COVID-19

Hello Alice COVID-19 Business for All Emergency $10K Grant
Apply here.

Up & Running with eBay

Free eBay store for three months to help retailers without an e-commerce presence transition to selling online (no selling fees for up to 500 items).

Restaurant Ordering App

Owned by Google & can be a help to restaurants without online ordering capability.

EMPLOYER RESPONSIBILITIES (EMPLOYMENT LAW, FMLA, ETC)

WEBINAR (3/25/20) - Employer's Guide to COVID-19 (Part 1)
WEBINAR (4/2/20) - Employer's Guide to CARES Act (Part 2

NEW Family Medical Leave Act (FMLA) rules - U.S. Department of Labor

Families First Coronavirus Response Act - U.S. Department of Labor

 

Unemployment Benefits: 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.

 

STATEWIDE COVID19 RESTRICTIONS (Effective May 27th, 2020 all Statewide COVID19 Restrictions have been lifted for businesses.  Please check with your local City/County for any local COVID19 restrictions)

COVID19 Tips for Reopening Businesses

 

Ad Astra: A Plan to Reopen Kansas Guidance for Businesses        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​
 

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

For additional information related to Paycheck Protection Program (PPP) Forgivable Loans, contact your local participating lender. Find Eligible PPP Lenders

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