COVID-19 Small Business Resources
TRAINING EVENTS
UPCOMING FREE WEBINARS
August 11th, 9:00 a.m. - Quickbooks Online - The Basics
August 11th, 1:00 p.m. - Quickbooks Online - The Details
August 18th, 12:00 p.m. - Don't Be Afraid to Start
August 19th, 12:00 p.m. - Startup and Start Right
August 20th, 12:00 p.m. - Sink or Swim: Cash Flow is King
August 27th, 10:00 a.m. - Sales Tax Workshop for Contractors
August 27th, 1:00 p.m. - Sales Tax Workshop
PAST WEBINARS
COVID HR & General Employer Info
Additional COVID Considerations
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 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)
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) Notice: PPP LOAN Program application deadline has been extended to August 8th.
The PPP is an SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.
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
PPP Loan Calculator - Download
SBA Debt Relief Program (6 months of FREE payments made 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 cannot be combined 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) (apply here). More Info about the program can be found here.
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 (apply by July 31st)
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).
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)
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
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
COVID19 Tips for Reopening Businesses
Ad Astra: A Plan to Reopen Kansas Guidance for Businesses
Ad Astra Phases
COVID-19 SUPPORT RESOURCES
Need help with Cash Flow Management/Projections? Contact your local SBDC
Need help with Marketing & Operations in the age of Social Distancing? Contact your local SBDC
Small Business Marketing during COVID-19 (courtesy of Alabama SBDC)
COVID-19 Federal Rural Resource Guide - U.S. Department of Agriculture
Federal Resources for U.S. Small Businesses -
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!
