Business Resources in the Wake of COVID-19

Paycheck Protection Program (PPP)

1. The PPP Loan is designed to provide direct incentive for small business to keep their workers on payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. The PPP Loan will be available through June 30, 2020.
2. You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union,  and Farm Credit System institution that is participating. Lenders may begin processing loan applications as soon as April 3, 2020.

Economic Injury Disaster Loan Program (EIDL)

1. Loan Information
2. The Small Business Administration (SBA) will work directly with state Governors to provide targeted, low-interest loans to small businesses and non-profits that have been severely impacted by the Coronavirus (COVID-19). The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

1. Economic Development Corporation of Kansas City – Revolving Loan Fund (RLF)

   1. RLF assists small businesses with expansions to create and/or retain jobs in Kansas City, Missouri when conventional bank financing is not possible.

CARES Act and What It Means for You

1. See our summary of the CARES Act. This page is being updated regularly. 

Alt Cap – Fast Start Loan

1. AltCap has modified its Fast Start Loan (up to $20,000) to help meet the immediate capital needs of entrepreneurs and small businesses.
2. Contact the AltCap Business Development Team for additional details – info@alt-cap.org 816-216-1851

Benefits.Gov

1. https://www.benefits.gov/benefit/597

Filing for Unemployment 

1. Learn how to apply for unemployment benefits in your state
2. Unemployment Insurance Benefits Fact Sheet

Consider refinancing any business debt

Consider securing a line of credit and/or renegotiating your line of credit

CNBC.com  

1. “Where small businesses affected by the coronavirus can go for help”

Nonprofit Connect

1. Resources for Kansas City Nonprofits

Insperity

1. “ COVID-19 pandemic: How to prepare your business  “

Office of Congressman Emanuel Cleaver, II 

1. COVID-19 Business Disaster Recovery

Insurance Carriers are Delaying Billing

1. In an effort to ease the burden on businesses who are struggling during these times, many insurance carriers are giving options to delay paying premiums. Each carrier is taking a different approach. As an example, Chubb announced they are holding all cancellation and non-renewal notices for 60 days.

Tools for employers on COVID-19 from Husch Blackwell

1. FAQ List 

OSHA Guidance on Preparing Workplaces for COVID-19 

1. “This guidance is not a standard or regulation, and it creates no new legal obligations. It contains recommendations as well as descriptions of mandatory safety and health standards. The recommendations are advisory in nature, informational in content, and are intended to assist employers in providing a safe and healthful workplace.”

Sandler Training – Blind Spots Review Kickoff to Virtual Organizational Excellence 

1. Sandler Training is hosting 90 minute events focused on reviewing blind spots for your business. These events are FREE and there are 3 separate opportunities to attend in the month of April! (4/8, 4/15 or 4/22)
2. Register here

Employee Retention Tax Credit

1. U.S. Chamber of Commerce – Guide to the Employee Retention Tax Credit  

Applying for jobs during layoffs / furlough (Kansas City Region)

1. Assist KC locals in finding work during the quarantine 
2. Layoffs due to the COVID-19 pandemic have affected a large number of employees. TeamKC is committed to raising awareness about the top talent now available in the KC region, and helping these candidates find employment and temporary positions at the listed establishments.