We all know all this information is still unfolding daily so we urge you to review other resources so you can make the most informed decisions for your situation.
Watch Past WPEO Lunch with the Experts Webinars:
- Alternative Funding for Business Owners – April 14, 2020
- Download the presentation here.
- If Cash is King or Queen, Where is it Now? – April 21, 2020
U.S. Small Business Administration
- The SBA has released a PPP Guidance on Self-Employment interim rule with guidance for individuals with self-employment income who file Form 1040, Schedule C. This rule also addresses eligibility issues for certain businesses concernsWat and requirements for certain pledges of PPP loans.
- SBA Publishes an Interim Final Rule on Business Loan Program Temporary Changes: Paycheck Protection Program: On April 15, 2020, the U.S. Small Business Administration (SBA) published an interim final rule for the implementation of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act). The CARES Act temporarily adds a new product, titled the “Paycheck Protection Program,” to SBA’s 7(a) Loan Program. It provides for forgiveness of up to the full principal amount of qualifying loans guaranteed under the Paycheck Protection Program in order to provide economic relief to small businesses nationwide adversely impacted by COVID-19. This interim final rule outlines formal guidance and requests public comment.
Comments are due on May 15, 2020.
This interim final rule is effective April 15, 2020.
This interim final rule applies to applications submitted under the Paycheck Protection Program through June 30, 2020, or until funds made available for this purpose are exhausted. Even though this rule is already effective, SBA may use information from public comments to identify issues and make corrections in the rule, if necessary.
Read the notice at 2020-07672. Submit comments at https://www.regulations.gov/comment?D=SBA-2020-0015-0001
- Statement by Secretary Mnuchin and Administrator Carranza on the Paycheck Protection Program and Economic Injury Disaster Loan Program
U.S. Treasury Secretary Steven T. Mnuchin and U.S. Small Business Administration Administrator Jovita Carranza issued the following statement regarding the Paycheck Protection Program and Economic Injury Disaster Loan Program:
“The SBA has processed more than 14 years’ worth of loans in less than 14 days. The Paycheck Protection Program is saving millions of jobs and helping America’s small businesses make it through this challenging time. The EIDL program is also providing much-needed relief to people and businesses.”
“By law, the SBA will not be able to issue new loan approvals once the programs experience a lapse in appropriations.”
“Secretary Mnuchin and Administrator Carranza urge Congress to appropriate additional funds for the Paycheck Protection Program—a critical and overwhelmingly bipartisan program—at which point we will once again be able to process loan applications, issue loan numbers, and protect millions more paychecks.”
“The high demand we have seen underscores the need for hardworking Americans to have access to relief as soon as possible. We want every eligible small business to participate and get the resources they need.”
Lapse in Appropriations Notice
SBA is unable to accept new applications at this time for the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program (including EIDL Advances) based on available appropriations funding. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis
- U.S. Chamber of Commerce Foundation Save Small Business Fund
Application will go live Monday, April 20, 2020 at 3:00 p.m. est
1:00 p.m. – 4:00 p.m.
Small businesses are the foundation of our communities and our economy. Employing nearly half the American workforce, companies like yours keep our neighborhoods running and make them feel like home. We know you’re facing multiple challenges right now, and every dollar counts. Funded by corporate and philanthropic partners, the Save Small Business Fund is a collective effort to provide $5,000 grants to as many small employers as we can. We hope these supplemental funds will help you get through the next days and weeks.
TO QUALIFY YOU MUST
– Employ between 3 and 20 people
– Be located in an economically vulnerable community
– Have been harmed financially by the COVID-19 pandemic
WHAT YOU CAN EXPECT
– The application is short. It will take about 10 minutes to complete.
– All you will need is your business’s W-9 form.
– Grants will be awarded on a weekly basis, but you only need to apply one time to be eligible for funding.
For more information and to register, click here
- The IRS has just issued Revenue Procedure 2020-23 to address a problem caused under prior law by some tax changes under the CARES Act for partnerships. This procedure provides relief permitting partnerships to obtain the benefit of the new tax provision more quickly. The CARES Act includes a number of new tax deductions, particularly involving the ability to immediately write-off the cost of Qualified Improvement Property (QIP), retroactively to 2018. The problem created for partnerships was the manner in which the tax refunds related to a prior year deduction could be received. Read More.
- The IRS unveiled the new Get My Payment with features to let taxpayers check on their Economic Impact Payment date and update direct deposit information. Get My Payment will show the projected date when a deposit has been scheduled, similar to the “Where’s My Refund tool” many taxpayers are already familiar with. Get My Payment also allows people a chance to provide their bank information. People who did not use direct deposit on their last tax return will be able to input information to receive the payment by direct deposit into their bank account, expediting receipt.
- The CDC has issued new guidelines allowing critical workers who have potentially been exposed to COVID-19 (i.e., such as exposure to a household contact or having close contact within 6 feet of an individual with confirmed or suspected COVID-19) to continue work as long as they remain asymptomatic and additional precautions are implemented to protect them and the community. The guidelines apply to workers in 16 different sectors, such as financial services, manufacturing, healthcare, and other industries. The guidelines are set forth (HERE).
- Responding to the COVID-19 outbreak, on April 9 the Federal Reserve Board unveiled details about the previously announced Main Street Lending Program designed to get 4-year loans with deferred principal and interest payments to small and mid-sized businesses with up to 10,000 employees or less than $2.5 billion in revenue. Importantly, you can apply for a Main Street Lending Program loan even if you’ve also applied for a loan under the PPP, but you cannot apply if you participate in other programs such as the Main Street Expanded Loan Facility (MSELF) or the Primary Market Corporate Credit Facility. Read More.
- Verizon has invested $2.5 million into the Verizon Small Business Recovery Fund offering grants to help small businesses fill urgent financial gaps until they can resume normal operations or until other more permanent financing becomes available.
- Hello Alice: Business for All Grant $250,000 in grants will be awarded to Business for All applicants, as a critical step towards tackling entrepreneurs’ single greatest barrier to growth: access to capital. Grantees will be selected by a council of leaders representing diverse organizations, industries, locations and demographics.
- Facebook Small Business Grants Program Facebook is offering $100 million in cash grants and ad credits for up to 30,000 businesses in over 30 countries affected by coronavirus. They will start taking applications in the coming weeks.
- 5 Ways to Grow Your Marketing Career in Quarantine from McKinley Marketing Partners
- WIPP is a proud partner of the National Business Inclusion Consortium (NBIC), and on Monday, April 20, WIPP President & CEO Candace Waterman will lead a discussion with special guests:
- Justin Nelson, Co-Founder & President, National LGBT Chamber of Commerce (NGLCC)
- Pamela Prince-Eason, President & CEO, Women’s Business Enterprise National Council (WBENC)
In addition, hear up-to-the-minute business policy and funding information from Capitol Hill. This webinar will feature the WIPP Advocacy Team and the U.S. Small Business Administration. We welcome questions from the audience
- Tuesday April 21 @ 10:00am – 11:00am EDT: Live Hotsheet Webinar “Where is the money Part II. How to work with the Emergency Management Agencies.” hosted by Capital Region Minority Supplier Development Council Business Consortium. To register, click here.
- Wednesday April 22 at 9:00am PDT – Expert Tips to Stay Connected with Customers presented by Salesforce. Salesforce representatives are sharing best practices, tips and resources from Salesforce experts to help you learn how to reach, connect, engage your customers quickly with a CRM. Register.
- The Hunterdon Chamber of Commerce is hosting a free webinar The Challenges of COVID-19 Workforce – Phishing, Bombing, Hacking and Etiquette. Register.
- Square2 Marketing is launching a new video series On the Horizon: Preparing Your Business for the New Normal. Join founders Eric Keiles and Michael Lieberman daily for a 20-minute daily chart about what’s on the horizon. They will be discussing:
- changes that are already happening in your customers’ buying habits
- examples of businesses who are changing their strategy
- live brainstorming for businesses just like yours on how you can change and be “remarkable.”
- ways EVERY business should be thinking about digital transformation
- the future of marketing, sales and customer service
The first session is Monday April 20 and every weekday morning from 9:00am to 9:20am ET. Click here to learn more and add the session to your calendar. No registration, no fees, no forms. Just join! The sessions will also be broadcast on Facebook LIVE! Personnel
- Register now to join in this free virtual presentation with President of the Global Summit of Women Irene Natividad and Director of Powerhouse Presentation Mariette Rups-Donnelly on Thursday, April 23 at 10 a.m. ET/ 4 p.m. in Europe/ 9 p.m. Bangkok time on how to speak from your “authentic self” while giving a persuasive presentation.
Mariette Rups-Donnelly, formerly a leading actor and singer, is the Director of Powerhouse Presentation, an Australian company specializing in all areas of presentation and communication skills. This special event gives a preview of the skills-building sessions which are a hallmark of the annual Global Summit of Women, celebrating its 30th Anniversary in Bangkok, Thailand on October 8-10.
Tune in to gain valuable tips for articulating and promoting your agenda better as you persuade audiences large and small
- Thursday April 23 at 12:00pm – 1:00pm Est. Navigating Hatch-Waxman and Biologic Litigation Amid the Coronavirus Pandemic. RSVP.
The Coronavirus pandemic is presenting unprecedented challenges to individuals and businesses around the world. Nevertheless, the essential business of making the world’s medicines continues. So too the litigation that is critical to the pharmaceutical industry’s pipelines. Several of Goodwin’s experts will discuss how courts and litigants have begun to address litigation in the current environment and issues both innovators and generic/biosimilar manufacturers need to consider as the industry enters uncharted waters.
Topics will include:
- Latest observations on the progress and scheduling of litigations in popular Hatch-Waxman and BPCIA venues like the Districts of Delaware and New Jersey.
- Possible effects on FDA reviews of pending and future submissions.
- Application of 30 month stays, 45-day complaint deadlines, exclusivity periods and patent dance exchange requirements.
- Impact of recent legislation and regulatory activity upon deadlines before the PTO and PTAB.
- Thursday April 23 at 12:00pm EST. Event Virtualization Summit. Join 2,000+ peers from across the globe to hear how some of the brightest minds in the event and tech industries approach content creation to captivate their audience in this shifting landscape. Panels are from Google, Voice, Money 20/20 and c|net. Register.
- Tuesday April 22 @ 2:00pm EST – Strategies to Build Your Business During the COVID-19 Pandemic hosted by the National 8(a) Association as part of their 2020 Small Business Webinar Series. An open conversation on how to implement strategies and build your business during the current COVID-19 pandemic. Resources for small businesses will be discussed in addition to how you can set yourself up for success post-pandemic.This 30-minute free webinar with National 8(a)’s President Ron Perry, Executive Director Paula Arevalo, and Deputy Director Melissa Szasz will also feature Q&A from the audience on what resources and information would help your businesses.
- DRS Announces Priority One Taxpayer Assistance Program. (Hartford, CT) – The Connecticut Department of Revenue Services (DRS) has launched a new assistance program specifically designed to help taxpayers subject to current DRS collections matters who have been impacted by the COVID-19 pandemic.
The DRS Priority One Taxpayer Assistance Program (Priority One) is available to business and individual taxpayers who may be unable to meet their current collections obligations due to the COVID-19 pandemic. Any taxpayer who is the subject of a payment plan, bank warrant, wage execution, or other levy by DRS and needs relief or assistance because of the impact of COVID-19, can contact DRS directly to speak to a tax professional.
“Every person and business has been impacted by COVID-19. It is important now, more than ever, for taxpayers to know DRS is committed to working with them,” said Acting Revenue Services Commissioner John Biello. “In keeping with the DRS mission of providing the highest level of customer service, this new program connects taxpayers with a DRS professional, who will review individual circumstances and determine what relief may be available.”
DRS has established the following hotline and email dedicated to Priority One questions:
- DRS Priority One Hotline: 860-541-7650 (Monday to Friday, 8:30 a.m. – 4:30 p.m.; to speak to a DRS representative, or to leave a voicemail)
- Taxpayers may also contact DRS via the email at the following address:
DRS Priority One Email: DRSPriorityOne_CollectionsAssist@po.state.ct.us
- In order to assist DRS in evaluating email inquiries, taxpayers are encouraged to provide as much information as possible about their situation and the relief that is being sought.
- DRS Website: https://portal.ct.gov/drs
- New Jersey passed laws to amend its “Mini-Warn Act” and increase state protections for employees. A complete list of changes is included in this press release: HERE. Of importance to New Jersey employers are changes to the New Jersey mini-WARN Act and changes to family leave programs.
- NJ Dept. of Labor and Workforce Development is offering Self-Employed NJ Workers: Unemployment Benefits During the Coronavirus Emergency
Assistance is available to self-employed workers, independent contractors, gig and platform workers who are impacted by COVID-19 through Pandemic Unemployment Assistance (PUA) and possibly the Families First Coronavirus Response Act (FFCRA). We have prepared two downloadable guides to help you understand what benefits are available and how to apply for them.
If you are a self-employed worker, independent contractor, gig and platform worker please read them both before applying for Unemployment Insurance benefits.
TO APPLY & LEARN MORE: https://myunemployment.nj.gov/labor/myunemployment/independentcontractors.shtml
- The Governor has issued an Executive Order requiring all people in New York to wear masks or face coverings in public in addition to extending the statewide lockdown to May 15. Read more.
- Comptroller Stringer Launches Online Workshop Series to Expand Aid and Opportunities for Small Businesses and M/WBEs Impacted by COVID-19. These Biweekly webinar sessions aim to help small business and minority and women business owners navigate available resources and gain access to opportunities with interpretation services available in 12 different languages. These webinars will be held every Tuesday and Thursday starting Thursday, April 16 through Thursday, May 14. To RSVP, click here or email firstname.lastname@example.org.
- Governor Andrew Cuomo signed the Enacted Budget for fiscal year 2021, which includes what his office touts as the “strongest Paid Sick Leave program in the nation.” The FY2021 Enacted Budget includes Senate Bill 7506B, which, among other things, requires that all New York State employers provide sick leave to workers. The full text of SB 7506B, which amends the New York Labor Law by adding Section 196-b, can be viewed HERE.
- The NYC Comptroller’s office has compiled a list of private loans for small businesses. See the list.
- Do you need to hire staff for your essential business?NYC Small Business Service can help you with recruitment. No matter what your staffing needs are, we can help you hire the right employees at no cost. Their services include:
- Sourcing job seekers through our candidate databases, paid advertisements (at no cost to you), and through local partner organizations
- Recruiting and screening candidates based on your needs—referring the most qualified to your business
- Scheduling interviews
You can access their recruitment services by logging into your SBS Connect Account or creating a new account here.
- Hispanic Federation Northern Manhattan Emergency Recovery Fund. New York-Presbyterian Hospital has made a major new commitment of $10 million over the next two years to help our communities recover from the economic impacts of the COVID-19 pandemic. The first $2 million is designated for immediate emergency assistance. The second round of $8 million is designated for long-term community sustainability. This effort is conducted in partnership with Congressman Adriano Espaillat.
Eligibility Criteria for Businesses:
- Must serve or be located within the Washington Heights, Inwood and Hamilton Heights communities
- Demonstrate that the COVID-19 outbreak caused at least a 25% decrease in revenue
- Have been in operation for at least 6 months
- Non-profit: be an established 501(c)3
- Small Business: Brick and mortar establishment with a maximum of 100 employees (including full-time and part-time employees)
- Renaissance Economic Development Corp Emergency Small Business Relief Loan Renaissance has created an Emergency Small Business Relief Loan Fund to help businesses struggling to survive during the COVID-19 crisis. If you are interested in a loan, please fill out this interest form. Once your interest form has been reviewed, we will contact you to explain the next steps in the application process. Renaissance counselors will schedule online meetings with qualified business owners to complete loan applications.
- Are you an essential worker in need of childcare?The City is offering free childcare for the children of essential workers, with at least two sites in every school district. Childcare will be offered Monday-Friday, from 7:30 a.m. – 6 p.m. The centers will provide children with three daily hot meals, remote learning time with their teachers, activities like art, music, and physical education, and social and emotional support.
Essential workers who are New York City residents and would like to enroll in one of these centers need to complete this REC Enrollment Form. The form needs to be completed for every child, and the worker will then receive an email confirming your child’s center assignment.
- The Governor has issued an Executive Order requiring the use of face coverings under certain circumstances and requiring the implementation of certain physical distancing measures. Read More.
- Prince George’s County Economic Development Corporation is pleased to announce the opening of the Prince George’s County COVID-19 Business Relief Fund, a $15M fund established to provide financial assistance to businesses affected by the COVID-19 crisis.
County Businesses can now apply for a loan and/or grant to support cash operating expenses including payroll, suppliers, rent, fixed debt payments and other business-critical cash operating costs. Up to 6 months of verified payroll & operating expenses; not to exceed $100,000. Learn more about the Fund.
Click here to apply.
- Paycheck Protection Program provided by the City of Baltimore, Goldman Sachs, and Lendistry
- To see the upcoming events hosted by the City of Baltimore, Click Here.
- The Maryland Black Chamber of Commerce has new updates on their COVID-19 Business Resource page
- D.C. extends public health emergency and closure of schools until May 15. Mayor Muriel E. Bowser (D) announced that other coronavirus restrictions in the city, including nonessential business closures, a stay-at-home order and a ban on gatherings of 10 or more people are also extended.
- DC Small Biz Help Workshop: Spring Calendar. Check out this week’s DC Small Business Help Workshop Calendar and get connected to the resources and assistance to help you navigate and pivot during COVID-19 crisis.
Take a look to see what piques your interest and share with other small businesses in your network. This resource provides information about upcoming virtual workshops, training opportunities and entrepreneurship programs available for start-ups, new and existing small businesses in the District. Find out more.
- Shop In Place DC. Hard-working, creative entrepreneurs are struggling to stay open while providing Washingtonians with everything they need to stay at home and keep each other safe. Use this site to find old favorites and discover new gems that are still delivering the essentials. Local businesses can fill out profiles to be added to the list if they are still operating. Let’s help DC’s local businesses weather this crisis!
- The National Coalition of 100 Black Women Inc. Metropolitan DC Chapter is offering a Sisternomics Empowerment Grant. Click here to view the program overview and application.
- SCORE Washington, DC is hosting FREE two-part virtual workshop will teach you how to register your business as a Federal “small business” (Part I) and how to sell to the government (Part II). You must register for each workshop.Preparing your Small Business for the Federal Market – Part I, Tuesday, April 21, 12-1pmTopics to be covered in include:
- Reasons to consider selling to the Federal Government market
- The different types of Federal Government certifications
- How to determine if your business qualifies
- Determining small business set aside eligibility
Preparing your Small Business for the Federal Market – Part 2, Wednesday, April 28, 12-1pm
Topics to be covered include:
- How to conduct market research to identify opportunities
- Identifying subcontracting opportunities
- How to market your product / service to prime contractors
- The Virginia Department of Small Business and Supplier Diversity’s update this week includes information regarding the status of SBA’s programs. Information is current as of April 17, 2020.
Notice: Effective April 16, 2020, EIDL and PPP funds have been exhausted.
Applications are not being accepted at this time. We encourage you to begin
organizing your necessary financial documents in the event Congress passes the
fourth COVID-19 bill.
Please be aware, the Virginia Department of Small Business and Supplier Diversity (SBSD), as well as the Virginia Small Business Financing Authority (VSBFA), is not a part of the U.S. Small Business Administration (SBA) and will not be able to provide status updates on EIDL and PPP loan applications.
SBSD encourages you to reach to the SBA for assistance regarding your application status at: https://www.sba.gov/, Customer Service: 800-659-2955 –open 24 hours Monday through Friday; Saturday and Sunday 8:00AM to 5:00PM. Email: email@example.com
- VA governor extends shutdown order for nonessential businesses until May 8; Virginia Gov. Ralph Northam (D) extended his shutdown order for nonessential businesses — which initially was set to expire April 23 — until May 8. A separate stay-at-home order for Virginia residents is in effect through June 10.
- Employment Enterprises, Inc. has launched an Insights Webinar Series. The latest presentation Fine-Tuning the “New Normal” for Your Workforce recording hosted by Valerie Grubb is available for your viewing, as well as, past webinar recordings.
- Southpaw Insights has created a Snapshot of Americans During COVID-19 infographic of their findings from a national survey and a qualitative deep dive to see what people are thinking, feeling, and doing these days. Visit their websiteto learn more!
Corporate Health Resources (CHR) has launched a COVID-19 Case Management Hotline dedicated and fully staffed to provide a nurse case management solution for employees who feel they might have COVID-19 related symptoms or simply have questions regarding the virus. READ MORE. Check out their CHR Response to COVID-19
- Nukk-Freeman & Cera, PC, Employment Attorneys are offering a Live Complimentary Webinar What to do NOW to Get Ready for Employees Returning to Work. The 30-minute Q&A webinar that will focus on:
- HR issues: identifying policies to update, the importance of proper employee classifications, required notices and other return-to-work documents, managing leaves of absences and return-to-work from illness or other COVID-related reasons.
- Operational issues: protocols when employees get sick in the workplace, sanitizing your office, arranging for items like hand sanitizer/wipes, considering continued work from home.
- Financial issues: if you are receiving a Payment Protection Plan (“PPP”) loan, planning to spend the money properly during the 8-week time period, so that you maximize loan forgiveness.
Thursday April 23 12:00pm – 12:30pm EST. Register.
Partner Organization Offerings
- The Vinetta Project’s Virtual Expert Sessions are in full swing! These webinars cover topics on: Fundraising during COVID-19, Federal Relief Services & The CARES Act, Financial Wellness, and more! We have designed these based on the feedback from our Founder network to help you make better informed decisions for your business.
All sessions are FREE and open to our entire Founder community to help you maintain your grit, ideate, and thrive! Check out our Programs Pagefor upcoming Virtual Events.
- WIPP ChallengerHER Webinar – The federal government is still spending. Attend this information-packed and action-focused webinar to learn what you can do right now to build business opportunities as a prime contractor, subcontractor, and teaming partner. Thursday, April 30 at 2 PM ET / 1 PM CT / 11 AM PT
Presented by TargetGov’s Gloria Larkin, key take-aways include understanding exactly what the government says it will do to expedite acquisitions during a national emergency; how to use the specific emergency-related increased Simplified Acquisition Thresholds to obtain immediate contracts; and the tools you will need to increase business. Register.
- NAWBO Central & Northern NJ has launched four virtual events each week to keep business owners connected. They include:
- Tuesdays – Virtual Lunch & Learn – 12 p.m. ET
- Wednesdays – Community Connect – 5 p.m. ET
- Thursdays – Facebook Live with NAWBO National Board – 4 p.m. ET
- Fridays – Virtual Connect & Learn – 10:30 a.m. ET
Click on the calendar on www.nawbo.org for details.
- Join GWBC® as they discuss communications strategies on the new episode of “Maintaining The Health of Your Business.” Tune in Thursday, April 23 at 3 PM ETas we tackle 5 COVID Communications: Designed To Protect Your Brand & Your Sanity. Shani Godwin of Communiqué USA is hosting. RSVP.
- Tax Implications of the Coronavirus Stimulus Bill for Individuals and Businesses. Watch Webinar
- How to Access the SBA and Other Ways of Preserving Value in Your Business. Watch Webinar
- How Might the Value of your Business be Impacted as a Result of the Coronavirus Crisis. Watch Webinar
- Scaling Up in a Crisis workshop provides several updated examples of companies pivoting and thriving in this mess. Watch Recording.
- Cyber Safeguards for a Remote-Work Environment. Learn about cyberattacks, how existing cyber laws apply to remote-work environments and the security safeguards you should have in place. Access On Demand Webinar.
- 9 Ways to Strengthen Your Enterprise Resource Planning (ERP) System for Remote Work. Getting your ERP systems up to speed in today’s remote-work reality will require that you assess, update, and automate processes and technologies – and make sure that workers are adequately trained on the complexities of performing all of their tasks outside the office. Read.
- How to Lead during a recession. Leading through an economic downturn requires tough but necessary decision-making about your strategy and workforce. Learn what makes a resilient leader in times of hardship—and how talent optimization can help you emerge stronger. Watch the video.
- To help music professionals and their loved ones navigate the crisis, Billboard has compiled a list of resources at both the national and state levels, including more than four dozen relief funds.
- Q-and-A: How Smart Managers Can Effectively Lead Newly Remote Team. Michigan Ross Professor Lindy Greer suggests specific actions your company can take now that will serve you well into the future. Read more
- How Parents are Coping with their New Balancing Act. See the stats of this coronavirus study.
- Networking in the Age of COVID-19. The steps—and scripts—have changed. Four moves to help you reach out to your professional connections. Read More.