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COVID-19 Business Support
COVID-19 Business Support

  Hampton Roads Chamber COVID-19 Business Resource Guide    SBDC Hampton Roads COVID-19 Small Business Resources    757Recovery - Join the Hampton Roads Discussion Forum    HRPDC Hampton Roads COVID-19 Impact Planning Hub

  Hampton Roads COVID-19 Resources
Visit these regional resources created and regularly updated by the top business organizations in Hampton Roads.

 

 

  COVID-19 Resource Guide    COVID-19 Business Support

 

 


Employers, Avoid Tax Penalties

Submit a WARN Notice to VEC

The state is promising employers that they can avoid the financial penalty that usually comes with a rise in unemployment claims by their employees. Employers must let the state know that they’re ceasing or slowing down operations by submitting a WARN notice that includes the number of employees affected. For more information on how to send a WARN letter, visit the Virginia Employment Commission’s website or download the PDF: vec.virginia.gov/vecportal/employer/pdf/warnact.pdf

 


Loans and Grants

Small Business Administration

Economic Injury Disaster Loan (EIDL)

As of March 19, small businesses and nonprofits in Virginia can seek a low-interest economic injury disaster loan from the Small Business Administration worth up to $2 million at an interest rate not to exceed 4% to cover expenses until normal operations resume. To qualify, though, the SBA must determine that the applicant can’t find credit elsewhere.  Visit the SBA's COVID-19: Small Business Guidance & Loan Resources website for more details.

  EIDL Online Application

 

Express Bridge Loan Pilot Program

The Express Bridge loan program allows SBA Express lenders to provide expedited financing to small businesses located in declared disaster areas. Express Bridge loans are intended to be interim loans. Businesses use these funds for disaster-related purposes while they apply for and await long-term financing.

  7(a) Loans: Pilot Programs Website

 

Additional SBA Economic Injury Disaster Loan Program Information 

In keeping with our commitment to bring you the most up to date information, we wanted to share with you additional information on how to apply for U.S. Small Business Administration (SBA) Economic Injury Disaster Loan program (EIDL) funds. States will not be receiving funding directly from the SBA. All funds will be distributed directly from the Federal SBA Agency. 

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

For additional support, applying for EIDL funds you may contact your local Small Business Development Center (SBDC). For SBDC contact information use the following link: https://www.virginiasbdc.org/

Items Required for Applications:

  1. Loan application (SBA Form 5), completed and signed (this is electronic/online in the portal). To see what the form looks like, an example can be found here.
  2. Tax Information Authorization (IRS Form 4506-T), completed and signed by each applicant, each principal owning 20 percent or more of the applicant business, each general partner or managing member; and, for any owner who has more than 50 percent ownership in an affiliate business. Affiliates include, but are not limited to, business parents, subsidiaries, and/or other businesses with common ownership or management.
  3. Complete copies, including all schedules, of the most recently filed Federal income tax returns for the applicant business; an explanation if not available
  4. Personal Financial Statement (SBA Form 413) completed, signed, and dated by the applicant, each principal owning 20 percent or more of the applicant business, and each general partner or managing member
  5. Schedule of Liabilities listing all fixed debts (SBA Form 2202 may be used)

For a comprehensive list of actions, Governor Northam has announced to combat COVID-19 in Virginia, visit virginia.gov/coronavirus.


 

Small Business and Supplier Diversity

The Virginia Small Business Financing Authority (VSBFA) and the Virginia Department of Small Business and Supplier Diversity (SBSD) offer a Microloan for SWaM certified businesses.  Download the application here.


 

City of Norfolk

Norfolk’s Department of Economic Development is offering existing local companies in the exporting business affected by the stress on the global supply chain, as well as those that show a significant decline in sales over prior periods, a loan between $10,000 and $35,000 with an interest rate of approximately 2.75%. For more information, call 757-664-4338, visit the Norfolk Economic Development website, or download the application

Loan decisions will be made by Norfolk’s Economic Development Authority. The funding is coming from the Federal Economic Development Administration.


 

City of Williamsburg

Williamsburg is offering businesses in its cities up to $500 in a matching grant to help with their ecommerce and marketing needs as some shift to new business models, primarily online ordering and curbside pickup reservations. Funding is available through April 30 and applications must be approved by the Williamsburg Economic Development Department. Visit YesWilliamsburg.com for more information.


  Employers, Avoid Tax Penalties

Submit a WARN Notice to VEC

The state is promising employers that they can avoid the financial penalty that usually comes with a rise in unemployment claims by their employees. Employers must let the state know that they’re ceasing or slowing down operations by submitting a WARN notice that includes the number of employees affected. For more information on how to send a WARN letter, visit the Virginia Employment Commission’s website or download the PDF: vec.virginia.gov/vecportal/employer/pdf/warnact.pdf


 

Small Business Relief

Frequently Asked Questions

What if my small business cannot afford to pay sick leave?

The Families First Coronavirus Response Act authorized a refundable payroll tax credit to reimburse small businesses for paid sick leave and family and medical leave. Click here for an explanation of who is eligible and here for more information on the Employee Retention Credit.

I have to close my business to comply with Governor Northam’s executive order during the pandemic. What assistance is available to keep my business running and assist my employees?

There are several programs that were created by the CARES Act through the Small Business Administration to assist your business: the Paycheck Protection Program, the Economic Injury and Disaster Loan ProgramEmergency Economic Injury Grants, and the Small Business Debt Relief Program. Please visit www.sba.gov/coronavirus for additional information. You should also contact your local SBA lender. For a full list of SBA lenders in Virginia, please visit: https://www.sba.gov/offices/district/va/richmond/resources/virginia-sba-lenders.

Paycheck Protection Program Loans

  • Funds for payroll costs, continuing group health care benefits, salaries, rent and utility payments among several others
  • Loan payments will be deferred for six months
  • Program are eligible for loan forgiveness if you maintain your workforce, SBA will forgive the portion of the loan proceeds that are used to cover the first 8 weeks of payroll and certain other expenses, including paying your mortgage, rent, utilities, and interest on pre-existing debt obligations

Economic Injury and Disaster Loans Program and Emergency Economic Injury Grants

  • Up to $2 million in assistance that can be used to pay immediate expenses during an emergency
  • $10,000 advance payment that does not need to be repaid for businesses and may be used to keep employees on payroll, pay for sick leave, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent and mortgage payments.

Small Business Debt Relief Program

  • Immediate relief to small businesses with non-disaster SBA loans, in particular 7(a), 504, and microloans
  • SBA will cover all loan payments on these SBA loans, including principal, interest, and fees, for six months

Did the Paycheck Protection Program run out of money?

The Paycheck Protection Program temporarily ran out of money. On April 23rd, Congress passed H.R. 266, the Paycheck Protection Program and Health Care Enhancement Act, to replenish the funds. 


 

Small Business Administration

Economic Injury Disaster Loan (EIDL)

As of March 19, small businesses and nonprofits in Virginia can seek a low-interest economic injury disaster loan from the Small Business Administration worth up to $2 million at an interest rate not to exceed 4% to cover expenses until normal operations resume. To qualify, though, the SBA must determine that the applicant can’t find credit elsewhere.  Visit the SBA's COVID-19: Small Business Guidance & Loan Resources website for more details.

  EIDL Online Application

 

Express Bridge Loan Pilot Program

The Express Bridge loan program allows SBA Express lenders to provide expedited financing to small businesses located in declared disaster areas. Express Bridge loans are intended to be interim loans. Businesses use these funds for disaster-related purposes while they apply for and await long-term financing.

  7(a) Loans: Pilot Programs Website

 

Additional SBA Economic Injury Disaster Loan Program Information 

In keeping with our commitment to bring you the most up to date information, we wanted to share with you additional information on how to apply for U.S. Small Business Administration (SBA) Economic Injury Disaster Loan program (EIDL) funds. States will not be receiving funding directly from the SBA. All funds will be distributed directly from the Federal SBA Agency. 

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

For additional support, applying for EIDL funds you may contact your local Small Business Development Center (SBDC). For SBDC contact information use the following link: https://www.virginiasbdc.org/

Items Required for Applications:

  1. Loan application (SBA Form 5), completed and signed (this is electronic/online in the portal). To see what the form looks like, an example can be found here.
  2. Tax Information Authorization (IRS Form 4506-T), completed and signed by each applicant, each principal owning 20 percent or more of the applicant business, each general partner or managing member; and, for any owner who has more than 50 percent ownership in an affiliate business. Affiliates include, but are not limited to, business parents, subsidiaries, and/or other businesses with common ownership or management.
  3. Complete copies, including all schedules, of the most recently filed Federal income tax returns for the applicant business; an explanation if not available
  4. Personal Financial Statement (SBA Form 413) completed, signed, and dated by the applicant, each principal owning 20 percent or more of the applicant business, and each general partner or managing member
  5. Schedule of Liabilities listing all fixed debts (SBA Form 2202 may be used)

 


 

Business and Community Resources

Small Business Grants

Small Business Jobs Grant Fund

The Small Business Jobs Grant Fund, a program within the Virginia Department of Small Business and Supplier Diversity, was created by Delegate Steve Landes in 2010 to give grants to qualified small businesses to help offset some of the costs of hiring new employees. This is a performance-based program designed to encourage small businesses to create jobs and spur economic development within the Commonwealth.

Virginia Department of Small Business & Supplier DiversityCompany must be for profit and MUST fall under one of these business sectors:

  • Manufacturing o Distribution Centers
  • Corporate HQ's for Companies (with multiple facilities)
  • Research and Development
  • Information Technology Services to Business (B2B)
  • Inbound Call Centers 
    (note: Non-profits, retail businesses, construction, and professional services DO NOT QUALIFY!)

For more information regarding Program Eligibility or Benefits, please contact either:

Sylvia Torrente at (276) 608-2534; sylvia.torrente@sbsd.virginia.gov OR

Duc Truong at (804) 786-1648; duc.truong@sbsd.virginia.gov


 

2018 Virginia Community Profile of Hampton Roads

Download the Community Profile for Hampton Roads for labor market statistics for our region.

Virginia Community Profile of Hampton Roads 

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