COVID-19 Information and Resources

Connecting Our Tenant Community with Resources and Support During COVID-19

Our team has gathered resources that are available to assist small businesses and individuals to help you navigate these challenging times.  We are continuing to update this resource page so please check back on a regular basis.*

In addition to the resources below, visit our Re-Opening Resources page for more helpful information to assist your business.
 

• UPDATE: Small business owners who haven't yet applied for forgivable PPP loans now have until August 8 to apply. Congress passed legislation extending the deadline for submitting applications for the federal Paycheck Protection Program, and President Trump signed the bill. Click here for answers to some frequently asked questions about the program.


• On June 15, 2020, the SBA announced that it was again opening up its Economic Injury Disaster Loan (EIDL) grant and loan program. This means that independent contractors, freelancers, and gig workers are eligible to receive a $1,000 grant that does not have to be repaid. Small businesses and agricultural businesses also may apply for the grant, equal to $1,000 per employee of the business up to a maximum of $10,000.  Apply online or click here for more information.


• On June 8, 2020, the Federal Reserve Board announced an expansion of its Main Street Lending Program (MSLP) to allow more small and medium sized businesses to receive support. The board lowered the minimum loan amount raised the maximum loan limit, adjusted the principal repayment schedule to begin after two years, and extended the term to five years. For more information, read the press release here.

If your lender(s) cannot accept your application, below are some that may be accepting applications from businesses who do not currently bank with them.
Or click here to Find Eligible Lenders and check their status.  Also check out the following for more relief options:

 State Resources  |  For Restaurants  |  For Women-Owned Businesses  |  Additional Financial Assistance 
 

BUSINESS WEBINAR SERIES

CARES ACT - PAYCHECK PROTECTION PROGRAM (PPP)

• Check out the Video Resources at right comparing the Paycheck Protection Program to Economic Injury Disaster Loans and demonstrating how to apply for each.


• The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes a $349 billion small business loan program called the Paycheck Protection Program (PPP) designed for businesses having fewer than 500 employees to be administered through the Small Business Administration (SBA). The maximum amount of the loan is the lesser of (i) 2.5x average monthly payroll and (ii) $10 million. Subject to certain conditions, there are aspects of the loan that qualify for forgiveness. The deadline to apply for a PPP loan is June 30, 2020, and details are accessible at sba.gov and treasury.gov.

For frequently asked questions, check out the materials below from the U.S. Chamber of Commerce. 

             

     The 10 Commonly Asked Coronavirus Small Business Loan Questions is also a great reference.

State Resources

Click here for COVID-19 information listed by state, including available financial resources and state-by-state mandates and closures.

FINANCIAL RESOURCES FOR RESTAURANTS

• Rally for Restaurants Gift Card Sales: Rally for Restaurants is a grassroots initiative from restaurant technology providers, public and private companies, restaurant owners and workers, and people everywhere coming together to support the restaurant community in their time of need.


• Yelp Relief for restaurants and bars impacted by the Coronavirus: Yelp announced $25 million in relief, primarily focused on supporting independent, local restaurant and nightlife businesses, in the form of waived advertising fees and free advertising, products, and services during this period. As mentioned in Yelp’s relief program announcement, eligible small businesses in the restaurants and nightlife categories can add three upgraded features free of charge through May 25, 2020.


• Restaurant Worker Relief: The Restaurant Opportunities Centers United has compiled a list of national and local relief resources for restaurant workers. 


• Bartender Emergency Assistance Program: The United States Bartenders’ Guild is offering emergency assistance grants to bartenders, their spouses, and children.

For Women-Owned Businesses

• The Tory Burch Foundation Capital Program powered by Bank of America: Provides women entrepreneurs in the United States the opportunity to access affordable loans through Community Lenders.

ADDITIONAL Financial Assistance

• Many banks and creditors are now offering relief programs to small business owners affected by COVID-19. Check out Forbes' List Of Banks Offering Relief To Customers Affected By Coronavirus (COVID-19) and creditor websites such as American Express Financial Hardship and American Express Working Capital. 

• Hello Alice: Offering $10,000 grants being distributed immediately to small business owners impacted by coronavirus, as part of their mission to ensure Business for All. In addition to funding, grant recipients will receive ongoing support from the Hello Alice community.


• Honeycomb: Helps deliver the working capital that businesses need by offering 45-day payment free periods, 6-month interest-only periods and reducing posting, success and investor fees.


• Kiva: Offering 0% interest loans, expanding loan eligibility for more businesses in the US, increasing their maximum loan threshold from $10,000 to $15,000 and extending their grace period to up to 6 months for new borrowers.


• Mainvest: Crowdfunding platform MainVest announced its new Main Street Initiative: a $2,000, zero-interest, 120 day loan for restaurants or other brick and mortars affected by the shutdown. Launch a capital raise on Mainvest and you may be eligible for the zero-interest $2,000 loan.


• Nav's Small Business Grant:  Nav is offering $10,000 to take your business to the next level. Submit entries by May 30th.


• Opportunity Fund: Opportunity Fund, which specializes in money lending to small businesses owned by women, immigrants and people of color, is collaborating with investors and nonprofits to put together a coronavirus relief fund that will provide grants and low-interest rate loans.


• The Small Business Relief Initiative: The Small Business Relief Initiative was started by GoFundMe to help small businesses that have been affected by the COVID-19 pandemic and empower their communities to rally behind them. GoFundMe has partnered with Yelp and Intuit QuickBooks to provide small business owners with the financial support and resources needed to continue running their businesses during and after the coronavirus crisis.

 

Updated 7/23/2020

*Please note that we do not certify as to the availability of any of these resources to you or as to whether the information presented is accurate or current.  Nothing herein shall be construed as legal, tax or other advice.




 

HELPFUL Links

• SBA Small Business Guidance & Loan Resources 
• U.S. Chamber of Commerce
• U.S. Department of Treasury
• SCORE Coronavirus Small Business Hub

VIDEO RESOURCES

• Comparing Paycheck Protection Program to Economic Injury Disaster Loan
  Translated in:   Chinese   Spanish   Vietnamese

• Paycheck Protection Program (PPP): How To Apply
  Translated in:   Chinese   Spanish   Vietnamese
• Economic Injury Disaster Loan (EIDL): How To Apply
  Translated in:   Chinese   Spanish   Vietnamese

MARKETING & ONLINE SALES

• YouTube Offers Small Businesses a Free Tool to Create Videos
• Google Offering $340 Million in Free Ads for Small to Mid-Size Businesses with Active Accounts
• Kabbage Payments to Sell Gift Certificates Online
• 4 Ways Businesses Are Providing Value During COVID-19 [Action Steps Included]

GENERAL INFORMATION

• CDC Recommends Use of Cloth Face Coverings to Help Slow the Spread of COVID-19
• Tracking Grocers' Response to the Coronavirus
• Centers for Disease Control & Prevention (CDC) COVID-19 Page
• World Health Organization (WHO) COVID-19 Page