RECOVER - 4R Project

As we move forward with recovery, many businesses may still be unsure how they will be impacted, and if they will pursue financial assistance. We understand that many small businesses will eventually have to seek new financial resources to avoid closure, businesses are extremely hesitant to take on more debt. During the RECOVER phase, we aim to provide tools for immediate survival needs.

Our team is here to assist you through this crisis and beyond. With that, we've developed documents to help work through various facets of business operation during crisis and uncertainty.

At the national level, our association, along with the AWBC, have developed a project titles "Resource Partners Training Portal (RPTP)." This includes a training platform containing inforamtion to assist small businesses with surviving and recovering from the pandemic.

Webinars/Recordings

Upcoming

Too Important to Fail: Minorty-Owned Businesses Navigating COVID-10 and Beyond - May 27
Managing Your Business in Times of Crisis - June 3
Coronavirus Tax Relief for Employers and Business Owners - June 10 (Registration Link Coming Soon)
Constant Contact has an impresive list of free webinars in the coming days
National SBDC network webinars

Recordings

National Women's Business Council - Community Lending Key to Main Street Recovery
Business Brokerage Press - 4 Lessons We Learned from an Email Sent to 20,000 Business Owners

Funding Options

PPP

Late last Friday, SBA and Treasury released PPP loan forgiveness information and the application. The form an instructions give information to borrowers on how to apply for forgiveness for their PPP loans, consistent with the CARES Act. SBA will also soon release regulations and guidance to further assist borrowers as they complete their applications.

According to an article by Inc., the rules regarding PPP loans could change drastically from the Treasury's initial guidance. We'll keep watching these developments and update you as we know more.

EIDL

We've not received much additional information on the EIDL or EIDL advance programs this week. We did, however, receive updated information on EIDL disbursement numbers through May 17, and have EIDL advance disbursements through May 9, 2020.

Know a small business owner that needs information on SBA funding options in a different language? There are now resources available in over 15 language options on the SBA website.

Additional Funding Options

ND Dept of Commerce Statewide Survey

The North Dakota Department of Commerce wants to understand how the Cornoavirus pandemic is impacting businesses across our state. They are issuing the second round of a statewide survey to help collect this data. By tracking the information, they along with other partner organizations, can identify additional ways to support North Dakota businesses during this challenging time.

Complete the Survey

News and Trends

ASBDC and Thryv have conducted a national study each of the past eight weeks to gauge the impact and outlook of America's small businesses. The results show 70 percent of small businesses are "extremely concerned" about the current business environment in light of the COVID-19 outbreak, a 14% decline from Wave 5 when concern appears to have peaked.

The US Census Bureau has released the first results from a new Pulse Survey showing a large negative effect from COVID-19 for the majority (51.4%) of respondents and an expectation that it will take more than six months for their business to return to normal.

Small Business Roundtable have released the State of Small Business Report on the Impact of COVID-19.

Federal and State Resources

The U.S. Small Business Administration is keeping on top of things for you as well. General guidance for preventing workplace exposure to acute respiratory illnesses, including COVID-19 is available.

The CDC also has a specific resource page of Interim Guidance for Businesses and Employers to help you plan, prepare and respond to Coronavirus.

To best serve businesses and communities dealing with the threat of COVID-19, the Department of Commerce has temporarily re-directed human and financial resources to support you.Visit our website for the most current information.

Tools

America’s SBDC partners are doing their part to help small businesses during the the COVID-19 pandemic.

Learn about these small business resources.

We know that your business may be experiencing disruptions resulting from the global outbreak of COVID-19. We’ve heard that a little financial support can go a long way, so we are offering $100M in cash grants and ad credits to help during this challenging time.

As developments continue to unfold in response to the spread of COVID-19, we know many small businesses have questions about implications in the workplace and funding options to help bolster their businesses during this difficult time. We are compiling relevant tips and resources and information on new funding opportunities and policy developments that we are sharing on our website and through online presentations. We will be posting daily updates to this page with useful information about the ways small businesses can prepare for the impact of COVID-19 on their business and community.

Free access to Advance Hangouts

$340 Million Small Business Grant Program

Helping your busniess through COVID-19

eBay has laynched "Up & Running" to immediately bring small businesses online.

LOOK UP! provides any business owner with free updates of our customizable Monthly Small Business Monitor bundle, which was developed in response to the current medical, social and economic crisis.Learn more about the reports. There is no cost, no obligation and no upsell.

Please note that beyond this initiative, BizMiner is a tool that your local SBDC has access to and can work with you on reports at any time.

Small businesses are the heart of our communities. In these uncertain times, we want to help. So we created Salesforce Care to give small businesses resources to help get through the coronavirus crisis.

The IRS has put out a Flow Chart in regards to new employer tax credits.