RECOVER - 4R Project
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.
“The Paycheck Protection Program provided over 8.5 million small businesses and nonprofits the lifeline they needed to survive during a once-in-generation economic crisis. I’ve heard story after story from small business owners across the country about how PPP funds helped them keep the lights on, pay their employees -- and gave them hope,” said SBA Administrator Isabella Casillas Guzman. “At the same time, millions of underserved businesses – particularly our smallest businesses and those owned by women and people of color – were left out of early rounds of relief. I’m proud of the work we did to begin to rectify these inequities -- in 2021, 96% of PPP loans went to small businesses with fewer than 20 employees. Moving forward, we will continue to prioritize equity in all SBA’s programs and services.”
The PPP is only one of eight disaster relief programs established by Congress to assist small businesses during the COVID-19 pandemic. Other programs include Economic Injury Disaster Loan (EIDL), EIDL Advance, Targeted EIDL Advance, Supplemental EIDL Advance, Restaurant Revitalization Fund, Shuttered Venue Operators Grant, and SBA Debt Relief program. To learn more about these programs, please visit www.sba.gov/relief.
Federal Funding Programs Update
- The SBA Payment Protection Program (PPP) ended on May 31, 2021.
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Over $16 Billion in economic relief will go to the Shuttered Venue Operators Grant. Eligible industries include live venue operators or promoters, theatrical producers, live performing arts organization operators, relevant museum operators, zoos and aquariums meeting specific criteria, motion picture theater operators, and talent representatives.
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The SBA Economic Injury Disaster Loan (EIDL) program increased the loan limit to 24 months of economic injury with a maximum loan amount of $500,000.
- NEW: $100 million to establish a Community Navigator pilot program; grants will go to eligible organizations supporting efforts to improve access to COVID–19 pandemic assistance programs and resources.
Learn more about the specifics for each option on the SBA website. As we learn more, we will update content on this and other portions of our website.
Online Training, Events & Recordings
Upcoming Events
- Comply Right: Labor Law Compliance Requirements Employers Often Overlook - Oct 20
- Manufacturing Institute: Manufacturing Supply Chain - Oct 21
- ND SBDC - Business Builders Workshop: Is Your Website Ready for 2022? - Nov 9
- ND SBDC & Minot Chamber EDC: Is There an App for That? (in-person/virtual attendance options) - Nov 10
- ND SBDC - Business Builders Workshop: Fueling Growth – Dec 14
Recordings
- Business Builders Workshop: Maximizing the Value of Your Business
- Business Builders Workshop BONUS: Shop North Dakota
- Business Builders Workshop: Doing Business with the Federal Government
- Business Builders Workshop: Business Planning using a Bubble Chart Road Map
- Business Builders Workshop: Business Entities and Limited Liability Protection
- Business Builders Workshop: Personalized Marketing
- Business Builders Workshop: The Importance of Having a BAIL Team
- Business Builders Workshop BONUS: The WBC Library, COVID help at your fingertips
- Business Builders Workshop: Marketing on a Small Budget
- Business Builders Workshop: Creating Video that Stands Out in the Digital Age
- Business Builders Workshop: Budgeting for Success
- Business Builders Workshop BONUS: Connect with Customers & Manage Your Business Remotely
- 4R Project: Tax credits under the ERC and FFCRA
- 4R Project: SBA Update on the New Stimulus Package
A major hurdle that many small businesses have faced during this time is not a lack of funding options, but rather a credit score that stands in the way of that funding. Our thanks to the ND SBA District Office for putting together some tips and helpful links to assist in establishing or improving your credit score.
Funding Options
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.
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 information to assist small businesses with surviving and recovering from the pandemic.
NDSU and the Nice Center have teamed up with Microsoft to develop a recovery and assistance tool that contains information on 150+ federal, state, and local resources to support individuals, small businesses, and non-profits affected by the pandemic. Nice.help
Tools
America’s SBDC partners are doing their part to help small businesses during the the COVID-19 pandemic.
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.