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 has extended the Payment Protection Program (PPP) until May 31, 2021. All eligible entities can apply through participating lenders.
Over $16 Billion in economic relief will go to the Shuttered Venue Operators Grant. Due to some technical issues the SBA has temporarily suspended the portal will re-open as soon as possible. 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.
The SBA has increased the maximum amount small businesses can borrow through the Economic Injury Disaster Loan (EIDL) program. Starting the week of April 6, 2021, the SBA will increase 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
- ABC of SBIR/STTR - June 9
- Identifying SBIR/STTR funding opportunities and developing the Aims page for your project - June 14
- Rising Minimum Wage Rates & How They May Impact Your Business - June 16
- SBA: Financing for Your Small Business - June 17
- SBA: Introduction to Gov. Contracting & HUBZone Certification - June 22
- Business Builders Workshop: Business Entities and Limited Liability Protection - July 13
- SBA: Getting Back on Track - July 29
- Business Builders Workshop - Business Planning using a Bubble Chart Road Map - Aug 10
- Business Builders Workshop: Doing Business with the Federal Government - Sept 14
- Business Builders Workshop: Personalized Marketing
- BBW BONUS: Connect with Customers & Manage Your Business Remotely - Recording
- BBW: Creating Video that Stands Out in the Digital Age - Recording
- SVOG Information Session
- National Restaurant Association Webinars
- THRYV: Connect for HVAC Contractors - Recording
- Business Builders Workshop: Cash Flow
- 4R Webinar: Disaster Planning - Riots, Floods, and Hurricanes - Oh My! Two part series Part 1 & Part 2
- 4R Webinar: Understanding the Families First Coronavirus Response Act (FFCRS)
- Business Builders Workshop: Business PLan Review - Get Ready for the New Year!
- Business Builders Workshop BONUS: What's the Score? Credit Reports and Scores at a Glance
- 4R Project: Tax credits under the ERC and FFCRA
- Business Builders Workshop: Budgeting for Success
- 4R Project: SBA Update on the New Stimulus Package
- National Federation of Independent Business (NFIB) - What you Need to Know on Applying for a Second (or initial) PPP!
- SBA Shuttered Venue Operators Grant Program
- 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
- ND SBA & Resource Partners: Restaurant Revitalization Fund (RRF) - April 27 or April 28
- Business Builders Workshop: Creating Video that Stands Out in the Digital Age
Establishing or Improving Your Credit Score
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.
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
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.