Small and local businesses are working through COVID-19 with creativity. There are ways you can help, and we've put together a list of assistance and resources available for small business owners and built a hub of content to help you navigate the new normal.
You have probably seen posts from your favorite local business owners who are getting creative to keep their businesses thriving during these uncertain times.
Even with social distancing measures, this Good Housekeeping article suggests ways you can help support local businesses from afar:
- Shop local...online
- Pay in advance for goods or activities you use regularly, even if you're not utilizing them right now
- Purchase a gift card to use when we can safely sit across a table from one another
- Consider curbside pickup or delivery
There are also a number of resources available for small businesses as a response to COVID-19 and the incredible circumstances our local business owners are facing. We’ve put those resources together here and will update as we learn more.
Please share widely with your friends and neighbors and favorite local establishments.
CARES Act: The Coronavirus Aid, Relief, and Economic Security Act
Find out what you need to know about the Paycheck Protection Loan and SBA Economic Injury Disaster Loan programs.
Paycheck Protection Program (PPP) Although the PPP closed on August 8, 2020, there is still very useful information to be found here.
SBA Economic Injury Disaster Loans This loan will provide economic relief to small businesses and non-profit organizations that are currently experiencing a temporary loss of revenue.
City of Columbia
Resilient Columbia Review this guide for reopening and sustainability plans for small businesses in the Midlands. You can also join webinars hosted by the Economic Recovery Task Force.
Small Business Stabilization Forgivable (SBSF) Loan: SBSF loan funds are designed to provide immediate financial relief needed to strengthen our local small business enterprises that have been affected by the COVID-19 pandemic.
Office of Business Opportunities Coronavirus Information and Resources An extensive list of resources including upcoming webinars and events, information for business reopening, a list of state and federal resources, and additional financial resources.
Columbia Chamber of Commerce Business Impact Survey
Covidcap.com Entrepreneur Cash Relief
Covidcap.com is a COVID-19 capital relief resource with a searchable database of over $1 trillion in COVID-19 cash relief resources available to small business and nonprofit entrepreneurs everywhere. It is produced by the Center for the Advancement of Social Entrepreneurship (CASE) at Duke University's Fuqua School of Business.
Facebook Small Business Grants Program
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.
Internal Revenue Service
The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus. They have also added payroll tax credits and other benefits for small business. This page will be updated as new information is available.
IRS Coronavirus Tax Relief
The Makers Collective
COVID-19 Business Resources for Creative Entrepreneurs
National Endowment of the Arts (NEA) COVID-19 Resources for Artists and Art Organizations
Richland County Economic Development Office
This page contains links which provide helpful information regarding the Coronavirus (COVID-19). The sources contain comprehensive information which is updated frequently.
SC Chamber of Commerce
A Guide For Moving Your Business Forward This guide covers workplace safety, employment practices, PPE, and more info as you navigate reopening.
COVID-19 Business Resource Center
SC Department of Consumer Affairs
Protect your finances, your business, and yourself against scams during the Coronavirus.
SC Small Business Development Centers
Small Business Development Centers are equipped to work remotely and will continue to assist clients via phone, e-mail and various online tools. Center phones have been forwarded to consultants and messages are checked regularly. Click the blue box at the top right of the page to sign up for consulting.
SCSBDC Request Counseling (Online)
- Phone: 803-777-0749
- Email: email@example.com
South Carolina Business One Stop (SCBOS)
They've assembled a list of all partners offering assistance in response to COVID-19.
Small Business Administration (SBA)
Find information on Economic Injury Disaster Loan Program, Guidance for Businesses and Employers, SBA Products and Resources, Government Contracting and Local Assistance.
Paycheck Protection Program Current law dictates that the Paycheck Protection Program (PPP) close at the end of August 8, 2020. As such, SBA is no longer accepting PPP applications from participating lenders. However, there is still good information to be found here.
The SBA and Treasury Department posted revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness applications. The Full Forgiveness Application and the EZ Forgiveness Application give borrowers the option of using the original 8-week covered period (if their loan was made before June 5, 2020) or an extended 24-week covered period.
The New EZ version of the forgiveness application requires fewer calculations and less documentation for eligible borrowers. Eligible borrowers are:
- Self-employed and have no employees; OR
- Did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number or hours of their employees; OR
- Experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce the salaries or wages of their employees by more than 25%.
SBA Disaster Assistance Service Center
The Office of Disaster Assistance's mission is to provide low-interest disaster loans to businesses of all sizes, private non-profit organizations, homeowners, and renters to repair or replace real estate, personal property, machinery & equipment, inventory and business assets that have been damaged or destroyed in a declared disaster.
- Phone: 800-659-2955 (TTY: 1-800-877-8339)
- Email: firstname.lastname@example.org
SBA Southeast Regional Office
- Phone: 404-331-4999
SBA Assistance for Women-owned Small Business
- Email: email@example.com
SBA Assistance with Small Business Lender Matching
Use Lender Match to find lenders that offer loans for your business.
U.S. Department of Labor
The Families First Coronavirus Response Act (FFCRA or Act) requires certain employers to provide employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. The Department of Labor’s (Department) Wage and Hour Division (WHD) administers and enforces the new law’s paid leave requirements. These provisions will apply from the effective date through December 31, 2020.
Guidelines and information related to the Families First Coronavirus Response Act.
Women's Business Center of SC
Visit them virtually for online appointment and programs.
OTHER TIPS FOR ENTREPRENEURS
- 198 Free Tools to Help You Through the Coronavirus Pandemic
- A PR Checklist for Entrepreneurs Dealing With the COVID19 Crisis
- Create and Cultivate COVID19 Content Hub
- Small Business Majority COVID 19 Resourcs
Please continue to check back as additional resources will be added periodically.