Coronavirus Business Resources
To better assist our clients, we have prepared the following resources as we know them currently.
4-8-2020 COVID 19 - Grants & Loans For Small Business
NJSBDC will review:
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Paycheck Protection Program (PPP)
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SBA Economic Injury Disaster Loan (EIDL)
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SBA Express Bridge Loan
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SBA Small Business Debt Relief Program
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NJEDA Grants & Loans
3-25-2020 SBA Disaster Loan Process and Funding Options
NJSBDC will review:
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How to Apply for the Disaster Loan
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Disaster Loan Application
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NJ Department of Labor Programs
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RBAC Loan Program
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Grants
Small Business Administration (SBA)
https://disasterloan.sba.gov/ela/
NJDO Disaster Loan (EIDL) Application Instructions
https://www.sba.gov/disaster-assistance/coronavirus-covid-19
https://www.sba.gov/disaster-assistance/coronavirus-covid-19#section-header-1
https://disasterloan.sba.gov/ela/Documents/Three_Step_Process_SBA_Disaster_Loans.pdf
https://disasterloan.sba.gov/ela/Documents/SBA-Disaster-Assistance-Loans-Businesses-Nonprofits.pdf
NJSBA Lenders
See Page 32: https://www.sba.gov/sites/default/files/files/resourceguide_3131.pdf
FEMA
https://www.fema.gov/coronavirus
New Jersey Economic Development Authority (NJEDA)
Emergency Assistance Eligibility Wizard
NJEDA Small Business Emergency Assistance Grant (Applications Close at 9 AM on April 10, 2020)
NJEDA Announces New Initiatives to Support Businesses Impacted by COVID-19: https://www.njeda.com/Press-Room/News-Articles/Press-Releases/NJEDA-Announces-New-Initiatives-to-Support-Busines
A New NJEDA Loan Program for Businesses - The N.J. Economic Development Authority chose six community lenders to lend a combined $20 million to $30 million to small businesses. Businesses can apply directly to the lenders - Click Here For Details
SBA Debt Relief
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief
CARES
https://www.natlawreview.com/article/summary-cares-act
https://www.dol.gov/agencies/whd/pandemic/ffcra-employer-paid-leave
Small Business Owner's Guide to the CARES Act
CARES Act Fiscal Stimulus Package Update
Paycheck Protection Program: through June 30, 2020, or until funds made available for this purpose are exhausted
SBA Resources The Paycheck Protection Program is designed to provide a direct incentive for small businesses to keep their workers on payroll by providing each small business a loan up to $10 million for payroll and certain other expenses.
If all employees are kept on payroll for eight weeks, SBA will forgive the portion of the loans used for payroll, rent, mortgage interest, or utilities. Up to 100 percent of the loan is forgivable.
https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp
Small Business Administration (SBA) Lenders - Start on Page 32 - https://www.sba.gov/sites/default/files/files/resourceguide_3131.pdf
US Department of Treasury: https://home.treasury.gov/cares
$350 billion is made available for a new Small Business Administration Paycheck Protection Program (PPP).
The program would provide cash-flow assistance through 100 percent federally guaranteed loans to employers who maintain their payroll during this emergency. If employers maintain their payroll, the loans would be forgiven, which would help workers remain employed, as well as help affected small businesses and our economy to snap-back quicker after the crisis. PPP has a host of attractive features, such as forgiveness of up to 8 weeks of payroll based on employee retention and salary levels, no SBA fees, and at least six months of deferral with maximum deferrals of up to a year. Small businesses and other eligible entities will be able to apply if they were harmed by COVID-19 between February 15, 2020 and June 30, 2020. This program is would be retroactive to February 15, 2020, in order to help bring workers who may have already been laid off back onto payrolls. Loans are available through June 30, 2020.
Paycheck Protection Program (PPP) Information Sheet: Borrowers
Paycheck Protection Application
Lenders participating in PPP
State of New Jersey
The State of New Jersey has established a special website devoted to business concerns during the coronavirus emergency. The site, cv.business.nj.gov, will be updated as new information becomes available. We encourage you to communicate this with the appropriate individuals within your organization.
In addition, the New Jersey Business Action Center’s Helpline is now available from 8:00 am – 9:00 pm, seven days a week. Call 1-800-JERSEY-7 to address any concerns you or your employees have.
Manufacturing
If you manufacture and/or distribute products please click here
COVID-19 Manufacturers Resource Hub: ThomasNet created this resource hub to help you and your industrial business with the mission-critical, real-time data and information - Click Here To Access The Hub
New Jersey Department of Labor
Pandemic Unemployment Assistance
Unemployment: https://myunemployment.nj.gov/
COVID-19 Jobs & Hiring Portal: https://jobs.covid19.nj.gov/intake
https://www.nj.gov/labor/employer-services/business/covid.shtml
https://www.nj.gov/labor/assets/PDFs/COVID-19%20SCENARIOS.pdf
For Employees: https://www.nj.gov/labor/worker-protections/earnedsick/covid.shtml
Congress Finalizes COVID-19 Coronavirus Response Act: Prepare To Provide Paid Sick Leave And FMLA: https://www.fisherphillips.com/resources-alerts-congress-finalizes-covid-19-coronavirus-response-act
Frequently Asked Questions - https://www.nj.gov/labor/assets/PDFs/NJWorkersFAQs.pdf
Grants
Nav’s Small Business Grant: https://www.nav.com/business-grant-contest/
Facebook Grants: Facebook has announced they will be providing $100 million in cash grants or advertising to small businesses. For more information go to www.facebook.com/grantsforbusiness
Kiva Loans: The nonprofit organization Kiva provides 0% interest loans to small businesses worldwide. They are expanding eligibility and the amount of loans provided during this crisis. For more information, go to https://www.kiva.org/blog/support-local-businesses-during-the-coronavirus-pandemic
The U.S. Chamber Foundation: Is teaming up with a coalition of companies to establish the Save Small Business Fund, and provide $5,000 grants to help small employers with between 3 to 20 employees, located in an economically vulnerable community and have been harmed financially by the COVID-19 pandemic. For More Information Click Here
IRS
https://www.irs.gov/coronavirus
INCOME TAX PAYMENT DEFERRALS. Treasury Secretary Mnuchin said that both individuals and corporations could defer income tax payments for 90 days.
NJ Division of Taxation
New Jersey extending state tax filing, budget deadlines (updated): https://njbiz.com/new-jersey-extending-state-tax-filing-budget-deadlines/
Filing Deadline is July 15, 2020: https://www.state.nj.us/treasury/taxation/
USDA
Guidance from the CDC
https://www.cdc.gov/coronavirus/2019-ncov/
New Jersey Department of Health
https://www.nj.gov/health/cd/topics/covid2019_schoolbusiness.shtml