SBN’s Response to COVID-19
SBN remains fully operational to serve our local independent business community during COVID-19. This page, as well as our FAQ, will remain updated with accurate, relevant, and timely resources to help you through this time. With your health and safety in mind, we have postponed all in-person programs and events until further notice.
Update: July 1, 2020
Somehow there is both a plethora of resources being offered and not enough or not the right ones, which is contributing to your feelings of confusion and overwhelm.
SBN will continue to curate resources for you. We remain your community of practicing triple bottom line businesses; please lean on us so we can ensure we know your needs and ideas for additional resources, and raise them to the attention of City, State, and Federal decision-makers. We have created a task force and are meeting regularly to discuss the greatest challenges and needs that we can bring to the powers that be.
Meantime, please continue to communicate with us and track your losses. What resources or ideas do you want to share with SBN and your peers to help our community? Please email: [email protected].
This is not an easy time, so please also allow yourself to feel your feelings, remember you are not alone, and reach out for support.
Anna and Allegra
Chief Operating Officer
In communication with our members, including through our COVID-19 Task Force, we have pulled questions together and offer as many answers in our SBN COVID-19 FAQ for Local Independent Businesses. This document will update with questions and answers as they surface. Please message Allegra Derengowski, [email protected] with additional questions and/or answers you have.
COVID-19 LOCAL INDEPENDENT BUSINESS RESOURCES
- FUNDING & FINANCIAL ASSISTANCE
- SBA LOAN FORGIVENESS
- BUSINESS REOPENING GUIDELINES
- BUSINESS SUPPORT
- EMPLOYMENT/ UNEMPLOYMENT & TAX RESOURCES
- NEWS & ANNOUNCEMENTS
- WORKSHOPS & WEBINARS
- GSI PARTNERS
- EMOTIONAL WELL-BEING & SELF CARE
FUNDING & FINANCIAL ASSISTANCE
CITY, STATE, FEDERAL & CORPORATE
- COVID-19 Relief PA Statewide Small Business Assistance – OPEN
- Provides grants ranging from $5K to $50K to small businesses that have been impacted by COVID-19.
- The Pennsylvania CDFI Network, a total of 17 CDFIs, will support small businesses throughout the state to access grant funds.
- Businesses that have a revenue of $1 million or less prior to the impact of COVID-19; and have 25 or fewer full-time equivalent employees prior to February 15, 2020 are eligible to apply.
- PA 30 Day Fund – OPEN
- The non-profit Pennsylvania 30 Day Fund provides forgivable loans for Pennsylvania-based small businesses.
- The forgivable loan is intended to provide immediate financial assistance (within maximum three days) to meet payroll, preserve healthcare coverage for employees and save jobs while they await recently approved federal funding.
- The Federal Reserve’s Main Street Lending Program – OPEN
- The program helps to allow credit flow to small and medium-sized businesses that were in sound financial condition before COVID-19, and now need loans to help maintain their operations until they have recovered from, or adapted to, the impacts of the pandemic.
- Loan ranges are between $250K – $3M.
- SBA Economic Injury Disaster Loan – OPEN
- Reopened as of Monday, June 15.
- The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital for vital economic support to small businesses to help overcome loss of revenue due to COVID-19.
- Loans are up to $2M dollars with up to a 30 year term.
- Advances up to $10K do not have to be repaid, and covers the period of February 15, 2020 to December 21, 2020.
- Any small business with less than 500 employees, private non-profit organization or 501(c)(19) veterans organizations is eligible.
- SBA Express Bridge Loans – OPEN
- These loans provide an urgent need for cash while waiting for a decision and disbursement on EIDL.
- The loan temporarily increases the maximum loan from $350K to $1M for loans approved from March 27, 2020 through December 31, 2020.
- All loans to veteran-owned small businesses approved on or after March 27, 2020, the upfront guaranty fee will permanently be zero.
- SBA Paycheck Protection Program – UPDATE
- As of Tuesday, June 30 at 11:59 PM EDT, the deadline to apply for a Paycheck Protection Program loan passed.
- The loan provides a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
- Effective Tuesday, June 16, The Paycheck Protection Program’s new EZ version application requires fewer calculations and less documentation for eligible borrowers. Both applications 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 changes will make it easier for businesses to receive full forgiveness of their PPP loan.
- LISC Small Business Relief Grant Application – OPEN
- The grant supports small businesses and enterprises affected by the pandemic, especially those in underserved communities, including entrepreneurs of color, women- and veteran-owned businesses.
- Grants are available between $5K and $10K.
- The Red Backpack Fund – OPEN
- Created by the Spanx by Sara Blakely Foundation and in collaboration with GlobalGiving, grants are available to female entrepreneurs in the U.S. to help alleviate the immediate needs and support the long-term recovery of those impacted by this crisis.
- Offers microgrants of $5K.
- Each month, they will accept applications. The portal will reopen for applications again on May 4, June 1, July 6, and August 3.
- Facebook Small Business Grants – OPEN
- Will offer $100M in cash grants and ad credits to help small businesses during COVID-19.
- Up to 30,000 eligible small businesses in more than 30 countries will be able to receive the grant.
- Chester County Main Street Preservation Program – OPEN
- Chester County Commissioners have set aside $5M to provide funding for small businesses and agricultural enterprises in Chester County that were unable to take advantage of federal and commonwealth existing COVID-19 response programs.
- Grants of up to $25K will be available to all eligible businesses.
- Eligibility include for-profit small businesses and agricultural enterprises formed and active in 2019 or earlier, with annual revenues of $500K or less.
- Businesses must be physically located and headquartered in Chester County.
- Healthy Food Financing Initiative – OPEN
- The program aims to provide additional capacity building and financing resources to build a more equitable food system that supports the health and economic vibrancy of all Americans.
- Provides up to $3M in grants, and a letter of interest is due by July 10.
PHILADELPHIA AREA MICROLENDERS/ CFDIs/ MICRO RELIEF FUNDS
- PPP Through Lendistry – OPEN
- Goldman Sachs, in partnership with Lendistry, a CDFI, has dedicated $10M in PPP loans to help Philadelphia area small businesses without relationships with traditional lenders.
- Low interest loan with a 2 year term.
- Any small business with less than 500 employees is eligible including private non-profit organizations or 501(c)(19) veterans organizations.
- Finata Emergency Loan – OPEN
- For entrepreneurs affected by COVID-19 and other emergencies.
- Funds can be used for most business needs including working capital, equipment, inventory and supplies.
- Provides $5K – $15K for immediate relief with no closing fees.
- West Philadelphia Financial Services Institution (WPFSI) Loans – OPEN
- WPFSI provides small business loans throughout Philadelphia for: Working Capital, Purchasing Real Estate, Renovation or Construction on an Existing Building, Purchasing Inventory, Taking Advantage of Business Opportunities, and Purchasing Equipment or Furniture.
- Provides a variety of loans that range from $1K to $100K.
- The Enterprise Center COVID-19 Loan – OPEN
- The tiered fund provides a loan of up to $100K for businesses with up to $250K revenue and a $20K loan for businesses with up to $50K revenue.
- Eligibility requires Philadelphia-based small businesses with at least one employee operating for at least six months prior to the coronavirus pandemic.
- Small business owners must attend a virtual office hour.
- Grow Philadelphia Small Business COVID-19 Resilience Fund – OPEN
- Supports minority-owned contractors and related small businesses affected by the pandemic. The fund offers low-interest loans with flexible payment terms to eligible businesses.
- Grow Philadelphia Capital Initiative – OPEN
- The fund offers low interest loans to qualified minority-owned construction businesses to cover the cost of service contracts.
- Can finance construction loans for a maximum of $50K
- The fund is eligible for construction business owned and operated by ethnic minorities working on a contract(s).
- Theatre Philadelphia Emergency Relief – OPEN
- Awards micro-grants of $300 to individuals who live in the Philadelphia region, work in theatre, and whose theatre income has been impacted by COVID-19.
- Eligibility is for participants in the Philadelphia Region’s theatre community and have evidence of income loss due to COVID-19.
- Neighborhood Progress Fund – OPEN
- Offers Philadelphia area small business loans and business development services to entrepreneurs and businesses in distressed communities.
- Women’s Opportunities Resource Center Loans – OPEN
- Provides low–interest loans, including professional services, and referrals to partner banks and community loan funds for small businesses.
- Small Landlord Rental Improvement Fund – OPEN
- PHDC, in partnership with Impact Loan Fund, has launched a pilot program to finance repairs and renovations for landlords to improve apartments for affordable rentals. The fund will lend to landlords who own fewer than ten apartments in Philadelphia, and who need to improve their units to address health and safety-related repairs.
- Loans are between $10K to $25K.
- Restore and Reopen Grant Program – OPEN
- The grant program provides grants to small, independently owned businesses in historically disadvantaged communities that have suffered property damage, vandalism or inventory losses during the recent civil unrest.
- Grants will be made up to $10K depending on the extent of damage and needs of the business.
- Restart PHL Loan Fund – SOON TO OPEN
- The loan program provides flexible low-cost capital to small businesses with less than $5M in revenue for costs associated with improved business resilience or growth, including working capital, fit-up, inventory, technology, mobilization, re-hiring, and employee training.
- Targeted to historically disadvantaged communities with a specific focus on minority, women, and immigrant-owned businesses located on commercial corridors in low-income areas.
- Loan application and additional program details are forthcoming.
- KIVA – OPEN
- Gives entrepreneurs access to zero percent interest small business loans. These loans are funded by hundreds of lenders from around the world.
- First loans through Kiva can be up to $10K. They will approve your loan amount before the crowdfunding begins. Once you meet your goal, loans must be repaid in 36 months or less.
- Loans are interest free.
- Honeycomb Credit – OPEN
- Provides community sourced low-interest loans for small businesses impacted by COVID-19.
- Offers three options for loan relief, generally between $10K – $50K.
BUSINESS REOPENING GUIDELINES
As business operations in our region begin to reopen we will continue to update this section with pertinent information.
- CDC (Centers for Disease Control and Prevention) Reopening Resources – Recommendations and resources for businesses and workplaces planning, preparing, and responding to COVID-19.
- OSHA (U.S. Department of Labor’s Occupational Safety and Health Administration) – Offers guidance on preparing workplaces for COVID-19.
- PA’s Process to Reopen – Gov. Wolf’s guide and recommendations for businesses to reopen in Pennsylvania.
- Here’s a guide from the Pennsylvania Department of Health on public health safety measures for businesses that are permitted to maintain in-person operations.
- The City of Philadelphia
- The City offers a guide through a Safer at Home order that details how businesses can reopen safely.
- As of Thursday, June 18, The City release a new report on moving to the green phase, also known as Reopening with Care.
- The City of Philadelphia
- Philadelphia’s Department of Commerce and PIDC are gathering information about the impact that COVID-19 has on Philadelphia-based businesses. Their survey is in the following languages: English, Spanish, Chinese Mandarin, and French.
- U.S. Federation of Worker Co-ops – Offers resources linking to webinars, CDC news and updates, financial relief resources, emergency planning checklists, and more.
- Pennsylvania Landscape and Nursery Association (PLNA) – Offers guidance and updates on landscape services, greenhouse nursery and floriculture production, and retail garden centers throughout Pa.
- Ballard Spahr – Provides small businesses with legal guidance and resources during COVID-19. Sign up to receive alerts and specify which topics are pertinent to your business.
- PHL Emergency Business Insurance Support – Provides assistance for small business owners on insurance policies, filing and reviewing claims.
- Women’s Business Enterprise Center – Offers assistance with preparing SBA EIDL applications and ongoing workshops.
- U.S. Senate Committee on Small Business & Entrepreneurship – Offers a guide on The CARES Act.
- U.S. Chamber of Commerce – Provides a guide to the SBA’s Economic Injury Disaster Loans.
- SBA’s COVID-19 Relief Loan Overview – This guide explains and outlines Economic Injury Disaster Loans and the Paycheck Protection Program.
- Philadelphia’s Commerce Department’s Office of Business Services – stands ready to support businesses. They can be reached via a hotline (215-683-2100) and by email.
- ICIC – Is supporting local businesses by sharing a wealth of information and external resources as they become available.
- Philly VIP – Matches businesses with pro bono legal services during COVID-19.
- Social Distancing Posters – Operating an essential business? Download, print, and hang these informational posters about social distancing in your business. Different languages available. – Download here.
EMPLOYMENT/UNEMPLOYMENT & TAX RESOURCES
- PA’s Pandemic Unemployment Assistance – Provides individuals in PA who have traditionally been ineligible for unemployment benefits can apply. Those eligible are: self-employed workers, independent contractors, and gig workers.
- PA’s Office of Unemployment Compensation – Employees in PA whose hours have been reduced or eliminated as a result of COVID-19 are eligible for unemployment or workers compensation benefits. You can file a claim here.
- PA Career Link: Unemployment Compensation – Has a one pager response to COVID-19. Download PDF here.
- City of Philadelphia’s Sick Leave Policy – Requires sick staff to stay home.
- What to Do if an Employee Tests Positive for COVID-19 – Download PDF here.
- Business Income and Receipts Tax and Net Profits Tax – Both taxes are extended to July 15, 2020.
NEWS & ANNOUNCEMENTS
- As of Thursday, June 18, Governor Wolf signed amended green phase orders for eight counties in the state. Currently, there are 54 counties in green and 13 counties that remain in the yellow phase including the Greater Philadelphia region. See Governor Wolf’s order here.
- As of Friday, June 5, Philadelphia and the remaining counties in the red phase will turn yellow, easing stay-at-home restrictions throughout the state. See Governor Wolf’s order here.
WORKSHOPS & WEBINARS
- PA SBDC – Offers webinars on the SBA’s EIDL program.
- Temple University SBDC – The center remains operational during COVID-19. In addition to specialized workshops on resources, response and management amid the crisis (see their events below), Temple SBDC is offering free office hours with a business consultant Monday – Friday from 3 – 5pm via Zoom.
- Widener University SBDC – The center offers information and resources to business owners during COVID-19, including past slides and recordings of webinars.
- Women’s Opportunities Resource Center – Offers webinars on ways businesses can navigate during COVID-19.
- PIDC – Provides webinars for small business owners.
- UPDATE – The Philadelphia Water Department has postponed the construction of many capital improvement projects due to the financial impacts of COVID-19. However, they intend to continue activating planning and design contracts to queue up future capital improvement projects. The current suspension of non-emergency construction will not impact capital improvement planning and design services. Please direct questions to Glen Abrams, PWD Deputy Commissioner for Communications and Engagement: [email protected]
- Philadelphia Water Department’s Private Development Services – The website provides updates on construction projects.
- Philadelphia Water Department’s Stormwater Grant Program – The grant application is extended to July 1, 2020, as well as the pre-application meeting deadline.
EMOTIONAL WELL-BEING & SELF CARE
- Philadelphia Department of Behavioral Health and Intellectual disAbility Services – Offers mental health and addiction services to residents.
- Mental Health America – Provides resources and information with those coping with COVID-19.
- CDC (The Centers for Disease Control and Prevention) – Offers advice on managing stress and anxiety.
- NAMI (National Alliance on Mental Illness) – Has detailed information and a resource page for coping with COVID-19.