Free Cares Act Guide For Small Businesses Webinar
Date: Friday, April 3, 2020
Click Here to Register
If you have been, or expect to be financially impacted, you may want to be proactive in contacting your bank(s), lender(s) and supplier(s) to determine what steps can be taken to mitigate the impact. If your business has an existing SBA 7(a) loan, 504 loan or Microloan, please contact your lender to discuss your options. You may also contact your insurance company to determine if your business insurance will cover any losses due to the current emergency and steps you would need to take to file a claim.
Small Business Administration:Each state’s governor, including the Commonwealth of Pennsylvania, has the option to apply to the federal government to declare Pennsylvania counties eligible for SBA’s Economic Injury Disaster Loans (EIDL). Once a declaration is made, businesses can apply online at https://disasterloan.sba.gov/ela.
To prepare for the online application, businesses are encouraged to review the SBA Disaster Business Loan Application paper forms at https://disasterloan.sba.gov/ela/Information/PaperForms.
DCED offers working capital loans that could be of assistance to businesses impacted by COVID-19. Resources and information will be posted when they become available to https://dced.pa.gov/resources/
If your business has been affected, you may email the Pennsylvania Department of Community and Economic Development Business One-stop Shop information regarding your status to firstname.lastname@example.org, using the form “ESTIMATED DISASTER ECONOMIC INJURY WORKSHEET.” Pennsylvania Business One-Stop Shop can be reached at 1-833-722-6778, Option 0 or online at https://business.pa.gov/.
Applications are now being accepted for the COVID-19 Working Capital Access (CWCA) Program, administered by the Pennsylvania Industrial Development Authority (PIDA). The program will provide critical working capital financing to small businesses located within the Commonwealth that are adversely impacted by the COVID-19 outbreak. All CWCA loan applications must be submitted through a Certified Economic Development Organization (CEDO).
To help deliver the working capital that businesses need, Honeycomb is offering 45-day payment free periods, 6-month interest-only periods and reducing our posting, success, and investor fees.
CDC issued new guidance recommending that for the next 8 weeks, organizers should consider canceling or postponing in-person events that consist of 50 people or more throughout the US:
CDC Business Response- Interim Guidance for Businesses and Employers
PA Chamber business resources: https://www.pachamber.org/coronavirus/
The US Chamber has also launched a Coronavirus Response Toolkit: https://www.uschamber.com/coronavirus-response-toolkit
Lehigh University Small Business Development Center: https://sbdc.lehigh.edu/