Shenandoah County Now Accepting Applications for the Third Round of Small Business COVID-19 Recovery Assistance Grants
The Shenandoah County Industrial Development Authority (IDA) along with Shenandoah County Economic Development, Shenandoah County Chamber of Commerce, LFCC Small Business Development Center and the towns of Edinburg, Mount Jackson, New Market, Strasburg and Woodstock have relaunched the Shenandoah County Small Business COVID-19 Recovery Assistance Grant.
Shenandoah County based businesses with less than 50 employees and net revenues below $500,000 for 2019 can apply for a reimbursement for up to $15,000 in rent or mortgage or reopening expenses as a result of the pandemic.
Funding for this grant is thanks to a $500,000 Community Development Block Grant that Shenandoah County Economic Development received through the Virginia Department of Housing & Community Development.
Businesses who have already received a Small Business COVID-19 Recovery Assistance Grant through Shenandoah County are not eligible to apply at this time.
Applications must be received by 5:00 pm on March 5, 2021.
Click here for an application or for more information visit https://shenandoahcountyva.us/economic-development/
The SBA, in consultation with the U.S. Treasury Department, has reopened the Paycheck Protection Program loan portal.
- They are initially accepting First Draw PPP loan applications.
- Second Draw PPP loan applications will open up next
- Businesses must apply through an authorized Bank or Credit Union. Consult with your financial institution to confirm if they are an authorized participant.
- PPP Loans have an interest rate of 1%
- No collateral or personal guarantees are required.
- Neither the government nor the lender will charge small businesses any fees
We encourage you to act quickly and contact your financial institution. Click here for everything you need to know:
A new round of PPP Funding:
- Includes additional $284 billion; businesses can apply for a 2nd round of PPP up to $2 million for businesses with 300 or less employees and a 25% decline in revenue in any quarter in 2020
- Expanded PPP eligibility for non-profits with 300 or less employees
- $12 million designated for minority-owned and very small businesses and $15 billion in grants for live venues
- Provides businesses with a forgivable loan based on 2.5x* its monthly payroll costs. *Restaurants and hotels can seek forgivable loans based on 3.5x monthly payroll costs.
- Simplified PPP loan foregiveness application for loans under $150,000
- Expanded list of eligible expenses (now includes software, cloud computing, HR accounting, property damage not covered by insurance, supplier costs, and PPE)
- Repeals CARES Act provision requiring borrowers to deduct EIDL advance from PPP loan amount
Debt & Tax Relief:
- Extension of the Pandemic Unemployment Assistance and Pandemic Emergency Unemployment Compensation programs for 11 additional weeks; this includes an additional $300/week in unemployment insurance through March 14, 2021
- One year extension to the time states and localities have to spend previously-received coronavirus relief funds
- Extension of the moratorium on evictions through the end of January 2021
- Stimulus checks up to $600 per child and adult for individuals making up to $75,000/year (same cap as earlier CARES Act)
Rural Relief Small Business Grants - funded by Lowe's
As part of their continuing commitment to elevate impact in rural America, LISC is inviting small business owners in rural locations across the country to apply for the LISC-Lowe's Rural Relief Small Business Grants program.
They will support small businesses and enterprises affected by Covid-19 across the country, especially those in underserved communities, including entrepreneurs of color, women- and veteran-owned businesses that often lack access to flexible, affordable capital.
Applications will be reviewed based on criteria designed to prioritize particularly challenged businesses, and the final grantees will be randomly selected from the top scoring applicants. Find More Information Here
The Rebuild VA Grant Fund is a program to help small businesses and non-profits whose normal operations were disrupted by COVID-19, including restaurants, brick and mortar retail, exercise and fitness facilities, personal care and personal grooming services, entertainment and public amusement establishments, and campgrounds. Businesses and non-profits that are approved for a Rebuild VA grant may receive up to 3 times their average monthly eligible expenses up to a maximum of $10,000. Click here for more information.
DOLI Emergency Regulation & Its Impact on Virginia Businesses.
Click here to read the Emergency Standards affecting your business
July 1, 2020: Phase Three Begins
Updated: 7/6/2020
This guide is designed to provide specific measures for businesses across multiple categories to safely remain open, or reopen during these dynamic times. We're here to help our business community succeed which in turn helps our community to prosper. Click here to download.
"We're All in This Together" and will remain #ShenCoStrong and #StrongerTogether
In need of signs for your business - we have these available at no cost to you. Email director@shenandoahcountychamber.com with the number of signs you'd like.
Recovery Resources for Small Businesses The Virginia SBDC recommends using the process here no matter what stage you are in to determine your next steps. This checklist is meant to help guide you through those important questions as you look to reimagine your business and find success in the post-crisis world. Wherever your business may be currently, we suggest starting at the very beginning of the checklist and working your way through.
SBA recommended Webinars:
- Cybersecurity: Protection Online - Watch recording here
- Best eCommerce Platforms for Small Business - Watch recording here
- Promoting Your Small Business on the Web - Watch recording here
- Pivoting Your Small Business: a 30/60/90 Day Plan - Watch recording here
- COVID 19: Business Survival Tool Kit Webinar - Watch recording here
Virginia Hotspots:
Here you can find a map of all public wifi hotspots in Virginia. This resource may be helpful to you if you are working remotely or homeschooling as a result of COVID-19..
Protecting Your Home - 6 Steps to Take Now When Seeking Mortgage Assistance - Click here
Renter's Guide - 6 Steps to Take When You Can't Afford Rent - Click here
Lord Fairfax Health Department Covid 19 Fact Sheets for Businesses:
Coronavirus What You Need To Know (English & Spanish)
What to do if exposed to Coronavirus (English & Spanish)
Virginia Tourism is working closely with the U.S. Travel Association, the Office of the Governor, the Virginia Department of Health, and other state agencies to provide the most up-to-date information to our industry partners, and to take proactive measures to protect the health and safety of our citizens and visitors.
An excellent checklist and tool for business owners provided by the LFSBDC. Download here.
USDA has taken many immediate actions to assist farmers, ranchers, producers, rural communities, and rural-based businesses and organizations impacted by the COVID-19 pandemic. For more information on these actions, visit www.usda.gov/coronavirus
Coronavirus Legal Resource Center
The Coronavirus pandemic has raised several legal questions and concerns. Getting sound legal advice and support at a time like this can go a long way in reducing your stress and protecting your rights. LegalShield lawyers have been working around the clock to provide 4.4 million people and businesses the guidance they need. We are committed to remaining open and available throughout the pandemic to provide legal support. Learn more about how to protect yourself and your legal rights during these uncertain times here.
If you are a worker who has been totally/partially separated
from your job due to Covid-19, click here to file a claim for unemployment insurance. You can also call 1-866-832-2363, Monday - Friday 8:30 AM - 5:00 PM.
All Valley VEC offices are closed at this time but they are able to assist online.
The Virginia Chamber of Commerce released the COVID-19 Resource Center to provide the latest information on COVID-19. We encourage all members of the chamber community to utilize this resource to ensure your business and employees have the necessary information to help prevent the spread of COVID-19.
CDC Guidance & Prevention Protocols for Businesses
The Centers for Disease Control & Prevention (CDC) has issued COVID-19 guidance for businesses and is updating them as new developments occur: Resources for Business & Employers
