U.S. Congresswoman Lisa Blunt Rochester
COVID-19 Small Business Resource Guide
(Updated on 6/3/2021)
During this uncertain time, small businesses are some of the most economically impacted. Below are resources specifically for small businesses. We will continue to address the economic impact of COVID-19 on small businesses in future legislation.
Small Business government agencies:
· The Small Business Administration (SBA) provides several resources to assist small businesses impacted by the COVID-19 pandemic. To review loan resources for small businesses offered by the SBA, visit their website here.
· For more information from the Delaware Division of Small Business, please visit https://business.delaware.gov/coronavirus/.
Loans and Grants for Small Businesses:
· For more information on PPP, visit the Small Business Administration's PPP website. Please click here to find an updated FAQ on the Paycheck Protection Program from the Department of Treasury.
· To learn about how to receive PPP loan forgiveness, click here.
· To calculate your business maximum PPP loan amount eligibility, please click here.
· The SBA also administers COVID-19 Economic Injury Disaster Loans (EIDL). More information about the program can be found here.
Paycheck Protection Program (PPP)
· The CARES Act created loans through a new SBA 7(a) Paycheck Protection Program (PPP) can be forgiven when used for payroll costs (including paid leave, health care, and other costs) to retain workers, and other expenses such as rent, mortgage interest, and utilities. Independent contractors, sole-proprietors, and other self-employed persons are eligible for these loans. Click here for more info. The PPP closed for new applicants on May 31, 2021. Borrowers may still be eligible for PPP loan forgiveness, click here to learn more.
· A guide to the PPP for small business owners from the SBA can be found here, and a guide from the Treasury can be found here.
· For information for first draw PPP borrowers, go here. Second draw PPP borrowers can go here for further information.
· You can read more about PPP loan forgiveness and find if you qualify here.
State of Delaware Assistance
· The Delaware Division of Small Business is offering funds to small businesses and non-profits in the hospitality industry affected by COVID-19. To learn more about and to apply for the Hospitality Emergency Loan Program (HELP), please click here.
· New Castle County and the State of Delaware have joined together to assist small businesses and nonprofits in Delaware to create the Delaware Relief Grants from CARES Act funding. You can learn more about these grants and apply here.
Paid Sick and Family Leave Tax Credit:
· The Families First Coronavirus Response Act required employers to provide paid sick leave and expanded family and medical leave through December 31, 2020.
· Small and midsized employers that provided paid sick and family leave wages to their employees for leave related to COVID-19 may be eligible for refundable tax credits. Learn more about related tax credits here.