COVID 19 Resources

During these difficult times, it is important to have the information you need to keep your business and yourself moving forward.  We have pulled together information on sources of financial relief for COVID 19.  We hope you continue to be safe and well during these challenging times.

SBA Disaster Assistance

The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). (3/14)


SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.


These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.

Additional SBA Resources

Automatic deferment of previous SBA loans

Automatic deferment of previous SBA loans

Automatic deferment of previous SBA loans

          U.S. Small Business Administration Administrator Jovita Carranza announced changes   to help borrowers still paying back SBA loans from previous disasters. By   making this change, deferments through December 31, 2020, will be automatic.   Now, borrowers of home and business disaster loans do not have to contact SBA   to request deferment.    

EIDL Under the CARES Act

Automatic deferment of previous SBA loans

Automatic deferment of previous SBA loans

Customers have questions, you have answers. Display the most frequently asked questions, so everybody benefits.These loans are provided by the SBA to SBCs1, private non-profits, small agricultural co-ops, and employee stock ownership plans (ESOP) with less than 500 employees. A business can receive $2,000,000, including a $10,000 advance at the time of application, for assistance to overcome a disaster, which now includes the COVID-19 public health emergency.

SBA Disaster Assistance - New York

Automatic deferment of previous SBA loans

SBA Disaster Assistance - New York

The   U.S. Small Business Administration is offering designated states and   territories low-interest federal disaster loans for working capital to small   businesses suffering substantial economic injury as a result of the   Coronavirus (COVID-19).    

Paycheck Protection Loans (CARES Act)

There's much to see here. So, take your time, look around, and learn all there is to know about us. We hope you enjoy our site and take a moment to drop us a line.New SBA-backed Paycheck Protection loan program will help small businesses pay for expenses with the following provisions:


- Loans taken by small businesses to keep employees on payroll may be forgiven.

- 501(c)(3)s will also be eligible for this program.

- Federal government will forgive 8 weeks of cash flow, rent, and utilities at 100% up to 2.5x average monthly payroll.


- The law provides $350 billion for this loan program. . 

- Businesses and 501(c)(3)s with less than 500 employees are eligible for this new loan. 

- Sole proprietors, independent contractors, and self-employed individuals may also be eligible. 

- Physician practices are eligible regardless of how they are structured.

- Small businesses in the hospitality and food industry that have less than $500 million in gross receipts with more than one location could also be eligible at the store and location level if the store employs less than 500 workers. This means that each store location could be eligible. 

- If your franchisor appears in the SBA's National Franchise Directory, assistance will extend down to the franchisee at the store or location level.

OTHER sources

Families First Coronavirus Response Act

Families First Coronavirus Response Act

Families First Coronavirus Response Act

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Worker Protections — The package requires employers to provide two weeks paid sick leave and up to three months of paid family leave for employees affected by the virus, the cost of which could then be claimed by the employer as a tax credit.

Healthcare Waivers

Families First Coronavirus Response Act

Families First Coronavirus Response Act

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The Secretary of Health and Human Services will be able to immediately waive provisions of applicable laws and regulations to give doctors, all hospitals, and healthcare providers maximum flexibility to respond to the virus and care for patients. (3/13)

Loan Relief

Families First Coronavirus Response Act

Main Street Lending Program

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FSA is extending deadlines for applicants to complete farm loan applications and for producers to respond to loan servicing actions, including loan deferral consideration for financially distressed and delinquent borrowers. Guaranteed lenders can self-certify, providing their borrowers with subsequent-year operating loan advances on lines of credit and emergency advances on lines of credit for applicants to complete farm loan applications 

Main Street Lending Program

Rural Business-Cooperative Services

Main Street Lending Program

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The Federal Reserve has announced a $600 billion lending initiative designed for mid-sized businesses to ensure the easy flow of credit through the newly unveiled Main Street Lending program as part of a $2.3 trillion funding effort to minimize the financial impact of the coronavirus.


The Fed is offering four-year loans to companies employing up to 10,000 workers and with revenues of less than $2.5 billion per year. The terms of those loans will also permit principal and interest payments to be deferred for a year.

Federal Student Loan Relief

Rural Business-Cooperative Services

Rural Business-Cooperative Services

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     COVID-related   guidance: If you’re having trouble making payments, contact your loan   servicer as soon as possible. If you have a federal Perkins Loan, contact   your school. You can easily avoid the consequences of delinquency or default   by staying in touch with your servicer or school.
 

   Your servicer or school can provide information about deferment or   forbearance options that allow you to temporarily stop making payments on   your loans. You may also be able to change to a different repayment plan that   would give you a lower monthly payment.    

Rural Business-Cooperative Services

Rural Business-Cooperative Services

Rural Business-Cooperative Services

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Beginning immediately, through July 31, 2020, USDA Business and Industry Loan Guarantees (B&I) and Rural Energy for America Program (REAP) Guaranteed lenders may assist borrowers experiencing temporary cash flow issues by deferring payments for a period no longer than 120 days. The lender must  notify The Agency in writing of any payment deferments.

Rural Business-Cooperative Services - Part 2

Direct and Guaranteed Loans (USDA Rural Development)

Direct and Guaranteed Loans (USDA Rural Development)

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USDA extended the application deadline for the Rural Business Development Grant (RBDG) program to no later than April 15, 2020. Contact the Rural Development office for the deadline in your state.


USDA announced the extension in an Unnumbered Letter posted March 19, 2020.

• USDA extended the application deadline for the Rural Energy for America Program (REAP) to April

15, 2020. For additional information, see page 16925 of the March 25, 2020, Federal Register. 

Direct and Guaranteed Loans (USDA Rural Development)

Direct and Guaranteed Loans (USDA Rural Development)

Direct and Guaranteed Loans (USDA Rural Development)

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Effective March 19, borrowers with USDA single-family housing Direct and Guaranteed loans are subject to a moratorium on foreclosure and eviction for a period of 60 days. This action applies to the initiation of foreclosures and evictions and to the completion of foreclosures and evictions in process.

Guaranteed Loan Program:


• Guaranteed Loan borrowers who are in default or facing imminent default due to a documented hardship can have payments reduced or suspended by their lender for a period not to exceed 12 months delinquency. 

• Guaranteed Loan servicing questions should be directed to: sfhgld.program@usda.gov.

Direct Loan Program:

• USDA has waived or relaxed certain parts of the application process for Single-Family Housing Direct Loans, including site assessments, and has extended the time period that certificates of eligibility are valid.

• A Direct Loan borrower who is experiencing a reduction of income by more than 10 percent can request a Payment Assistance package to see if he/she is eligible for payment assistance or for more assistance than currently received.

• Moratorium Assistance is available for Direct Loan borrowers experiencing medical bill expenses (not covered by insurance) or job loss because of COVID-19. 

• Direct Loan questions should be directed to USDA’s Customer Service Center at 800-414-1226 (7:00 a.m.-5:00 p.m. Eastern Time Monday-Friday) or https://www.rd.usda.gov/contact-us/loan-servicing.