Small Business Resources

Bankers to Small Businesses: Don't do these things if you want to qualify for SBA Loan Relief Program 

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Small Business Association's Disaster Relief Lending

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

Process for Accessing SBA’s Coronavirus (COVID-19) Disaster Relief Lending

  • 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). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration.
  • Any such Economic Injury Disaster Loan assistance declaration issued by the SBA makes loans available statewide to small businesses and private, non-profit organizations to help alleviate economic injury caused by the Coronavirus (COVID-19).
  • SBA’s Office of Disaster Assistance will coordinate with the state’s or territory’s Governor to submit the request for Economic Injury Disaster Loan assistance.
  • Once a declaration is made, the information on the application process for Economic Injury Disaster Loan assistance will be made available to affected small businesses within the state.
  • 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. The interest rate for non-profits is 2.75%.
  • SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
  • SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal government’s coordinated response, and the SBA is strongly committed to providing the most effective and customer-focused response possible.

For additional information, please visit the SBA disaster assistance website at SBA.gov/Disaster.

For all SBA information please visit: https://www.sba.gov/coronavirus

First National Bank COVID-19 Relief Programs

For more information no how FNB can help, check out this link: https://www.fnb-online.com/landing/covid-relief-programs

Piedmont Triad Regional Workforce Development is here to help

The Piedmont Triad Regional Workforce Development Board offers customized business solutions offered at no cost. We understand that COVID-19 might cause changes within your business and our staff are available to provide information and connect you with needed the resources and support. Please contact the Business Services Coordinator in your county for more information: 

Phydesia Lewis

Rockingham & Caswell

Business Services Coordinator 

336.904.0300 Ext 4002

plewis@ptrc.org

 

Michelle Slaton

Forsyth & Davie

Business Services Coordinator

336.904.0300 Ext 4008

mslaton@ptrc.org

 

Preston Roseboro

Stokes, Surry & Yadkin

Business Services Coordinator

336.904.0300 Ext 4009

proseboro@ptrc.org

NC AHEC Webinars

https://www.ncahec.net/covid-19/webinars/ 

Golden LEAF Rapid Recovery Loan Program

For more information, visit the following link: https://www.goldenleaf.org/news/golden-leaf-deploys-15m-for-nc-covid-19-rapid-recovery-loan-program/ 

Being Deemed an Essential Business

Currently, the N.C. Office of Emergency Management is collecting information on businesses that wish to be deemed essential if we get to a state where that is a necessary designation.

Our State Legislators are suggesting to any business that is concerned about further closings, to send an email sooner rather than later. Businesses who wish to be considered essential should email beoc@ncdps.gov with the following information.

In the email, the business should provide the following:

1. Business name

2. Point of Contact including:

a) name

b) email

c) phone number

d) address

3. Nature of their business and why they are critical to continue operations

4. Business website

For more information visit: https://www.ncdps.gov/

Salem One Free CDC Workplace Posters

Salem One will be providing FREE CDC workplace posters that can be used in your business. Please call 336-299-0800 for more information or email triadsupport@salem-one.com. 

Piedmont Triad Regional Workforce Development News

In an effort to ensure you are aware of Governor Cooper's Executive Order 118 that impacts Unemployment Insurance for both employers and employees, we wanted to send the following pieces of information along:

1. Order removes the one-week waiting period for individuals to apply for benefits

2. Order removes the requirement that a person must look for another job during this time

3. Order also allows employees, who lost their jobs or who have had their hours reduced due to COVID-19 issues, to apply for unemployment benefits

4. Order instructs the Employment Security office to not allocate charges to employers’ accounts for individuals who are paid benefits for reasons related to COVID-19 

Those affected can apply for benefits online at https://des.nc.gov/apply-unemployment. You can also find FAQ at  https://des.nc.gov/need-help/covid-19-information with answers for both employers and employees.