Help for Small Businesses Hit by COVID-19 Directives

Small business are suffering at the hands of emergency directives levied by governors across the country. Both “essential” and “non-essential” business owners have been hit by an economy devoid of consumers as Americans, Nevadans, and Fallonites are ordered to stay at home to slow the spread of COVID-19.

Rachel Dahl
04/03/2020 06:00 AM (update 04/11/2023 01:53 AM)

Help for Small Businesses Hit by COVID-19 Directives — *Acting Administrator for the SBA, Michael Vallante, Karla Kent, and Nevada Director, Joe Amato at the SBA awards ceremony in Las Vegas last May*

There is help however, for those who qualify — and government agency officials are urging people to not “self-deny” but apply no matter what and let the emergency approval process exhaust all possibilities.

The Small Business Administration Disaster Loan program has been in place for years and usually helps folks living through natural disaster — hurricanes in the south, fires in the west, and now the effects of this virus. Additionally, the CARE Act, passed in Congress last week, provides for a Paycheck Protection Program through the SBA to help businesses keep their workforce employed.

The Disaster Loan application can be found online at https://www.sba.gov/funding-programs/disaster-assistance and is available directly through the SBA.

The Paycheck Protection Program information is at https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp and applicants are encouraged to check with their current business bank to see if they are an SBA 7 (a) approved lender. The SBA will forgive the PPP loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. The Paycheck Protection Program will be available through June 30, 2020.

The local SBA office staff is working to help Nevada business owners work through this difficult time and urges you to contact them — both Elizabeth Hill, 775-230-4274, [email protected] and Nevada District Director Joe Amato [email protected], are available to help.

Additionally, the Small Business Development Center has a “Resiliency Guide” for small business owners that is a great resource and can be found here: https://www.churchillcounty.org/DocumentCenter/View/14961/Nevada-SBDC-COVID-19-Resource-Links and offers several useful tips.

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Upload date: 04/03/2020 06:00 AM

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Comments

Mark Shy 04/08/2020 09:13 AM

Good luck if you're sole proprietor