Connecticut Small Business Development Center has compiled the latest relevant federal resources organized by category for small business owners to access the latest information.
We have also included our Resource Guide explaining each of the SBA financial relief programs and the appropriate use of funds for each.
Paycheck Protection Program
The Paycheck Protection Program has ended. If you received a PPP loan, you may be eligible for loan forgiveness. Click the red 'More Information' button below to access additional information we have compiled on determining and maximizing forgiveness.
Reach out for assistance if you would like assistance with your forgiveness application.
SBA EIDL Program
The loan is not forgivable, but has generous terms that may allow small businesses to meet the demands of operating expenses as the economy slowly recovers.
HOW MUCH:
For loans approved starting the week of April 6, 2021: 24-months of economic injury with a maximum loan amount of $500,000.
For loans approved prior to the week of April 6, 2021, see loan increases
No personal guarantees are required for loans under $25,000.
Please note this IS a loan, and as such your credit score will be evaluated, and the SBA will request financial documents.
Apply for an EIDL loan or request advising if you'd like assistance with the process.
SBA EIDL Targeted Advance
The new funding bill includes additional funds for this portion of the program, with some new guidelines.
Effective immediately, applicants can send a request for reevaluation of a Targeted EIDL Advance application that was declined to the following email address: TargetedAdvanceReevaluation@sba.gov.
Applicants should follow these instructions when requesting a reevaluation:
- Send an email to TargetedAdvanceReevaluation@sba.gov
- Use the subject line “Reevaluation Request for [insert your 10-digit application number]”
- In the body of the email, include identifying information for the application such as application number, business name, business address, business owner name(s) and phone number
- Important: Include an explanation and any documentation that addresses the reason for the decline, if available. SBA will contact applicants if additional documentation is required to complete the review.
The Targeted EIDL Advance focuses on low-income communities. In order to qualify for funds:
You must be a business with 300 employees or less in a designated low-income community who:
- Experienced a decline in gross receipts of 30%+
- Applied but did not get the full $10,000 during the first round (or)
- Applied but did not get any Advance funds due to funds running out
To help applicants determine if they are in a low-income community as defined in section 45D(e) of the Internal Revenue Code, a mapping tool is available at https://sbaeidl.policymap.com/app.
SBA has indicated they will be reaching out directly via email to qualifying applicants. The email will include instructions to determine eligibility and submit documentation.
All communications from SBA will be sent from an official government email with an @sba.gov ending.
Shuttered Venues Operators Grant
Please note the Shuttered Venue Operators (SVO) Grant portal will reopen on April 24.
The SVO Grant program was established by The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, signed into law on December 27, 2020. The program includes over $16 billion in grants to shuttered venues, to be administered by the Small Business Administration’s Office of Disaster Assistance.
Eligible applicants may qualify for SVO Grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.
Notably, with the passing of the American Rescue Plan, business who are eligible to apply for the SVO Grant may now also apply for PPP. It should be noted that your PPP loan may be subtracted from your SVO Grant.
On April 23 SBA released an updated Frequently Asked Questions Document and an Applicant User Guide.
USDA Resource Guide
USDA Rural Development has taken a number of actions to help rural residents, businesses, and communities affected by the COVID-19 outbreak.
A rural resource guide has been put together by the USDA, which includes various federal resources already listed in our Federal Resources page, as well as some specific to USDA funding, and other resources for farms.
SBA Traditional Loans
If you are looking for additional financing options, the SBA provides loan guarantees for businesses starting or growing through traditional and non-profit lenders.
The link will provide an overview of SBA-backed loans for working capital, asset purchases, and exporting.
Please note traditional SBA lending is available only to for-profit businesses.
Debt Relief
The SBA is offering debt relief to existing SBA loan borrowers who have been impacted by COVID-19.
Under the recently passed Economic Aid Relief Act, all SBA 7(a), 504, and Microloans are eligible for the SBA to pay six months of principal, interest, and any associated fees approved up to September 27, 2020, even if not fully disbursed.
There is no application process. Learn more about this program and the assistance it provides for small businesses on the SBA's website.
Employee Retention Credit FAQ
This resource provides answers to commonly asked questions for employers and employees related to the Employee Retention Credits.
Please visit this page from the IRS for questions about eligibility and how to access the credits.
Please note as other federal agencies, the IRS needs time to update all their articles to reflect the new bill. The current links will most likely show an expiration date for these benefits that has now been extended.
Paid Leave Tax Credits for Time Off Related to COVID-19 Vaccinations
The American Rescue Plan Act of 2021 (ARP) allows small and midsize employers, and certain governmental employers, to claim refundable tax credits that reimburse them for the cost of providing paid sick and family leave to their employees due to COVID-19, including leave taken by employees to receive of recover from COVID-19 vaccinations from April 1, 2021, through September 30, 2021.
Unemployment During COVID-19
The U.S. Department of Labor informs American workers and employers of how to benefit from the protections and relief offered by the Emergency Paid Sick Leave Act and Emergency Family and Medical Leave Expansion Act, both part of the Families First Coronavirus Response Act (FFCRA).
The department’s Wage and Hour Division (WHD) posted a temporary rule issuing regulations pursuant to this new law, effective April 1, 2020.
Please view our "Notices & Posters" section for required posters.
Department of Labor Resources
This specific resource provides information for employees & employers related to COVID-19. It includes workplace safety standards, common issues related to hours & wages, and added flexibility on unemployment insurance among others.
Some of the information is also available in Spanish.
If you have additional questions related to Family Leave under COVID-19, this page may also be helpful. Please note all resources are being updated to reflect the new law.
EEOC & Coronavirus
This technical assistance document provides information about Titles I and V of the Americans with Disabilities Act (ADA) and Section 501 of the Rehabilitation Act and pandemic planning in the workplace.
It identifies established ADA principles that are relevant to questions frequently asked about workplace pandemic planning such as:
- Does the ADA allow employers to require employees to stay home if they have symptoms of the pandemic influenza virus?
- When employees return to work, does the ADA allow employers to require doctors’ notes certifying their fitness for duty?
CDC Guidelines for Business
Given the specific needs of a variety of business operations, the CDC provides guidance documents for employers, business owners and community leaders.
As of May 13, 2021, the CDC has provided this Interim Public Health Recommendations for Fully Vaccinated People in non-healthcare settings and this updated Healthcare Infection Prevention and Control Recommendations in Response to COVID-19 Vaccination.
CDC Cleaning & Disinfecting
This page provides simple and clear steps to assist employers with guidance and considerations as businesses reopen. It includes information on cleaning solutions, disinfecting soft surfaces, and how to handle cleaning procedures when someone is sick.
And don't forget to reach out to your local health department for questions specific to your business.
Updated OSHA Guidelines
This requirement revises earlier advice from the Occupational Safety and Health Administration and remains subject to further change as the pandemic evolves.
The new guidance states that if an employer finds that an employee did, in fact, contract the illness while at work or while performing work-related duties, OSHA requires that employer to report the incident on an OSHA Form 300.