COVID-19 Resources

PPP reopens January 11, 2021

The U.S. Small Business Administration, in consultation with the Treasury Department, announced today that the Paycheck Protection Program will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13.  The PPP will open to all participating lenders shortly thereafter. Updated PPP guidance outlining Program changes to enhance its effectiveness and accessibility was released on January 6 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act. Details:

https://www.sba.gov/about-sba/sba-newsroom/press-releases-media-advisories/ppp-reopens-jan-11

Vermont unveiled new federally funded economic relief programs on January 19, 2021
Details on the programs and criteria for applying are available [PDF]
https://webpubcontent.gray.tv/wcax/docs/01-19-21-Lauzon.pdf

What Small Employers Need to Know about PPP Round 2 [ADP] Clear summary of the eligibility criteria and requirements.
https://sbshrs.adpinfo.com/ppp-reopens-what-small-employers-need-to-know

Expanded Economic Recovery Grant Program 10/20/20

ACCD and the Department of Taxes are administering Expanded Economic Recovery Grants.
The Department of Taxes application is open now through the myVTax portal until 11:59pm on October 30, 2020.
ACCD will be opening its application on Monday, October 26, 2020 at 8:00am, and it will be open until Friday, November 9, 2020 at 11:59pm.

Visit the ACCD COVID-19 Recovery Resource Center for full details, eligibility requirements, how to apply,
and FAQs for businesses. If you missed the webinar this week about the program, a recording has been posted
to the website as well. Your business may be eligible for a second grant even if awarded an earlier grant.

New Technical Assistance Program Now Available 9/18/20

Free technical assistance is now available through the Small Business Recovery Technical Assistance Program.
The program is now live, and businesses can begin accessing resources immediately but note that all work and invoicing must be completed by December 4, 2020.

CVOEO Launches EMBRACE Program to Provide Grants to Micro Businesses 9/16/20

The Champlain Valley Office of Economic Opportunity (CVOEO) have launched
the EMBRACE grant program for micro businesses. Grants are available to
businesses with 0 – 5 employees in which the applicant (owner) makes 80% of
state median income or less. Applicants can request between $2,500 – $5,000
depending on their need. See CVOEO for details.

REPORT on CARES Act Coronavirus Relief Fund grant assistance for Vermont businesses [PDF]
COVID-19 Economic Recovery Grant Program Report – 2020-08-17

Note the original economic relief funding is no longer available. For details see:
https://accd.vermont.gov/covid-19/economic-recovery-grants

• CARES Act Sole Proprietor Stabilization Grant Program open July 20 through July 31, VermontBiz
  https://vermontbiz.com/news/2020/july/17/cares-act-sole-proprietor-stabilization-grant-program-set-launch-monday-july-20
  https://www.vermont-cdbg-cv.com/

• H.966, includes a set aside for women and minority-owned small businesses with 0-5 employees who experienced a 50% drop in revenue. Passed by the House and Senate. Signed by the Governor July 2.
  H-0966 As Passed by Both House and Senate Unofficial
• How to Prepare and Apply for Women and Minority-Owned Small Business Grants for up to $50,000
  FAQsPreppingYourDocumentsMWOSBGrantsACCD_7-5-20
• S.350 The bill was signed on June 19th and the grant program created to help businesses will be live July 6. Designed to help those in the restaurant, hospitality, and close contact industries with 1 or more employees, who were required to close and have reopened, and experienced a 75% drop in revenue.
  ACT115 As Enacted_S.350

Governor Scott announced his proposal for a $400 million Vermont Economic Relief and Recovery package 5/20/20
Agency of Commerce & Community Development (ACCD)
https://accd.vermont.gov/covid-19/vermont-economic-recovery-and-relief-package

Health & Disease Updates
VT Department of Health
https://www.healthvermont.gov/response/infectious-disease/2019-novel-coronavirus

Covid-19 Resource Recovery Center for Business, Individuals & Communities
VT Agency of Commerce & Community Development
https://accd.vermont.gov/covid-19

SBA reopens EIDL portal and PPP funds still available, 6/16/20
Small Business Administration
https://vermontbiz.com/news/2020/june/16/sba-eidl-portal-reopens-virtual-town-hall-tuesday-6-pm

Small Business Guide to the CARES Act (PDF)
National Association of Women Business Owners (NAWBO)
The Small Business Owner’s Guide to the CARES Act

Guidance for Vermont Businesses
VT Agency of Commerce & Community Development
[Look at left-hand navigation]
https://accd.vermont.gov/covid-19/business

For Employers: VT Dept of Labor
VT Department of Labor
https://labor.vermont.gov/covid19

For Small Businesses: SBDC
VT Small Business Development Center
https://www.vtsbdc.org/coronavirus/

CDC Guidance for Businesses and Employers
US Centers for Disease Control
https://www.cdc.gov/coronavirus/2019-ncov/community/guidance-business-response.html

Small Business Loans
US Small Business Administration – Vermont District Office
https://www.sba.gov/offices/district/vt/montpelier

Payroll Protection Plan (PPP) loan Q&A (PDF)
US Small Business Administration
SBA IFR 2_1_PPP

Payroll Protection Plan (PPP) loan application (PDF)
US Small Business Administration (Note that your lender may use a variation.)
PPP Borrower Application Form_SBA

PPP Flexibility Act Passes U.S. Congress, Signed by President
LCRCC as of 6/5/20
https://www.vermont.org/chamber/legislative-updates/legislative-update-week-21/#ppp

Initial unemployment claim (Vermont)
VT Unemployment
https://vermont.force.com/DOLClaim/s/

Change to alphabetized structure for unemployment claims and calls, as of 4/12/20
VT Unemployment
https://labor.vermont.gov/alphabetized-structure-information

INFORMATION FOR SELF-EMPLOYED AND INDEPENDENT CONTRACTORS, as of 4/17/20
PANDEMIC UNEMPLOYMENT ASSISTANCE HOTLINE ESTABLISHED FOR UPDATES FOR SELF-EMPLOYED
PUA Line:  (877) 660-7782
VT Department of Labor
https://labor.vermont.gov/CARESact_Vermont/SelfEmployed

Updated Process and Application for PUA, PANDEMIC UNEMPLOYMENT ASSISTANCE, for Self-Employed and Contractors, as of 4/24/20
https://labor.vermont.gov/PUA

“Safe harbor” announcement on PPP loans under $2 million  5/14/20
Small Business Administration (SBA), Journal of Accountancy
https://www.journalofaccountancy.com/news/2020/may/sba-safe-harbor-for-ppp-loans-under-2-million.html

Guide to help small businesses and self-employed individuals prepare to file for a PPP loan
U.S. Chamber of Commerce [PDF]

Independent Contractor’s Guide to Cares Act Relief: PPP, EIDL, Unemployment
U.S. Chamber of Commerce [PDF]

SBA and Treasury release PPP Loan Forgiveness Application [PDF] SBA form and instructions released 5/15/20
US Small Business Administration (Note that your lender may use a variation.)
3245-0407 SBA Form 3508 PPP Forgiveness Application

PPP EZ Loan Forgiveness Application, 6/16/20 [PDF]
Sole proprietors and small business owners who did not reduce payroll by more than 25%
are eligible to use the shorter EZ Form for forgiveness application.

Guidance for Businesses and Employers
VT Agency of Commerce & Community Development
https://accd.vermont.gov/about-us/disaster-planning/covid-19-guidance-vermont-businesses

Family First coronavirus relief bill: small employers
U.S. Treasury, IRS and Labor
https://www.irs.gov/newsroom/treasury-irs-and-labor-announce-plan-to-implement-coronavirus-related-paid-leave-for-workers-and-tax-credits-for-small-and-midsize-businesses-to-swiftly-recover-the-cost-of-providing-coronavirus

Family First coronavirus relief bill: small employers
MarketWatch (summary in everyday language)
https://www.marketwatch.com/story/what-the-family-first-coronavirus-relief-bill-means-for-small-business-owners-and-self-employed-people-2020-03-21

VBSR Covid-19 Webinar Series
Vermont Businesses for Social Responsibility
https://vbsr.org/vbsr-resources/planning-preparing-for-covid-19/