Small Business Administration (SBA) loan programs
The Paycheck Protection Program. PPP is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating; consult with your local lender as to whether it is participating in the program. The PPP resumed accepting applications July 6, 2020; the new deadline to apply is August 8, 2020.
Economic Injury Disaster Loan (EIDL) Emergency Advance. Small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. This loan advance will not have to be repaid. The SBA resumed accepting new EIDL applications on June 15 to all qualified small businesses, including U.S. agricultural businesses.
Local SBA Assistance. The SBA works with a number of local partners to counsel, mentor, and train small businesses, and can offer guidance during the COVID-19 outbreak. Search for local SBA assistance near you.
The federal government has updated guidelines for the joint federal-state Unemployment Insurance program in response to COVID-19, but each state continues to set its own policies, so your state’s Unemployment Insurance website is the best place to get answers to your questions.
Wages and leave policies
The U.S. Department of Labor’s Wage and Hour Division provides Guidance for COVID-19 or Other Public Health Emergencies regarding wages and hours worked under the Fair Labor Standards Act and job-protected leave under the Family and Medical Leave Act.
The USDOL Wage and Hour Division also published this Fact Sheet for Employers in July 2020 to help businesses as they re-open and re-hire employees.
Workplace and employee health and safety
The Centers for Disease Control and Prevention (CDC) offers Guidance for Businesses and Employers to help plan, prepare, and respond to the COVID-19 outbreak.
The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) offers Guidance on Preparing Workplaces for COVID-19 with information on safe work practices and more.