Small Business Development Center Penn State

COVID-19 Resources

Emergency Capital Programs & Funding Opportunities  

• Small Business Administration Emergency Capital Programs
  • SBA Disaster Assistance Customer Service Center: can be reached at 1-800-659-2955 (TTY: 1-800-877-8339) and disastercustomerservice@sba.gov for questions and guidance on the loan application process, including business eligibility.
    
    
  • Disaster Assistance Loans (low-interest, long-term loans up to $2 million): the first payment is deferred for 12 months. The application has been simplified and can be completed 100% online through the SBA web portal. 
    • US Chamber of Commerce’s Guide to the SBA’s Economic Injury Disaster Loans
      
      
  • SBA Express Bridge Loan: allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can be a term loan or used to bridge the gap while applying for SBA Economic Injury Disaster Loan funding.
    
    
  • SBA Debt Relief: the SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic. 
    
    
  • PPP Loan Forgiveness
    • Coronavirus Response and Relief Supplemental Appropriations Act of 2021 (CRRSAA)
      What we know: Small Business owners will have an opportunity to apply for a second round of PPP if they meet new eligibility criteria as outlined in the “Detailed Summary of Legislation” document below. The bill includes many changes to former PPP guidelines, including set-asides for some industry sectors, business size groups and, grants to certain types of entertainment/venue operations, and set-asides for organizations that conduct micro-lending to under-served segments of the population. The numerous changes will take the US Small Business Administration (SBA) several weeks to implement (the small business provisions alone are more than 1,000 pages in the more than 5,000 page bill). We will continue to keep you updated as details are finalized.
      • U.S. Small Business Administration (SBA) PPP Resources:
        • Updated First Draw Forms and Procedures
          • Top-line Overview of PPP First Draw Loans
          • Form 2483 – First Draw Borrower Application
          • Form 2484 – First Draw Lender Guaranty Application
          • Procedural Notice – First Draw Paycheck Protection Program Loan Increases After Enactment of the Economic Aid Act
          • How to Calculate Maximum Loan Amounts for First Draw PPP Loans and What Documentation to Provide – By Business Type 
        • Second Draw Forms and Procedures
          • Top-line Overview of PPP Second Draw Loans
          • Form 2483-SD – Second Draw Borrower Application
          • Form 2484-SD – Second Draw Lender Guaranty Application
          • Second Draw Paycheck Protection Program (PPP) Loans:  How to Calculate Revenue Reduction and Maximum Loan Amounts Including What Documentation to Provide (Released 1/19/2021)
          • Second-Draw-PPP-Loans–How-Calculate-Revenue-Reduction-Maximum-Loan-Amounts-Including-Documentation-Provide1192021.pdf (treasury.gov)
        • Additional Guidance
          • Procedural Notice 5000-20074– Modifications to SBA Forms 3506, 3507, and 750 CA (for purposes of PPP only)
          • Procedural Notice 5000-20075– Repeal of EIDL Advance Deduction Requirement for SBA Loan Forgiveness Remittances to PPP Lenders
          • Procedural Notice – PPP Borrower Resubmissions of Loan Forgiveness Applications Using Form 3508S, Lender Notice Responsibilities to PPP Borrowers, and Offset of Remittances to Lender for Lender Debts 
          • Procedural Notice – Paycheck Protection Program Excess Loan Amount Errors 
          • Interim Final Rule on Loan Forgiveness Requirements and Loan Review Procedures as Amended by Economic Aid Act (Released 1/19/2021)
          • Borrower’s Disclosure of Certain Controlling Interests (Released 1/19/2021)
          • PPP Guidance from SBA Administrator Carranza on Accessing Capital for Minority, Underserved, Veteran, and Women-owned Business Concerns
          • For more information and updates, visit SBA.gov/PPP or Treasury.gov/CARES 
        • PPP Forgiveness
          • Forgiveness Frequently Asked Questions  
          • PPP Loan Forgiveness Application Form 3508 (Revised 1/19/21)
          • PPP Loan Forgiveness Application Form 3508EZ (Revised 1/19/21)
          • PPP Loan Forgiveness Application Form 3508S (Revised 1/19/21)
      • Additional PPP Resources
        • US Chamber Guide to the New Pandemic Relief Package
        • COVID-19 Emergency Relief Package – Detailed Summary of Legislation
          • Small Business Aid Provisions
          • US Chamber Guide to Small Business Emergency Loans
          • Interim Final Rule on Second Draw PPP Loans
          • Interim Final Rule on Paycheck Protection Program as Amended by Economic Aid Act
        • National Restaurant Association Summary of the Bill’s Impacts on the Restaurant Industry
• SEDA-COG EDA COVID-19 Loan
  The new SEDA-COG EDA COVID-19 Loan Fund is for businesses negatively impacted by COVID-19. For-profit businesses can apply for loans of at least $10,000 starting now until funds are exhausted. No payments are due in the first six months. The total amount of the fund is $400,000. The interest rate is 3.25%. Businesses must be in SEDA-COG’s region of Centre, Clinton, Columbia, Juniata, Lycoming, Mifflin, Montour, Northumberland, Perry, Snyder, and Union counties.
  
  
• “At Your Side” Small Business Grant Program (Closes January 28)
  The program will support brick-and-mortar small businesses in designated Main Street districts as they work to adapt to COVID-19 and prepare for the next phases of reopening across the country, while also helping to revitalize and strengthen older and historic commercial corridors. Grants of $5,000 to $10,000 will be awarded on a competitive basis.
  
  
• Mainstreet Lending Program
  The Federal Reserve developed the Main Street Lending Program to help credit flow to small and medium-sized businesses that were in sound financial condition before the pandemic. The program is for businesses with 15,000 or fewer employees who had 2019 revenues of $5 billion or less, and requires minimum loans of $250,000. Loans through this program will go through eligible lenders.
  
  
• GoFundMe Small Business Relief Fund
  As part of the Small Business Relief Initiative, GoFundMe, Intuit QuickBooks, Yelp, GoDaddy, and Bill.com have each donated to the Small Business Relief Fund. GoFundMe.org, the charitable and advocacy arm of GoFundMe, started the Small Business Relief Fund to benefit small businesses. Supporters can donate to the Small Business Relief Fund, which will issue $500 matching grants to qualifying businesses that raise at least $500 on GoFundMe. 
  
  
• PA 30 Day Fund Grants
  PA 30 Day Fund, a Pennsylvania non-profit, is providing forgivable loans for Pennsylvania-based small businesses. The forgivable loan is intended to provide immediate financial assistance (within maximum three days) to meet payroll, preserve healthcare coverage for employees and save jobs while they await recently approved federal funding.
  
  
• Surdna
  Several grants are available to existing and established businesses owned by people of color. 
  
  
• Grantstation Grant Locator
  This database allows you to find the latest COVID-19 grant funding opportunities for nonprofits, small businesses, journalists, and artists, updated each business day and listed by deadline date.
  
  
• CovidCAP.com
  CASE and CASE i3 at Duke University’s Fuqua School of Business launched a searchable website to help any entrepreneur in the world, for-profit or nonprofit, struggling due to the economic impacts of COVID-19, to locate cash relief resources in their community.
  
  

Unemployment Compensation Information

• PA Department of Labor and Industry Information for PA Employees Impacted by COVID-19
  If you are employed in Pennsylvania and are unable to work because of Coronavirus disease (COVID-19), you may be eligible for Unemployment or Workers’ Compensation benefits. The Department of Labor & Industry will continue to provide important employment benefit updates as the situation evolves.
  • PA Department of Labor and Industry CARES Act Overview
  • Pandemic Unemployment Assistance (PUA) FAQs
  • Pandemic Unemployment Assistance (PUA) Application Portal
  • PA UC Benefits and COVID-19 FAQs
  • Employer UC and COVID-19 FAQs
• US Chamber of Commerce Backgrounder on Unemployment Insurance Under the CARES Act
  The CARES Act significantly expanded access to the unemployment insurance (UI) system for American workers who suffer job losses or reduced hours through no fault of their own.
  
  
• US Chamber of Commerce’s Guide to Coronavirus Paid Leave Programs