Below is a list of resources for local businesses looking for guidance on how to navigate impacts related to the COVID-19 pandemic. Please check this page often. It will be updated as more information and resources become available.
Revive Plus: On November 18, Gov. Kay Ivey announced a $200 million grant program, Revive Plus. The grant program provides support to small businesses, non-profits and faith-based organizations that have been impacted by the COVID-19 pandemic. These organizations with 50 or fewer employees could be awarded grants of up to $20,000. For complete details on Revive Plus, click here. Applications will begin being accepted on Monday, November 23, at noon.
Auburn Chamber of Commerce is publishing various funding relief.
Periodically check their COVID-19 Business Updates available funding options, including industry-specific funds for beauty professionals, photographers, freelancers and more.
SAFER AT HOME ORDER: Wondering how the April 28 statewide Safer at Home order applies to your business? View the Alabama Department of Public Health's FAQ for Businesses.
UPDATE: Agricultural companies may now apply for EIDL. However, non-ag EIDL applications are on hold as of April 16. Businesses are encouraged to gather the necessary documentation so that they can apply as soon as the programs are back online.
Small businesses are encouraged to review information from Alabama SBDC Network including upcoming live webinars, slide presentation & on-demand webinar recording to help answer questions on how they can prepare and apply for an SBA Economic Injury Disaster Loan (EIDL) or the Paycheck Protection Program (PPP). They are frequently offering webinars.
Governor Kay Ivey is encouraging Alabama small businesses to act quickly and to be prepared. Time is of the essence regarding relief funding. For more from Governor Ivey, click here.
City of Auburn Working Capital Loan Interest Subsidy Program
The City of Auburn Working Capital Loan Interest Subsidy Program is designed to provide much needed assistance to Auburn’s small business community during the COVID-19 world health crisis by providing an interest subsidy to applicants who have been approved for a loan with a participating lending institution. For more details about eligibility and program components, visit auburnalabama.org/coronavirus/business-resources/interest-subsidy.
City of Auburn Tax Penalty Waivers
Effective immediately, the City of Auburn is extending relief to businesses unable to pay their February, March, and April 2020 sales, use, lodging, rental and leasing tax liabilities. Find more details at auburnalabama.org/coronavirus/business-resources/tax-penalties.
Main Street Lending Program
Federal Reserve Board expands its Main Street Lending Program to allow more small and medium-sized businesses to be able to receive support
Spire Energy Small Business Assistance
Spire is offering assistance to its small business customers. The company is providing a $200 pledge on eligible commercial customers impacted by COVID-19. For more information about requirements and qualifications for this program, as well as the application link, please visit at SpireEnergy.com/Relief.
Restaurant Employee Relief Fund
Grants to restaurant industry employees who have been impacted financially by COVID-19, whether it be through decrease in wages or loss of employment.
- Applications will open Thursday, April 2.
- Each approved grant is $500, one per person only.
- Eligibility requirements and FAQs
Verizon Small Business Recovery Fund
With a $2.5 million investment from Verizon, Local Intiatives Support Corp (LISC) is offering grants to help small businesses fill urgent financial gaps until they can resume normal operations or until other more permanent financing becomes available. The first period for applications has closed. Register HERE for Round 2 beginning mid-April. The maximum grant is up to $10,000.
Coronavirus Aid, Relief, and Economic Security (CARES) Act: Paycheck Protection Program (PPP)
President Trump has signed into law the CARES Act, including the Paycheck Protection Program (PPP), providing relief for small business during this economic downturn. Read this overview. Applicants are still eligible to apply for the Economic Injury Disaster Loan (EIDL), as long as the loan covers different expenses.
For Loan Forgiveness, you must apply.
There is a revised, borrow-friendly PPP loan forgiveness application implementing the PPP Flexibility Act, which was signed into law on June 5. In addition to the revisions of the act, SBA has released a new EZ version of the borrowers application. This is available to borrowers that:
- Are self-employed and have no employees.
- Did not reduce the salaries or wages of their employees by more than 25% and did not reduce the number or hours of their employees.
- Experienced reductions in business activity as a result of health directives related to COVID-19 and did not reduce the salaries or wages of their employees by more than 25%.
For more information on the EZ Forgiveness Application and for a copy of the application, click here.
Refundable Employee Retention Credit
If employer applies for this relief, cannot apply for PPP or any other SBA 7(a) loan.
IRS Coronavirus Tax Relief
The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the Coronavirus.
Alabama Department of Revenue Sales Tax Relief for Small Retail Businesses
An explanation of COVID-19 related relief for taxpayers.
U.S. Small Business Administration (SBA) Economic Injury Disaster Loan program (EIDL)
The U.S. Small Business Administration has announced relaxed criteria for designated states' and territories' low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Applicants are still eligible to apply for the Paycheck Protection Program (PPP), as long as the loan covers different expenses. Apply here.
Agricultural companies can now apply for EIDL. However, non-ag EIDL applications are on hold as of April 16. Businesses are encouraged to gather the necessary documentation so that they can apply as soon as the program is back online.
- Loans up to $2,000,000
- 3.75% fixed interest rate on loans to for-profit companies
- 2.75% fixed interest rate on loans to non-profits
- Up to 30-year term and amortization (determined on case-by-case basis)
- Financing to be used for fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
U.S. SBA COVID-19 Small Business Guidance & Loan Resources
The SBA provides explanations and links to their Disaster Loan Program (above), guidance for businesses and employers, SBA products and resources, government contracting and local assistance.
Business Response Tools
Alabama Small Business Development Center Small Business Guidance
Information from AL Department of Revenue on sales tax relief for small retail businesses and from AL Department of Labor on support for workers impacted by COVID-19.
Alabama Small Business Development Center Disaster Assistance Business Continuity
Offers small businesses guidance on planning for and recovering from disasters
Business Council of Alabama (BCA) Coronavirus Business Resources
Information from the BCA regarding the ever-changing business environment as it relates to COVID-19
IRS Disaster Assistance and Emergency Relief for Individuals and Business
IRS guidance for disaster assistance
Occupational Safety and Health Administration COVID-19 Resources
Information for workers and employers about the evolving COVID-19 pandemic
SCORE Small Business Disaster Preparedness & Recovery Resources
Guidance for small businesses in disaster planning and recovery
U.S. Chamber of Commerce Business Guidelines
COVID-19 Business Preparedness Checklist and tips on Combating the Coronavirus
U.S. Chamber of Commerce Workplace Tips and Resources
General workplace health and safety from the Center for Disease Control and Prevention (CDC)
U.S. Chamber of Commerce Foundation Resilience in a Box Resources
Resilience in a Box is based on best practices and designed to educate business leaders on disaster preparedness and business resilience
U.S. Department of the Treasury
Small business resources, COVID-19 scams, latest news.
Additional Resources and Funding Opportunities
American Medical Loan
Small business loans for medical practices
Food Truck Lender
Loan opportunities for small business, food trucks, and mobile vendor businesses
Lee-Russell Council of Governments
For information on Microloans and Revolving Loan Funds, contact email@example.com
Small business loans for veterans
Small business loans for veterans
U.S. Department of Homeland Security - Acquisition Planning Forecast System
Program to encourage small businesses to submit to be a federal DHS contractor or sub-contractor for larger programs
U.S. General Services Administration
Federal database of economic assistance listings, wage determinations, and contract opportunities
U.S. Federal Contractor Registration
Guidance on small businesses certification to do business with the federal government
Women's Business Assistance Program
Grants, funding options for small businesses owned by women