SBA Relief Options

Latest COVID Relief Bill Passed:  American Rescue Plan Act

On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 into law providing additional relief for the nation’s small businesses and hard-hit industries.

This includes additional support for programs the SBA is currently administering and adds new efforts, including:

• $7.25 billion additional for the Paycheck Protection Program, including to expand eligibility to additional nonprofits and digital news services
• Additional funds are allocated for the Shuttered Venue Operators Grant (SVOG) program, and now allows businesses to apply for both a PPP loan after Dec. 27, 2020, and the SVOG
• $15 billion additional for Targeted Economic Injury Disaster Loan Advance (EIDL) payments, including NEW $5 billion for Supplemental Targeted EIDL Advance payments for those hardest hit
• NEW: $28.6 billion for the Restaurant Revitalization Fund for industry-focused grants
• NEW: $100 million to establish a Community Navigator pilot program; grants will go to eligible organizations supporting efforts to improve access to COVID–19 pandemic assistance programs and resources.

Information about the SBA’s current relief efforts can be found at www.sba.gov/coronavirusrelief. More details about these program updates and new efforts the SBA will administer will be posted online in the coming weeks.

Paycheck Protection Program

While the SBA recently extended this deadline to May 31, 2021, as of May 24th, Alaskan lenders are reporting that funds for 1st and 2nd round PPP loans are currently exhausted.

The Paycheck Protection Program (PPP) provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. Borrowers may be eligible for PPP loan forgiveness. President Biden announced program changes to make access to PPP loans more equitable.

1. Find a lender:

• Get matched with a lender
• Search for lenders in your area

2. Identify a PPP loan loan type:

• First Draw PPP Loans: If you have not received a PPP loan before, First Draw PPP Loans are available to you.
• Second Draw PPP Loans: If you have previously received a PPP loan, certain businesses are eligible for a Second Draw PPP Loan.

Shuttered Venue Operators Grant

Shuttered Venue Operators Grant (SVOG) program includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance. Eligible applicants may qualify for 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.

Eligible entities include: Live venue operators or promoters, Theatrical producers, Live performing arts organization operators, Relevant museum operators, zoos and aquariums who meet specific criteria, Motion picture theater operators, Talent representatives.

The U.S. Small Business Administration has completed rigorous testing and the Shuttered Venue Operators Grant application portal will reopen on Saturday, April 24. Interested applicants should register for an account in advance through the portal.  

Targeted Economic Injury Disaster Loan Advance

Targeted EIDL Advance funds of up to $10,000 will be available to applicants located in low-income communities who previously received an EIDL Advance for less than $10,000, or those who applied but received no funds due to lack of available program funding. Click here for more info.

Applicants do not need to take any action at this time.
SBA will reach out to those who qualify.

Economic Injury Disaster Loan

SBA will first reach out to EIDL applications that already received a partial EIDL Advance (between $1,000 – $9,000). Applicants will be contacted directly by SBA via email in the coming weeks with instructions to determine eligibility and submit documentation. All communications from SBA will be sent from an official government email with an @sba.gov ending. Please do not send sensitive information via email to any address that does not end in @sba.gov. Applications are also still being accepted for the low-interest economic injury disaster loan (EIDL), which is designed to provide economic relief to businesses currently experiencing a temporary loss of revenue. More info.

• EIDL proceeds can be used to cover a wide array of working capital and normal operating expenses, such as the continuation of health care benefits, rent, utilities, and fixed debt payments. View Frequently Asked Questions.
• SBA resumed accepting new Economic Injury Disaster Loan (EIDL) applications on June 15 to all qualified small businesses, including U.S. agricultural businesses.

Restaurant Revitalization Fund Grant

The Restaurant Revitalization Fund Grant will soon be available to eligible entities in the industry such as:  restaurants, food trucks, caterers, pubs, bars, tasting rooms, and many others. In order to receive a grant business owners must obtain a Data Universal Numbering System (DUNS) number AND register with the System for Award Management (SAM). Note that these processes could take up to a week to complete, so we recommend all eligible businesses take this step now so you are prepared to apply. Visit this link for information on obtaining a DUNS number. More information on the Restaurant Revitalization program can be found at https://restaurantsact.com/rrf/

Resources for Child Care Providers

Early care, education providers and other child care centers can apply for the Paycheck Protection Program (PPP) or Economic Injury Disaster Loans (EIDL), much of which is forgivable. Child care providers are eligible for first and second loan draws of the PPP as well as the Employee Retention Tax Credit (ERTC). Here is a link to a helpful website full of resources, information, and recorded webinars specifically for Childcare Providers.

AK CARES Act Grant

September 15, 2020 – AK CARES Small Business Grant Portal closed 

The following warning was issued on the AK CARES portal and AK CARES FAQ/Checklist page.

“The AK CARES program has been oversubscribed, meaning more funds have been requested than are available. However, we will continue to accept applications until 5:00pm on Tuesday, September 15th. If remaining AK CARES grant funds are available after all applications received between June 1st and September 15th have been processed, we will reopen the online application portal with advance notice to the public. If you choose to submit an application on or after September 2nd, please be aware that there is a high likelihood your application may not be funded. If you are looking for other funding programs that may be available to you, please visit COVID-19 Recovery Resource Portal for Business website.”

You may contact Cordova Chamber of Commerce Business Support Specialist, Lori Davis, via email or phone (484-883-6756) for assistance in getting your applications in quickly. She will do her best in assisting as many businesses as she can to get their applications in.

August 20, 2020 – Businesses do not have to return PPP or EIDL Funds and secondary income businesses may apply

Currently, applicants for AK CARES Grant fundi/ng have been restricted from applying if they received more than $5,000 in other federal assistance or if the business is a source of secondary income. The new changes announced 8/20/20 lift the $5,000 restriction, as well as those on secondary income businesses. Other restrictions, such as requiring that businesses must be Alaska based or that businesses cannot have more than 50 employees, remain in place at this time, but may be amended in the future based on authority granted in the RPL. Under law, the proposed changes can happen in 45 days at the latest. However, the Legislative Budget & Audit Committee can meet before then, and take action on the proposed changes. If the committee does take action, the expanded relief for businesses can take effect immediately. For more info, click here.

Please keep in mind, if you decide to apply for the AK CARES Act grant without returning PPP and/or EIDL funds, whether its above or under $5,000, you cannot double-dip your expenses. For example, if the PPP was used to pay for your payroll from a certain timeframe, then you cannot include those same expenses in your AK CARES application. Audits are expected.

As of August 6, 2020 the AK CARES grant program has expanded to include:

• – Alaska’s commercial fishermen,
• – 501(c)(6) nonprofit organizations, and
• – Small businesses that received $5,000 or less in the Paycheck Protection Program (PPP) or Economic Injury Disaster Loan (EIDL) funds or have returned PPP or EIDL funds in excess of $5,000.

The new online application portal is currently available. The new portal will allow program operators to access the applications from one central location, which will facilitate faster processing. The new application link is available at https://www.akcaresonline.org.  For information about eligible expenses and what would qualify as an eligible expense along with updated FAQs and Checklist, visit commerce.alaska.gov/web/ded/AKCARESGrant.aspx.

If you have questions about the application process, please reach out through email (support@cordovachamber.com) or phone (cell: 484-883-6756) and we would be happy to assist you with any of your questions or concerns about the process.

Coronavirus Non-Profit Relief Fund

The State of Alaska set aside $35 million from the Coronavirus Aid, Relief, and Economic Security (CARES) Act funding to specifically support nonprofits in Alaska adversely affected by the COVID-19 pandemic. The State of Alaska Department of Health and Social Services (DHSS) has partnered with The Alaska Community Foundation to establish the Coronavirus Nonprofit Relief Fund (CNRF) with the set-aside funding. Applications are now closed for this program.

If you have questions about the status of your application, you can contact the Alaska Community Foundation. For other help, you may contact the Foraker Group at info@forakergroup.org, or call 907-743-1200. They have services that can help you including assistance with grant writing.

Businesses Enrolled in Cordova Cash Can Attract More Customers by:

· Planning promotions to attract residents to shop at your store and make a plan for how they will be able to shop (online or in-person).

· Making sure you have inventory in stock. The cards will be in resident hands in time for holiday shopping.

· Making sure your location, hours of operation, and contact information is up-to-date on websites, social media, your storefront, and with the Cordova Chamber of Commerce (email support@cordovachamber.com).

Contact us if you’d like to pick up printed posters or stickers from our office in Cordova!

More COVID-19 Resources

We were heartened to hear of these resources at the State and National level aimed at helping small businesses during this trying time. We will share more details with you as they become available.

Alaska Chamber COVID-19 Business Tool-kit

• CDC Guidance for Businesses and Employers
• Standardized Employee Screening Questionnaire – US Chamber of Commerce
• Guide to Independent Contractors’ CARES Act Relief  – US Chamber of Commerce
• HR Quick Reference Guide on Navigating COVID-19 – RISQ Consulting
• Guidance on Preparing Workplaces for COVID-19 – OSHA/ HSS
• COVID-19 Small Business Guide – US Chamber of Commerce
• Guide to SBA’s Economic Injury Disaster Loans – US Chamber of Commerce
• Coronavirus Emergency Loans Small Business Guide and Checklist  – US Chamber
• Guide to Independent Contractors’ CARES Act Relief  – US Chamber
• Guide to the Employee Retention Tax Credit – US Chamber of Commerce
• Guide to Coronavirus Paid Leave Programs – US Chamber of Commerce
• Health Insurance Resources and Guidance – RISQ Consulting
• Communication Resources – CDC
• How to Acquire Alaskan Made PPE – Alaska Manufacturing Extension Partnership
• Corporate Aid Tracker – How businesses are helping nationwide

• COVID Unemployment FAQ
• SBA Loans and Grants
• Alaska SBDC Support for Rural Businesses PDF

Reopening Cordova

Statewide Tourism Industry Reopening Guidance

Travel in Alaska in the “new normal” following the COVID-19 pandemic will be focused on ensuring trust from travelers, our staff and teams. The Alaska Travel Industry Association (ATIA) along with industry representatives, state health officials and partnering organizations provide guidance to Alaska’s tourism businesses as they re-open safely, across our state. The information in this document reflects the feedback and advice gathered from the Centers for Disease Control and Prevention (CDC) and White House guidelines: “Opening Up America Again” and in consultation with community representatives and state public health experts.

Is Your Business Compliant With Both City & State Regs?

On March 27, 2020, the Governor and his team issued the Alaska Essential Services and Critical Workforce Infrastructure Order. Plan submission guidance can be found in the State of Alaska Press Release 020-003, dated March 25, 2020, which gives clarifying information and instructions for plan submission by businesses maintaining critical infrastructure.

On March 30, 2020, the City of Cordova issued Cordova Emergency Order 2020 which institutes temporary emergency rules and procedures in response to the COVID-19 Health Emergency. There have been a few updates since then, and the most recent version can be found by clicking the button below. Businesses operating in Cordova should pay special attention to Rules #9, #11, #13, and #15.

On April, 24, 2020, the State of Alaska launched its Reopen Alaska Responsibly Plan and corresponding Mandate 16. On May 6th, Cordova City Council approved it’s Reopen Cordova Responsibly Plan, allowing non-essential businesses to restart operations under the strict protocols of State Mandate 16. We strongly recommend you familiarize yourself with the protocols and measures that will need to be in place for your business to begin the Reopen process. Click the button below.

Creative Ways to Support Local Businesses and #ShopCordovaFirst

Creative Ways to Love Local

• Give the gift of business – Call in your orders for pickup if that’s available, order to-go food, buy gift cards, or make online orders.
• Leave Positive Reviews – Search for businesses on Google, Facebook, and Yelp and leave nice reviews & ratings.
• Keep Your Membership/Subscription – If you have a membership to a gym, music or art class, dance class or a subscription to a service provided by a small business — keep it going! Many small business rely on that support to keep afloat.
• Don’t ask for a Refund – Arts Councils, performers, and local event producers often run on very tight margins and rely on event revenue to keep them afloat. If an event or performance gets canceled, consider not asking for a refund so the artist/organization can have more working capital during this difficult time.
• Buy Now, Pick Up Later – If you considered purchasing a larger item like a musical instrument, piece of equipment or order of supplies, consider calling in your order now, paying for it and asking them to set it aside for you to pick up when it’s safe to do so.
• Share The Love Online – Write social media posts about your favorite local businesses and products, share the posts of your favorite businesses, and interact with their posts and virtual events.

News from Cordova’s Incident Management Team

Ongoing Ways to Protect You & Your Business

For your customers: Make your place of business as hygienic as possible and communicate what you are doing to customers so they feel comfortable visiting. Put out hand sanitizer and disinfect surfaces and common areas regularly. Consider offering or promoting existing distance options like drop-boxes and telephone or online support.
For your business: Prepare for negative economic impacts.
– Staffing: Develop staffing plans for varying levels of customers and revenue (what does an 80% scenario plan look like?).
– Insurance: Check with your insurance provider to understand your coverage and options.
– Capital: Create, confirm, or expand your line of credit.

For your employees: Check, modify, and communicate HR policies regarding remote working, sick-leave, and compensation during health crises. Try to ensure your policies are as flexible and non-punitive as possible. Sick employees should be encouraged to STAY HOME.

For your workflow: Cross-train employees for key functions so that daily schedules can continue relatively uninterrupted by potential employee absences. Where relevant, consider staggering start and end times to reduce large numbers of people coming together at the same time; and create and test remote employee collaboration systems (consider apps such as Slack and Zoom). Consider offering telecommuting or work-from-home options for your employees. Local telecommunications providers may be able to help you.

For your cashflow: Communicate with your landlord (or tenants) and lenders about expectations and request flexibility (better to have that conversation now).

For yourself: Eat well, sleep, and exercise. Taking care of yourself in this time of stress will improve your resistance to infection and resilience in managing difficult business situations. And of course, wash your hands all the dang time and don’t touch your face, or anyone else, for that matter.

For your Fellow Business Owners: Local businesses can be of great help to us at times like this. Restaurants and other eateries offer hot, nourishing meals and many have take-out options. Libraries and retailers are great sources for books, movies and games to pass the time. Banks can assist with special loan funds. Stores selling food, medical supplies and other necessities are nearby and easily accessible. If you want to support a local business, but maybe belong to an at-risk part of the population, you can purchase a gift certificate now to be used later or ask a friend of family member to pick things up for you. Steps like that will enable local businesses to keep paying their staff – your friends and family members – and keep businesses viable in our community.

For your Chamber: For us to best serve you, we need to know and share what our members are doing to manage risks. To that end, please tell us what’s working and what you need from us! There may also be federal loans or grants available to small businesses or private, non-profit organizations that suffer substantial economic injury as a result of the declared disaster, so please let us know if you document any substantial losses to your business.

Whether or Not You’re Ready to Reopen — Better Your Business From Home!

If you find yourself with some unexpected downtime, you can still use this time wisely to learn and grow your business from the safety and comfort of your home computer.

Our partner, Alaska Small Business Development Center (AK SBDC) decided to waive all fees for all on-demand and any new live webinars until the end of June!

The following may prove especially helpful right now:

• SBDC Financial Projections
• SBDC Business Insurance
• SBDC Basic Bookkeeping
• Small Business Loans and How to Prepare to Meet Lenders
• Full listing of webinars: https://aksbdc.ecenterdirect.com/events

Here are some of our other favorites: