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The original item was published from 3/20/2020 2:01:00 PM to 3/20/2020 4:26:42 PM.

News Flash

Economic Development

Posted on: March 17, 2020

[ARCHIVED] COVID-19 Business Resources

COVID-19 Business Resources

The Office of Economic Development has compiled a list of resources for businesses in James City County. This list will be updated as new resources are available.

For the most up-to-date information from COVID-19 in James City County, please visit the County website.
https://jamescitycountyva.gov/covid

Input Needed from Business Owners
The Virginia Department of Small Business and Supplier Diversity is asking that business owners take a moment to complete a short survey so they can share the results with State and Federal partners. They would like to receive responses as soon as possible but will be leaving the survey open through Friday, March 27 at 5 p.m. to capture responses.
https://www.surveymonkey.com/r/7RMY8SH

The Virginia Department of Emergency Management Private Sector Team published a survey for the private sector to submit issues they are experiencing and offers of assistance to Virginia (donation, in-kind contribution, discounted, or contracted). That survey can be accessed at https://arcg.is/1amrze.

Virginia Department of Emergency Management
Businesses are encouraged to join the Virginia Department of Emergency Management Private Sector Portal. This portal provides useful information to businesses in the private sector.
http://bit.ly/VaPrivateSector

Small Business Administration (SBA)
COVID-19 Small Business Guidance & Loan Resources
https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

A disaster declaration was approved by the SBA for a number of Virginia localities including James City County. The declaration can be viewed online. https://disasterloan.sba.gov/ela/Declarations/ Businesses can now apply for SBA Disaster Loans online. https://disasterloan.sba.gov/ela/ If a business does not have access to a computer or smartphone, please call SBA at 1‐800‐659‐2955 for assistance.

SCORE
SCORE is a 501(c)(3) nonprofit organization and a resource partner of the U.S. Small Business Administration (SBA).
https://www.score.org

Hampton Roads Small Business Development Center (HRSBDC)
The HRSBDC has guidance on their website.
http://www.hrsbdc.org/preparing-covid-19-virginia-small-businesses/

HRSBDC will provide webinars next week for SBA Disaster Loan applications. We will provide information on registration once we receive it.

Tips for Record Keeping for Future Economic Impact Disaster Loan Assistance Program
While specifics remain to be promulgated from the SBA concerning the procedures to be followed and information that may be required to process the application, small business owners can start preparing in advance.

Based on experience, here are some tips that will streamline the process:

  • One of the challenges was that too many business owners did not have good records at hand and were stressed by having to go back to find them.
  • We don’t know until we see the specific disaster declaration what the requirements will be regarding how much loss the business will have to demonstrate. It could be over a period of time or a percentage of current sales.
  • This is not a loan that businesses can apply for too early.

Concerning the organization of records, SBA will want to see:

  • Monthly sales history for the past two years
  • Accurate year-end business financial statements (income and balance sheet)
  • As time transpires, interim month-end statements may also be required
  • You will need to show a downturn in sales from prior periods (details unknown at this time) - early application may be premature

From the Governor of Virginia
Latest information:     https://www.virginia.gov/coronavirus-updates

The Commonwealth of Virginia is coordinating with the Small Business Administration (SBA) on the disaster declaration that will enable small businesses statewide to receive assistance through the SBA’s Economic Injury Disaster Loan Program. Our application is finalized and the Governor is submitted the request. The public will be notified as soon as SBA has approved the disaster declaration and the funding is available.

Support for Impacted Employers

  • Regional workforce teams will be activated to support employers that slow or cease operations. Employers who do slow or cease operations will not be financially penalized for an increase in workers requesting unemployment benefits.
  • The Governor is authorizing rapid response funding, through the Workforce Innovation and Opportunity Act, for employers eligible to remain open during this emergency. Funds may be used to clean facilities and support emergency needs.
  • Governor Northam is directing all employers to follow U.S. Department of Labor guidance on workplace safety. https://bit.ly/39Zub3c

Utilities
The State Corporation Commission issued an order directing utilities it regulates, such as electric, natural gas and water companies in Virginia, to suspend service disconnections for 60 days to provide immediate relief for any customer, residential and business, who may be financially impacted by the COVID-19 outbreak.

Port of Virginia
Information about the Port of Virginia is available on their website.
http://www.portofvirginia.com/

Center for Disease Control
The Centers for Disease Control & Prevention has issued COVID-19 guidance for businesses:

Resources for Business & Employers
https://www.cdc.gov/coronavirus/2019-ncov/community/organizations/businesses-employers.html

General Info & FAQs
https://www.cdc.gov/coronavirus/2019-ncov/index.html

Steps to Preventing Illness
https://www.cdc.gov/coronavirus/2019-ncov/prepare/prevention.html

Preventing COVID-19 Spread in Communities
https://www.cdc.gov/coronavirus/2019-ncov/community/index.html

Internal Revenue Service
Disaster Assistance and Emergency Relief for Individuals and Businesses
https://www.irs.gov/businesses/small-businesses-self-employed/disaster-assistance-and-emergency-relief-for-individuals-and-businesses

Local Chambers of Commerce and Retail Alliance
The Virginia Peninsula Chamber of Commerce has a COVID-19 newsletter. It can be viewed on their website.

http://www.virginiapeninsulachamber.com/

Hampton Roads Retail Alliance
https://retailalliance.com/coronavirus-resources-for-retailers/

Last update March 20, 2 p.m.

Contact Information
James City County Office of Economic Development
757-253-6607; yesjcc@jamescitycountyva.gov

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