*6/16* SBA’s Economic Injury Disaster Loans and Advance Program Reopened

*6/16* SBA’s Economic Injury Disaster Loans and Advance Program Reopened

To further meet the needs of U.S. small businesses and non-profits, the U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19 today, June 16.

“The SBA is strongly committed to working around the clock, providing dedicated emergency assistance to the small businesses and non-profits that are facing economic disruption due to the COVID-19 impact.  With the reopening of the EIDL assistance and EIDL Advance application portal to all new applicants, additional small businesses and non-profits will be able to receive these long-term, low interest loans and emergency grants – reducing the economic impacts for their businesses, employees and communities they support,” said SBA Administrator Jovita Carranza.  “Since EIDL assistance due to the pandemic first became available to small businesses located in every state and territory, SBA has worked to provide the greatest amount of emergency economic relief possible.  To meet the unprecedented need, the SBA has made numerous improvements to the application and loan closing process, including deploying new technology and automated tools.”

 

For additional information, please visit the SBA disaster assistance website at SBA.gov/Disaster.

Special Announcement: America’s SBDC Starts New Federal Resource for Small Business

On March 27th, 2020 the Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress with overwhelming, bipartisan support and signed into law by President Trump. 

 In April 2020 under the CARES Act and with the support of U.S. Small Business Administration (SBA), America's SBDC and the Association of Women’s Business Centers (AWBC) were awarded a grant to develop a new website that provides small businesses with access to a consolidation of COVID-19 related information and resources from multiple federal agencies. The grant also supports a new training platform for small business advisors. 

The project, titled “Resource Partners Training Portal (RPTP)” requires two centrally controlled but independent functions. The first is a web platform containing information to assist small business with surviving and recovering from the effects, physical, financial and economic of the Covid-19 pandemic. This centralized platform will consolidate information obtained from multiple federal agency resources and make it accessible in an organized format with searchable functionality. 

The other function of the website will be a training and learning platform for SBDC, WBC, SCORE and VBOC advisers. Recognizing the urgency of this project due to the economic pressures on small business concerns, America's SBDC and AWBC envision the project rolling out in multiple phases, prioritizing the needs of small business concerns.

The training platform for small business advisors will feature live content, author interactive learning experiences, support of SCORM content, forums, communication and collaboration features and more. chat feature for learner collaboration. The expected launch date for the training platform is June 2020.

The public website, COVID-SB.ORG is now live and can be accessed by anyone looking for federal information related to COVID-19 and small business.

The RVA Small Business Relief Fund

The RVA Small Business Relief Fund application window is now open!

ChamberRVA and Facebook collaborated to create the RVA Small Business Relief Fund to provide immediate financial relief to the region’s small businesses in the form of unrestricted grants. Funds may be used to support rent, employee salaries, and operating costs as a stop-gap relief pending the release and distribution of anticipated federal and state aid.

The RVA Small Business Relief Fund is open to all qualifying applicants.

Criteria:

  • Based in the Richmond Region
  • Employ between 2-25 FTE (full time equivalent) employees
  • Have demonstrated negative financial impact from COVID-19
  • Have demonstrated need for working capital to support payroll expenses, rent, mortgage payments, utility expenses, or other similar operational expenses that occur in the ordinary course of business
  • Have demonstrated a focus on reopening as COVID-9 guidance and restrictions allow.
  • Apply Here

Application window will close Tuesday, May 19, 2020 at 5:00 p.m.

Visit the RVA Small Business Relief Fund page for more information.

New Webinar Series: Refocus and Rebuild | Thursdays, May 7-May 28 | Noon EST 

These webinars are co-presented by The Virginia Small Business Development Centers, Virginia Community CapitalGENEDGE ,
Southwest Virginia Alliance for Manufacturing (SVAM), and the University of Virginia's College at Wise

A series of workshops to help businesses get ready and prepared to re-open after COVID-19 including updated regulations, supply chain updates, marketing, accounting/insurance, employment and more. You can register for 1 or all webinars in this series. Register Here: https://www.virginiasbdc.org/training-2/live-webinars/

May 7 - Session 1 = Different Needs for Different Businesses - How to Prepare for Reopening.

May 14 - Session 2 = New Rules for Managing, PPP Fund Management and Challenges of doing business Post COVID-19.

May 21 - Session 3 = Marketing Your Business Post COVID-19.

May 28 - Session 4 = Employment Challenges Post COVID-19.

ICAP Lean Startup Introductory Course – Virtual Cohort

Based on the National Science Foundation’s I-Corps™ program for Lean Startups, ICAP helps inventors and entrepreneurs take the right first steps in bringing new technologies and innovations to market.

ICAP includes FREE introductory training programs and counseling services offered through ICAP instructors and local SBDC counselors. ICAP helps startups identify potential customers and develop successful business models based on that knowledge. It is an ideal program for early-stage companies trying to prepare for eventual venture investment.

Preferred Sectors

The cohort will give preference to startups focused on the following sectors/solutions:

Cybersecurity

Software | Telecommunications | | Information & Communication Technologies | E-Commerce | Networking & Equipment | Electronics/Instrumentation | Sensors | Materials | Drones | IoT

Pandemic Response

Biotechnology | Biopharmaceuticals | Medical Devices | Laboratory Instrumentation | Diagnostics | Healthcare IT | Nutraceuticals | Agricultural | Software | Telecommunications | Information & Communication Technologies | Sensors | Manufacturing

APPLY BY CLICKING HERE

Important Dates

August 23, 2020 – Applications are due by midnight

August 26, 2020 – 6:00pm - 8:00pm – Introductory Webinar

September 1, 2020 – Acceptance notifications and communication with next steps

September 8, 2020 – 1:00pm - 4:00pm – Customer Segments and Initial Team Presentations

September 9, 2020 – 1:00pm - 4:00pm – Value Proposition

September 10, 2020 – 1:00pm - 4:00pm – Customer Discovery

September 17, 2020 – 1:00pm - 4:00pm –Each team reviews their Customer Discovery Progress over the first week

September 24, 2020 – 1:00pm - 4:00pm – Final Team Presentations

During this introductory program, there is extensive work done outside the virtual classroom. In addition to the virtual class meetings, participants should expect to spend another 10-15 hours per week on customer discovery and course assignments. At the conclusion of the program, you will remain connected with your ICAP adjunct to continue your progress on the Five Steps to Startup Success over the following 6 to 24 months.

The introductory program is designed to generate a maximum impact over a relatively short duration and should be considered a required first step for anyone interested in commercializing a technology or product, whether through a startup or licensing arrangement. Some graduates of this cohort may be eligible to apply to NSF’s Seven-week National I-Corps Program, which includes non-dilutive grants for customer discovery and prototype development. Additionally, this program can help teams develop better submissions for SBIR and CRCF grants from Virginia’s Center for Innovative Technologies.

Your ICAP Instructor

Bob Smith is currently the Director of  I-Corps at George Washington University where he helps researchers, inventors, and technology startups develop their technology commercialization and technology business startup efforts. He is also an instructor with the NSF’s DC I-Corp Node.

Bob has 30+ years’ experience in innovation and entrepreneurship. He is the Chairman of CollegeFactual.com, a leading college rankings website. He’s held senior management positions at Congressional Quarterly and America Online in sales, marketing, and new product development and was the founder and CEO of the first nation-wide online city guide, Digital City. As an executive, angel investor, and advisor he has helped companies in e-commerce, e-government, identity management, content publishing, geospatial analytics, data science, and local media go from launch through to favorable exits.

Bob received a BA from USC and his MBA from GWU. He is a veteran of the US Navy.

For more information email: icap@virginiasbdc.org   

This cohort is brought to you by:

    

APPLY BY CLICKING HERE

Elementor #9768

Avoid COVID-19 scams!

Scammers are using the Small Business Administration’s (SBA) name to con small businesses and individuals during the COVID-19 crisis through phone calls, emails, text messages and letters.

Please note:

  • If you are contacted by someone claiming to be from the SBA, suspect fraud.
  • Emails from SBA or other legitimate government agencies will always end in .gov.
  • There is no cost to apply for a COVID-19 Economic Injury Disaster Loan and SBA will never ask you to provide a credit card.
  • Do not release any private information (social security number, date of birth, etc.) or banking information in response to an unsolicited caller, letter, email, or text.
  • If you are in the process of applying for an SBA loan and receive email correspondence asking for PII, ensure that the referenced application number is consistent with your application number.
  • An SBA logo on an email or webpage does not guarantee the information is accurate or from the SBA.
  • Check for spelling and grammatical errors in an email and be wary of clicking on any links or attachments.
  • For help with applying for an Economic Injury Disaster Loan, call 800-659-2955 or email disastercustomerservice@sba.gov. You can also use a text telephone (TTY) by calling 1-800-877-8339.
  • For inquiries regarding support for small businesses, send an email to answerdesk@sba.gov
  • Visit the Small Business Cybersecurity site to learn more about small Business Cybersecurity tips, common threats, training, and best practices. https://www.sba.gov/business-guide/manage-your-business/small-business-cybersecurity
  • Visit the U.S. Department of Homeland Security’s Cyber Infrastructure site for small business resources. https://w.gov/publication/stopthinkconnect-small-business-resources
  • Trust your instincts! If something seems too good to be true, then it probably is too good to be true.

Still have questions?  Request advising here.

SBDC Director Stephanie Keener continues to help businesses thrive, grow in Lynchburg region

Some of the most enjoyable aspects of Stephanie Keener’s job are breaking down barriers and helping businesses know where their resources are and knowing to whom they can direct their questions.

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Virginia SBDC