How do I get Financial Assistance?
The Virginia SBDC has business advisors that can help you with loan package preparation. If you have questions about the process or need assistance in gathering information or filling out application forms contact us and we will get you connected with a business advisor as soon as possible.
Contact your SBDC advisor. Request advising here.
Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email firstname.lastname@example.org for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. The Service Center is open 7 days a week from 7:00am to 9:00pm.
Individuals who are deaf or hard‑of‑hearing may call SBA’s Customer Service Center via the Federal Relay Line by calling (800) 877-8339. You may also email email@example.com for more information on SBA disaster assistance. The Service Center is open 7 days a week from 7:00am to 9:00pm.
Some local cities and counties throughout Virginia have begun to make loans available to their local businesses. Check your local county sites to see if there is one in your locality. You can find a list of county websites here:
Virginia Funding Resource: https://vcwnorthern.com/covid19-rapid-response/
Many banks have offered deferment and forbearance to business loan customers having trouble making payments. Search for your bank on the American Bankers Association’s ongoing A-Z list of coronavirus response programs.
Betterfin Launches ReadyRelief to Assist in Securing Stimulus Funds: Checkout this easy-to-use, consumer facing platform for small business owners and a white-label version for SBDC advisors to use with small business clients. Click here to learn more.
The US Chamber of Commerce launched the Save Small Business Grant Program. More details can be found here: https://savesmallbusiness.com/
The Salesforce Care Small Business Grant: Salesforce is partnering with Ureeka to offer eligible small businesses the opportunity to receive a $10,000 grant to help them through the COVID-19 outbreak. In order to ensure an optimal user experience, applications will open in 2 phases. Phases are based on location, each phase will have 1 week to apply. Midway through the page, there’s a state-by-state map to see when your state’s phase is open. Applications open in Virginia Until May 1 at 11:59 PM EST.
Facebook has committed to offering up to 30,000 small businesses $100 million in cash grants and Facebook advertising credits. The grants will be provided to businesses in more than 30 countries. Grants are available for small businesses in Richmond, Ashburn/Loudoun, and Washington DC., Application is currently OPEN.
GoFundMe and Yelp are partnering together to launch the Small Business Relief Fund. Find out more information here
The Natural Capitol Investment Fund has partnered with Truist to distribute $1 million in grants to small businesses affected by the COVID-19 pandemic. To learn more about the Truist Cares small business grant program, click the link below: https://media.truist.com/2020-03-25-Truist-Commits-2-Million-to-Support-Small-Businesses-Affected-by-the-COVID-19-Pandemic
To help local restaurants and bars, Yelp announced $25 million in reliefin the form of waived advertising fees, free advertising, and products and services.
James Beard Foundation, the national nonprofit culinary arts organization, has launched the Food and Beverage Industry Relief Fund.
Kiva is providing eligible US businesses with loans up to $15,000. https://www.kiva.org/blog/support-local-businesses-during-the-coronavirus-pandemic
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.
- 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 firstname.lastname@example.org. 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 email@example.com
- 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.
As businesses begin to look at reopening and/or planning to transition to the ‘new normal,’ there are a number of factors to consider and decisions to be made. The Virginia SBDC recommends using the process below no matter what stage you are in to determine your next steps. This checklist is meant to help guide you through those important questions as you look to reimagine your business and find success in the post-crisis world. Wherever your business may be currently, we suggest starting at the very beginning of the checklist and working your way through.