COVID-19 Business Resources
Provided by the ACE Women’s Business Center
ACE Women’s Business Center will continuously update these resources to provide you with the best information to aid your small business during this time. To ensure the health and safety of our clients and staff, ACE is being proactive by making a few adjustments to our regular business practices. All of our training programs will be presented by webinar and individual consultations will be done by telephone or videoconferencing.
We look forward to continuing to assist Georgia’s entrepreneurs.
*This page will be updated as new content becomes available*
SBA COVID-19 Relief Options
Paycheck Protection Program (PPP)
The SBA has re-opened the Paycheck Protection Program (PPP) loan portal to all participating PPP lenders. PPP provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. SBA is currently offering:
- First Draw PPP loans- for those borrowers who have not received a PPP loan before August 8, 2020.
- Second Draw PPP loans- for eligible small businesses with 300 employees or less and that previously received a First Draw PPP loan. These borrowers will have to use or had used the full amount of their First Draw loan only for authorized uses and demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020. The maximum amount of a Second Draw PPP loan is $2 million.
The Paycheck Protection Program remains open for First and Second Draw PPP loans until March 31, 2021, as set forth in the Economic Aid Act, or until Congressionally-appropriated funding is exhausted. Learn More
Economic Disaster Loan Program (EIDL)
EIDL now available through December 31, 2021: for small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue- More info here:
Small business owners and qualified agricultural businesses in all U.S. states and territories are currently eligible to apply for a low-interest loan due to COVID-19.
Agricultural businesses with 500 or fewer employees are now eligible as a result of new authority granted by Congress in response to the COVID-19 pandemic.
Agricultural businesses include those businesses engaged in the production of food and fiber, ranching, and raising of livestock, aquaculture, and all other farming and agricultural related industries (as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)). Learn More
Targeted EIDL Advance
The Targeted EIDL Advance provides businesses located in low-income communities with additional funds to ensure small business continuity, adaptation, and resiliency.
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.
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.
SBA Debt Relief
The SBA will pay 6 months of principal, interest, and any associated fees that borrowers owe for all current 7(a), 504, and Microloans in regular servicing status as well as new 7(a), 504, and Microloans disbursed prior to September 27, 2020. This relief is not available for Paycheck Protection Program loans or Economic Injury Disaster loans.
Borrowers do not need to apply for this assistance, it will be automatically provided.
SBA Express Bridge Loans
Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. If a small business has an urgent need for cash while waiting for decision and disbursement on an Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.
Shuttered Venue Operators Grant
Eligible applicants may qualify for SVO 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.
SBA’s Ascent is an interactive digital platform packed with resources women business owners need to set, and achieve, their business goals. Ascent is designed for the “missing middle” — growth-oriented women entrepreneurs who are beyond the start-up phase and already generating revenue yet looking to grow and scale. Most learning resources for business owners focus on either start-ups or mature businesses. Ascent is here to change that!
Ascent was created through a joint initiative between the White House, the U.S. Small Business Administration (SBA), the U.S. Department of Labor’s Women’s Bureau, and the U.S. Department of the Treasury.
Small Business Resources
Several major Atlanta law firms and the State Bar of Georgia have partnered together to offer free legal advice to small businesses on pressing coronavirus-related concerns, such as federal relief programs and employment matters, through a free legal clinic. In response to the devastating economic impact of COVID-19 on small businesses and nonprofits, the Small Business and Nonprofit Remote Pro Bono Clinic assists nonprofit organizations and small businesses with 25 or fewer employees who can benefit from a consultation regarding legal issues they are facing as a result of the pandemic. The services are offered in a virtual clinic format in which small businesses are paired with attorneys who can offer assistance in areas related to federal loan relief, lease modifications, insurance, tax, employment, contract enforcement and bankruptcy/dissolution.
Travelers announced the launch of a robust suite of industry-leading risk management resources to help businesses safely reopen amid the COVID-19 pandemic. The resources include a series of webinars, articles, podcasts and interactive tools designed to provide straightforward guidance on protecting employees, customers and property as businesses resume operations.
To help alleviate some of the costs for small and medium-sized businesses (SMBs) to stay in touch with their customers during this challenging time, Google is giving small businesses $340 million in ad credits to businesses around the globe.
Microsoft is providing six months of Office 365 tools for free to enable remote collaboration, file sharing, and video conferencing.