COVID-19 Business Resources

By March 17, 2020Community Impact, Featured

COVID-19 Business Resources

At Peterson Companies, our centers are home to many small and mid-sized businesses, and we want to keep you informed about any resources that are available to help through these challenging circumstances.  The federal and state governments have established programs to minimize the economic impact of the novel Coronavirus (COVID-19). We encourage you to research any such programs that may be applicable to your situation or business. Please keep checking this page as we will continuously update it with the latest information relevant to your business.

Getting Started and Navigating Legislation

 

CARES Act

The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses. The administration soon will release more details including the list of lenders offering loans under the program, but in the interim we have provided a few links with some information below:

      • The U.S. Chamber of Commerce has issued this guide to help small businesses and self-employed individuals prepare to file for a loan. The guide can be found here.
      • The National Restaurant Association provides a summary of the CARES Act’s key provisions pertaining to restaurants, foodservice establishments and employees. The outline can be found here and you may sign up for updates via email.

U.S. Small Business Association

The U.S. Small Business Administration will provide capital and liquidity to certain businesses affected by the Coronavirus. Please visit the SBA website for guidance for businesses and employers impacted by Coronavirus. On the SBA website, you will find:

If You Need Access to Capital

The SBA Loans page can connect you to lenders available to provide you the capital needed to keep the doors open during uncertain times. The Lender Match Program is a free referral tool that can connect you with participating SBA-approved lenders. Additionally, the SBA’s Local Assistance Directory can connect you to several local partners to counsel, mentor, and train small businesses.

CDC Recommendations for Businesses and Employers

We encourage you to familiarize yourself and your employees if you haven’t already with the information found here:
Public Health Management
CDC Resources

State and Local Resources

Several states are offering guidance and assistance for businesses and individuals impacted by COVID-19. You can access such information through your local and state government websites. The links below include information for the states in which Peterson Companies conducts business.

Maryland
COVID-19 Information for Businesses
State Website
Department of Health
Montgomery County Resources
Prince George’s County Resources

Virginia
State Website
Department of Health
Virginia Small Business Development
Fairfax County Resources
Loudoun County Resources
Prince William County Resources

Northern Virginia Rapid Response COVID-19 Business Support Grants

A business with employees located in Northern Virginia (Fairfax, Loudoun, and Prince William counties and the cities of Fairfax, Falls Church, Manassas and Manassas Park) that has 250 or fewer employees is eligible. For full instructions for submission, please visit: https://vcwnorthern.com/covid19-rapid-response/

Facebook Grant Program

Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses: https://www.facebook.com/business/grants

Yelp Marketing Relief

Yelp is offering $25 million in relief, primarily focused on supporting independent, local restaurant and nightlife businesses, in the form of waived advertising fees and free advertising, products, and services during this period. More here.

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