COVID-19 Financial Resources

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. In addition, we have compiled a helpful list of Re-Opening Resources as it becomes necessary for you and your business here.

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
Small Business Emergency Grant Fund
Small Business Emergency Loan Fund
Montgomery County Resources
Montgomery County Public Health Emergency Grant
Prince George’s County Resources

Virginia

State Website
Department of Health
Virginia Small Business Development
Rebuild VA Small Business Grant Program
Fairfax County Resources
Loudoun County Resources
Loudoun County Tourism and Hospitality Relief Fund
Prince William County Small Business Grant
Prince William County Resources
Prince William County Capital Investment and Innovation Grant
Prince William County Construction & Renovation Permit Rebate

Other Industry Resources

Restaurant Employee Relief Fund

Restaurant workers can apply for a grant paid for by the NRAEF fund starting Thursday, April 2, and will receive a one-time $500 check within three weeks to use toward housing, medical bills, student loans, groceries, and other expenses. To apply, please visit: https://rerf.us/

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. To learn more, visit here.

Google Ad Credits for Small and Medium-Sized Businesses

Google Ads is offering $340 million in ad credits to small and medium-sized business, and they have also set up a fund that will support NGO’s and financial institutions around the world to help provide small business with access to capital. Advertisers receiving ad credits will be notified in the coming months, and the credits can be used at any point throughout the year and will expire on December 31, 2020. To learn more, visit here.

Ballard Spahr Entrepreneur Legal Relief Program

Ballard Spahr has established the Entrepreneur Legal Relief Program (ELRP) to ensure that entrepreneurs have the resources and counsel required to endure the current coronavirus crisis. To learn more, visit here.

Honeycomb Crowdfunded Small Business Relief Loan

Honeycomb is offering 45-day payment free periods, 6-month interest-only periods and reducing our posting, success, and investor fees to help deliver the working capital that businesses need. To learn more, please visit: https://www.honeycombcredit.com/relief

James Beard Foundation Food and Beverage Industry Relief Fund

The purpose of the James Beard Foundation Food and Beverage Industry Relief Fund (the “Fund”) is to provide critical financial assistance to small, independent restaurants that, due to the COVID-19 (Coronavirus) national disaster, have an immediate need for funds to pay set operating expenses and keep from going out of business. To learn more, please visit: https://www.jamesbeard.org/relief

Kabble Online Hub – Kabbage Payments

Through Kabbage Payments™, any business can sign up to sell gift certificates online, and anyone can purchase them to support participating small businesses. To apply and learn more, please visit: https://www.kabbage.com/helpsmallbusiness

Verizon-LISC COVID-19 Recovery Fund

Verizon has invested $2.5 million for LISC to offer critical relief support to small businesses facing immediate financial threat due to COVID-19. The funding will go to make grants of up to $10,000. To learn more, visit here.

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