Federal Guidance & Resources for Communities & Businesses in Response to COVID-19
Updated April 1, 2020
CARES Act of 2020
On March 27, the President signed the $2 trillion CARES Act (Coronavirus Aid, Relief, and Economic Security) of 2020 to “provide emergency assistance and health care response for individuals, families, and businesses affected by the 2020 coronavirus pandemic.”
The Act includes several stimulus programs including loans for both large and small businesses, stimulus checks for individuals, expanded unemployment insurance for workers, paid family leave, paid sick leave and mortgage/renter relief. Business owners can visit the SBA’s website to apply for loans.
The U.S. Senate Committee on Small Business & Entrepreneurship has developed this guide on The CARES Act.
IEDC is assembling a list of COVID-19 federal resources for economic developers, employers and employees. We encourage you to continue to monitor this site for updates on valuable content and resources.
Small Business Administration (SBA) - The SBA is offering loans to eligible small businesses and non-profits for working capital. Interest rates for the loans are 3.75% for small businesses and 2.75% for non-profits. Visit this March 12 press release that details the Process for Accessing SBA’s Coronavirus (COVID-19) Disaster Relief Lending.
US Department of Homeland Security - Federal Emergency Management Agency (FEMA) - Communities may be eligible for funding due to the March 13 declaration of a public emergency in response to COVID-19. This action “directs FEMA to assist state, local, tribal, territorial governments and other eligible entities with the health and safety actions they take on behalf of the American public”. Visit this site for updates on COVID-19 funding for your community. Each state, territory and tribal government has an entry for the COVID-19, with important information under the “Financial Assistance” section.
Centers for Disease Control (CDC) - The CDC's website is the most comprehensive resource on COVID-19. The agency also offers an ”Interim Guidance for Businesses and Employers", designed to assist with planning and responding to COVID-19.
Internal Revenue Service (IRS) - The IRS has extended the deadlines for filing taxes and any payments of due federal income tax until July 15th, 2020. They have also created a section for taxpayers on businesses impacted by COVID-19.
US Department of Labor (DOL) - DOL is providing resources for COVID-19 workplace safety - including OSHA guidance; wages, hours and leave; and unemployment insurance.
US Department of Agriculture (USDA) - The USDA offers an FAQ on food safety, information on trade and foreign agriculture affairs, and updates on support services such as SNAP and WIC.
Department of Education (DOE) - With so many elementary, secondary and higher education schools currently closed, DOE has many COVID-19 resources for educators. Perhaps most notable is guidance on remote/distance learning.
Export-Import Bank of the United States (EXIM) - EXIM is offering several relief measures to banks, exporters, and small businesses impacted by the coronavirus.
US Chamber of Commerce (non-governmental organization) - The Chamber has developed a guide of loans available for businesses in the CARES Act and a “Resources and Guidelines for Business” site to help business owners and employees address the economic/business impact of COVID-19.
The Consumer Financial Protection Bureau (CFPB) - The CFPB is offering resources on how individuals can protect themselves financially, including those suffering hardships with paying debts and lenders and what to do if one loses their job.
USA.gov is a comprehensive collection of government resources for businesses & residents, which includes a section dedicated to COVID-19.