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Information and Resources During the COVID-19 Outbreak

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Access a checklist and guided process to evaluate and reopen your business!

A Process to help you navigate how to move forward with your business during and after the COVID-19 pandemic

The Virginia SBDC network has developed the Business Recovery webpage to help owners carefully plan for and execute their businesses’  new strategy. Reopening a business under current circumstances requires owners to make a careful analysis of the current situation, their capabilities, and goals.  They must recognize how the market and customer has changed- the same applies to businesses that were able to continue operations.  Additionally, businesses will need to calculate the new operating costs they’ll incur with additional safety measures. It might also necessitate owners to re-imagine their business concept. The detailed guidelines in the Business Recovery web page cover a broad range of critical considerations for business recovery. 

SBA Launches lendermatch to Connect small businesses with lenders

The Small Business Association (SBA) has announced the availability of a dedicated online tool, called LenderMatch, to provide an additional resource for pandemic-affected small businesses that have not applied for or received an approved PPP loan to connect with lenders. LenderMatch enables small businesses and nonprofits to be matched with Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), Farm Credit System lenders, Microlenders, as well as traditional smaller asset size lenders in the Paycheck Protection Program (PPP).

The LenderMatch process is as follows:

  • Within two business days after entering their information into the LenderMatch platform, a borrower receives an email from lenders who have been matched with them.
  • The borrower can see lenders’ requests for them to begin an application.
  • Borrowers are then able to begin the application process directly from the email they receive.

The forgivable PPP loan is emergency relief assistance aimed at sustaining businesses and keeping employees on payroll. Lender Match does not accept Economic Injury Disaster Loan applications.

For more information, read the announcement from the SBA. More information can also be found on the LenderMatch program page.

Who qualifies for Pandemic Unemployment Assistance (PUA)?

PUA provides unemployment benefits to those traditionally not eligible for unemployment benefits due to the inability to work because of the coronavirus health crisis. These workers include: self-employed, independent contractors, workers with limited work history, and more. Review this checklist to confirm you qualify.  

If you think you are eligible for PUA, please note:

  • In order to be deemed eligible for PUA, applicants MUST first apply for traditional unemployment insurance and be denied. Information about the PUA application process can be found here: https://www.vec.virginia.gov/   Please note: This page will provide a link to the PUA application but individuals still must FIRST apply for unemployment insurance.
  • Once denied unemployment insurance, individuals may apply for PUA at:  https://www.vec.virginia.gov/html/pua.html

This flowchart shows you how the process works. 

Can I Get Help with the Loan Preparation Process?

Yes! The Loudoun SBDC has coaches 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 coach as soon as possible. NOTE: All coaching through the SBDC Loudoun is free of charge.

To help you understand the EIDL Application process we’ve prepared this video overview and guide for the new streamlined application:

See More 

Virginia enters phase 3 reopening on july 1

Governor Northam announced that Virginia, including Northern Virginia, will move to Phase 3 reopening on July 1. Under Phase 3 guidelines, social gatherings can include up to 250 people. Other criteria include:

  • Child-care centers will be allowed to reopen.
  • Restaurants and nonessential retail businesses will be able to operate at full capacity, with physical distancing measures.
  • Swimming pools, indoor gyms and fitness centers will be allowed to operate at 75 percent capacity.
  • Barbershops and hair salons will be allowed to take walk-ins, but with masks and distancing required.
  • Entertainment venues, such as museums and zoos, will be permitted to open at 50 percent capacity, with a cap of 1,000 people at outdoor venues.

Northam said he will continue to encourage Virginians to stay home when possible, telework and observe social distancing. View the full statement of

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About the SBDC Loudoun

Resources for business growth

The Loudoun Small Business Development Center (SBDC) was created to promote entrepreneurship and small business growth. It fulfills that mission by providing one-on-one coaching, educational offerings such as 1 Million Cups and workshops like How to Start a Business and the Business Plan Boot Camp as well as information on all aspects of small business management. From start-up through growth stage, we provide current and innovative resources and support small businesses that go on to achieve their greatest success.

Proudly Supported By

This program is supported in part by an agreement with the U.S. Small Business Administration.

Headlines

Virginia To Enter Phase 3 Reopening on July 1

On Tuesday, Governor Northam announced that Virginia, including Northern Virginia, will move to Phase 3 reopening on July 1. Under Phase 3 guidelines, social gatherings can include up to 250 people. Other criteria include: Child-care centers will be allowed to...

Northern Virginia Enters Phase Two Reopening on Friday, June 12

Governor Ralph Northam announce Tuesday, June 9, that Northern Virginia can enter reopening phase two on Friday, June 12 as metrics on the spread of the coronavirus continue to improve. Phase Two expands the number of people...

Can I Reinstate an Old Limited Liability Company (LLC)?

We recently got a question from a client at the SBDC about an older Limited Liability Company (LLC) that was created but never really launched. The person had filed the registration paperwork and officially formed the LLC but had then let the registration lapse after...

Leesburg Business Infusion (LBI) Grant Fund Announced

The Leesburg Town Council approved the Leesburg Business Infusion (LBI) grant fund. The focus of the Leesburg Business Infusion Grant Program is to provide those local businesses currently facing the greatest financial hardship due to the COVID-19 crisis with an...

100WomenStrong Create Pay It Forward Loan Program

To meet the immediate needs of Loudoun County residents who may not be able to pay all of their bills, 100WomenStrong has created a loan program called Pay It Forward. It a community partnership, with donations coming from area businesses, 100WomenStrong, Community...

Using CARES Act Funding to Purchase a Business

Some of our Loudoun SBDC clients have asked if they can use CARES Act funding to purchase or grow their business. When we look at the Paycheck Protection Plan program the answer is "no". That money can only be used for a limited number of expenses for existing...

SBA Launches LenderMatch to Connect Small Businesses with PPP Lenders

The Small Business Administration (SBA) has announced the availability of a dedicated online tool, called LenderMatch, to provide an additional resource for pandemic-affected small businesses that have not applied for or received an approved PPP loan to connect with...

Contact

Phone

703-466-0466

Email

mec20175@gmu.edu

Address

202 Church St SE, Leesburg, VA 20175

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