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COVID-19 Business Resources

As we all work to navigate the impacts of COVID-19, the Tahoe Chamber is continuously working to collect and share resources to assist our businesses and greater community in staying healthy, staying informed, and being prepared to emerge from this crisis.

To help us better serve our local businesses, please take a moment to complete this brief survey.

The Small Business Owner’s Guide to the CARES Act

The programs and initiatives in the Coronavirus Aid, Relief, and Economic Security (CARES) Act are intended to assist business owners with whatever needs they have right now. When implemented, there will be many new resources available for small businesses, as well as certain non-profits and other employers. This guide provides information about the major programs and initiatives that will soon be available from the Small Business Administration (SBA) to address these needs, as well as some additional tax provisions that are outside the scope of SBA. 

Review Full Guide to the CARES Act

Emergency Loans Small Business Guide and Checklist, U.S. Chamber of Commerce

Guide to Economic Industry Disaster Loans, U.S. Chamber of Commerce

Guide to the Employee Retention Tax Credit, U.S Chamber of Commerce

Paycheck Protection Program Loan Summary

Paycheck Protection Program Application

CARES Act Flow Chart for Small Businesses

CARES Act family & individual rebates FAQ | Spanish version

Paycheck Protection Program (PPP) – CARES Act

The Paycheck Protection Program, which was enacted under the Coronavirus Aid, Relief and Economic Security (CARES) Act (P.L.116-136), allocates nearly $350 billion for companies to cover payroll expenses so they can retain workers during the coronavirus pandemic.

Lenders will start accepting Paycheck Protection Loan (PPP) applications April 3rd, for small businesses and sole proprietors. Independent contractors and self-employers can begin submitting applications on April 10th. This program provides potentially forgivable loans in amounts to cover 2.5 months of payroll or $10 million (whichever is less).

To apply for a PPP:
  • Review the summary of the program and the application and gather the necessary materials such as payroll tax filings, proof of lease payments, proof of mortgage payments, and proof of utility payments
  • Get in contact with your accountant and/or bank that pays out your business’s payroll.
  • Contact your bank to confirm whether if it is authorized to process your Paycheck Protection Program loan. Review their loan processing requirements.
  • If you are not connected to an authorized lender, you can search for an eligible lender here. Please note: only headquarter locations are shown currently. Many local banks are participating in the program, which is why we recommend contacting your current bank as a first step.

 

Local Lender Information

  • Wells Fargo – Now accepting applications
  • U.S Bank – Must complete Paycheck Protection Program online inquiry form and a representative will reach out to you with assitance

Economic Injury Disaster Loan (EIDL) – CARES Act

The SBA will work directly with state Governors to provide targeted, low-interest loans to small businesses and non-profits that have been severely impacted by the Coronavirus (COVID-19). The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

Guide to the Employee Retention Tax Credit – CARES Act

The Coronavirus Aid, Relief, and Economic Security (CARES) Act created a new employee retention tax credit for employers who are closed, partially closed, or experiencing significant revenue losses as a result of COVID-19.

Who is eligible?

Private employers, including non-profits, carrying on a trade or business in 2020 that:

  • Have operations partially or fully suspended as a result of orders from a governmental authority due to COVID-19, or
  • Experience a decline in gross receipts by more than 50% in a quarter compared to the same quarter in 2019 (eligibility ends when gross receipts in a quarter exceed 80% compared to the same 2019 quarter)

With respect to tax-exempt organizations under 501(c) of the tax code, the requirement to be partially or fully suspended applies to all operations of the organization.

Employers who receive a Paycheck Protection Program (PPP) loan are not eligible for a tax credit. 

Save Small Business Grant Fund – U.S. Chamber of Commerce

The U.S. Chamber of Commerce Foundation has launched the Save Small Business Grant Fund. Funded by contributions from corporate and philanthropic partners, the program provides $5,000 supplemental grants to small employers in economically vulnerable communities.

Application opens April 20th at 12 PM. Notify me when I can apply

Eligibility:

  • Employ between 3 and 20 people
  • Be located in an economically vulnerable community
  • Have been harmed financially by the  COVID-19 pandemic
What you can expect:
  • The application is short. It will take about 10 minutes to complete.
  • All you will need is your business’s W-9 form.
  • Grants will be awarded on a weekly basis, but you only need to apply one time to be eligible for funding.

Guide to the Save Small Business Grant Fund

Financial Resources:

  • SBA Funding Programs – Capital Access
    • Incidents can strain a small business’s financial capacity to make payroll, maintain inventory and respond to market fluctuations (both sudden drops and surges in demand). Businesses should prepare by exploring and testing their capital access options so they have what they need when they need it.

 

Local Resources:

 

State Resources:

California

Nevada

 

National Resources:

 

Health & Safety Resources

 

Please contact us directly regarding any questions, needs, or concerns as they pertain to the COVID-19 response in our region.

Financial Resources

 

Family Assistance

 

Mental Health

 

Health & Safety Resources

 

Please contact us directly regarding any questions, needs, or concerns as they pertain to the COVID-19 response in our region.

Announcements and Regulations

  • April 15 – Forest Service issues temporary closure for South Shore Recreation Corridor. More information
  • April 2 – Latest Barton Health Response to Coronavirus COVID-19. More information
  • March 31 – Nevada Governor Sisolak announces Stay at Home directive. More information
  • March 27 – Emergency order signed giving City of South Lake Tahoe power to enforce ‘stay at home’ order. More information
  • March 24 – El Dorado County backs Governor’s ‘Stay at Home’ order by clarifying that staying in hotels, motels, vacation rentals, and campgrounds are “non-essential”. More information
  • March 19 – California Governor Newsom is ordering residents to stay home except for essential need. More information
  • March 19 – ​El Dorado County issues directives to residents to shelter in place. More information 
  • March 18 – Nevada Governor Sisolak orders closure of all non-essential businesses for the next 30 days, including restricting restaurants from offering dine-in services. More information
  • March 16 – Governor Newsom Issues Executive Order to Protect Renters and Homeowners During COVID-19 Pandemic. More information
  • March 15 – CDC recommends that for the next 8 weeks, organizers cancel or postpone in-person events that consist of 50 people or more throughout the U.S. More Information on Mass Gatherings
  • March 15 – California Governor Newsom recommends the closures of bars, nightclubs, brewpubs, and wineries as well as a reduction of capacity by 50% for restaurants to help prevent the spread of COVID-19. More information

 

Resource Articles:

 

Please contact us directly regarding any questions, needs, or concerns as they pertain to the COVID-19 response in our region.