Rob Betts requested that the following Small Business Administration (SBA) announcement be shared with LaRC Contractors Steering Council members.

The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, announced that it is setting aside $10 billion of Round 2 funding for the Paycheck Protection Program (PPP) to be lent exclusively by Community Development Financial Institutions (CDFIs). CDFIs work to expand economic opportunity in low-income communities by providing access to financial products and services for local residents and businesses. These dedicated funds will further ensure that the PPP reaches all communities in need of relief during the COVID-19 pandemic – a key priority for President Trump.

Please use this link to access the full text of SBA’s press release:

SBA and Treasury Department Announce $10 Billion for CDFIs to Participate in the Paycheck Protection Program

Rob Betts requested that the following Small Business Administration (SBA) announcement be shared with LaRC Contractors Steering Council members.

Coronavirus (COVID-19): Small Business Guidance & Loan Resources

Paycheck Protection Program (PPP)
Wednesday, May 27, 2020 – 9:00am EDT
SBA Sponsored
Registration Required

Webinar: SBA Economic Resources for COVID-19(EIDL)
Wednesday, May 27, 2020 – 11:00am EDT
SBA Sponsored
Registration Required

Paycheck Protection Program (PPP)
Thursday, May 28, 2020 – 9:00am EDT
SBA Sponsored
Registration Required

Webinar: SBA Economic Resources for COVID-19(EIDL)
Thursday, May 28, 2020 – 11:00am EDT
SBA Sponsored
Registration Required

Paycheck Protection Program (PPP)
Friday, May 29, 2020 – 9:00am EDT
SBA Sponsored
Registration Required

Webinar: SBA Economic Resources for COVID-19(EIDL)
Friday, May 29, 2020 – 11:00am EDT
SBA Sponsored
Registration Required

Paycheck Protection Program (PPP)
Saturday, May 30, 2020 – 9:00am EDT
SBA Sponsored
Registration Required

Paycheck Protection Program (PPP)
Sunday, May 31, 2020 – 9:00am EDT
SBA Sponsored
Registration Required

Additional Resources

SCORE Coronavirus Resources

Veteran Business Outreach Center (VBOC) Resources

Virginia PTAC

Virginia SBDC Recovery Resources

Women’s Business Center (WBC) Resources

SBA EIDL and PPP Resources

Economic Injury Disaster Advance Loan

Payroll Protection Plan

Rob Betts requested that the following Hampton City Council announcement be shared with LaRC Contractors Steering Council members.

On April 10, 2020 Hampton City Council authorized a forgivable loan assistance program for small Hampton-based businesses. The program is designed to help small businesses adversely impacted by Gov. Ralph Northam’s order to close or significantly limit business operations as outlined in Executive Order 53.

These forgivable loans of up to $10,000 are designed to give Hampton businesses access to needed cash until federal and/or state assistance funds arrive. They will be administered by the Hampton Economic Development Authority (EDA). The loans can be used for payroll expenses, rent or mortgage payments, utility expenses, marketing and other eligible business expenses incurred during normal operations. Loan applications will be accepted until available funds are exhausted or September 30, whichever is earlier.

Information on applying for the Small Business Assistance Program is available now. Please visit our COVID-19 Small Business Assistance Program page to learn more and to apply for a loan.

Businesses are also eligible to apply for an extension on local property and business personal property taxes; however, they cannot receive both forms of relief.

Businesses that apply and are accepted will have until August 1, 2020, to pay their personal property, real estate, and business personal property with no interest or penalty fees. Applicants must show they have a demonstrated financial loss or strain directly attributable to COVID-19 and not covered by unemployment and other stimulus programs.

Extension applications must be submitted to the Treasurer’s office by Friday, May 15, 2020. The Treasurer’s Office will notify taxpayers if their application is accepted.

To apply for an extension, go to hampton.gov/treasurer/covidrelief. You can apply online or download a printable form Forms must be mailed (postmarked by May 15) or delivered to the Treasurer’s Office drop box at the Ruppert Sargent Building, 1 Franklin Street. Printed applications will also be available in boxes attached to the doors of that building.

Rob Betts requested that the following Small Business Administration (SBA) announcement be shared with LaRC Contractors Steering Council members.

The past weeks have been unprecedented as the country comes to grips with the Coronavirus (COVID-19) global pandemic. We recognize that small business owners like you may continue to be impacted by events that lie ahead. SBA is here to support you as best we can. For updated information on guidance and resources available, visit:

SBA.gov/Coronavirus for small businesses impacted by the pandemic
Information on the Paycheck Protection Program

SBA.gov/Disaster for information on SBA’s Economic Injury Disaster Loans (EIDL) and the Loan Advance

Coronavirus.gov for current CDC business guidance on planning for and responding to the COVID-19 pandemic

For additional details and guidance, please download the SBA document below.

SBA Federal Contracting Guidance for Small Businesses Impacted by Coronavirus (COVID- 19) 4/1/2020