Coronavirus Crisis Resources for Small Businesses Impacted by Slowdowns and Shutdowns.
Tuesday, March 17, 2020
The Florida SBDC at Pinellas County Economic Development and the St. Petersburg Greenhouse are working closely with city, county, state and federal officials regarding the availability of disaster resources to recover from economic injury and other impacts as a result of COVID-19.
Federal disaster assistance
The U.S. Small Business Administration (SBA) has activated its Economic Injury Disaster Loan Program. This program provides working capital to small businesses (and some small agricultural cooperatives and most private nonprofit organizations) who have suffered “substantial economic injury” as a result COVID-19. Substantial economic injury means a business has been unable to meet its obligations and to pay its ordinary and necessary operating expenses.
Important note: Currently, the SBA Economic Injury Disaster Loan program is not available to small businesses Florida.. Each state must make a request based on need for this federal loan program. The state of Florida utilizes its Business Damage Assessment Survey to determine the level of impact and need for federal and state disaster assistance. If your business has been impacted by the virus, it is imperative that you complete this important survey.
Business Damage Assessment Survey: Florida Governor Ron DeSantis has announced the activation of the Business Damage Assessment survey to assess the impact of COVID-19 on Florida’s local businesses, including those in Pinellas County. The survey, managed by the Florida Department of Economic Opportunity (DEO), will evaluate businesses affected by COVID-19 and the impacts the virus has had on the local economy so actions to implement economic relief programs for businesses can begin.
Why is this important? Actively participating in this survey will provide data on St. Pete’s business economic losses and may prove useful in future relief efforts from the Federal or State government.
What are the next steps? Once the state has enough surveys/evidence of economic impact in Pinellas via this survey, the state and federal governments can move forward with activating the path for SBA Loans and Florida Disaster Bridge Loans for business.
Link to survey - https://floridadisaster.biz/BusinessDamageAssessments
Stay Up to Speed via Greenhouse Special Webpage
In addition, the Greenhouse has a webpage with specific business-related information/resources and assistance. This is constantly being updated, so please bookmark the page for info/navigating resources/etc.
www.stpetegreenhouse.com/prepare
Florida SBDC at PCED stands ready to help you prepare and recover.
As during any disaster, we are here to help your business prepare and recover. Our team can also assist you with developing a preparedness plan and with other measures to safeguard your employees, customers, and ensure the continued operation of your business. Upon the activation of federal and state disaster assistance, our team of disaster specialists can assist you with preparing and submitting your loan application and with other post-disaster challenges. Contact www.pced.org/disaster to learn more.