Small Business Resource Guide
(UPDATED: January 2021) My staff and I have assembled this guide to help small businesses and nonprofit organizations understand the options available to them and decide on a course of action. But we know this will be a difficult process for many small businesses and we want to be a resource. Members of my staff are also prepared to assist you with applications, questions, and other urgent needs. If we can’t help or answer your question, we’ll quickly connect you with someone who can.
Contact my nearest office here. We’re also making our small business staff available for you to email directly: SmallBizResponseTeam@mail.house.gov. In most cases, we will respond within 24 hours.
Updates on PPP and other programs
At the end of last year, Congress authorized additional funds for the Paycheck Protection Program and made important changes to the small business relief program. Starting January 19th, SBA will accept applications via all participating PPP lenders.
Resources for updated PPP:
Overview of PPP First Draw Loans for businesses with no prior PPP loans
Overview of PPP Second Draw Loans for qualified businesses seeking a second PPP loan
In the coming weeks, the SBA is also expected to open an application window for:
What if I’m self-employed and SBA programs don’t work for me? Can I file for unemployment?
The Maine Department of Labor administers the Unemployment Compensation program, which has been expanded to include self employed people and provides additional funding for a limited time period. Please check the Maine Department of Labor website for updated information.
Other small business relief programs that can help:
The EIDL program is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue due to coronavirus (COVID-19). The program provides low-rate, long-term loans that can be used for things like working capital and normal operating expenses. More information on this program is available here.
A refundable payroll tax credit is available for qualifying small businesses that retain their employees during the COVID-19 crisis. More information is available here.
For small businesses that already had an SBA loan (specifically a 7(a), 504, or microloan) prior to March 27th, 2020, the SBA will pay all loan costs for borrowers, including principal, interest, and fees, for three months beginning in February 2021 (in addition to any payments made by SBA in 2020). Certain borrowers will further qualify for an additional five months of covered costs. SBA will also cover principal and interest payments for six months for new loans approved in the February 1st, 2021 – September 30, 2021 window . More information on this program is available here.
There will not be a new application window for EIDL Advance grants, nor will anyone become newly eligible for this program. SBA will contact prior EIDL Advance applicants only who received less than $10,000 or who were unable to receive any grant due to a lack of program funding. Prior applicants may qualify for additional funds if they are located in a low-income area and experienced more than a 30 percent reduction in revenue. There is no need to contact SBA about this, as the agency will proactively ask potentially qualifying prior applicants for documentation to demonstrate whether they qualify for this additional grant.
Relief for Small Business Government Contractors
If you are a government contractor, there are a number of ways that Congress has provided relief and protection for your business. Agencies will be able to modify terms and conditions of a contract and to reimburse contractors at a billing rate of up to 40 hours per week of any paid leave, including sick leave. The contractors eligible are those whose employees or subcontractors cannot perform work on site and cannot telework due to federal facilities closing because of COVID-19. If you need additional assistance, please reach out to your local Small Business Development Center, Women’s Business Center, SCORE chapter, or SBA District Office. You should also work with your agency’s contracting officer, as well as the agency’s Office of Small and Disadvantaged Business Utilization (OSDBU).