Resources to help Small Business Pivot in Times of Change
Whether we like it or not, the onslaught of COVID-19 has forced us to embrace the new normal of social distancing and remote work. My team and I have put together a list of resources to help you, small business owners, managers grapple and pivot faster while coping with the new normal.
This post is updated every 6 hrs!
If you know of any great finds and wish to contribute, feel free to email [email protected] and we’ll share it. If you find any discrepancies with the content, please alert us. We verify the source of these updates, there’s a lot of misinformation out in cyberspace but the links here site the source. Thank you! We hope you find this resource useful and timely. It is our goal to keep you thriving, even in tough times. Let’s keep each other safe and healthy. – Team AZENCE
Coronavirus Alerts (Happening Now or Soon!)
We all know that these are crazy times that we’re living in. What none of us can seem to figure out is what it all means for us.
Join us for a panel series focused on living life and doing business in the tie of COVID-19. We will have a series of discussions about what this all means to us as professionals and business owners, how we should respond and, most importantly, how we come out of this.
This will be the first panel focused around answering your questions about the public health aspect of COVID-19. Our panelists will answer questions presented by the attendees about how we’re handling this crisis, how do we address these types of things in the future and, of course, is what we’re doing really working?
If you have questions in advance, add them to the Questions section in your registration and we’ll try and get them answered!
Aaron Richman, M.D.
Assistant Professor of Surgery and Critical Care
Boston University and Boston Medical Center
Jennifer Mitkowski, PA-C
Parker Family Care
Remy L. Brim, Ph.D.
Vice President Regulatory Policy and Strategy
BGR Government Affairs, LLC
Moderator: Ian Campbell
**Drive-Thru testing supplies are limited and Hours of Operation are dependent on supplies. Drive-Thru will not be operating in temperatures below 32 degrees. Check Stride Community Health Center often for updates.**
Drive-Thru Testing is OPEN sporadically, dependent on weather and supplies so please check Stride for updates:
STRIDE CHC- Aurora Health & Wellness Plaza
10680 Del Mar Parkway
Aurora, CO 80010
STRIDE CHC- Jeffco Family Health Services Center
7495 W. 29th Avenue
Wheat Ridge, CO 80033
Drive-Thru Hours of Operation:
9 AM – 4 PM – Monday through Friday
9 AM – 1 PM – Saturday (STRIDE CHC- Jeffco Family Health Services Center ONLY)
Drive-Thru testing is available to Hospital Workers, Healthcare Employees, First Responders, and the General Public.
Brief symptom screening criteria will be applied to anyone requesting swab testing through the Drive-Thru.
NO PAYMENT IS DUE AT THE TIME OF TESTING. Insurance information will be collected, if you have insurance.
You must have an ID card for registration. Hopsital Workers and First Responders, please bring work IDs.
If you have insurance, please bring your insurance card.
Individuals without insurance are also welcome.
Brief symptom screening criteria will be applied to anyone requesting swab testing through the Drive-Thru.
Click here for more information about COVID-19 testing, additional testing locations, & receiving care at STRIDE.
For general questions about COVID-19, please call the Colorado 24/7 Help Line at 303-389-1687.
Disaster Relief, Funding & Grants
Small Business Owner’s Guide to the CARES Act
To support more than 30 million small businesses and their employees, the SBA and Treasury Department has established a $349 billion Paycheck Protection Program to provide eight weeks of payroll and business operating expenses to keep fueling the small business engine. Said to be up and running by April 3rd, businesses can go to a participating SBA 7(a) lender, bank, or credit union, apply for a loan, and be approved on the same day. The loans will be forgiven as long as the funds are used to keep employees on the payroll and for certain other expenses.
The new loan program will provide critical capital to businesses without collateral requirements, personal guarantees, or SBA fees – all with a 100% guarantee from SBA. All loan payments will be deferred for six months. Most importantly, the SBA will forgive the portion of the loan proceeds that are used to cover the first eight weeks of payroll costs, rent, utilities, and mortgage interest.
- The new loan program will be available retroactive from Feb. 15, 2020, so employers can rehire their recently laid-off employees through June 30, 2020.
Loan Terms & Conditions
- Eligible businesses: All businesses, including non-profits, Veterans organizations, Tribal concerns, sole proprietorships, self-employed individuals, and independent contractors, with 500 or fewer employees, or no greater than the number of employees set by the SBA as the size standard for certain industries
- Maximum loan amount up to $10 million
- Loan forgiveness if proceeds used for payroll costs and other designated business operating expenses in the 8 weeks following the date of loan origination (due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs)
- All loans under this program will have the following identical features:
- Interest rate of 0.5%
- Maturity of 2 years
- First payment deferred for six months
- 100% guarantee by SBA
- No collateral
- No personal guarantees
- No borrower or lender fees payable to SBA
SBA’s announcement comes on the heels of a series of steps taken by the Agency since the President’s Emergency Declaration to expeditiously provide capital to financially distressed businesses affected by the Coronavirus (COVID-19) pandemic. Since March 17, SBA has taken the following steps:
- Declared all states and territories eligible for Economic Injury Disaster Loan assistance
- 1-year deferment on Economic Injury Disaster Loans provided due to COVID-19
- Automatic deferment of previous disaster loans for homeowners and businesses through 2020
- Waiver of garnishments through 2020
Visit SBA.gov/Coronavirus for more information on SBA’s assistance to small businesses.
Denver: The city’s business owners can apply for cash grants of up to $7,500 as part of Denver Economic Development and Opportunity’s emergency relief program. Denver Mayor Michael Hancock also announced the creation of a $4 million small business relief fund.
To assist Sunderland’s clients to apply for loans via the CARES ACT, Sunderland’s team has spent countless hours over the last several weeks deciphering the new regulations and coming up with ways to assist.Here are the ways to help you through this process:
- Loan Application – Help to analyze your qualified costs and determine your loan amount and complete the application with the required information.
- Work with the bankers to gather, organize, and submit the additional supplemental information they will need to process your loan request.
- Determine the loan amount – Work with clients and the banker to help determine the appropriate amount of the loan and in addition we will help estimate how much of the loan will be forgiven.
- Follow up – As with any government program there will be lots of documentation requests, hoops to jump through, and lots of other unforeseen “To Do’s”.
- Loan Forgiveness – Once the loan is in place, there will be a follow-up reconciliation process to get all or a portion of the loan forgiven. While this process has not yet been identified, the Sunderland team will continue reading, deciphering, and creating a process to get you the maximum benefit.Updated information can be found at Sunderland’s website.Whether you decide to go through this process on your own or if you decide to hire our team to help navigate through this process, please keep in mind that there are still many unknowns for both the loan application process and the loan forgiveness program so do not be deterred and keep moving forward with what we foresee to be a slow and cumbersome process.Over the years The Sunderland Group has developed a network of bankers and we are leaning on them now to help develop our processes to navigate through this loan process and our goal is to help streamline the process and eliminate as many surprises as we can.If you would like to engage our team to help you through this process, please contact us by one of the methods below:
- [email protected]
- 303-440-8750 and let us know you would like help through this process.
Opportunity Fund specializes in money lending to small businesses owned by women, immigrants and people of color, is collaborating with investors and nonprofits to put together a coronavirus relief fund that will provide grants and low-interest rate loans to business owners in need.
Supporting Local Communities
This program is designed to benefit both health care workers and restaurants. The program allows the community to donate meals from local restaurants to be delivered to health care workers on the Boulder Colorado frontlines. It’s a true win-win: health care workers will enjoy nourishing meals, while local restaurants will receive the critical business they need to help keep staff employed. Read the recent Feed the Frontlines Boulder article from the Daily Camera.
The program has already raised $200,000 to kick-start the program at Boulder Community Health thanks to the generosity of seed funding from Brad Feld and Amy Batchelor, John Goldsmith, Dan and Cindy Caruso, and an anonymous local family foundation. The goal is to raise an additional $200,000 from the Boulder community to keep meals flowing from local restaurants to BCH (Boulder Community Hospital) during this critical period.
To help offset millions of dollars in deficit caused by cancellations of the following shows for this non-profit organization:
- five lost shows, 523 educational classes and school programs, 19 rental events and two fundraisers., including our signature gala, Saturday Night Alive.
Denver Center of Performing Arts have made the painful decision to reduce staffing costs by more than 50% through layoffs, unpaid leave, reduced hours and salary cuts.
This is hard. But it is critical. Consider helping them continue our story by donation.
Governor Jared Polis announced that all Colorado restaurants and bars will be required to close beginning at 8 a.m. on Tuesday, March 17; the order extends for the next thirty days. Find an updated list of local restaurants still offering takeout, delivery, or curbside options at Arvada Restaurants Takeout Takeover.
Daily activities may now present a greater challenge for neighbors that fall into the coronavirus high risk category. Nextdoor has come up with the Help Map so that if you’re in that high risk category, you can ask for help. At the same time, if you can help a neighbor, offer your services at Nextdoor Help Map.
Self-Care More Necessary than Ever Before
As we are facing shortages on surgical and N95 respirators so that health care professionals can use for themselves as well as to help with coronavirus patients, we can help by making our own face mask. There’s plenty of YouTube videos you can check out. Some are easier to make than others. Here’s a simple way to make your own face mask. Please note that this is not a substitute for social distancing.
Free Online Training & Courses
More than 50% of small business owners in the U.S. say they will only be able to keep operating for up to three months under the current conditions, according to a new Goldman Sachs survey of more than 1,500 small business owners. And almost all owners (96%) say their businesses have already been impacted by COVID-19.
Fortunately, Congress has passed a $2.2 trillion stimulus bill, and there are ways that you as a business owner can – and should – benefit from it.
KEY FOCUS POINTS:
- SBA-backed Forgivable Loans Up to $10,000,000
- SBA Emergency Grant Up To $10,000
- Withdraw Retirement Penalty-Free Up to $100,000
- SBA Disaster Loans Up To $2,000,000
- Defer Payroll Taxes (Sec 2201) To 2021/2022
- Recovery Rebates $2,400 MFJ/$1,200 Single
- Get Cash For NOLs In ’18, ’19, ’20
- Employee Retention Credit Up To $10,000/employee
- Sick Employee Payroll Tax Credit Up To $2,000/employee/qtr
This webinar will help you make sense of the vast amounts of information around the current business climate and the U.S. Government programs – to help you make smart, strategic decisions about your business. Congress has passed a $2.2 trillion stimulus bill, and there are ways that you as a business owner can – and should – benefit from it. Tyler McBroom, Partner, Global Accounting Advisors & Managing Partner of Measured Results will demystify the complex financial packages the government has put forward and highlight the programs that will be most beneficial to YOU, the small business owner.
Wednesday, April 8, 2020 at 12pm PST / 3pm EST > Register
Easy-to-access SEO education has always been dear to Moz mission’s, and now more than ever, businesses and marketers could use a hand. They’re making the courses in Moz Academy free for the Moz community through May 31. To get started, just take the following steps:
Tools: Health, Tracking & Prevention
The success of Singapore in dealing with Covid-19 can be attributed to the government’s speedy institution of border controls, aggressive testing, but also meticulous tracing of known carriers through technology.
Contact-tracing teams using mobile technology and surveillance cameras tracked down 7 957 contacts of confirmed cases and quarantined them.
The government also launched an app, TraceTogether, which uses Bluetooth to record distance between users and the duration of encounters. People had to give consent to the Health Ministry to use the information, which is encrypted and deleted after 21 days.
The data helps the Health Department to contact users where possible infection by an infected person is suspected.
Tools: Help with working remotely
Your business or organization now has to pivot faster to transition online. Thankfully, there’s a free virtual meeting services such as Zoom that can try out. Limitations to apply for the Free version. If you don’t already have an account, AZENCE is a Zoom Partner. AZENCE can help you sign up to a Zoom account if you’d like. Contact AZENCE about Zoom. Note: Zoom has grown very quickly in the last couple of months. CNN reports that in November 2019, they were at 10M users and now in April 2020, that number has risen to 200M. The CEO of Zoom has admitted to increasing security for it’s platform and our clients have also reported call in issues with Zoom. However, we believe that this is our preferred virtual meeting tool.
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You can chat online, ask questions, and get help from these Apple Business support communities: