COVID-19 Business Bulletin: 4/3/20

COVID-19 Bulletin 4/3/20

The Buffalo Niagara Partnership is committed to providing employers with the latest information and resources to help you deal with COVID-19 and its impact on our community, state and nation.  You can also visit our resource page – it is being regularly updated to provide you the most up-to-date information.

UPDATE: Paycheck Protection Program (PPP) is NOW OPEN TODAY and Accepting Applications

Paycheck Protection Program

  • About: PPP is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.
  • Bonus PPP Resource: Helpful breakdown (guide/FAQ/checklist) provided by the US Chamber of Commerce to assist businesses in navigating the program.
 
Summary of Additional Available Aid Packages: 

Small Business Association

  • Economic Injury Disaster Loan (EIDL) Emergency Advance
    • About: This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties.
  • SBA Express Bridge Loans
    • About: Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
  • SBA Debt Relief
    • About: Provides a financial reprieve to small businesses during the COVID-19 pandemic.
Local Initiative Support Corp. (LISC)
  • Verizon-LISC COVID-19 Recovery Fund
    • About: Provides grants to help small businesses fill urgent financial gaps until they can resume normal operations or until other more permanent financing becomes available.
National Restaurant Association
  • Restaurant Employee Relief Fund
    • About: Provides grants to restaurant industry employees who have been adversely impacted by COVID-19 whether through a decrease in wages or loss of employment.

As the regional chamber of commerce, the Buffalo Niagara Partnership is committed to providing employers with the latest information and resources to help you deal with COVID-19 and its impact on business, our community, state and nation.  We will continue to follow up as more information becomes available.

Given the fluidity of this situation, please feel free to reach out to us with questions at connect@thepartnership.org and even more importantly, if you are willing to share best practices