The Federal and State Governments have initiated a variety of resources, financial assistance and programs to assist individuals and businesses impacted by COVID-19.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was recently enacted into law with $350B in dedicated funds to help small businesses keep workers employed amid the pandemic. Since that time, funds dedicated to the Paycheck Protection Program and the Economic Injury and Disaster Loans have been depleted. Now, the Federal Government has passed additional funding measures, totaling $484B. Implementation is set to begin as early as next week. Specific updates to the extension include:
Key information on the Paycheck Protection Program (PPP)
Act now to apply
Additional resources for businesses are available through the CARES Act
Download a pdf guide from the U.S. Senate to learn more about the below programs.
SBA Economic Injury Disaster Loan Program
Businesses across the nation are experiencing a dip in revenues or other economic impacts (supply chain costs, etc.) caused by the COVID-19 disruption. The Federal Government has authorized the U.S. Small Business Administration to provide low-interest loans directly to small business through a new program titled the Economic Injury Disaster Loans, in order for these companies to stay operational during the crisis. These low-interest loans will help alleviate economic injury for small businesses and can assist companies in staying operational during the crisis.
Businesses can begin applying for disaster loan assistance through the SBA at https://disasterloan.sba.gov/ela.
Questions? Please contact the SBA disaster assistance customer service at 1-800-659-2955 or e-mail firstname.lastname@example.org.
Kansas Department of Commerce Live Chat
To answer any questions related to the U.S. Small Business Administration (SBA) Economic Injury Disaster Loan program, the Kansas Department of Commerce has created a live chat page. The live chat is available Monday-Friday from 9 a.m. - 4 p.m. View online chat webpage.
Community Development Block Grant Program
Expedited process for $6.3 million in Community Development Block Programs
The State of Kansas has streamlined the application process for Community Development Block Programs. These economic development grants to cities or counties are loaned to provide gap financing for private businesses that create or retain permanent jobs. Previously, the review and public notice process took 30 days before loans could be issued. Now, the Department of Commerce can provide certification with 24 hours and communities can issue working capital loans to businesses in as little as two days. Learn more.
Additional funding secured to support community responses
More than $9M in federal funding has been secured for the State’s Community Development Block Grant program to support community responses to the COVID-19 pandemic. The grants, made available to Kansas counties and communities in two categories – economic development and meal programs – will be administered by the Kansas Department of Commerce. The economic development grants will be given to communities to help local businesses and organizations retain low-to-moderate income jobs.