The Coronavirus (COVID-19) outbreak is first and foremost a human tragedy. It is having a significant impact on the global and local economy. We have compiled a list of resources to help Kansas City area small businesses navigate through this outbreak. Check back frequently as we will be sharing updates as we receive them.
SBA and Treasury Release Paycheck Protection Program Loan Forgiveness Application On May 15, 2020, the Small Business Administration (SBA), in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application. Click here to view SBA release and link to the application and instructions.
U. S. Department of Labor issues guidance on the Families First Coronavirus Response Act that takes effect on April 1, 2020. For businesses with fewer than 500 employees, the legislation provides funding, via tax credits, for additional paid sick leave and expanded FMLA benefits for employees impacted by COVID-19. (March 25, 2020)
Small Business Administration Economic Injury Disaster Loans - low interest loans for businesses impacted by COVID-19. These loans are administered directly from the SBA.
SBA Express Bridge Loans Pilot Program - allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Loan. If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.
KC Region Small Business Relief + Recovery Fund - low interest microloans for businesses negatively impacted by COVID.
LoanUp Program - Kansas City Economic Development Corporation continues to offer revolving loan funds to small businesses that have previously been turned down by a financial institution. During these challenging times, monthly loan payments are flexible.
Kiva - Kiva has expanded eligibility to more businesses in the U.S. and increased loan size to serve small businesses impacted. Borrowers may now directly request funding and the maximum loan size will increase from $10,000-$15,000. Kiva is a non-profit that expands access to capital to entrepreneurs across the world using a crowdfunding strategy.
KCSourceLink - a website developed by KCSourceLink, a Kansas City network of small business resources, provides frequent updates and access to local resources that can help businesses navigate the outbreak.
Women’s Business Center - provides free telecounseling and email counseling for businesses seeking guidance on helping their businesses throughout the outbreak.
Johnson County (KS) Updates - resources for businesses/employers and sign-up for daily emails from Johnson County.
Small Business Administration Guidance for Businesses and Employers
Centers for Disease Control Guidance for Businesses and Employers
