Bucks County Coronavirus (COVID-19) Resources for Small Business
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Small Business Coronavirus Survival Resources

COVID-19 has brought almost everything in our lives to a grinding halt. It's tough on everyone in some way. Besides our personal lives, we here at Communities Alive are scrambling to figure out how our small business is going to pull through. Events have been canceled, businesses don't want to advertise right now, and sometimes it feels hard to see a light at the end of this seamingly endless tunnel. So we decided we need to attempt to do something about it. Along with some local friends like Larry Glick from The Closet Shop, we have started to compile resources that may help local small businesses like our own. This resource will continue to grow as information becomes available, so please check back. And most importantly, remember that THIS WILL END and we will bounce back. Bruised, yes, but stronger, together. xoxo

Coronavirus Aid, Relief, and Economic Security Act (CARES)

Details are still being defined when it comes to the loans and grants available to small businesses as a result of COVID-19. We have spent hours on webinars to learn more and we are still very confused. At this point, we are providing links to the best information we have found thus far, which are not necessarily from the SBA.

CARES ACT UPDATES 4/27/20

On Thursday April 23rd, 2020, the House passed additional emergency legislation to provide essential funding to replenish the Paycheck Protection Program (PPP), as well provide additional funding for hospitals and testing. The legislation provides:

  • An additional $310 billion in PPP loans
  • $30 billion in guaranteed loans for lenders with less than $10 billion in assets
  • $30 billion in guaranteed loans for lenders with $10 billion to $50 billion in assets
  • Provides an additional $10 billion for Emergency Economic Injury Disaster (EIDL) grants
  • Appropriates an additional $50 billion for the Disaster Loans Program Account

PAYCHECK PROTECTION PROGRAM - A Small Business Administration (SBA) Program

UPDATE 4/10/20 - Well, it's been some fun with this one. We have pretty much been working full-time just trying to understand this program and figure out how to apply. Our only bank account is with a national bank (we won't name names) and they have been not AT ALL helpful in this process. You can't even speak to a person about it. We just wanted to share our wonderful experience so far with Quaint Oak Bank, who was willing to take our application even though we aren't a current customer. They are incredibly knowledgeable and helpful, and you can talk to a real person. This is a HUGE relief for us, so we highly recommend you check them out if you haven't gotten anywhere with your own bank yet. They have locations in Chalfont, Southampton and Allentown. Everything you need to do for this application can be done virtually.

For questions about PPP, we had luck contacting Congressman Fitzpatrick's office by calling 215-579-8102. We also found help through Bucks County SCORE. Nice people!

According to the SBA, here is a brief summary of the program:

"The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. The Paycheck Protection Program will be available through June 30, 2020."

"You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating."

"The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees."

"This loan has a maturity of 2 years and an interest rate of .5%. Lenders may begin processing loan applications as soon as April 3, 2020."

Additional details about this program are provided on the following links:
Paycheck Protection Program from the SBA
Quick Factsheet
Sample Paycheck Protection Program Application from the SBA
Detailed Summary of the Program from the Economic Integration Group

How to Calculate Your Paycheck Protection Program Loan Amount

This is not as simple as it seems. Here is a link to the US Chamber of Commerce guide that will walk you through the loan amount calculation. CLICK HERE

ECONOMIC INJURY DISTASTER LOAN & LOAN ADVANCE- A Small Business Administration Program

According to the SBA, here is a brief summary of the program:

"In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA's Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid."

General Information about Disaster Loan Applications
COVID-19 Economic Injury Disaster Loan Application

OTHER ASSISTANCE

COVID-19 RECOVERY RESOURCES FOR THE TOURISM & HOSPITALITY INDUSTRY. Summarized by Visit Bucks County

RESTAURANTS: There are several funds for restaurants currently available - click here for list. Yelp is offering free programs for restaurants and nightlife businesses.

Facebook Small Business Grants - Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses.

WAYS TO SAFELY SUPPORT RESTAURANTS, SHOPS & MORE

LIST OF EATERYS, SHOPS & MORE offering pick-up service, delivery service and on-line ordering in Bucks County. Summarized by Visit Bucks County

REVIEW YOUR DIGITAL PRESENCE

We at Communities Alive also own Mikula Web Solutions, so we're putting that hat on for this section since it's something we ourselves can offer to the community as a resource. Now is the perfect time to take a look at your digital presence. We are usually way too busy with our daily business tasks to stop and review how we appear on the web. Here are some things you can do right now.

YOUR WEBSITE
When is the last time you updated the copy on your website? This is the perfect time to sit down and audit your content. Make sure your copy is clear, concise and free of grammatical or spelling errors. Make sure your most important information is at the top, since users are always in a hurry and won't necessarily read through the whole page. Make sure you are using relevant keywords throughout your copy to encourage good organic search engine ranking. Do you show testimonials on your website? If so, make sure you have your latest ones there as well.

GOOGLE MY BUSINESS
Google My Business is a separate listing mechanism in Google search results created specifically for local businesses. It allows business owners to control how their business appears on Google maps and also in organic search results (the "box" that appears on the right side of the page). This can be a hugely powerful tool for optimizing your search engine presence so it's worth taking the time to take control of it. PLEASE NOTE, however, that Google is currently experiencing delays in updating customers' Google My Business listing info. You can still log in and make changes, but all changes are subject to review. Normally, they are reviewed within a couple of days. Currently, everything is on hold. You should still use this time to update your listing so that it's ready once Google catches up. Click here for Google My Business instructions.

OTHER ENGINES & DIRECTORIES
Even though Google is indeed king, there are other engines and directories that you should consider adding yourself too. There are also A LOT that you shouldn't waste your time with. This is also industry-specific. If you see your competitors in a particular directory that comes up a lot in searches for your industry, consider adding yourself there. Angie's List is the perfect example for contractors. Here are a few of the more important ones.

Bing - Similar to Google My Business, you should set up a Bing account through their Bing Places for Business section. Even though they pale in comparison to Google's usage, they are still the default browser for Internet Explorer and Edge.

Yelp - If you are a local business, you should be on Yelp, one of the top review sites. They offer simple step-by-step instructions for setting up your listing.

Yellow Pages - Yep, they still exist and not in the big yellow book format. Their directory is actually quite relevant to search engines. They offer a free listing with a paid option that will push you to the top of their list in your category. Our opinion is that a paid listing is not worth it with YP. It would make more sense to put that money into ways to get your own website listing higher in the engines, versus in YP. A WORD OF CAUTION - once you sign up for a free listing, YP sales reps WILL harass you about upgrading to their paid listing. Hey - their trying to stay in business just like the rest of us...

SOCIAL MEDIA
Here's something some of us BARELY have time for when we're in our usual routine. If you have some extra time, use the opportunity to establish or update your social media accounts. At this time of crisis for us all, don't be posting sales-pitchy messages. This is a time of sensitivity. Post thoughtful sentiments and positive thoughts for your viewers.

REVIEWS
Do you ask your customers for reviews? If not, this is a great time to do so since a lot of them are stuck at home and are spending most of their time online. Click here for detailed information about getting online reviews.

 

 



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