Coronavirus Resources for Businesses
The Jefferson County Development Authority (JCDA) office is open to the public, Monday through Friday, from 9 a.m. to 5 p.m. Due to the Coronavirus (COVID-19), visitors are strongly encouraged to wear a mask and practice social distancing.
You can also reach us in the following ways:
We encourage you to support each other and our local businesses while following the recommendations from the U.S. Centers for Disease Control and Prevention, West Virginia Department of Health and Human Resources, and other authorities.
Paycheck Protection Program (PPP)
As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a new $349 billion Paycheck Protection Program (PPP) has been established. The program will provide much-needed relief to millions of small businesses so they can sustain their businesses and keep their workers employed.
- The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.
- The U.S. Small Business Administration (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.
Who Can Apply
- This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors, and self-employed persons), private non-profit organization, or 501(c)(19) veterans organizations affected by coronavirus/COVID-19.
- Businesses in certain industries may have more than 500 employees if they meet the SBA’s size standardsfor those industries.
- Small businesses in the hospitality and food industry with more than one location could be eligible at the store and location level if the stores employs less than 500 workers, which means each store location could be eligible.
How to Apply
- 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. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with you local lender as to whether it is participating in the program.
- Lenders may begin processing applications as soon as April 3, 2020.
Loan Details and Forgiveness
- 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 percent 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.
- Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.
- This loan has a maturity of two years and an interest rate of 0.5 percent.
- If you wish to begin preparing your application, you can download a sample form to see the information that will be requested from you.
Economic Injury Disaster Loans (EIDL)
As part of the Coronavirus Preparedness and Response Supplemental Appropriations Act, the U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans for working capital to West Virginia small businesses suffering substantial economic injury as a result of the Coronavirus (COVIC-19).
- The SBA Economic Injury Disaster Loan program can provide low-interest loans of up to $2 million to businesses and private non-profit organizations. The maximum unsecured loan amount is $25,000.
- EIDLs may be used to pay fixed debts (such as rent, etc.), payroll, accounts payable, and other bills.
- The interest rate is 3.75 percent for small businesses and 2.75 percent for non-profits.
- EIDLs have long-term repayment options, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based on borrower’s ability to repay.
Who Can Apply
- Small businesses with less than 500 employees
- Sole proprietors with less than 500 employees
- Cooperatives with less than 500 employees
- Agricultural cooperative, aquaculture enterprise, nursery, or producer cooperative with less than 500 employees
- Businesses with more than 500 employees but under SBA Size Standards
- Private non-profit organizations with IRS designation 501(c), (d), or e) or a faith-based organization
How to Apply
- You can apply online, receive additional disaster assistance information, and download applications at https://disasterloan.sba.gov/ela
- You may also call SBA’s Customer Service Center at 800-659-2955 or email firstname.lastname@example.org for more information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call 800-877-8339.
- The deadline to apply for an Economic Injury Disaster Loan is December 21, 2020.
The U.S. Small Business Administration’s West Virginia District Office and the West Virginia Small Business Development Center (SBDC) is hosting trainings on the Economic Injury Disaster Loan program, Economic Injury Disaster Loan Advance, and the Paycheck Protection Program. Due to the high volume of COVID-19 loan relief questions that are being received, it is recommended that you participate in one of the online training sessions to learn more before calling.
Updated schedule coming soon.
- Registration is not required; however, sessions are limited to the first 300 participants.
- If the session is full, please join a session at another time.
- If you have trouble accessing the trainings or website, copy the links and paste them into your browser.
- You may also contact SBA’s Disaster Assistance Center at 800-659-2955 or via email at email@example.com, if you have a question regarding your EIDL application.
Resources for Farmers and Food Producers
The West Virginia Department of Agriculture’s Business Development Division remains available to help farmers, processors and distributors during the COVID-19 pandemic. Our staff quickly adopted teleworking technology and disease prevention practices to minimize the chance of spreading the coronavirus while maintaining our functionality. WVDA COVID-19 Resource Guide for Farmers and Food Producers
Federal Pandemic Unemployment Compensation
The Coronavirus Aid, Relief, and Economic Security (CARES) Act creates a new temporary federal program called Pandemic Unemployment Assistance (PUA). In general, PUA provides up to 39 weeks of unemployment benefits to individuals not eligible for regular unemployment compensation or extended benefits, including those who have exhausted all rights to such benefits. Individuals covered under PUA include the self-employed (e.g. independent contractors, gig economy workers,
and workers for certain religious entities), those seeking part-time employment, individuals lacking sufficient work history, and those who otherwise do not qualify for regular unemployment compensation or extended benefits. PUA Frequently Asked Questions
The Coronavirus Aid, Relief and Economic Security (CARES) Act provides a $600.00 weekly supplement to the weekly unemployment compensation benefits paid to all eligible claimants. All payable weeks of benefits, starting with the week beginning March 29, 2020, and ending April 4, 2020 will include the additional $600.00. If you claimed and were paid for benefit week ending April 4, 2020, you will receive a lump sum payment to bring your account up to date. Thereafter, the additional $600.00 per week will be incorporated into your weekly benefit payments. The additional $600.00 per week is payable for benefit weeks ending on or before July 31, 2020, which is the benefit week ending July 25, 2020.
WorkForce WV is able to:
- Waive the one-week waiting period for eligible West Virginians to receive unemployment benefits
- Waive the able and available work requirement
- Waive the work search requirement
- Unemployment benefits will be available to eligible individuals who are requested by a medical professional, local health authority or employer to be isolated or quarantined as a consequence of COVID-19, even if they are not actually diagnosed.
- Independent contractors are eligible for unemployment assistance under the CARES Act and extends benefits to the self-employed, 1099-independent contractors, gig, and low-wage workers who can no longer work because of temporary business closure as to slow the spread of COVID-19.
How to Apply
- To file for unemployment benefits, go to workforcewv.org. Those who do not have internet access, have a disability requiring assistive technology or need further assistance should call 1-800-252-5627.
- Due to an influx in website traffic, in response to the COVID-19 outbreak, WorkForce WV’s systems are experiencing intermittent disruptions and temporary outages. We apologize for any inconvenience this may cause and are working diligently to resolve the problems. Workforce WV is committed to providing excellent service to each person attempting to access our systems or file an unemployment claim. During this difficult time, we ask you remain patient as we work to resolve these issues.
COVID-19 Business Relief Directory
To assist those affected by economic disruption created by the Coronavirus, the West Virginia Department of Commerce has compiled a COVID-19 Business Relief Directory. This directory has information about state and federal resources available to businesses and includes topics such as Small Business Administration loans, Department of Labor standards, unemployment benefits, and tax deadlines. The directory will be updated as new state and federal resources are made available.
Here’s some links to information about COVID-19 that you may find helpful:
- West Virginia Department of Health and Human Resources
- Centers for Disease Control and Prevention – Resources for Businesses and Employers
- U.S. Small Business Administration – Assistance for Small Businesses Impacted by Coronavirus (COVID-19)
- West Virginia Small Business Development Center – COVID-19 Small Business Resources