Business Assistance

Many businesses are being impacted by the COVID-19 pandemic. The bipartisan CARES Act offers relief through new large funding streams to help bridge our businesses through this health crisis.

Senator Manchin has prepared fact sheets on business tax benefits and Small Business Administration loans that have been made available to businesses through the CARES Act.

Small Business Administration

CARES Act SBA Loans One-Pager (PDF)  

SBA Paycheck Protection Program (PPP) Loans

The U.S. Small Business Administration has re-opened the Paycheck Protection Program (PPP) loan portal to all participating PPP lenders to submit First and Second Draw loan applications to SBA.

First Draw PPP Loans are for those borrowers who have not received a PPP loan before August 8, 2020. Second Draw PPP Loans are for eligible small businesses with 300 employees or less, that previously received a First Draw PPP Loan and will use or have used the full amount only for authorized uses, and that can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020. The maximum amount of a Second Draw PPP loan is $2 million.

SBA is accepting PPP applications through May 31, 2021.

To find a list of participating lenders please visit the SBA Lender Match website here.

For more information please visit the SBA’s Paycheck Protection Program homepage here.

SBA Economic Injury Disaster Loans Program

** NOTE: As of June 15, 2020, SBA is once again accepting EIDL applications from eligible applicants**

West Virginia small businesses (according to SBA’s size standards) and most private non-profits with substantial economic injury due to COVID-19 can now apply for LOANS of up to $2 million.

What's an EIDL?

  • The SBA EIDL program can provide low-interest loans of up to $2M to businesses and private non-profits.
  • EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills. 
  • The interest rate is 3.75% for small businesses and non-profits is 2.75%.
  • 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.

How do I apply?

Still need help?  Call the SBA's Disaster Customer Service Center at 800-659-2955 or email disastercustomerservice@sba.gov. 

PDF Application forms can be found by clicking below:

Economic Injury Disaster Loan Supporting Information (Phase 1) P 019

Instructions IRS Form 4506T - Disaster

Request for Transcript of Tax Return (IRS 4506T) (002)

SBA Form 5 - Disaster Business Loan Application

SBA Form 5C - Sole Prop Application

SBA Form 413 D - Personal Financial Statement

SBA Form 1368 - Monthly Sales Figures

SBA Form 2202 - Schedule Of Liabilities

Schedule of Liabilities Instructions

A West Virginia specific Fact Sheet on the SBA’s EIDL program can be found here.

Training

The U.S. Small Business Administration's West Virginia District Office and the West Virginia Small Business Development Center will hold electronic trainings on the Economic Injury Disaster Loan (EIDL) program.

Trainings will be held on a regular basis. Registration is not required however sessions are limited to the first 100 participants. If the session is full please join a session at another time. 

To learn more about upcoming training opportunities, click here: https://www.sba.gov/offices/district/wv/clarksburg/resources/west-virginia-small-business-training-opportunities

EIDL Loans for Agricultural Businesses

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories were able to apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. This loan advance will not have to be repaid. 

SBA has resumed processing EIDL applications that were submitted before the portal stopped accepting new applications on April 15 and will be processing these applications on a first-come, first-served basis. SBA will begin accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications on a limited basis only to provide relief to U.S. agricultural businesses.

The new eligibility is made possible as a result of the latest round of funds appropriated by Congress in response to the COVID-19 pandemic.

  • Agricultural businesses includes those businesses engaged in the production of food and fiber, ranching, and raising of livestock, aquaculture, and all other farming and agricultural related industries (as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)).
  • SBA is encouraging all eligible agricultural businesses with 500 or fewer employees wishing to apply to begin preparing their business financial information needed for their application.

At this time, only agricultural business applications will be accepted due to limitations in funding availability and the unprecedented submission of applications already received. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis. For agricultural businesses that submitted an EIDL application through the streamlined application portal prior to the legislative change, SBA will process these applications without the need for re-applying.

Eligible agricultural businesses may apply for the Loan Advance here.

SBA Emergency Economic Injury Grants (Must Apply for SBA EIDL Loans)

These grants provide an emergency advance of up to $10,000 to small businesses and eligible private non-profits harmed by COVID-19 within three days of applying for an SBA Economic Injury Disaster Loan (EIDL). To access the advance, you first apply for an EIDL and then request the advance. THE ADVANCE DOES NOT NEED TO BE REPAID UNDER ANY CIRCUMSTANCE, and may be used to keep employees on the payroll, to pay for sick leave, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent and mortgage payments.

SBA Small Business Debt Relief Program

This program provides immediate relief to small businesses with current non-disaster SBA loans, in particular 7(a), 504, and microloans. SBA will cover all loan payments on these SBA loans, including principal, interest and fees, for six months. This relief will also be available to new borrowers who take out loans within six months of the CARES Act signed into law.

Shuttered Venue Operators Grant (SVOG)

The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act. The program includes over $16 billion in grants to shuttered venues, to be administered by SBA’s Office of Disaster Assistance.

Eligible applicants may qualify for grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees. The application portal can be accessed at https://www.svograntportal.sba.gov/ 

ELIGIBILITY

Eligible entities include:
·        Live venue operators or promoters
·        Theatrical producers
·        Live performing arts organization operators
·        Relevant museum operators, zoos and aquariums who meet specific criteria
·        Motion picture theater operators
·        Talent representatives
·        Each business entity owned by an eligible entity that also meets the eligibility requirements
Venue must have been in operation as of February 29, 2020 to be eligible for SVOG.
 

BENEFITS

Grant amounts will reflect either of the following instances:
·        For an eligible entity in operation on January 1, 2019, grants will be for an amount equal to 45% of their 2019 gross earned revenue OR $10 million, whichever is less.
·        For an eligible entity that began operation after January 1, 2019, grants will be for the average monthly gross earned revenue for each full month you were in operation during 2019 multiplied by six(6) OR $10 million, whichever is less.
·        Venue or promoter who received a PPP loan on or after December 27, 2020, will have the SVOG reduced by the PPP loan amount.

HOW TO APPLY

The U.S. Small Business Administration will reopen the Shuttered Venue Operators Grant application portal on April 26, 2021, at 12:00 p.m. EDT for operators of live venues, live performing arts organizations, museums and movie theatres, as well as live venue promoters, theatrical producers and talent representatives to apply for critical economic relief. Applicants can register today at https://www.svograntportal.sba.gov/ 

MORE INFORMATION

SBA Shuttered Venue Operators Grant: https://www.sba.gov/funding-programs/loans/covid-19-relief-options/shuttered-venue-operators-grant 

SVOG FAQ: https://www.sba.gov/document/support-shuttered-venue-operators-grants-faq 

Restaurant Revitalization Fund (RRF)

** NOTE: As of May 25, 2021, SBA is no longer accepting new RRF applications**

The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.

WHO CAN APPLY

Eligible entities who have experienced pandemic-related revenue loss include:

  • Restaurants
  • Food stands, food trucks, food carts
  • Caterers
  • Bars, saloons, lounges, taverns
  • Snack and nonalcoholic beverage bars
  • Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
  • Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
  • Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
  • Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts)
  • Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
  • Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products

HOW TO APPLY

Apply through SBA's Restaurant Revitalization Fund Portal: https://restaurants.sba.gov/ 

Registration for the Restaurant Revitalization Fund (RRF) will begin Friday, April 30 at 9 a.m. EDT and SBA will begin accepting applications via the application portal on Monday, May 3 at 12 p.m. EDT. The application portal will remain open to any eligible establishment until all funds are exhausted. For more information, read the press release here.

Registration with SAM.gov is not required. DUNS or CAGE identifiers are also not required. If you would like to prepare your application, view the sample application form. You will be able to complete this form online. Please do not submit RRF forms to SBA at this time. Click here to view SBA Form 3172.

Additional documentation required:

  • Verification for Tax Information: IRS Form 4506-T, completed and signed by Applicant. Completion of this form digitally on the SBA platform will satisfy this requirement.
  • Gross Receipts Documentation: Any of the following documents demonstrating gross receipts and, if applicable, eligible expenses
  • Business tax returns (IRS Form 1120 or IRS 1120-S)
  • IRS Forms 1040 Schedule C; IRS Forms 1040 Schedule F
  • For a partnership: partnership's IRS Form 1065 (including K-1s)
  • Bank statements
  • Externally or internally prepared financial statements such as Income Statements or Profit and Loss Statements
  • Point of sale report(s), including IRS Form 1099-K

WHEN TO APPLY

Priority period: Days 1 through 21

  • SBA will accept applications from all eligible applicants, but only process and fund priority group applications. See "Priority groups" below.
  • During this period, SBA will fund applications where the applicant has self-certified that it meets the eligibility requirements for a small business owned by women, veterans, or socially and economically disadvantaged individuals.
  • See "Set asides."

Open to all applicants: Days 22 through funds exhaustion

  • SBA will accept applications from all eligible applicants and process applications in the order in which they are approved by SBA.

SUPPLEMENTAL DOCUMENTS

Restaurant Revitalization Fund Program Guide: https://www.sba.gov/document/support-restaurant-revitalization-funding-program-guide

Restaurant Revitalization Fund Sample Application (SBA Form 3172): https://www.sba.gov/document/sba-form-3172-restaurant-revitalization-funding-application-sample

SBA Restaurant Revitalization Fund one-pager (PDF): https://www.manchin.senate.gov/download/sba-restaurant-revitalization-fund-one-pager 

Internal Revenue Service (IRS)

Paid Sick and Family Leave Tax Credits

Thanks to the American Rescue Plan, immediate tax credits are available through most of 2021 to businesses that offer their employees paid sick and family leave. You could see these credits in your bottom line as soon as your next quarterly filing. These credits make it easy to keep your employees safe and healthy. And, they are good for more than just your business: Offering paid sick and family leave helps fight the virus by helping employees get vaccinated and encouraging sick employees to stay home.
If you...
  • Are a business with under 500 employees
  • Offer paid sick or family leave to your employees through September 30, 2021; and
  • Have employees who take paid leave due to COVID including for illness, quarantine, getting tested or vaccinated, or caregiving
    • Your business may be eligible for tax credits of more than $17,000 per employee who takes sick or family leave from April 1 through September 30,2021. For the 2nd and 3rd quarters of 2021, businesses may take tax credits for wages up to 80 hours of paid sick leave in an amount equal to either:
    (1) the employee's regular wage, capped at $511/day, up to a total of$5,110 if the employee was sick or quarantining, awaiting the results of a COVID test, obtaining or recovering from a vaccine; or (2) two-thirds of the employee's regular wage, capped at $200/day, up to a total of $2,000, if the employee was taking time to care for someone quarantining or to provide care due to COVID-19 school or child care provider closures.
    Employers may receive tax credits for up to twelve weeks of paid family leave provided to employees who are unable to work for any of the reasons listed. Those credits are equal to two-thirds of an employee's regular wages, capped at $200/day up to a total of $12,000. Businesses that pay employees for qualifying leave can take the tax credit against their share of certain payroll taxes. If the amount of the credit exceeds a business's portion of its payroll taxes, then the excess is refunded - paid - directly back to the business. Businesses can file quarterly for this credit through September 30, 2021.
    Your business may also be eligible for additional credits for those who took sick leave earlier in the public health crisis. Beginning April 1, 2020, any businesses with fewer than 500 employees were entitled to a tax credit equal to 100% of emergency paid leave they provided for qualifying reasons related to COVID-19.

    For more information, visit the U.S. Department of the Treasury's coronavirus resource page for small businesses: https://home.treasury.gov/policy-issues/coronavirus/assistance-for-small-businesses 


    U.S. Department of Labor

    The US DOL’s Wage and Hour Division (WHD) recently published additional implementation guidance pursuant to the Families First Coronavirus Response Act (FFCRA). Information for employers can be found here. www.dol.gov/agencies/whd/pandemic/ffcra-employer-paid-leave

    Tax Provisions for Small Businesses

    The CARES ACT include the Employee Retention Credit for Employers Subject to Closure or Experiencing Economic Hardship as a result of the COVID-19 pandemic.

    The tax provision would provide a refundable payroll tax credit for 50 percent of wages paid by eligible employers to certain employees during the COVID-19 crisis. The credit is available to employers, including non-profits, whose operations have been fully or partially suspended as a result of a government order limiting commerce, travel or group meetings. The credit is also provided to employers who have experienced a greater than 50 percent reduction in quarterly receipts, measured on a year-over-year basis.

    Wages of employees who are furloughed or face reduced hours as a result of their employer’s closure or economic hardship are eligible for the credit. For employers with 100 or fewer full-time employees, all employees’ wages are eligible, regardless of whether an employee is furloughed. The credit is provided for wages and compensation, including health benefits, and is provided for the first $10,000 in wages and compensation paid by the employer to an eligible employee. Wages do not include those taken into account for purposes of payroll credits for required paid sick leave or required family leave, nor for wages taken into account for the employer credit for paid family and medical leave.

    THE CREDIT IS NOT AVAIABLE TO EMPLOYER RECEIVING ASSISTANCE THROUGH THE PAYCHECK PROTECTION PROGRAM. THE CREDIT IS PROVIDED THROUGH DECEMBER 31, 2020.

    Delay of Payment of Employer Payroll Taxes

    This provision would allow taxpayers to defer paying the employer portion of certain payroll taxes through the end of 2020, with all 2020 deferred amounts due in two equal installments, one at the end of 2021, and the other at the end of 2022. Payroll taxes that can be deferred include the employer portion of FICA taxes, the employer and employee representative portion of Railroad Retirement taxes, and half of SECA tax liability. Deferral is not provided to employers receiving assistance through the Paycheck Protection Program.

    Other Resources

    Facebook Small Business Grants Program

    As a result of the COVID-19 global outbreak, Facebook has dedicated $100 million towards assisting impacted small businesses. Additional information on this program can be found by visiting www.facebook.com/business/grants.

     

    Other Resource Sites for Business and Industry

    US Small Business Administration www.sba.gov

    US Economic Development Administration www.eda.gov/coronavirus

    USDA Rural Development https://rd.usda.gov/coronavirus

    US Department of Labor www.dol.gov/coronavirus

    U.S. Department of the Treasury: https://home.treasury.gov/policy-issues/coronavirus 

    Internal Revenue Service www.irs.gov/coronavirus

    Appalachian Regional Commission www.arc.gov/coronavirus.asp

    West Virginia Development Office www.westvirginia.gov/covid19

    WV Small Business Development Center www.wvsbdc.com

    U.S. Chamber of Commerce Coronavirus Small Business Guide https://www.chamberofcommerce.org/coronavirus-small-business-guide

    National Consortium of Entrepreneurship Education COVID-19 Video Series for Businesses: https://www.entre-ed.org/covid19

    ** As we receive further information, we will continue to update this page.

    Updated May 25, 2021

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