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Mechanics of the Families First Coronavirus Bill 


Overview of Emergency Funding being offered by the SBA to COVID-19 Affected businesses:


  • All eligible small businesses can receive $2 mm in a term / revolving loan for working capital where its demonstrated cash flow has been interrupted by what is happening in the economy now.

  • Facilities are priced at 3% to 3.25%.

  • Doesn't require any personal guarantees.

  • Will be secured and impact inter-creditor dynamics.


Step by Step Instructions on Applying for Funding:


  • Go to

  • Click "Apply For A Disaster Loan".

  • Create a login and complete each section as prompted.

  • You will be applying for Economic Injury (EIDL).

  • You will be required to describe the extent to which your business is affected.

  • You will need to submit a Schedule of Liabilities - (Notes, Mortgages and Accounts Payable).

  • You will also be required to submit a Form 4506-T - Request for Transcript of Tax Return.

  • This is a one-pager for the company, not personal resources.


Review the SBA site for 7a loans


The COVID Capital Relief Dashboard

Freewill Guide to Forgivable Loans Under Cares Act 

Insights from and for the VC and Startup Communities

CARES Act guidance from NVCA for venture-backed companies 


Overview of SBA Disaster Loans from COVID-19 Stimulus Package:

  • Loan Amount Limit: Up to $2,000,000 limited to the economic injury determined by SBA, less recoveries from insurance and other sources.

  • Use of Proceeds: These loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact.

  • Credit Requirements: Applicants must have a credit history acceptable to SBA and show the ability to repay debt.

  • Interest Rates: The interest rate is determined by formulas set by law and is fixed for the life of the loan.  The maximum interest rate for this program is 3.750 percent.

  • Loan Terms: The law authorizes loan terms up to a maximum of 30 years. SBA will determine an appropriate installment payment based on the financial condition of each borrower, which in turn will determine the loan term. 

  • Loan Eligibility Restrictions: Applicants who have not complied with the terms of previous SBA loans may not be eligible.

  • Refinancing: Economic injury disaster loans cannot be used to refinance long term debts.

  • Apply online:

  • 3 Step Process:


SBA 7(a) Loans:

  • Standard Loan: Up to $5,000,000

Before You Apply for a Loan:


As part of your loan application you are required to include the Tax Information Authorization (IRS Form 8821).  It needs to be completed and signed by each applicant, each principal owning 20% or more of the applicant business, each general partner or managing member.  Below for your reference are EIN numbers for Edison funds.  Edison Partners may also need to complete the Tax Information Authorization. 


US Chamber of Commerce: Coronavirus Emergency Loans Small Business Guide & Checklist


UBS: Coronavirus Relief Resources for US Business Owners (Mar 30) 


Forbes List of available national and local resources (in VFA cities and other markets)


Compilation of resources from disabled, queer, elderly, Asian, and indigenous people: Corona Virus Resource Kit 


US based resource for people looking out for themselves and their communities through personal preparation, collective care, mutual aid, and advocacy: COVID-19 Collective Care 


Pepper Law COVID-19 Resources


Hello Alice resource center: COVID-19 


America’s Small Business Resources Center resources from the federal government and private industry to stay safe online


Check out Operation Hope, providing virtual support for Individuals and small businesses Affected by COVID-19 in many of our cities.


Resources for Entrepreneurs from Endeavor

Decreasing Employer Liability During COVID-19

Facebook Small Business Grants Program


Regional Resources in VFA Cities


Birmingham Based Resources:

Birmingham Bound

Birmingham Strong 


Florida-Based Resources:

Bridge loan information
Capital Good Fund (also applicable in Delaware and Rhode Island)


Michigan Based Resources:

Venture Catalyst’s COVID-19 Ecosystem Resources, detailing funding opportunities (including requirements, process and eligibility), and specifics on local, state and federal resources startup and growth companies can leverage at this time. There are also sections for companies hiring during COVID and entrepreneur support resources. 


State of Michigan’s Employer & Employee Resources including unemployment fact sheets and state guidance documents:  Coronavirus for Employers and Workers

Startup Space Southeast Michigan Covid-19 Resources, searchable by topics, interest & location. 


MEDC including grant and loan programs: Resources for Businesses


Quicken Loans Family of Businesses details on funding and free support services to businesses: Detroit Small Business & Startup COVID-19 Response Resources 


TechTown: Application and details on emergency funds to businesses, providing working capital grants up to $5,000 for qualifying small businesses: Detroit Small Business Stabilization Fund


Business Leaders for Michigan: business best practice resources like sample response planning documents, employee engagement, and support tools: COVID-19 Business Response Center 


Crain’s Detroit Business COVID-19 Business Relief Resources


Patronicity’s crowdfunding program for small businesses 


TipDetroit is a new website that allows local businesses to identify how people can support them right now (i.e. buy merchandise, gift cards or get carryout!)


TCF’s Small Business Relief Loan Fund - Businesses can apply for $5k-$10k loans with under 2% interest 


Find cash loans or grants on the COVID19 Capital Relief Dashboard  


University of Michigan’s COVID-19 Pandemic Resource Guide, outlining unemployment and worker assistance, food assistance, utility and housing assistance, child care assistance, and more.


Maryland Based Resources

Loans up to $50,000 (not to exceed three months of cash operating expenses) open to Maryland businesses impacted by the COVID-19 with fewer than 50 employees Maryland SBA $175mm Emergency Relief Loan Fund 

Grants up to $10,000 not to exceed 3 months of cash operating expenses for Maryland businesses and nonprofits impacted by the COVID-19 with 50 or fewer employees Maryland SBA $50mm Emergency Relief Grant Fund 

Maryland Small Business Emergency Relief Fund 


Missouri Based Resources:

Missouri Source Link 

St. Louis Regional Chamber

St. Louis Partnership
Gateway Resilience Fund
KC Chamber
KC SourceLink

New Orleans Based Resources:

Hotline for Louisiana businesses, call 225-342-4321 between 8:00AM - 8:00 PM. through Louisiana Economic Development
Greater New Orleans Regional Economic Development


New York Based Resources:

Employee Retention

Small Business Community Fund

Guidance for Businesses: Continuity Loan Program and Employee Retention Grant Program

North Carolina-Based Resources:

Unemployment Resources:

Ohio Based Resources: 

Funding, Capital & Financial Resources 

Apply for SBA Loan Assistance 

Visit the SBA COVID-19 Resource Page 


Pro-Bono Hotline Launch: In light of the tremendous challenges small businesses are facing during the COVID-19 pandemic, KJK is launching a pro-bono free hotline for small businesses across Ohio to help them navigate available financial relief programs and answer related questions. KJK's attorneys will be available at 1-888-4KJKLAW (1-888-455-5529) from 9 a.m. to 7 p.m. this Wednesday, April 1 and Friday, April 3, providing complimentary 20-minute consultations on the CARES Act and the SBA Loan programs businesses can take advantage of. Click here for program details and disclaimers.


Ohio Unemployment Benefits 

ODJFS Info Site 

Claim Form

Pennsylvania-Based Resources:

Eligibility and program details here -


PA Department of Community & Economic Development

Pennsylvania Industrial Development Authority (PIDA) - PA Department of Community & Economic Development

Honeycomb Credit Crowdfunded Business Relief Fund

Philadelphia COVID-19 Small Business Relief Fund

Loans and Technical Assistance through Bridgeway Capital 


Texas Based Resources: 

Resources for Employers:

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