The Currituck Chamber of Commerce seeks to provide access to recommendations, regulations, services and expertise to its members. During the COVID-19 pandemic, this mission remains constant. Prior to acting, members should consult their own professional advisors for information and counsel specific to their individual and unique situations. The opinions, interpretations and recommendations of the Chamber are informational only and should not be relied upon by the recipient as legal or professional advice. The Chamber makes no representations as to the accuracy or reliability of the content contained herein. Users of this information accept any and all risks associated with the use of such information and agree that the Currituck Chamber of Commerce has no liability to user.
WASHINGTON – SBA Administrator Isabella Casillas Guzman today announced key details on application requirements, eligibility, and a program guide for the Restaurant Revitalization Fund (RFF). The restaurant industry has been among the hardest-hit sectors during the economic downturn caused by the COVID-19 pandemic. To help bring jobs back and revive the industry, the American Rescue Plan, signed into law by President Joe Biden, established the $28.6 billion Restaurant Revitalization Fund at the U.S. Small Business Administration (SBA). The SBA will administer the funds to the hardest-hit small restaurants.
“Today, we are starting the process to help restaurants and bars across the country devastated by the pandemic, and this is our message: Help is here. With the launch of the Restaurant Revitalization Fund, we’re prioritizing funding to the hardest-hit small businesses – irreplaceable gathering places in our neighborhoods and communities that need a lifeline now to get back on their feet,” said SBA Administrator Isabella Casillas Guzman. “And, thanks to clear directives from Congress, we’re rolling out this program to make sure that these businesses can meet payroll, purchase supplies, and get what they need in place to transition to today’s COVID-restricted marketplace.”
Administrator Guzman emphasized, “We’re also focused on ensuring that the RRF program’s application process is streamlined and free of burdensome, bureaucratic hurdles – while still maintaining robust oversight. Under my leadership, the SBA aims to be as entrepreneurial as the entrepreneurs we serve – and that means meeting every small business where they are, and giving them the support they need to recover, rebuild and thrive.”
Ahead of the application launch and over the next two weeks, the SBA will establish a seven-day pilot period for the RRF application portal and conduct extensive outreach and training. The pilot period will be used to address technical issues ahead of the public launch. Participants in this pilot will be randomly selected from existing PPP borrowers in priority groups for RRF and will not receive funds until the application portal is open to the public.
Following the pilot, the application portal will be opened to the public. The official application launch date will be announced at a later date. For the first 21 days that the program is open, the SBA will prioritize reviewing applications from small businesses owned by women, veterans, and socially and economically disadvantaged individuals. Following the 21-day period, all eligible applicants are encouraged to submit applications.
The groundwork for this announcement is the result of a comprehensive effort to reach out to diverse stakeholders in order to understand the needs and barriers restaurants face in accessing emergency relief aid.
“Local restaurants and bars are being served very good news today,” said Erika Polmar, Executive Director of the Independent Restaurant Coalition. “These guidelines were crafted by the SBA after conversations with independent restaurant and bar operators across the country. We are grateful to the SBA for their hard work to make this process as accessible as possible in a short period of time. It is clear the SBA and the Biden Administration care deeply about ensuring businesses struggling the most can quickly and effectively use this relief program, and we look forward to continued conversations and collaboration to ensure this fund works as intended for the independent restaurant and bar community.”
Community business leaders from underserved communities also welcomed RRF assistance as much-needed economic relief and are working with their broad membership bases to navigate the grant application process.
“In addition to historically having less operating liquidity and revenue than almost any other small business demographic, Black-owned restaurants received significantly less stimulus funding during the COVID-19 pandemic, heightening challenges and leading to disproportionate closures,” said Ron Busby, Sr., president and CEO, U.S. Black Chambers, Inc. “The USBC believes this initiative and collaboration with the SBA will bring needed resources and relief to these often underserved businesses to aid in stabilization, recovery and ultimately, strengthen our economy.”
In addition to restaurant groups and leading advocacy groups for underserved business communities, the SBA has engaged national and state trade associations, and other small business stakeholders in recent weeks to understand their concerns about relief programs.
“Small and independent craft breweries are vibrant community gathering places that can be found in nearly every congressional district in the U.S. and contribute to manufacturing, hospitality, retail, tourism, and agricultural industries,” said Bob Pease, president and CEO, Brewers Association. “We are pleased to work with the SBA to promote the Restaurant Revitalization Fund landing page and its available resources, and assist the breweries hit hardest by COVID-19 secure much needed additional relief to help them survive the pandemic and prepare for the restart of the economy.”
At all levels, the SBA will continue engaging with stakeholder communities to inform and design delivery of financial assistance programs. As the SBA builds and prepares to roll out the program, this dedicated SBA website is the best source for up-to-date information for eligible restaurants interested in the RRF.
Link to MURR Program details:
Link to Rural Relief Small Business Grants
Governor Roy Cooper and North Carolina Department of Health and Human Services Secretary Dr. Mandy Cohen today announced that North Carolina will remain in Safer at Home Phase 2 for three more weeks. Cooper also announced that face coverings must be worn when people are in public places as officials seek to stabilize concerning trends of increasing viral spread.
Cooper and Cohen were joined by Dennis Taylor, President of the North Carolina Nurses Association and Eugene A. Woods, President and CEO of Atrium Health.
“North Carolina is relying on the data and the science to lift restrictions responsibly, and right now our increasing numbers show we need to hit the pause button while we work to stabilize our trends,” said Governor Cooper. “We need to all work together so we can protect our families and neighbors, restore our economy, and get people back to work and our children back to school.”
“I know North Carolinians are strong, resilient and care deeply about our communities. We pride ourselves on helping our neighbors. The best way we can do that now is by taking the simple action of wearing a face covering that covers your nose and mouth. If we each do our part, we can get back to the people and places we love,” said Dr. Mandy Cohen, NCDHHS Secretary.
Growing evidence shows that cloth face coverings, when worn consistently, can decrease the spread of COVID-19, especially among people who are not yet showing symptoms of the virus. Until now, face coverings had been strongly recommended. Under today’s executive order, people must wear face coverings when in public places where physical distancing is not possible.
In addition, certain businesses must have employees and customers wear face coverings, including retail businesses, restaurants, personal care and grooming; employees of child care centers and camps; state government agencies under the Governor’s Cabinet; workers and riders of transportation; and workers in construction/trades, manufacturing, agriculture, meat processing and healthcare and long-term care settings.
“Wearing a face covering is an easy thing to do that can make a huge impact for all of us. A major spike in cases would be catastrophic to the system, and without your cooperation, nurses and our fellow healthcare providers will have a harder time caring for sick patients for weeks and months to come,” said Dennis Taylor, a nurse, and President of the North Carolina Nurses Association.
“As the leader of the state’s largest health system, I am pro-health and also 100 percent pro-business. In fact, the two are inextricably connected and I’m very proud of the way business leaders and health experts are working together to keep our economy strong,” said Eugene A. Woods, President and CEO of Atrium Health. “Medical science says to reduce the spread of COVID-19 masking works, and my sincere hope is that all the people of North Carolina can join forces to make wearing a mask not something we feel we have to do – but something that we want to do to keep each other, our neighbors, our children and our loved ones healthy and safe”
Based on the metrics laid out in April by Governor Cooper and Secretary Cohen, North Carolina is evaluating a combination of the data from the following categories that shows the indicators moving in the wrong direction, causing officials to implement today’s pause in Phase 2.
Trajectory in COVID-Like Illness (CLI) Surveillance Over 14 Days
Trajectory of Lab-Confirmed Cases Over 14 Days
Trajectory in Percent of Tests Returning Positive Over 14 Days
Trajectory in Hospitalizations Over 14 Days
In addition to these metrics, the state continues building capacity to be able to adequately respond to an increase in virus spread. These areas include:
Personal Protective Equipment
Read Executive Order No. 147 that implements today’s announcement.
Read Frequently Asked Questions about today’s executive Order and mandatory face coverings.
View the slide presentation from today’s briefing.
“We want to thank President Trump for his leadership and commend Leader McConnell, Leader Schumer, Speaker Pelosi, and Leader McCarthy for working on a bipartisan basis to pass this legislation for small businesses participating in the Paycheck Protection Program.
“We also want to express our gratitude to Chairman Rubio, Ranking Member Cardin, Senator Collins, Congressman Roy, Congressman Phillips, and other members of Congress who have helped to create and guide our implementation of this critical program that has provided over 4.5 million small business loans totaling more than $500 billion to ensure that approximately 50 million hardworking Americans stay connected to their jobs.
“This bill will provide businesses with more time and flexibility to keep their employees on the payroll and ensure their continued operations as we safely reopen our country.
“We look forward to getting the American people back to work as quickly as possible.”
SBA, in consultation with Treasury, will promptly issue rules and guidance, a modified borrower application form, and a modified loan forgiveness application implementing these legislative amendments to the PPP. These modifications will implement the following important changes:
Extend the covered period for loan forgiveness from eight weeks after the date of loan disbursement to 24 weeks after the date of loan disbursement, providing substantially greater flexibility for borrowers to qualify for loan forgiveness. Borrowers who have already received PPP loans retain the option to use an eight-week covered period.
· Lower the requirements that 75 percent of a borrower’s loan proceeds must be used for payroll costs and that 75 percent of the loan forgiveness amount must have been spent on payroll costs during the 24-week loan forgiveness covered period to 60 percent for each of these requirements. If a borrower uses less than 60 percent of the loan amount for payroll costs during the forgiveness covered
period, the borrower will continue to be eligible for partial loan forgiveness, subject to at least 60 percent of the loan forgiveness amount having been used for payroll costs.
· Provide a safe harbor from reductions in loan forgiveness based on reductions in full-time equivalent employees for borrowers that are unable to return to the same level of business activity the business was operating at before February 15, 2020, due to compliance with requirements or guidance issued between March 1, 2020 and December 31, 2020 by the Secretary of Health and Human Services, the Director of the Centers for Disease Control and Prevention, or the Occupational Safety and Health Administration, related to worker or customer safety requirements related to COVID–19.
· Provide a safe harbor from reductions in loan forgiveness based on reductions in full-time equivalent employees, to provide protections for borrowers that are both unable to rehire individuals who were employees of the borrower on February 15, 2020, and unable to hire similarly qualified employees for unfilled positions by December 31, 2020.
· Increase to five years the maturity of PPP loans that are approved by SBA (based on the date SBA assigns a loan number) on or after June 5, 2020.
· Extend the deferral period for borrower payments of principal, interest, and fees on PPP loans to the date that SBA remits the borrower’s loan forgiveness amount to the lender (or, if the borrower does not apply for loan forgiveness, 10 months after the end of the borrower’s loan forgiveness covered period).
· In addition, the new rules will confirm that June 30, 2020, remains the last date on which a PPP loan application can be approved.
The Chamber is sharing the links to the guidelines from the NC Department of Health and Human Services for Phase 2 Reopening. Phase 2 begins at 5 p.m. on Friday, May 22, 2020 and remains in place until June 26, 2020, unless changed or canceled.
Link for signs that can be printed and posted in your place of business and on social media.
Know Your Ws (English, Spanish, and Combined).
We wish you a safe and healthy Memorial Day weekend!
Currituck County Commissioner Bob White and President of the Currituck Chamber of Commerce Josh Bass go over business updates for the Phase One Opening given by the NC state governor. Josh gives resources for businesses to use at this time.
On Thursday, May 7, 2020, the Small Business Administration (SBA) conducted a webinar to discuss Small Business Guidance and Loan Resources as part of SBA’s response to the COVID-19 disaster. The webinar focused on the Paycheck Protection Program (PPP) and reviewed eligibility, the application process, loan use, current results, and more. PPP funds are still available, this webinar was intended to provide information to small business owners who have not yet applied for a PPP loan.
Below is a link to the PowerPoint presentation and an updated list of providers.
Thank you for attending the SBA N.C. District: Paycheck Protection Program Overview. Below please find a few resources for assistance with your PPP loan application:
May 7, 2020 – Today’s slide deck:
Below please find a few resources for assistance with your PPP loan application.
Where to apply. Listing of Chamber members who are still providing PPP Loans:
ABNB Federal Credit Union
562 Caratoke Hwy Moyock NC 27958
(757) 523-5300 x 2600
Atlantic Union Bank
100 Moyock Commons Dr Moyock NC 27958
5416 N Croatan Hwy Kitty Hawk NC 27949
Old Point National Bank
740 Eden Way N Chesapeake VA 23320
Please visit your local branch
For information and assistance regarding PPP:
The following SBA backed organizations aid small businesses in the state:
• Small Business Technology and Development Center (SBTDC).
• Women’s Business Centers
North Carolina District Office
Dear Chamber members and friends,
The last few weeks have been challenging, to say the least. We are proud of you for helping our community succeed, from donating meals to essential employees, to sewing face masks, to reaching out to neighbors in need. Our community has demonstrated we truly come together in times of need.
As we move forward, we know you are anxious to reopen your doors. To ensure the safety of our community and to help you navigate this new normal, we have created the Currituck Chamber of Commerce Restart Guide. This comprehensive guidance includes many recommendations developed with guidelines from the CDC and other federal, state, and local agencies.
Though we wish to return to our regular lives, we must take necessary precautions during this time. These guidelines will help you safely serve your customers and accommodate your employees. If you have any questions, please contact the Currituck Chamber of Commerce. We are here to help you.
President, Currituck Chamber of Commerce
This framework is meant to serve as a start to the conversation for returning more employees and businesses to work, rather than serving as a final, prescriptive set of answers or solutions.
Lapse in Appropriations Notice: SBA is unable to accept new applications at this time for the Paycheck Protection Program or the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program (including EIDL Advances) based on available appropriations funding.
EIDL applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis.
Today we received information that high demand for the Economic Injury Disaster Loans (EIDL) has led to important changes limiting the size of the payouts for some small-business owners.
The U.S. Small Business Administration Office announced, in this attached notification we received today, to implement a $1,000 cap per employee on the advance, up to a maximum of $10,000.
Again, we will continue update you as information becomes available.
To locate a Paycheck Protection Program Lender, please Visit: www.SBA.gov/PaycheckProtection.
Information on available resources may be found at www.sba.gov/coronavirus. For more information on these services, please go to www.sba.gov/local-assistance to locate the email address and phone number for the nearest SBA district office and/or SBA’s resource partners.
Here is guidance from DOI on retail space restrictions during COVID 19 EMO limits: Memo 4-10-20 Retail Occupancy Restrictions
The Order is set to become effective on Monday, April 13, 2020 at 5:00 PM.
Congress and the President signed into law Friday, March 27, 2020 a historic $2 trillion stimulus package to aid the American public and help the US Economy battle the harmful spread of Covid-19. As the news changes so quickly, we are working to get you updated information as we gather it.
Below please find links to help you navigate the documents and forms needed to apply for aid.
SBA Lenders Serving North Carolina Small Businesses | The U.S. Small Business Administration | SBA.gov
Coronavirus (COVID-19): Small Business Guidance & Loan Resources https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources
Paycheck Protection Program FAQs for Small Businesses https://www.rubio.senate.gov/public/_cache/files/ac3081f6-14ae-4e6f-9197-172ede28badd/71AB6CB05A08E369E0D488A80B3874A5.faqs—paycheck-protection-program-faqs-for-small-businesses.pdf
SBIA Summary of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
Our local contact in Elizabeth City is Michael Twiddy, Center Director of The NC Small Business & Technology Development Center (SBTDC). The SBTDC provides One-on-One confidential business counseling to business entrepreneurs in North Carolina, at no cost to you. They can assist you by looking at business options provided through the US Small Business Administration (SBA). And can assist in the process to access your business’s current condition and projected impact from COVID-19; and help with pulling together your financial information to support you SBA application.
If your business is in the Moyock and Central Currituck area contact:
SBTDC Regional Center Director at ECSU
For assistance in Lower Currituck and the Corolla areas contact:
SBTDC Regional Center Assistant Director
We will continue to share more guidance and information as soon as it becomes available.
Currituck Chamber of Commerce
View the National Small Business Town Hall Presented by Inc. and the U.S. Chamber of Commerce https://www.uschamber.com/co/events/national-small-business-town-hall-inc-us-chamber