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Business Support Services and Financial Resources

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National Efforts and Resources

Paycheck Protection Program   More FAQs: Here’s How To Get A Small Business Loan Under The $349 Billion Aid Bill  

Federal Stimulus Package

HUD Community Development Fund (CDBG) - $5 billion in supplemental funding

  • $2 billion distributed according to the 2020 allocation formulas within 30 days.
  • $1 billion distributed to states to combat the spread of COVID-19 within 45 days, in amounts determined by HUD based on best available data and need.
  • $2 billion distributed to states based on a formula determined by the HUD using best available data on COVID-19 and associated economic and housing disruptions.

Federal Emergency Management Agency (FEMA) - $45.4 billion for response and recovery, including $400 million for grants for Fire & Rescue, emergency management, along with food and shelter providers.

National Endowment for the Arts & Humanities (NEA) $150 million used to assist state arts and humanities agencies and partners.

  • $75 million for the National Endowment for the Arts.
  • $75 million for the National Endowment for the Humanities.

Minority Business Development Agency - $10 million in grant funding to support technical assistance to development centers and chambers of commerce for counseling available COVID-19 related resources.

Small Business Administration (SBA) - $716 billion for funding and significant program adjustments to help small businesses weather and survive the crisis.

  • $349 billion for loan guarantees.
  • $240 million for small business development centers and women’s business centers for technical assistance for businesses.
  • $10 billion for emergency Economic Injury Disaster Loan (EIDL) grants.
  • $17 billion for loan subsidies.
  • $100 billion for secondary market guarantee sales. Creation of the Paycheck Protection Program (PPP)
  • Helps small businesses, 501(c)(3), 501(c)(19), and 31(b)(2)(c)
  • Limited to under 500 employees
  • Includes independent contractors, sole proprietors and the self-employed
  • Maximum loan amount of $10 million through 12/31/20
  • Eligible expenses include payroll, insurance, rent, mortgage and utilities
  • The funds will be used to retain workers
  • Waives borrower and lender fees, credit elsewhere requirements, collateral and personal guarantees, sets maximum interest rate of 4%
  • No prepayment fees and defers payments on PPP loan for 6-12 months
  • Authorizes bank and non-bank lenders to participate in PPP program
  • Allows inclusion of additional money paid to tipped workers
  • Anything not forgiven or repaid by 12/31/20 will convert to a max 10-year loan at a max 4% interest rate; loan will remain 100% guaranteed.


State Efforts and Resources

Economic Injury Loan Disaster (EILD) Webinars - The Richmond district office of the Small Business Administration is hosting Economic Injury Loan Disaster (EILD) Webinars for Small Businesses beginning April 1, 2020. Please click here to register for a webinar. 

Economic Injury Disaster Loan (EIDL) -  loan program for small businesses and non-profit organizations. Apply for a loan of up to $2 million from the Small Business Administration (SBA) to pay fixed debts, payroll, accounts payable, and other expenses.

Regional workforce teams - activated to support employers that slow or cease operations. Those employers are not penalized for an increase in workers requesting unemployment benefits.

Workforce Innovation and Opportunity Act - for employers eligible to remain open during the COVID-19 emergency.  This funding source can be used to clean facilities and support emergency needs.

Virginia ABC - waiving regulations to allow restaurants to deliver beer and wine via take-out and delivery. 

Virginia Chamber - supporting Virginia’s workforce with resources and enforcing strategies to protect workers while continuing operations.

Restore Your Economy - providing information and resources related to COVID-19 and its economic impacts. A resource for economic development organizations and partner organizations.

Virginia Economic Development Association - providing news, resources, and COVID-19 forums for economic development offices and businesses across the state of Virginia.


Local Efforts and Resources 

SAW Task Force Offering Free PPE Kits (includes masks, gloves, hand sanitizer, disinfectant, printed signs, and how to open guide) On A First-Come, First Served Basis To 200 Businesses and Nonprofits

SAW MSA Recovery Task Force Formed



 Staunton Creative Community Fund (SCCF)

          Offering loans to small businesses through a disaster relief fund.

  • Receive up to $5,000 at 2% – 3% interest
  • Repayment terms vary based on the borrower
  • First 3 to 6 months of payments are interest only

Entrepreneurs Unite Remotely - learn, network, and brainstorm with local entrepreneurs virtually on Thursday, April 2, 6 - 8 pm. 

Community Foundation - established a COVID-19 Local Response Fund with an initial charitable contribution of $100,000. The new fund will provide resources directly to charitable organizations supporting the residents impacted by the economic consequences of COVID-19.

Shenandoah Valley Workforce Development Board - assisting employers eligible to remain open during COVID-19 with funding for small businesses. Learn more about this grant program.

Shenandoah Valley Small Business Development Center - available to help small businesses, sole proprietors and eligible non-profits apply for the SBA’s Economic Injury Disaster Loan (EIDL). Funds come directly from the U.S. Treasury and not through a bank.

Augusta Regional Chamber of Commerce - list of resources for navigating your business during COVID-19. The Chamber is also conducting webinars. Visit their Calendar of Events for a list of upcoming programs.

Valley Strong - an online business directory for local businesses. Businesses can add their information to the website, ValleyStrong.com which is being promoted by the Harrisonburg Radio Group.

CSPDC- Resiliency Digest - providing resources for families and businesses to help plan and prepare for COVID-19.

Staunton Downtown Development Association -  offering a comprehensive list, updated daily, of Staunton area business hours, services, and other information.

Augusta Health - daily update from Augusta Health experts, calls received, donations needed, and other information related to COVID-19.