New COVID-19 Resources Announced

More COVID-19 Relief Announced!
Getting information out to as many people as possible, as quickly as possible.

Today, Truist and LISC announced a $5 million grant program for small businesses and non-profits in response to the COVID-19 pandemic. Applications will be accepted starting the first week of June. Here is an overview below and more information can be found by visiting the links in this e-mail.

Small business support

Grants of up to $10,000 each to small business owners, especially in rural communities and to enterprises owned by women and minorities, to help meet their most immediate needs. Eligible expenses include:
- Rent and utilities
- Payroll
- Outstanding debt to vendors
- Technology infrastructure upgrades
- Other immediate operational costs
Technical assistance to help small businesses weather the current crisis and plan for a sustainable future. This includes tips on how to navigate federal, state and local assistance programs as well as private funding sources, in addition a program to help businesses assess and adapt to a new business environment.

Access to technology and broadband

Cash grants of up to $250 each to households to purchase laptops/tablets, set up and pay for internet, or address other urgent technology needs.
Teams of “digital navigators” to help families maximize internet access, including signing up for subsidies/benefits; basic troubleshooting; and enrolling in computer skills programs.
Grants to nonprofit organizations to upgrade technology infrastructure to deliver services remotely.
Technical assistance to connect areas of density (housing developments, senior centers, etc.) to existing broadband infrastructure and to use satellite service to provide Wi-Fi in rural communities without connectivity

For the small business support, priority will be given to women- and minority-owned businesses, which often lack access to flexible, affordable capital. At least 60% of the grants will support enterprises in rural communities.

For technology and broadband access, strong emphasis will be placed on supporting households and nonprofit organizations located in rural counties with persistent poverty.

More information can be found here https://www.lisc.org/covid-19/small-business-assistance/small-business-relief-grants/truist/

Direct link to application https://lisc.tfaforms.net/38?fbclid=IwAR0D_6rxRrgQTnYU9x6ZSavns3lrmi3c8oSPd0MQOPkDdmPr5S2VlvaBizw

Paycheck Protection Program Loan Forgiveness Application and Instructions

To apply for forgiveness of your Paycheck Protection Program (PPP) loan, the Borrower must complete this application as directed in these instructions, and submit it to your Lender (or the Lender that is servicing your loan). Borrowers may also complete this application electronically through their Lender.

Many may still be spending down the funds, but this is what to expect at the end of the process.

https://content.sba.gov/sites/default/files/2020-05/3245-0407%20SBA%20Form%203508%20PPP%20Forgiveness%20Application.pdf?utm_medium=email&utm_source=govdelivery

COVID-19 Business Resources

This is a compiled list of COVID-19 Business Resources that Advantage Valley deems helpful and that we have shared with local EDA's and businesses, large and small, in the region. We have been receiving and assessing lots of information, trying to keep up with the changing guidelines and hope assistance is reaching folks in need.

Click here for West Virginia Development Office Covid-19 Business Relief Resources

Click here for Truist - NCI Fund Covid-19 Grants

Click here for The Small Business Owner’s Guide to the CARES Act

Click here for Small Business Administration Economic Injury and Disaster Loan Program

Click here for U.S. SBA Payment Protection Program, PPP Fact Sheet, PPP Overview, PPP Application, Lender Finder

Click here for US Chamber of Commerce Foundation's Save Small Business Fund

Click here for Relaunch Toolkit for Restaurants + Bars

HELPING EXISTING BUSINESSES GROW

ATTRACTING NEW INVESTMENT

PROMOTING BUSINESS START UPS

Advantage Valley represents the following WV Counties: Boone, Cabell, Clay, Kanawha, Lincoln, Putnam, Wayne, Jackson, Mason; the following KY Counties: Boyd, Greenup; and the following OH County: Lawrence. This combined metropolitan statistical area represents:

30% of the state’s population
25% of the state’s employed workforce
$25 billion GDP
615,570 population

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Advantage Valley

P. O. Box 1925

Charleston, WV 25327

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