Congress passes $2 trillion emergency aid package

The third package of emergency assistance related to COVID-19 is currently making its way through Congress, having passed the Senate last night and being expected to pass the House tomorrow. The legislation includes additional emergency loans and tax credits for retaining employees, as well as near-term aid for individuals, small businesses, and some of the most affected industries. While relatively little assistance is directly relevant to science- and innovation-related business development, many broader small business provisions can still be of assistance to these companies. Read more  | 

Resources for small business in dealing with COVID-19

The fallout from COVID-19 is growing as unemployment numbers skyrocket, small businesses are faced with closures, and employers try to protect both their business and employees. A just-released national study conducted by America’s Small Business Development Centers (SBDC) and Thryv Inc., found that 69 percent of U.S. small businesses have already experienced a large drop in demand due to the coronavirus pandemic and 60 percent believe demand will continue to decline. States, too, have seen their budget situations take a dramatic turn and universities have had to send students home. Below you will find some of the resources available to businesses and universities in dealing with COVID-19 pressures, as well as new funding opportunities from federal agencies for those seeking assistance. For more information on how states are responding, several organizations are posting daily updates and are referenced below.

Small business and entrepreneurial services support

• Small Business Administration (SBA) has guidance for businesses, and is offering low-interest Economic Injury Disaster Loans (EIDLs) for businesses and non-profits impacted by coronavirus (COVID-19).
• The FDIC has provided guidance to banking institutions and consumers affected by COVID-19 and encouraged financial institutions to work constructively with borrowers and customers in affected communities.
• The Depart of Labor has issued guidance on the Families First Coronavirus Response Act: Employer Paid Leave Requirements.
• Facebook is offering $100 million in small business grants across 30 countries.
• JPMC is including $8 million in philanthropic grants assist small businesses vulnerable to significant economic hardships in the U.S., China and Europe.
• SBDC has a resource page listing help for small businesses and encourages them to contact their local SBDC for assistance as well.
• The CDC provides interim guidance for businesses and employers to plan and respond to COVID-19.
• The Angel Capital Association is holding a webinar tomorrow on advising portfolio companies ($100 for non-members).
• The U.S. Chamber of Commerce has put together a list of resources for businesses.
• NIST Manufacturing Extension Partnership (MEP) centers are providing services to small- and medium-sized manufacturers such as connecting businesses that are pivoting their production in response to the coronavirus to new supply chains, connecting firms with state resources, advising companies on new operational issues, and providing workforce support.

State responses

• MultiState provides a reference to updates and information issued by state and key local agencies and policymakers that is updated daily. 
• The Tax Foundation provides information on state legislatures’ schedules, adjustments and status of the state’s budget, and the state’s rainy day fund (RDF) balance as a percentage of the prior year’s general fund budget.

Federal resources

• Information from the Treasury Department includes updates to tax payment deadlines, coronavirus-related paid leave assistance, and other steps being taken to combat the disease.
• U.S. Department of Agriculture Rural Development has implemented several measures to help residents and businesses in rural communities affected by COVID-19.
• The COVID-19 High Performance Computing Consortium is bringing together federal, industry, and academic leaders who are volunteering free compute time and resources on their world-class machines for all researchers engaged in COVID-19 research activities.
• The Department of Energy has identified scientific and technical information supporting coronavirus and viral-related research.
• Department of Health and Human Services (including National Institutes of Health and Centers for Disease Control and Prevention) has announced that funds may be available for Administrative Supplements to meet increased costs that are within the scope of the approved award.
• The CDC will make $560 million in emergency funding available.
• The Office of Biomedical Advanced Research and Development Authority has released updates to its broad agency announcement for the Development of Medical Products for Novel Coronavirus.
• NIH has released a Notice of Special Interest regarding the Availability of Urgent Competitive Revisions for Research on the 2019 Novel Coronavirus to highlight the urgent need for research on the 2019 novel Coronavirus.
• The NSF’s coronavirus resource page provides guidance to researchers in the NSF community regarding new application deadlines, information on administrative assistance and supplemental funding, and other funding opportunities dedicated to coronavirus.
• The NSF is accepting proposals to conduct non-medical, non-clinical care research on different aspects of COVID-19.
• The NSF released a Dear Colleague Letter inviting Rapid Response Research proposals and supplemental funding requests to existing awards that address COVID-19 challenges through data and/or software infrastructure development activities.

Click through to read more on each resource.

OMB provides guidance on flexibility for federal grant funding

Just days after the first reported US death from COVID-19, federal grant recipients capable of performing essential research and services related to COVID-19 were provided with additional flexibilities to the terms of their contracts and supplied with additional administrative resources to pivot their efforts towards combatting the virus. As the coronavirus pandemic continues to grow and disrupt all sectors of the economy, the Office of Management and Budget (OMB) has now issued guidance to the heads of all federal grant-making agencies, offering short-term emergency flexibilities and administrative relief. Read more

This week's Staff Picks:

McKinsey: Beyond coronavirus: The path to the next normal
Insights on how organizations can respond to the coronavirus pandemic, and what happens next. Read more

NIST: Telework Security Basics
With many employees now working from home, NIST provides some simple things you can do to improve your security. Read more

Politico: Coronavirus Will Change the World Permanently. Here’s How.
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Education Dive: Moody’s lowers higher ed outlook to negative amid coronavirus crisis
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Inside INdiana Business: Nonprofit Offering Innovation With A Cause Courses
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Washington Post: Major universities suspend most lab research — but not into coronavirus
While a growing number of universities are suspending nonessential research, at the same time, many schools are pouring support into labs studying the novel coronavirus as part of the effort to find ways to combat it. Read more ($)