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The original item was published from 3/24/2020 3:58:39 PM to 3/24/2020 4:06:45 PM.

News Flash


Posted on: March 24, 2020

[ARCHIVED] COVID-19 Local Businesses Information


Below is a list of resources for local businesses looking for guidance on how to navigate impacts related to the COVID-19 pandemic.  Small businesses are encouraged to review information from webinars hosted by the Alabama SBDC Network to help answer questions on how they can prepare and apply for an SBA Economic Injury Loan.  Slides from the webinar are available here.  An additional webinar will be scheduled for next week.

Governor Kay Ivey announced on Saturday that small businesses across Alabama negatively impacted by the coronavirus pandemic are eligible for assistance under the U.S. Small Business Administration’s Economic Injury Disaster Loan (EIDL) program (link below).

Financial Assistance

IRS Coronavirus Tax Relief 

The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the Coronavirus.

Alabama Department of Revenue Sales Tax Relief for Small Retail Businesses 

An explanation of COVID-19 related relief for taxpayers.

U.S. Small Business Administration (SBA) Economic Injury Disaster Loan program (EIDL) 

The U.S. Small Business Administration has announced relaxed criteria for designated states’ and territories’ low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).

  • Loans up to $2,000,000

  • 3.75% fixed interest rate on loans to for-profit companies

  • 2.75% fixed interest rate on loans to non-profits

  • Up to 30-year term and amortization (determined on case-by-case basis)

  • Financing to be used for fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.

U.S. SBA COVID-19 Small Business Guidance & Loan Resources 

The SBA provides explanations and links to their Disaster Loan Program (above), guidance for businesses and employers, SBA products and resources, government contracting and local assistance.

U.S. SBA Disaster Relief Assistance Presentation

Information that details eligibility for SBA Disaster Relief Assistance as well as the application process presented by the U.S. SBA

Business Response Tools

Alabama Small Business Development Center Small Business Guidance 

Information from AL Department of Revenue on sales tax relief for small retail businesses and from AL Department of Labor on support for workers impacted by COVID-19.

Alabama Small Business Development Center Disaster Assistance Business Continuity

Offers small businesses guidance on planning for and recovering from disasters

Business Council of Alabama (BCA) Coronavirus Business Resources

Information from the BCA regarding the ever-changing business environment as it relates to COVID-19

IRS Disaster Assistance and Emergency Relief for Individuals and Business

IRS guidance for disaster assistance

Occupational Safety and Health Administration COVID-19 Resources

Information for workers and employers about the evolving COVID-19 pandemic

SCORE Small Business Disaster Preparedness & Recovery Resources

Guidance for small businesses in disaster planning and recovery

U.S. Chamber of Commerce Business Guidelines

COVID-19 Business Preparedness Checklist and tips on Combating the Coronavirus

U.S. Chamber of Commerce Workplace Tips and Resources

General workplace health and safety from the Center for Disease Control and Prevention (CDC)

U.S. Chamber of Commerce Foundation Resilience in a Box Resources 

Resilience in a Box is based on best practices and designed to educate business leaders on disaster preparedness and business resilience

Additional Resources and Funding Opportunities

American Medical Loan

Small business loans for medical practices

Food Truck Lender

Loan opportunities for small business, food trucks, and mobile vendor businesses

Military Financial

Small business loans for veterans

VA Financial

Small business loans for veterans

U.S. Department of Homeland Security - Acquisition Planning Forecast System

Program to encourage small businesses to submit to be a federal DHS contractor or sub-contractor for larger programs

U.S. General Services Administration 

Federal database of economic assistance listings, wage determinations, and contract opportunities.

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