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COVID-19 Business Resources
The Surprise Economic Development Department is committed to providing relevant and reliable information on a variety of resources and programming to all COVID-19 impacted businesses in our community. Information on this business resource page has been organized by a number of important topics and is subject to changes because of regularly posted updates.
Video Resources
- Financial Assistance
- Free Assistance
- Executive Orders
- Business FAQ
- Safe-to-Reopen Toolkit
- 100-Day Plan
Financial Assistance Available
PPP Loan Forgiveness Application
The U.S. Small Business Administration has released the application and instructions for how Paycheck Protection Program borrowers can see their loans forgiven. The application includes a worksheet that details how to calculate the amount of the loan that can be forgiven and provides a summary of costs eligible for forgiveness. The SBA also provided a list of documents borrowers have to submit with their forgiveness applications. Learn more…
Download the SBA PPP Forgiveness Instructions and Application
CARES Act Readiness Program for Small Businesses – available in English en espanol!
The Arizona Small Business Association and the Arizona Chamber of Commerce have joined forces to create the CARES Act Readiness Program for Small Businesses (www.caresactaz.com). This online training program helps small businesses access the capital they need, helping both novice and experienced borrowers successfully access relief funds with have individualized support to apply for loans.
The CARES Act Readiness Program for Small Businesses provides this individualized support for free. The program is customized to the business owner’s borrowing experience. It provides 2-5 online classes that will walk businesses through everything from the basics of finance to submitting loan applications.
Contact Laura Ciscomani from the AZ Chamber of Commerce at lciscomani@azchamber.com for assistance.
SBA Disaster Assistance in Response to the Coronavirus
The U.S. Small Business Administration is offering 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). Upon a request received from a state’s or territory’s Governor, SBA will issue under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, an Economic Injury Disaster Loan declaration. https://www.sba.gov/disaster-assistance/coronavirus-covid-19.
Download the CARES Act SBA Summary.
Download the CARES Act Program Comparison Chart
View the CARES Act webinar: Arizona Commerce Authority – Ensuring Business Continuity Webinar Video 04/01/20
Webinar Timeline:
- 00.00 – Welcome by Sandra Watson, Arizona Commerce Authority President & CEO
- 2.06 – Agenda/Introductions by Paul Hughes, Arizona Commerce Authority EVP Business Development
- 10.47 – Financial Relief by Paul Hickman, Arizona Bankers Association President & CEO
- 19.11 – Paycheck Protection Program / Economic Injury Disaster Loan / Debt Relief Programs by Kelly Skalicky, Stearns Bank President & CEO
- 41.54 – Operational Considerations by Franklin Vincent, SheKnows.com former CEO
- 50.05 – Plan to Survive & Thrive by David T. Barton, BurnsBarton Partner
- 1:01:34 – Workplace Safety Issues by Kathryn Hackett King, BurnsBarton Partner
- 1:12:48 – New Challenges – Real (Tenants & Lenders) by John Keyser, Keyser Founder
- 1:31:23 – Mitigating Business Risk / Closing by Paul Hughes, Arizona Commerce Authority President & CEO
View the Arizona Commerce Authority webinar: Workforce Continuity and Stragety - April 7, 2020
Arizona Commerce Authority webinar: Workforce Continuity and Stragety - Presentation Deck
Webinar Timeline:
- 0.00 – Agenda/Introductions by Paul Hughes, Arizona Commerce Authority EVP Business Development
- 3.54 – Paycheck Protection Program by James Pipper, Small Business Administration Assistant District Director – Economic Development
- 14.05 – Workplace Liabilities: Employees and Covid-19 by David T. Barton, BurnsBarton Partner
- 26.46 – Latest Guidance on Extended FMLA by Kathryn Hackett King, BurnsBarton Partner
- 36.04 – Cross-Walking and Training Opportunities by Kolu Wilson, Office of Economic Opportunity Workforce Administrator
- 46.41 – New Policy: Unemployment Insurance (UI) Eligibility by Michael Wisehart, Department of Economic Security Assistant Director
- 55.15 –Closing by Paul Hughes, Arizona Commerce Authority President & CEO
The CARES Act assists small businesses in the following ways:
Paycheck Protection Program: Zero-fee, low-interest small business loans up to $10 million. Small businesses, nonprofits, franchises, veteran’s organizations, and tribal businesses up to 500 employees are eligible, as long as they conform with SBA definitions. View Program Information...
This Program is available through current SBA approved lenders and may also be facilitated by other lends are they are certified to lend against SBA programs. View the current Arizona SBA Lenders List or Surprise Lender List. If you do not see your lender included on this list, follow up with your lender directly to see if they are planning to offer this program.
Up to 8 weeks of average payroll and other costs will be forgiven if the business retains its employees and their salary levels. Principal and interest is deferred for up to a year and all borrower fees are waived. This temporary emergency assistance through the SBA and the Department of Treasury can be used in coordination with other COVID-financing assistance established in the bill or any other existing SBA loan program.
SBA Economic Injury Disaster Loan (EIDL): EIDLs are loans of up to $2 million that carry interest rates up to 3.75 percent for companies and up to 2.75 percent for nonprofits, as well as principal and interest deferment for up to 4 years. The loans may be used to pay for expenses that could have been met had the disaster not occurred, including payroll and other operating expenses. With the Governor’s emergency declaration, every county in our state is eligible to receive relief through EIDL grants. Visit the SBA Guidance and Loan Resources page for more information and to apply.
SBA Emergency Economic Injury Grant: $10 billion in funding to provide an advance of $10,000 to small businesses and nonprofits that apply for an SBA Economic Injury Disaster Loan (EIDL) within three days of applying for the loan.
The grant does not need to be repaid, even if the EIDL request is denied. EIDL can be used to provide paid sick leave, maintain payroll, meet increased production costs, or pay business obligations like rent or a mortgage.
Visit the SBA Guidance and Loan Resources page for for more information and to apply.
SBA Debt Relief: The SBA Debt Relief program will provide a reprieve to small businesses as they overcome the challenges created by this health crisis. Under this program:
The SBA will also pay the principal and interest of new 7(a) loans issued prior to September 27, 2020.
The SBA will pay the principal and interest of current 7(a) loans for a period of six months.
Visit the SBA Guidance and Loan Resources page for more information and to apply.
For program questions or assistance in completing the SBA application online, businesses may contact the following:
SBA Disaster Customer Service Center at 1-800-659-2955.
SCORE (Service Corps Of Retired Executives) www.score.org
Arizona’s Small Business Development Centers (SBDC) https://www.azsbdc.net/where-we-are/locations/
Main Street Lending Program: The Federal Reserve has announced that it is establishing a Main Street Lending Program to support lending to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 pandemic. The Program will operate through three facilities: the Main Street New Loan Facility (MSNLF), the Main Street Priority Loan Facility (MSPLF), and the Main Street Expanded Loan Facility (MSELF). Learn more…
View Main Street Lending Program FAQ
Better Business Bureau Main St. Matters Micro Grant: BBB Serving the Pacific Southwest is proud to launch Main St. Matters, a program that will offer emergency grants in the form of $500 or $1,000 awards for businesses who have been financially impacted during the COVID-19 crisis. Click here to learn more and to apply.