The WVEDC is working with federal, state and local officials to communicate the most recent information and resources for WV businesses regarding the coronavirus (COVID-19) pandemic.
COVID-19 Business Relief Resources from the West Virginia Development Office
In order to aid businesses and communities dealing with the impact of COVID-19, the West Virginia Department of Commerce has developed a directory of human and financial resources. Please continue to receive public health information from the Department of Health and Human Resources and Governor Jim Justice’s official website. HERE you will find important information about resources from both state and federal agencies available to businesses and communities affected economically from COVID-19.
SBA Express Bridge Loans
Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 with less paperwork. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan. If a small business has an urgent need for cash while waiting for decision and disbursement on Economic Injury Disaster Loan, they may qualify for an SBA Express Disaster Bridge Loan.
Small Business Development Center (SBDC) Resources
WEST VIRGINIA RESOURCES
WV Work Remote Connection Initiative Launched to Help Businesses Support Remote Workers During Pandemic
As businesses struggle to adapt to their employees working from home, it has become apparent that many small to medium sized firms don't have the network capacity and bandwidth to support more than a few remote workers. This can be due to inadequate combination of these factors. Alpha Technologies, an IT services firm headquartered in Hurricane, WV, is working to address this rapidly growing challenge by offering the West Virgina Work Remote Connection Initiatvie (WV-WRC) to any small-to-medium sized business across the state. The program offers secure server and connectivity to any business that needs it al no cost for 90 days. Under the program, Alpha Technologies will host (either physically or virtually) a businesses' server(s) at the federally-secured data center in South Charleston, install any necessary software to enable the business and remote worker to connect, provide voice/video services, if desired, and offer technical assistance and training to get them online. There is no cost to a business to take advantage of these services for up to 90 days. After the initial 90-day term is over, Alpha Tefchnologies will work with each business to return them to their previous state of operation or continue the WV-WRC for an extended period based on sustainability.
To learn more about the West Virfinia Work Remote Connection Initiative or to appy click here.
BUSINESS ASSISTANCE PROGRAMS
The Dominion Energy Charitable Foundation
The Dominion Energy Charitable Foundation has committed $1 million to aid COVID-19 relief efforts. Of the $1 million commitment, $250,000 will go to the American Red Cross as it continues to mobilize efforts to respond to the outbreak, and the remaining $750,000 will provide funding to nonprofits addressing direct needs in the communities across the Dominion Energy footprint, with a primary focus on those areas that are home to the more than 7 million retail customers Dominion Energy serves. The deadline is April 15th. Apply here.
Emergency Impact Fund for North Central West Virginia
Your Community Foundation (YCF) made a $10,000 contribution to initiate this fund, which will support nonprofits in the counties we serve: Harrison, Marion, Monongalia, Preston, and Taylor. One hundred percent of donations to this fund will be distributed to nonprofits in our region, with priority given to those addressing immediate human needs. Nonprofits will be able to apply for this emergency grant funding through a streamlined, online application beginning April 1. Depending on the donations we receive and how long the crisis continues, YCF will make grants to nonprofits on a rolling basis.
The Small Business Relief Initiative and Fund FAQs
What is the Small Business Relief Initiative?
The Small Business Relief Initiative was started by GoFundMe to help small businesses that have been affected by the COVID-19 pandemic and empower their communities to rally behind them. GoFundMe has partnered with Yelp and Intuit QuickBooks to provide small business owners with the financial support and resources needed to continue running their businesses during and after the coronavirus crisis.
As part of the Small Business Relief Initiative, GoFundMe, Yelp, and Intuit QuickBooks have each donated $500,000 to the Small Business Relief Fund. GoFundMe.org, the company’s charitable and advocacy arm, started the Small Business Relief Fund to benefit small businesses. Supporters can donate to the Small Business Relief Fund and GoFundMe.org will provide grants to small businesses across the United States, starting with the hardest hit areas. The Small Business Relief Fund will be issuing $500 matching grants to qualifying businesses that raise at least $500 on GoFundMe. More partners will be announced in relation to this initiative at a later date. Learn more here.
Facebook Small Business Grants Program
We know that your business may be experiencing disruptions resulting from the global outbreak of COVID-19. We’ve heard that a little financial support can go a long way, so we are offering $100M in cash grants and ad credits to help during this challenging time.
Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries where we operate. We’ll share more details as they become available.
How the program can help:
Keep your workforce going strong
Help with your rent costs
Connect with more customers
Cover operational costs
We’ll begin taking applications in the coming weeks. In the meantime, you can sign up to receive more information when it becomes available.
Go to the website to sign up for updates.
Truist – NCIFund COVID-19 Grants
How much is available?
$1 Million in grants from $5,000 to $25,000
For how long?
Funds are available to businesses that have completed all application components, on a first come – first served basis
Who is eligible?
Businesses in MD, NJ, NC, OH (Brown, Butler, Clermont, Hamilton and Warren Counties), PA, SC, VA, WV and Washington, D.C.
That were in operation as of August 1, 2019.
That have no more than 10 full time employees and no more than $1 million in annual revenue.
How do I apply?
Application coming soon. Click here for more information.
Verizon Small Business Recovery Fund
LISC will use the Verizon funding to provide grants of up to $10,000 to businesses facing immediate financial pressure because of COVID-19—especially entrepreneurs of color, women-owned businesses and other enterprises in historically underserved communities who don’t have access to flexible, affordable capital. Sign up for updates and notices.
Bartender Emergency Assistance Program
In order to qualify for grant assistance from the Bartender Emergency Assistance Program, the recipient must satisfy all of the following requirements: Be a Bartender or the spouse or child of a Bartender. The Bartender Emergency Assistance Program defines a “Bartender” as an individual employed in serving beverages or otherwise engaged in the production, promotion or distribution of alcoholic beverages. An individual is considered “employed” as a Bartender if, for not less than one year prior to the application, the individual performed services as a Bartender on a regular full- or part-time basis or, if the catastrophic event or emergency hardship giving rise to the application prevents the individual from performing such services, for not less than one year prior to the event or hardship the individual performed services as a Bartender on a regular full- or part-time basis. Learn more about the program and apply here.