COVID-19 Business Resources
SBA's 14-Day Exclusivity Period to Promote Equitable Relief for Small Businesses:
The 14-day exclusivity period will start on Wednesday, February 24, 2021 at 9 a.m., while the other four changes will be implemented by the first week of March. This 14-day exclusivity period will benefit small businesses such as mom-and-pops.
The SBA will:
- Establish a 14-day, exclusive PPP loan application period for businesses and nonprofits with fewer than 20 employees
- Allow sole proprietors, independent contractors, and self-employed individuals to receive more financial support by revising the PPP’s funding formula for these categories of applicants
- Eliminate an exclusionary restriction on PPP access for small business owners with prior non-fraud felony convictions, consistent with a bipartisan congressional proposal
- Eliminate PPP access restrictions on small business owners who have struggled to make federal student loan payments by eliminating federal student loan debt delinquency and default as disqualifiers to participating in the PPP; and
- Ensure access for non-citizen small business owners who are lawful U.S. residents by clarifying that they may use Individual Taxpayer Identification Number (ITIN) to apply for the PPP.
For additional information on this exclusive program, please click here.
Paycheck Protection Program - Second Round Key Information
On 01/11/21, SBA will begin accepting applications for first draw PPP loans from community development financial institutions (CDFI’s) only.
On 01/13/21, SBA will begin accepting applications for second draw PPP loans from CDFI’s only.
In preparation for the reactivation of the program next week, SBA has updated its guidance on PPP. Those documents are attached to this message, and are summarized below:
- PPP borrowers can set their PPP loan’s covered period to be any length between 8 and 24 weeks to best meet their business needs;
- PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures;
- The Program’s eligibility is expanded to include 501(c)(6)s, housing cooperatives, direct marketing organizations, among other types of organizations;
- The PPP provides greater flexibility for seasonal employees;
- Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount; and
- Certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan.
A borrower is generally eligible for a Second Draw PPP Loan if the borrower:
- Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses;
- Has no more than 300 employees; and
- Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.
As immunizations with COVID-19 vaccines move ahead, the Henderson area can look forward to our region’s return to normal functioning in the months ahead. In the interim, the City of Henderson will remain dedicated in our efforts to provide the needed support for commerce during this challenging time. Henderson’s business community and city residents have shown impressive resilience in the face of this global pandemic. We’re proud to work together for Henderson’s future.
A vital network of support and services is available to you as a business owner in Henderson. This city and this state are committed to your success, working in collaboration to keep your operation running as smoothly and strongly as possible. Below, see a few of the connections that provide important information on wide-ranging business areas.
COVID-19 is having a significant impact on the business community. At the City of Henderson, we continue to be the strongest and most reliable resource for our local business owners. We are in this together and will assist you in each step of the way so that you can move your business forward.
We are available by phone, email or you may request an appointment.
Office Hours: Monday through Thursday, 7:30 a.m. – 5:30 p.m.
Phone: (702) 267-1650, voicemails will be returned within 24-48 hours.
Department of Business and Industry (B&I) has developed a Resource Center for business owners/entrepreneurs helping them to plan for what happens during these uncertain times and navigate the new challenges as they restart their operations.
Nevada Department of Employment, Training and Rehabilitation (DETR) has compiled multiple resources regarding unemployment claims and job seeking on their website, with unemployment information for claimants and employers on their website. For information on Rapid Response assistance call (775) 684-0362 or email email@example.com
Nevada JobConnect provides a portal where job seekers can find more information and file a claim for Pandemic Unemployment Assistance.