Greater Richmond companies large and small are impacted by the effects of the COVID-19 outbreak. Here, get information on where to turn for help as a business owner.

Paycheck Protection Program (PPP)

  • Paycheck Protection Program loans provide cash flow for “small” businesses and nonprofits with 500 employees or less; the amount of the loan can be up to 2 ½ times your average monthly payroll (up to a maximum of $10 million); 1% interest rate; importantly, a significant portion of these loans will be forgiven for businesses that retain or rehire employees between now and June 30.
  • Includes $500 billion for loans to struggling businesses and governments
  • Adds $600 per week to unemployment benefits (the pre-existing Virginia maximum was $378 per week) and extends the benefit period
For small businesses and other entities, the Paycheck Protection Program can be very important. Not only does the loan provide immediate cash to keep your business afloat, but an amount equal to the total of your payroll, health insurance costs, mortgage interest, and rent incurred for 8 weeks after your loan will be converted to a grant upon submission of documentation.

More information on PPP:

While you are waiting to hear back from a lender, you can review the SBA-approved application and assemble some of the documentation you will need:
  • Evidence you paid salaries and payroll taxes on or around February 15, 2020
  • Evidence of your monthly payroll for the previous year

For more information on PPP,  email John Easter, ChamberRVA’s Senior Vice President of Government & Community Affairs

Additional assistance:

Webinar Sessions:

  • Getting Back to Business: What the Richmond Business Community Needs to Know about COVID-19 – presented by VCU Health and featuring Brian Anderson, ChamberRVA, CEO as a panelist. Wednesday, May 13 at 3:00 pm. Click here to register.
  • Virginia SBDC has a recurring webinar series to help businesses navigate through COVID-19. See the latest events.
  • Social Distancing for Families: Screen Time Strategies and Resources. Recording here.
  • Social Distancing with children under 6. Recording here.
  • VECF webinar with great information and tools for family day home providers from “Resources for Child Care Programs Impacted by COVID-19”. Listen and view materials here.
  • National Retail Federation has provided a Small Business Loans webinar
  • KPMG COVID-19 Relief Provisions
  • Dominion Payroll COVID-19 Updates and Upcoming Webinars

Member updates and local business COVID-19 response:

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