DGI will continue to keep you posted on updates that are pertinent to you and your business.
We are working on creative solutions to help you during this time and want to ensure you are kept abreast of constantly changing updates

FINANCIAL ASSISTANCE
SBA Disaster Recovery Assistance
: Your business can apply for an SBA Disaster Relief Loan. If you missed the Chamber of Commerce Daily Action call regarding this, you can listen to the call here.

  • TIP: Fill out the paper application first and then submit the online application to ensure you have all the information needed.
  • Resource: Bob Weston, Director of the Piedmont Triad Regional Service Center at SBTDC has 10 counselors on staff who can help answer questions you may have regarding the application. Contact SBTDC to make an online appointment at www.sbtdc.org or call 336-256-9300.
  • No cost to apply for disaster relief loans.
  • TIP: print out confirmation code once application is submitted for reference and to get updates on the status of your loan request.

ADDITIONAL RESOURCES

  • Coronavirus and Forbearance Info for Students, Borrowers, and Parents. If you’re concerned about your studies or loan repayment, click here.
  • Apply for Unemployment Benefits by clicking here.
  • Coronavirus Tax Relief: Tax Day now July 15: Treasury, IRS extend filing deadline and federal tax payments regardless of amount
  • Employment Law Changes | Effective April 2, the Families First Coronavirus Response Act mandates paid sick leave, paid family and medical leave and enhanced unemployment compensation benefits.
  • Unemployment Insurance | As an employer you may be eligible for Disaster Unemployment Assistance (DUA). DUA is a federal program that provides temporary payments to people in a federally declared disaster area whose employment has been lost or interrupted as a direct result of the disaster. Business owners that are self-employed, a farmer, or a commercial fisherman, who is unemployed as a direct result of the disaster may be eligible.
  • NC COVID-19 Rapid Recovery Loan Program | The Golden LEAF Foundation is providing bridge loans of up to $50,000 with six months of no interest and no payments. These loans are intended to support businesses until they are able to secure an SBA loan or other long-term assistance.

VIRTUALLY SUPPORT OUR VENUES

Many of our local theaters, bars and venues are holding virtual performances. We encourage you to visit their individual web sites and social media channels for more information. Additionally, we will post information about each of these shows as we are made aware on our Instagram and Facebook stories. 

REMINDER
The Greensboro Chamber of Commerce is holding daily virtual action calls to help local businesses owners mitigate the negative effects of the pandemic. Read more information on the Chamber of Commerce website. 

MARKETING
DGI is constantly thinking of creative ways to help your business during this challenging time.

  1. New Commercial: In an effort to encourage folks to support downtown businesses, DGI is running a new commercial on local stations. View our updated commercial here. We encourage you to share it on your social media channels.
  2. Tents: We are also working with rental company Party Makers to place 10×10 tents in front of downtown businesses who are interested to promote sidewalk sales and curbside pick-up. Send an email directly to Sarah Healy, Director of Operations, if you are interested in having a tent placed in front of your business. We are hoping it will attract customers and make curbside pick-up easier. DGI will cover the cost of the tent rental.
  3. Updated List of Businesses for promotion: DGI will continue to update and promote our list of downtown businesses who offer gift certificates/cards, delivery, curbside pickup and online services. Please email our marketing director, Stacy Calfo, with any updates so we can keep this list updated. In addition, send any promotional pictures or images we can use on our social media channels. We will continue working with our local media to promote your business as well.

RELIEF EFFORTS
There are ways the community is coming together during this time:

The Coronavirus Aid, Relief and Economic Security (CARES) Act.  is intended to provide more robust support to both individuals and businesses. While we are highlighting some of the benefits for small businesses below… we encourage you to read the entire summary linked here.  

  • Expanded unemployment insurance (UI) for workers, including a $600 per week increase in benefits for up to four months and federal funding of UI benefits provided to those not usually eligible for UI, such as the self-employed, independent contractors, and those with limited work history. The federal government is incentivizing states to repeal any “waiting week” provisions that prevent unemployed workers from getting benefits as soon as they are laid off by fully funding the first week of UI for states that suspend such waiting periods. Additionally, the federal government will fund an additional 13 weeks of unemployment benefits through December 31, 2020 after workers have run out of state unemployment benefits.
  • Paycheck Protection Program, which is meant to help small businesses (fewer than 500 employees) impacted by the pandemic and economic downturn to make payroll and cover other expenses from February 15 to June 30. Notably, small businesses may take out loans up to $10 million—limited to a formula tied to payroll costs—and can cover employees making up to $100,000 per year. Loans may be forgiven if a firm uses the loan for payroll, interest payments on mortgages, rent, and utilities and would be reduced proportionally by any reduction in employees retained compared to the prior year and a 25 percent or greater reduction in employee compensation.
  • Employers are eligible for a 50 percent refundable payroll tax credit on wages paid up to $10,000 during the crisis. It would be available to employers whose businesses were disrupted due to virus-related shutdowns and firms experiencing a decrease in gross receipts of 50 percent or more when compared to the same quarter last year. The credit is available for all employee wages for businesses with 100 or fewer employees.
  • Employer-side Social Security payroll tax payments may be delayed until January 1, 2021, with 50 percent owed on December 31, 2021 and the other half owed on December 31, 2022. The Social Security Trust Fund will be backfilled by general revenue in the interim period.

HELPFUL CARES ACT LINKS