Survey of State COVID 19 Business Support Programs

Alabama

Governor Ivey and the Alabama Department of Revenue have extended the state income tax filing due date from April 15, 2020, to July 15, 2020, without penalties or interest.

Alaska

Established the Alaska COVID-19 Emergency Business Loan Program to provide 100% state-guaranteed loans to Alaskan businesses for immediate relief and loan program will be administered by local banks and structured to meet Alaska’s unique needs.

Arizona

The Arizona Legislature approved a $50M coronavirus relief package that allows Governor Ducey’s administration to fund response programs related to housing assistance, business support and relief for nonprofits and healthcare providers, and Governor Ducey announced the formation of the AZ Coronavirus Relief Fund and as part of the Arizona Together, an initiative to support Arizonans during the COVID-19 outbreak, connecting individuals and businesses to resources, raising money for community organizations and providing information on volunteer opportunities.

Arkansas

Allocation of $4,000,000 from the Governor’s Quick Action Closing Fund, and an additional $3,000,000 from the Attorney General’s Consumer Education and Enforcement Fund for eligible companies may apply for a loan or loan guaranty of up to $250,000 with a prioritization for small to medium-sized companies that are in the supply chain of essential goods and services (including healthcare, food manufacturing, logistics) including both loan guaranties and direct lending to businesses.
Up to $12 million in CDBG assistance will be made available for COVID19 relief and recovery for grants to eligible local governments with which to provide direct economic assistance in the form of loans to companies impacted by COVID19 and grants to clinics, hospitals and other non-profits who are working hard to provide care in rural Arkansas and to vulnerable populations such as the homeless.

California

California’s Infrastructure and Economic Development Bank (IBank) will issue loan guarantees up to 95 percent of the loan through its partner Financial Development Corporations to help small business borrowers who were impacted by disasters or public safety power shutoffs and who need term loans or lines of credit for working capital. Small businesses, including small farms, nurseries, agriculture-related enterprises and nonprofits that have suffered an economic loss Resources for Businesses and/or physical damage may apply, and this disaster program will help lenders and small businesses by providing loan guarantees of up to $1 million for small business borrowers in declared disaster areas; and
California’s IBank is offering loans from $500 to $10,000 to low-wealth entrepreneurs in the declared disaster and emergency areas through its Jump Start Loan Program, IBank established the Jump Start Loan Program in 2016 as a small loan and financial literacy/technical assistance program designed for low-income small businesses in low-wealth communities, including businesses owned by women, minorities, veterans, people with disabilities and those previously incarcerated, and access to IBank’s Disaster Relief Loan Guarantee Program and Jump Start Loan Program can be made through its partner Financial Development Corporations (FDCs).

Colorado

The Colorado Department of Labor and Employment (CDLE) published emergency rules which temporarily require employers in certain industries to provide a small amount of paid sick leave to employees with flu-like symptoms while awaiting COVID-19 testing.
If you work for a ski resort or other employer that closed or reduced your hours to help stop the spread of COVID-19, you can file or reopen an unemployment claim through the Colorado Department of Labor and Employment.

Connecticut

Connecticut small businesses and nonprofits that have been negatively impacted by the global spread of the COVID-19 pandemic can now apply for one-year, no-interest loans of up to $75,000 under the launch of a new program administered by the state’s Department of Economic and Community Development (DECD), the Connecticut Recovery Bridge Loan Program will make $25 million available to Connecticut businesses and nonprofits that have 100 or fewer employees to assist with cash flow, and loan amounts are up to the lesser of either three months operating expenses and/or $75,000.
The Connecticut Department of Revenue Services has extended deadlines for filing and payments associated with certain state business tax returns, effective immediately, the filing deadlines for certain annual tax returns due on or after March 15, 2020, before June 1, 2020, are extended by at least 30 days, and the payments associated with these returns are also extended to the corresponding due date in June.

Delaware

Created Hospitality Emergency Loan Program to provide no-interest loans are capped at $10,000 per business per month to cover rent, utilities and other unavoidable bills but cannot be used for personnel costs, the loans have a 10-year term with payments deferred for nine months, the Delaware Division of Small Business will administer the program using existing state funds, and eligible businesses must have been in operation for at least a year, have annual revenue below $1.5 million and be in a certain hospitality-connected industries.

District of Columbia

District of Columbia City Council created a small business grant program to assist nonprofit organizations and small contractors who do not qualify for unemployment insurance.

Florida

Florida Small Business Emergency Bridge Loan expanded for business owners with two to 100 employees located in Florida affected by COVID-19 for short-term loans up to $50,000, these loans are interest-free for up to one year and are designed to bridge the gap to either federal SBA loans or commercially available loans.

Illinois

Illinois Hospitality Emergency Grant Program the with $14 million drawn from funds originally budgeted for job training, tourism promotion, and other purposes, grant funds will support working capital like payroll and rent, as well as job training, retraining, and technology to support shifts in operations, like increased pick-up and delivery, bars and restaurants that generated between $500K and $1M in revenue in 2019 are eligible for up to $25,000, and bars and restaurants that generated less than $500K in revenue in 2019 are eligible for up to $10,000, hotels that generated less than $8M in revenue in 2019 are eligible for up to $50,000, and the Hospitality Emergency Grant Program application is now closed.
Illinois Small Business Emergency Loan Fund offers small businesses located outside of the City of Chicago with fewer than 50 workers and less than $3 million in revenue in 2019 will be eligible to apply for low interest loans of up to $50,000, successful applicants will owe nothing for six months and will then begin making fixed payments at a below market interest rate for the remainder of a five-year loan term.
Illinois Downstate Small Business Stabilization Program the DCEO is repurposing $20 million in CDBG funds to stand up the Downstate Small Business Stabilization Program to offer small businesses of up to 50 employees the opportunity to partner with their local governments to obtain grants of up to $25,000 in working capital and these grants will be offered on a rolling basis.
Illinois Department of Revenue is waiving any penalty and interest that would have been imposed on late Sales Tax payments from qualified taxpayers for taxpayers operating eating and drinking establishments that incurred a total Sales Tax liability of less than $75,000 in calendar year 2019.

Indiana

Indiana will align with the federal government to delay state income tax payments from April 15 to July 15 and penalties will be waived for 60 days for property tax paid after May 11.

Iowa

Iowa COVID-19 Targeted Small Business Sole Operator Fund to support employers with zero employees that have been impacted by the COVID-19 pandemic with loans available up to $50,000 for businesses looking to start or expand, loan funds can be used for business improvements and expenses, including (but not limited to) the purchase of equipment, furnishings, inventory and specific operating expenses.

Kansas

Hospitality Industry Relief Emergency fund provides eligible businesses in Kansas will be able to apply for a one-time loan of up to $20 thousand at 0% interest for a period of 36 months with be no principal or interest payments for the first four months.
Small business impacted by COVID 19 without credit available elsewhere located in the state are eligible to apply for low-interest (small business 3.75 and nonprofits 2.75), long-term (up to 30 years based upon borrower’s ability to repay) loans for fixed debts payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact, of up to $2 M through the U.S. Small Business Administration’s Economic Injury Disaster Loan program.

Kentucky

Mirrored the federal government by delaying the tax filing deadline by three months from April 15 to July 15.

Louisiana

Gov. John Bel Edwards announced a new Louisiana Loan Portfolio Guaranty Program, which will offer loans of up to $100,000 to Louisiana small businesses of fewer than 100 employees that are impacted by the COVID-19 crisis, the loans will require no payments and will bear no interest for 180 days and carry below-market interest rates of no more than 3.5 percent, is a partnership of Louisiana Economic Development, which will provide a loan guaranty fund, the Louisiana Bankers Association, whose membership will provide the loans; and the Louisiana Public Facilities Authority, which will administer the program with a total loan pool of $50 million will be quickly disbursed to eligible small businesses across Louisiana.

Maine

Finance Authority of Maine and participating lenders will make special terms available to Maine-based businesses that have experienced interruption or hardship due to COVID-19, various benefits include: loans up to $50,000 offered at reduced interest rates; interest-only payments; up to 75% pro-rata loan insurance on loans up to $100,000; interim financing in conjunction with the SBA wherein FAME makes loan proceeds available while approved SBA borrowers await federal funding.
COVID-19 Relief Consumer Loan Program provides no-to low-interest consumer loans through a loan guarantee program involving Maine’s banks, credit unions, and FAME. Interested borrowers should contact their local bank or credit union (not FAME) to see if the lender is offering this program and to apply, the program offers loans of up to $5,000 (minus any unemployment benefits received by borrower) and a borrower may apply for up to three (3) loans, one per each 30-day period.

Maryland

Maryland business and individual income taxpayers will be given a 90-day extension for tax payments, no interest or penalty for late payments will be imposed if 2019 tax payments are made by July 15, 2020.
Comptroller extended business-related tax filing deadlines to June 1.

Businesses who paid their Maryland Sales & Use Taxes for March early may request a refund of their payment.
Maryland has authorized $130 million in loan and grant funding for small businesses and manufacturers that have been negatively impacted by the Coronavirus (COVID-19), this emergency assistance provides interim relief and proceeds that can be used to pay cash operating expenses including payroll, suppliers, rent, fixed debt payments and other mission critical cash operating costs.
Maryland Small Business COVID-19 Emergency Relief Loan Fund – This $75 million loan fund (for for-profit businesses only) offers no interest or principal payments due for the first 12 months, then converts to a 36-month term loan of principal and interest payments, with an interest rate at 2% per annum. Learn more.
Maryland Small Business COVID-19 Emergency Relief Grant Fund – This $50 million grant program for businesses and non-profits offers grant amounts up to $10,000, not to exceed 3 months of demonstrated cash operating expenses for the first quarter of 2020. Learn more.
Maryland COVID-19 Emergency Relief Manufacturing Fund – This $5 million incentive program helps Maryland manufacturers to produce personal protective equipment (PPE) that is urgently needed by hospitals and health-care workers across the country.

Massachusetts

Massachusetts offered tax relief that includes postponing the collection of regular sales tax, meals tax, and room occupancy taxes that would be due in March, April and May so that they will instead be due on June 20, all penalties and interest that would otherwise apply will be waived, businesses that paid less than $150,000 in regular sales plus meals taxes in the year ending February 29, 2020 will be eligible for relief for sales and meals taxes, and business that paid less than $150,000 in room occupancy taxes in the year ending February 29, 2020 will be eligible for relief with respect to room occupancy taxes.

Michigan

Michigan Small Business Relief Program provides both grants and loans to small businesses affected by the coronavirus starting on or around April 1, grants will be available in amounts of up to $10,000 to help cover working capital, loans will be available in amounts from $50,000 to $200,000 at interest rates of 0.25%, companies with 50 employees or fewer can qualify for grants, while loans are targeted at companies with 100 employees or fewer that can’t get credit elsewhere. In both cases, businesses must show income loss.
Michigan PPE Loan Program provides grants ranging from 10,000 to $150,000 up to $1 M in grants for Michigan manufacturers looking to transition their business to produce PPEs.

Minnesota

Minnesota Department of Employment and Economic Development small business emergency loans provides interest-free loans ranging from $2,500 to $35,000 and will be based on the firm’s economic injury and the financial need.
Minnesota Department of Employment and Economic Development created the Minnesota Small Business Loan Guarantee Program, which was approved by the Minnesota Legislature last week, established in response to impacts of COVID-19, and will guarantee $20 million to $25 million in loans for Minnesota small businesses.
Restaurants, bars and other hospitality businesses impacted by the temporary closure order have a 30-day grace period in paying sales and use tax, during this time the Minnesota department of Revenue will not assess penalties or interest, this means that affected businesses with a monthly Sales and Use Tax payment due March 20, 2020 will have until April 20 to make that payment, and these customers should still file their return by March 20.

Missouri

Income tax payment deadlines for individual and corporate income returns with a due date of April 15, 2020, are extended until July 15, 2020, applies to all individual income tax returns, income tax returns filed by C Corporations, and income tax returns filed by trusts or estates, individuals and corporations will also include estimated tax payments for tax year 2020 that are due on April 15, 2020, and penalties and interest will begin to accrue on any remaining unpaid balances as of July 16, 2020.

Montana

Montana Facility Finance Authority, Emergency Loan Program makes short-term loans to eligible institutions at competitive interest rates during periods of declared emergency. Eligible projects include construction and renovation, facility acquisition, refinancing of qualified outstanding debt, the purchase of equipment, operations expenses, and financing costs.
Montana Facility Finance Authority, Emergency Forbearance Program is limited to current Direct and Trust Fund Loan clients of the Authority. The program can only be activated when the State or Federal government declares an emergency for all or part of the State of Montana. The Program will close upon end of the emergency declaration unless extended by Authority Board action.
Montana Department of Commerce, MicroBusiness Finance Program for Montana-based businesses with fewer than ten full-time equivalent employees and gross annual revenues of less than $1,000,000 can apply for a microbusiness loan up to $100,000 by contacting a MicroBusiness Development Corporation (MBDC). MBDCs provide capital to start or expand a business, training and technical assistance, and pre- and post-loan training valuable for the success of a small business.
Montana Department of Commerce, Native American Collateral Support Program addresses the lack of access to capital for Native American-owned businesses. NACS addresses access to capital issues by providing collateral support security for Lenders making loans with Native American-owned businesses that only lack in sufficient collateral/equity for a business loan according to their loan risk profiles. (All other aspects of the credit analysis are satisfactory: cash flow, climate, character, and credit-worthiness). There is no origination fee to Lenders to access these funds from the Montana Department of Commerce.
Montana Department of Commerce, Big Sky Economic Development Trust Fund Planning Grants provides planning funds to eligible applicants to assist with economic development planning efforts that promote long-term, stable economic growth in Montana. Applications which support a critical activity to move an economic development project forward and directly assist a basic sector company are the highest priority for the Department.
Montana Department of Commerce, Wood Product Revolving Loan Fund (WP RLF) is available to wood product businesses experiencing loss or are financially in distress (these are loan funds).
Montana Department of Agriculture, Growth Through Agriculture Mini-Grant Program provides mini-grants available to food and ag companies for education, promotion, marketing, and travel projects to expand agricultural development, economic activity, and employment growth. Given the current public health situation with COVID-19, special attention will be paid to projects that strengthen and expand local food offerings, distribution, and infrastructure.
Montana Department of Agriculture, Rural Assistance Loan program are available to producers with modest financial investments in agriculture. These loans finance agricultural enterprises to enhance producers’ operations and assist in the economic growth and welfare of Montana agriculture.

Nebraska

Nebraska Department of Economic Development (DED) has allocated Community Development Block Grant (CDBG) funds to assist qualified businesses that have been impacted by the COVID-19 outbreak. This funding is currently available through DED’s CDBG Economic Development (ED) funding category. Businesses located in the city limits of Omaha, Lincoln, Bellevue and Grand Island are not eligible for this program. All counties are eligible if the business is located in their jurisdiction and not in the ineligible cities.

New Jersey

New Jersey Economic Development Authority (NJEDA) has a portfolio of loan, financing, and technical assistance programs available to support small and medium-sized businesses.

New Mexico

The New Mexico Economic Development Department (NMEDD) has created a program to assist businesses seeking emergency loans or lines of credit to deal with negative economic impacts from COVID-19. NMEDD can guarantee a portion of a loan or line of credit up to 80% of principal or $50,000. Loan proceeds are flexible and can be used for (and not limited to) the following: working capital, inventory and payroll.
Small business impacted by COVID 19 without credit available elsewhere located in the state are eligible to apply for low-interest (small business 3.75 and nonprofits 2.75), long-term (up to 30 years based upon borrower’s ability to repay) loans for fixed debts payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact, of up to $2 M through the U.S. Small Business Administration’s Economic Injury Disaster Loan program.

North Carolina

N.C. Department of Revenue will not impose a penalty upon individuals and businesses who do not pay their outstanding State income tax liability on tax returns due on April 15, 2020, so long as the taxpayers pay the tax due by July 15, 2020.
In response to the unique economic challenges of COVID-19, a consortium of public, private and nonprofit partners have come together and launched an innovative recovery-lending program to support entrepreneurs like you and stabilize North Carolina’s small business sector. Applicants are encouraged to apply for the NC COVID-19 Rapid Recovery Loans online.

North Dakota

Loans and equity investments are available to companies certified as primary sector under the North Dakota Development Fund, evolving Rural Loan Fund and the Venture Capital Program: up to $1 million, lower than market interest rate, can be in the form of a loan or equity investment, and funding can be used for working capital, equipment or real estate.
Rural Growth Incentive Program Emergency Loans-the Department may declare an emergency and make loans to “Essential Service Companies” that includes gas stations; pharmacies; grocers and, in some cases, restaurants in communities with less than 2,500 in population are eligible, requires a dollar-for-dollar match by the city, a community can apply for $25,000 to $75,000 in matching funding, and loan terms are based on individual needs.

Ohio

Ohio is allowing businesses to forgo workers’ compensation payments for March, April and May in an effort to inject $200 M into the economy.
Ohio granted the Ohio Department of Job and Family Services (ODJFS) with the authority to accept and grant requests for unemployment compensation suspending the normal 1-week waiting period and give relief to applicants who are not offered paid leave through their job, as well as those who have been quarantined by a medical professional, their employer, or whose employers must temporarily close by exempting from the requirement that they be actively seeking work to gain unemployment benefits.
JobsOhio execute an alcohol buy-back initiative allowing bars, restaurants, and F2 permit holders (non-profits) to return surplus product purchased in the last 30 days for a full refund upon return of their supply, this buy-back has a potential of providing restaurant and bar owners across Ohio up to $30 Million total savings, and nearly 800 buyback requests have been made to-date.
JobsOhio is offering a program for businesses with a current JobsOhio’s existing loan only that offers a payment deferment (no interest and no principal payments) for the next six months to fifty companies who are eligible, with over 9,500 employees around Ohio;
JobsOhio is offering a program for existing JobsOhio client businesses only that expands allowable expenses and near-term relaxed compliance audit allowing expenses such as work from home technology and equipment and services to implement guidance associated with COVID-19;
JobsOhio is offering a program for existing JobsOhio client businesses only to provide forgivable, six-month interest-free loan to companies who would use the loan to retain their workforce {this would act as a credit line for payroll that is targeted to medium size private companies with least $50,000/month in hourly payroll workers, after 6-months, if employees are still working, the loan is forgiven, and JobsOhio will invest up to a $100 Million;
JobsOhio is planning a program for small business in Ohio’s small communities in partnership with 2 Ohio community banks to support their existing loan portfolio with JobsOhio investing up to $50 Million in loan guarantees enabling partnering banks to extend $500 million more business lending across the state with almost all the businesses supported will likely be OUTSIDE of the current JobsOhio client portfolio;
JobsOhio is allocating up to $10 Million to support Ohio’s air service and airport infrastructure to uniquely position the state to jumpstart service in key business markets; and
JobsOhio is planning to invest up to $50 Million of reserve funds to backstop Ohio’s Port Authorities, and they anticipate this investment will result in over $250 Million of additional Port Authority investment activity across Ohio.
JobsOhio launched a Personal Protective Equipment and medical supply program, including:
- Several Ohio distillers have started making alcohol-based hand sanitizer which is in heavy-demand across the state, JobsOhio Beverage System has purchased 500 cases (22,000 individual bottles) and is distributing them to Ohio’s 12 Food Banks across the state with its built-in logistics and transportation network;
- The JobsOhio Business Sector & Research Team created a robust database of PPE manufacturers, distributors, and other FDA-approved entities and shared with Strike Force and stakeholders like the OMA, Ohio’s OEMA, and others as a resource;
- JobsOhio connected stakeholders resulting in donation of 14,000 pairs of CROCS through the Greater Dayton Area Hospital Association for health workers and patients;
- JobsOhio approved $4.5 Million to purchase of 1 Million N95 masks to support front-line medical professionals around Ohio’s healthcare system; and
- JobsOhio connected Fuyao efforts to donate 1.2 Million disposable medical masks, 10,000 KN95 masks, & tens of thousands of protective clothing, shoe covers, and medical goggles, and connected Cardinal Health to support logistics, taxes and import fees of over $50K.

Oregon

Small Business Loan Modifications and Forgiveness administered by Business Oregon (Oregon Business Development Fund, Entrepreneurial Development Loan Fund, Oregon Royalty Fund) that defer payments and interest, with no fees, provides loan modifications for the Business Oregon loan guarantee and loan loss reserve programs (Credit Enhancement Fund, Capital Access Program), and forgiveness of existing loans through Business Oregon to Community Development Financial Institutions (CDFIs), to strengthen the CDFIs’ financial position and ability to continue small business lending.
Creation of the “Small Business Stabilization Fund” within the Oregon Community Foundation with initial contribution of $700,000 from the Oregon Growth Fund. This fund will include capital from additional sources to leverage and deploy to intermediary organizations around the state to put money in the hands of small businesses. Request for $10 million of the Oregon Cultural Trust fund to create an emergency relief funding program for arts and cultural organizations. $300 Above-the-Line Charitable Deduction to support non-profits: for tax year starting in 2020, an individual taxpayer who does not itemize is permitted to claim up to $300 in qualified charitable contributions.
WaFD Bank Small Business Lifeline- bank is offering small business lines of credit up to $200,000 interest free for 90 days to businesses affected by Coronavirus (COVID-19), will expedite processing for lines of credit up to $30,000 to existing and new credit worthy clients in their regional market who have been in operation at least two years and can show a 10 percent loss in revenue due to the impact of Coronavirus.

Pennsylvania

COVID-19 Working Capital Access (CWCA) Program is administered by the Pennsylvania Industrial Development Authority (PIDA) and provides critical working capital financing to small businesses located within the Commonwealth that are adversely impacted by the COVID-19 outbreak, and all CWCA loan applications must be submitted through a Certified Economic Development Organization (CEDO).

Rhode Island

For businesses, municipalities, K-12 and other entities, Microsoft is providing six months of Office 365 tools for free to enable remote collaboration, file sharing and video conferencing and they’re also offering free assistance to set up these tools.

South Carolina

South Carolina’s income tax deadline was conformed to the federal government’s July 15, 2020 and includes quarterly estimated payments due on April

South Dakota

Small Business Relief Fund is now available to South Dakota businesses that need assistance to help make ends meet, companies must be a small for-profit or non-profit business as defined by SBA, but with less than 250 employees, have a physical presence in South Dakota, established prior to March 2020, provide a certification from a South Dakota banker and/or South Dakota CPA that: he/she has reviewed recent financial condition of the applicant, that the applicant’s business has incurred economic injury as a result of the COVID-19 pandemic, and the applicant needs the funds for SD operations, have a personal credit with a minimum score of 650; lower requires a special exception, and demonstrate 1:1 debt coverage ratio with the new debt factored under normal circumstances.

Virginia

Virginia Businesses impacted by COVID-19 can request to defer the payment of state sales tax due tomorrow, March 20, 2020 for 30 days, when granted, businesses will be able to file no later than April 20, 2020 with a waiver of any penalties, the Virginia Department of Taxation is extending the due date of payment of Virginia individuals and corporate income taxes, while filing deadlines remain the same, the due date for individual and corporate income tax will now be June 1, 2020, but interest will still accrue, so taxpayers who are able to pay by the original deadlines were encouraged to do so.

Washington

Washington’s State Employment Security Department’s (ESD) Paid Family and Medical Leave program can provide paid leave benefits for Washington workers who need to take time off from work due to a serious health condition or to care for a family member with a serious health condition, and certification by a healthcare provider is required for applications for Paid Family and Medical Leave due to a serious health condition; and
If COVID-19 disrupts a Washington business and causes a mass layoff or closure, the Washington ESD and its local workforce development board partners can respond with Rapid Response services and funding to help impacted workers get connected to unemployment benefits and re-employment services, including re-training, worker support services, and referrals to other social services.

Wisconsin

Wisconsin Economic Development Corporation approved $5 million in funding for Small Business 20/20 that will provide grants of up to $20,000 to targeted businesses with no more than 20 employees to cover rent and to meet payroll expenses, including paid leave (including sick, family and other leave related to COVID-19).

State governments are leading the way to prepare for recovering from COVID 19 and will continue that leadership role as they work to reopen the economy and support economic development.