Small business owners across America are fighting to keep their workers employed and their dreams alive. Amid the pandemic and the economic fallout, too many already have shuttered, and millions more are on the brink of permanent closure.
We are committed to mobilizing and maximizing the impact of the nation’s response. Join us in supporting small businesses, their workers, and the families and communities that depend on them.
"We cannot and will not allow our country’s critical small business sector to collapse."
U.S. CHAMBER OF COMMERCE PRESIDENT
RESOURCES AND WEBINARS
The latest resources, advice, and information to help small businesses navigate this challenging time, including financial aid guides, remote working tips, best practices articles, webinars and town halls, and more.
Every other week CO— by the U.S. Chamber of Commerce hosts an audience-driven discussion that combines expert advice with practical strategies from business owners to help small businesses navigate rebuilding and reopening. Register for the next event.
In partnership with Inc., CO— by the U.S. Chamber of Commerce hosted a weekly virtual town hall event series to help small businesses navigate financial aid programs and answer questions. View the recorded sessions.
CO— by the U.S. Chamber of Commerce hosted “Workshop Wednesdays” – a weekly series of virtual events focusing on a single topic related to COVID and its impact on small companies. View the recorded sessions.
As part of the Save Small Business Initiative, we are also partnering with local and state chamber of commerce, associations, and corporate partners to offer custom webinars and Q&A sessions.
Use this interactive state map to navigate the different guidelines, timelines, and other important information for businesses starting to reopen amid the pandemic.
The CARES Act allocated $350 billion to help small firms keep workers employed. Called the Paycheck Protection Program (PPP), the initiative provides 100% guaranteed loans that can be forgiven if borrowers maintain or restore payrolls.
Download this step-by-step guide to calculate your PPP loan forgiveness amount, navigate record-keeping requirements, and determine repayment terms on amounts not forgiven.
The CARES Act expanded the SBA’s long-standing Economic Injury Disaster Loan Program (EIDL), which includes additional loan programs and $10,000 emergency grants.
The CARES Act created a new employee retention tax credit for employers that are closed, partially closed, or experiencing revenue losses as a result of COVID.
Congress has created new temporary paid sick leave and paid Family and Medical Leave Act (FMLA) programs that are 100% reimbursable by the federal government.
If you are an independent contractor or self-employed individual, you may be eligible for Paycheck Protection Program (PPP) loans/grants, SBA’s Economic Injury Disaster Loans (EIDL), and/or Unemployment Compensation for lost income.
As a result of the CARES Act, the Federal Reserve created the Main Street Lending Program to provide a total of $600 billion in financing for small and medium-sized businesses. Check eligibility, calculate borrowing parameters (loans start at $500,000), and learn how to apply for one of the program’s three new lending facilities using this guide.Thank you to Facebook, our partner on these guides and resources. Visit the Facebook Business Resources Hub for more resources and information.
We are fighting for legislation, executive actions, and other government efforts to support small businesses devastated by the pandemic – ensuring that financial aid and support programs are both available and accessible.
The U.S. Chamber played a central role in shaping and securing passage of the CARES Act, including the law’s unprecedented small business emergency loan programs and other relief measures. We then worked to ensure that Congress re-funded the Paycheck Protection Program (PPP) and allowed flexibility in its implementation.
We are now working to ensure Congress continues to pass targeted, temporary, and timely assistance as Main Street companies begin the long road to recovery, including:
- Increasing financial assistance for small businesses
- Expanding access to government loan programs
- Simplifying tax provisions for small businesses
Stimulus measures in the CARES Act have helped, but more must be done to assist small businesses, their employees, and their communities. Learn more about the specific legislative proposals that the Chamber is urging Congress to consider.
In partnership with MetLife, we have transformed the quarterly Small Business Index survey into a monthly Small Business Coronavirus Impact Poll. The online survey of 500 small business owners provides insights on the pace of recovery and which small businesses need the most support.
One in Four Small Businesses on Brink of Permanent Closure, Half Eyeing Temporary Shutdown - April Report
Small Businesses Adopt New Practices Due to Coronavirus Closures - May Report
Most Small Businesses are Now Open in Some Capacity, but Growing Number Believe Recovery Will Take More than Six Months - June Report
Small Businesses See Grounds for Cautious Optimism But Many Are Preparing for a Coronavirus Resurgence - July Report
SAVE SMALL BUSINESS FUND
The Save Small Business Fund is a way for larger businesses and philanthropies to help the small business community suffering from the impacts of the COVID-19 pandemic. This fund is the result of a few of those corporations and foundations (Vistaprint, Merck, the S&P Global Foundation, and Travelers) stepping up to help the small employers who have been hit hardest by the shutdowns.
Grants have already been awarded to employers in 50 states, DC, and Puerto Rico.
Because of the high demand, the Foundation is no longer accepting applications, but they continue to make new awards to the small businesses that have already applied as new funds become available.
If your company or foundation is interested in contributing to the Fund, please contact us.
CALL TO ACTION
We are calling on the larger business community to marshal any available resources, talent, and unique capabilities to help small businesses in any way they can.
Recognizing that many midsize and larger companies have also been hit hard by the pandemic, we are developing recommendations for those that are able and looking for more ways to assist small businesses.
Suggestions for consideration include:
- Contribute to the Save Small Business Grant Fund
- Host regular virtual information sessions and distribute guidance and financial aid information to small business vendors, customers, suppliers, and partners
- Prioritize accounts payable processing for small business vendors and suppliers
- Provide lines of credit to small business suppliers that are struggling
"Small businesses touch every family and every block of every town across America. And they need our help right now."
U.S. CHAMBER OF COMMERCE PRESIDENT