Coronavirus: Small Business Updates and Resources

coronavirus updates from the SBDC

Latest News (1/15/21)Second Draw PPP loans are available beginning January 13, 2021, for certain businesses who have previously received a PPP loan. The program is scheduled to open to all lenders on January 19, 2021. Visit the SBA for loan details, eligibility requirements and information on how and when to apply.

In addition, the Shuttered Venue Operators (SVO) Grant program was established by The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, signed into law on December 27, 2020. The program includes $15 billion in grants to shuttered venues, to be administered by the Small Business Administration’s Office of Disaster Assistance. Eligible applicants may qualify for SVO Grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million.$2 billion is reserved for eligible applications with up to 50 full-time employees. The program is not currently open. Stay up-to-date by visiting the SBA.


Guides, Tips & Templates:

  • Preparedness Plan for Reopening Template
    This template is designed to help businesses develop and implement a plan for reopening their business, ensuring a safe and healthy workplace for all workers. The template fits the potential needs of different types of businesses.
  • Tips to Prepare for Reopening
    Though your business may be closed, now is the time to start preparing for your next chapter. We recommend you develop a well-thought-out plan for when you can open again. While not all businesses are brick and mortar, many of these tips can be applied to your business. Focusing on the highlighted areas will help make the transition easier for you, your employees, and your customers.
  • Guide to Business Resiliency in Times of Disaster
    Many business owners are wondering what they can do (outside of taking on additional debt) to help meet the challenges of COVID-19. The guide provides suggestions for cash management, pricing and cost containment, supply chain management, and marketing.
  • Small Business Guide to COVID-19
    Tips to do right now to stay afloat, SBA loan programs explained, pro tips, looking ahead, find help.


Work From Home Assessments
Work From Home Assessments: Has your top employee all of a sudden become a challenge? If you are struggling to manage your work-from-home team, this free assessment can help you capitalize on your teams’ strengths. Each report contains a personalized communication style page, tips for working remotely based on their dominant communication style, and four pages of communication tips for working with other styles remotely.

COVID-19 Survival PlansCOVID-19 Preparedness Plans: Business as usual may be a thing of the past. Professional consultants are available to assist with detailing how you will implement the following, at a minimum: infection prevention measures; prompt identification and isolation of sick persons; engineering and administrative controls for social distancing; housekeeping, disinfecting and decontamination; communications and training for managers and workers; and provision of management and supervision necessary to ensure effective implementation of the survival plan.

Student TeamsStudent Teams: Working with Student Teams is a mutually advantageous situation for all parties involved. Each project is assigned a Florida SBDC at USF business consultant to oversee the project. This program lasts one semester. During the semester, the student team will prepare an individualized product, based on the business’ needs and selected team.

Expanded Consulting ServicesExpanded Consulting Services: The Florida SBDC at USF has brought on additional staff to serve small businesses during the pandemic recovery. Expanded consulting services include the following specialty areas: accounting, contracts, finance, insurance, organizational development, and taxes.

Fees Waived: All fees for businesses that qualify for DISC Assessments (up to 15 assessments) and Export Marketing Plans are currently waived.

WebinarsOn-Demand and Live Webinars:  While our face-to-face seminars have been suspended until further notice, we are offering additional learning opportunities via our on-demand webinars and live webinars. These short on-demand webinars will give you strategies you can implement in your business immediately. Want more detailed information after watching a webinar? Contact us to schedule a no-cost consulting session as a follow up. All webinars are currently being offered at no cost.


Passed by Congress and signed by the President, the Coronavirus Aid, Relief, and Economic Security (CARES) Act tasks the U.S. Small Business Administration (SBA) with overseeing the distribution of millions of dollars in loans and grants to help small businesses survive the COVID-19 pandemic. It also provides additional funding for SBA’s resource partners to provide advice and training to help small businesses respond to the unprecedented challenges in communities throughout the country.

A Comparison of Small Business Disaster Loans Available Through the CARES Act

Second Draw PPP details are identified accordingly below.

Paycheck Protection Program



Economic Injury Disaster Loan (EIDL) and Advance Grant

Short-term, potentially forgivable loans to eligible small businesses that retain employees, maintain payroll, and use for other allowable operating expenses.PPP loans are administered and approved through SBA-certified lending institutions.



Long-term, low-interest working capital disaster loans for small businesses that suffered substantial economic injury due to COVID-19.

EIDLs are administered and approved directly by the SBA.

Amount: Lesser of 2.5x average monthly payroll costs, or $10 million
Interest and Terms: 1% for a term of two years for any amount not forgiven
Collateral: None
Personal Guarantee: None


Amount: Up to $150K
Interest and Terms: 3.75% for a term up to 30 years
Collateral: Loans of more than $25,000
Private small businesses that have less than the greater of—

  • 500 or fewer employees whose principal place of residence is in the United States, or
  • SBA employee or revenue-based size standards for the industry that the business operates.

Accommodation and Food Service (NAICS 72) businesses based on per location.

Second Draw PPP Loans are available for any business that:

  • 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



Private small businesses that meet SBA employee or revenue-based size standards for the industry that the business operates.
Eligible—Limited to the amount spent on payroll costs and allowable operating expenses during the eight-week period beginning on the date of the origination of the loan.At a minimum, 60% must be expended on payroll costs to be forgiven.

Click here to view the EZ Forgiveness Application.

Click here to view the Full Forgiveness Application.

Click here to view the new Simpler Forgiveness Application.



The EIDL loan is not forgivable, however, you may apply for an EIDL loan advance, which you do not have to pay back. Applicants may request at the time of application a loan advance of up to $10,000 ($1,000 per employee). Approved borrowers will have the advance deducted from the total principal and forgiven for applicants not approved for an EIDL.
Proceeds may be used to pay payroll costs, mortgage interest, rent, utilities, and interest on pre-existing loans.



Proceeds may be used to pay fixed debts, payroll, accounts payable, rent, utilities, and other bills that cannot be paid because of the disaster’s impact.
You can apply for a Second Draw PPP Loan from January 13, 2021, until March 31, 2021.



December 31st, 2021
Contact your local bank, credit union, or other SBA-certified lender to apply or for more information. Applicants can download a copy of the PPP borrower application form to see the information that will be requested when you apply with a lender.

Second Draw PPP application form.

Apply Now


Apply online directly with the U.S. SBA at

Note: You can apply for both PPP and EIDL—you just can’t use the funds for the same purpose.


Small businesses are encouraged to look into other Federal relief programs that are made available thanks to the passage of the CARES Act. Additional funding opportunities may arise through the State of Florida or local county entities, as needed. Speak with a Florida SBDC at USF consultant for details.

SBA Debt Relief

The SBA’s Debt Relief Program provides immediate relief for new and existing borrowers of SBA’s regular loan guarantee programs. For existing borrowers with a regular 7(a), 504 or micro-loan, SBA will automatically make payments on your behalf for a period of six months. For new borrowers, SBA will automatically cover payments due prior to September 27, 2020. Debt relief is automatic, but you should check in with your lender. Under the new law, the SBA is directed to make payments within 30 days of the date on which the first payment is due. For more information about the Debt Relief Program, click here.

SBA Serviced Disaster Loan Debt Relief

For current SBA Serviced Disaster (Home and Business) Loans, if your disaster loan was in “regular servicing” status on March 1, 2020, the SBA is providing automatic deferments through December 31, 2020. Learn more about this debt relief program by clicking here.

SBA Express Bridge Loan Pilot Program

The SBA’s Express Bridge Loan Pilot Program allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loan or used to bridge the gap while applying for a direct SBA Economic Injury Disaster Loan (EIDL). If a small business has an urgent need for cash while waiting for a decision and disbursement on an EIDL, they may qualify for an SBA Express Disaster Bridge Loan. Click here to learn more about the Express Bridge Loan Pilot Program.

Other SBA Lending Options

The 7(a) loan program is the SBA’s primary program for providing financial assistance to small businesses. The terms and conditions, like the guaranty percentage and loan amount, may vary by the type of loan. For information on other traditional SBA lending options, click here.

Employee Retention Tax Credit (ERTC)

The Employee Retention Credit is a refundable tax credit for employers equal to 50 percent of qualified wages (including allocable qualified health plan expenses) that eligible employers pay their employees. This Employee Retention Credit applies to qualified wages paid after March 12, 2020, and before January 1, 2021. The maximum amount of qualified wages taken into account with respect to each employee for all calendar quarters is $10,000, so that the maximum credit for an Eligible Employer for qualified wages paid to any employee is $5,000. Click here for more information about the ERTC.


Florida Department of Health Covid-19 Website

Information and guidance regarding COVID-19 in Florida.

For questions related to COVID-19 in Florida, individuals and business can contact the Florida Deparment of Health dedicated COVID-19 Call Center by calling (866) 779-6121. The Call Center is available 24 hours a day. Inquiries may also be emailed to

FloridaDisaster.Biz Website: Business Damage Assessment

Information regarding business preparedness, recovery, online training, links and news. The Business Damage Assessment is open for COVID-19. If your small business has been impacted, please complete the survey.

Short Time Compensation Program for Employees | Florida Department of Economic Opportunity

Reemployment Assistance | Florida Department of Economic Opportunity


U.S. Small Business Administration Emergency Preparedness and Disaster Assistance

These resources can help small businesses develop a plan to protect their employees, lessen the financial impact of disasters, and re-open for business quickly to support the economic recovery of the community.

The Three Step Process: SBA Disaster Loans

While disaster loans have not been activated yet, small businesses can prepare by getting the appropriate documents gathered, using this PDF.

SBA Disaster Assistance in Response to Coronavirus (COVID-19)


Comprehensive and customized business disaster preparedness planning information, materials and training videos

Federal Resources for Small Business | America’s SBDC