Coronavirus & Your Business

We are here to help you navigate the relaunch and recovery of your small business. Let us assemble a rapid response team of experts for you.

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Last Updated: 8/3/2020

    Webinars to guide you through the response, relaunch, and recovery of your small business. Learn more.

    What you need to know about the Paycheck Protection Program. Information updated regularly.

    What you need to know about the Paycheck Protection Program. Information updated regularly.

     

     

     

     

     

     

    NEW: PPP APPLICATION VIDEOS

    PPP Forgiveness Application Walk-Through VideosOne program, two forgiveness application forms. Which form is right for your business? Where do you find the forms? How do you fill out the applications properly? Watch videos here.

    TO-DO LIST:

      PREPARE FOR REOPEN

      MANAGE CASH FLOW

      • Assess your cash position and future needs. Now is the time to conserve and reduce overhead. Plan to conserve your cash for the next 6-12 months.
      • Talk to your creditors, vendors and suppliers to discuss deferring payments. Do not ignore bills. Plan for your presumed inability to pay rather than waiting until payment is due and you are struggling to find the cash.
      • Do NOT cash out retirement accounts, rack up credit card debt, or take out high-interest payday loans. There are other, less costly alternatives.

            ACCESS DISASTER LOANS & ASSISTANCE

            • Key information on SBA’s Economic Injury Disaster Loan (EIDL) here.
            • Key information on SBA’s Paycheck Protection Program (PPP) here.
            • FAME’s Business & Consumer Relief Programs are here.
            • Talk to your town or city and find out what they are doing for emergency response and relief efforts for small businesses. Inquire about any funds you can apply for at the municipal level.

              OTHER HELPFUL INFORMATION

              • For agriculture-based businesses, visit the Department of Ag’s resources
              • Employee retention credit is designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid. More info here.
              • Federal and State tax filing and payment deadlines extended to July 15, 2020. More info here.
              • Families First Act – This act went into effect on April 1, 2020, and requires business owners to provide paid and sick leave for COVID related business absence. More info here.

              PAST WEBINARS

              • Customer Service During a Time of Crisis (7/15/2020) RECORDING
              • Generate Visibility & Traffic to Your Business (7/1/2020) | RECORDING
              • Business Plan Basics (6/25/2020) | RECORDING
              • Step-by-Step Approach to Reopening (6/24/2020) | RECORDING
              • Best Practices for Manufacturers, Producers & Makers (6/23/2020) | RECORDING
              • Relaunching Your Service-Based Business (5/26/2020) | RECORDING
              • Relaunching Your Retail Business (5/20/2020) | RECORDING
              • Relaunching Your Hospitality Business (5/19/20) | RECORDING
              • Crisis Marketing: Finding Opportunity in COVID (5/6/2020) | RECORDING
              • Preparing to Reopen (4/22/20) | RECORDING
              • Marketing Through Crisis (4/1/20) | RECORDING
              • Navigating Cash Flow During Crisis (3/31/20) | RECORDING

              We know this is an uncertain and challenging time for Maine businesses. You are not alone. Your SBDC business advisor can guide you to current and future resources available. No-cost, confidential business advising is available virtually through email, phone and videoconferencing.

              Request Advising