COVID-19 Business Updates April 1, 2020

Thank you for subscribing to our new emergency information newsletter. We will be sending updates as deemed necessary. We hope that you find these newsletters useful and please know that we value every business in James City County.

If you need to contact us, please email us at yesjcc@jamescitycountyva.gov or call 757-253-6607.

Paycheck Protection Program

The Paycheck Protection Program (PPP) is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. The Small Business Administration (SBA) will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest or utilities. The Paycheck Protection Program will be available through June 30, 2020. PPP loans will be processed by banks and credit unions and guaranteed by the SBA. The Hampton Road Small Business Development Center (SBDC) recommends approaching the bank where you do business.

SBA: https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp
U.S. Department of Treasury: https://home.treasury.gov/cares.

PPP Scams: The Hampton Roads SBDC notes that many companies are offering to process PPP loans, but this is a scam. The only institutions authorized to participate in this program are banks and credit unions that are approved by the SBA.

Approved lenders: https://www.sba.gov/offices/district/va/richmond/resources/virginia-sba-lenders

Families First Coronavirus Response Act

The Families First Coronavirus Response Act requires certain employers to provide their employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. The Department of Labor’s Wage and Hour Division administers and enforces the new law’s paid leave requirements. These provisions will apply from April 1 through December 31, 2020. More information is available at https://www.dol.gov/agencies/whd/pandemic/ffcra-employer-paid-leave.

Upcoming Webinars

There are multiple Small Business Administration webinars on Economic Injury Disaster Loans over the next few days. You must register online to participate. James City County is part of the Richmond District.
https://www.eventbrite.com/o/richmond-district-office-9832468840

COVID-19: Resources for Our Communities Webinars
Virginia Community Capital is partnering with the Virginia Department of Housing and Community Development and Virginia Small Business Development Center Network to host multiple weekly update webinars and office hours, announce new programs and resources and to assist Virginia's business community. Businesses will have an opportunity to receive updates from state leaders on new resources; receive management, finance and marketing tips; and ask questions regarding programs to support Virginia's entrepreneurs. This program will run through May 2020.

Webinars are Fridays at noon and on Tuesdays at 6 p.m. You must sign up to participate.

Business Resources

A comprehensive list of business resources is updated frequently on the Economic Development website.

https://www.yesjamescitycountyva.com/CivicAlerts.aspx?AID=3751

Information Resources

For the most up-to-date information about COVID-19 in our community, please visit James City County's website.
You can also sign up for updates directly to your inbox from the County.
You may also find information from the Governor of Virginia to be helpful at this time.