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The $2 trillion stimulus package signed into law is the largest emergency aid package in U.S. history. It has provisions that help workers, small businesses, and different U.S. industries that are struggling during this pandemic. We wanted to take a closer look at what the stimulus package will do to help small businesses.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act creates a $350 billion loan package that is designed to help small businesses while encouraging them to avoid layoffs. The loan is forgivable and does not need to be paid back during what is called a “covered period.”  This period is eight weeks, chosen by the small business owner and the lending agency, between Feb. 15, 2020 and June 30, 2020. But, if a small business needs to lay off employees during the covered period, the amount of the forgivable loan will be reduced proportionally. If a small business reduced its workforce by half, the loan amount would be reduced by 50%. However, if all employees are rehired at their full salaries by the end of June, there would be no reduction of the loan.

Here are some other key points of the legislation as it relates to small businesses:

• Any business with fewer than 500 employees is eligible for the loan.
• The loans are tax-free and payments are deferred for one year.
• The maximum loan amount a business can receive is $10 million, depending on how much the business paid its employees in January and February.
• Self-employed individuals, sole proprietors, and independent contractors also are eligible.
• Priority will be given to businesses in under-served and rural markets, including women, socially and economically disadvantaged individuals, veterans and members of the military community, and businesses that are less than two-years-old.
• All operating costs, including payroll, utilities, mortgage, rent, and debt payments, are included.

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For reference, we are including the full text of the legislation.

Our blog, SBA Disaster Assistance Loans Available to NC Small Businesses, also provides helpful resources and information for businesses dealing with the impacts of COVID-19.

Wake County Board of Commissioners Chairman Greg Ford signed a proclamation that puts a stay-at-home order in effect in Wake County starting Friday, March 27 at 5 p.m. It remains in effect until April 16 at which time the county will re-evaluate the situation and determine if an extension is in order.

“If we’re serious about protecting our community, we need to get serious about staying at home, so we can slow the spread of COVID19,” said Chairman Ford. “That’s why we moved swiftly to implement this measure. Our short-term sacrifices can mean very literally the difference between life and death for some of our residents – and it would be irresponsible not to act.”

What is Not Allowed under the Proclamation

The stay-at-home order includes the following mandates:

• All non-essential facilities, services, operations, and retail businesses must close.
• Gatherings of any size are prohibited.
• People of any age with medical conditions should not leave their homes except to get medical care.
• Social distancing must be practiced while in public.
• Public transportation should only be used if necessary. If public transport is a person’s primary way to get around, they should abide by social distancing best practices, standing and sitting at least six feet apart and using sanitizing products.

 
What is Allowed under the Proclamation
 
The stay-at-home does not restrict activities such as:

• Shopping for food at the grocery store or picking up take-out meals from a local restaurant
• Operating businesses that provide critical services like hospitals, government agencies and financial institutions
• Caring for a family member or pet in another household
• Providing childcare for parents who have to go to work at jobs that are considered essential
• Using plumbers, electricians, exterminators, and others who help maintain the safety and sanitation of residences
• Visiting a local park, greenway, or nature preserve while practicing social distancing

 
Wake County also has set up a dedicated phone line – 919-856-7420 – to address business-specific questions related to the stay-at-home order. In addition, special FAQs focused on the business community are posted on the county’s COVID-19 webpage. You also can find answers to business-related questions on our Response Raleigh Chamber page.
 
Our President and CEO Adrienne Cole released this statement in response to the Wake County stay-at-home order:
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“We support the stay-at-home order issued today by Wake County leaders in an effort to slow the spread of the coronavirus in our community and state. We recognize the need for this action to avoid overwhelming area hospitals and healthcare workers and to protect the most vulnerable in our community.”
 
“We also recognize the real hardship this is creating for area businesses and employees, as well as the impact it is having on our economy and livelihoods. At the Raleigh Chamber, we are committed to supporting our business community. Our Response Raleigh Chamber website was created to provide answers to questions many are facing. It is updated regularly to include new information important for your company. You also may ask direct questions through the website and we will respond promptly.”
 
“For more information on the details of the stay-at-home order and what types of companies are impacted, please see their website.”

When we scroll through our news feeds these days, we see stories documenting the struggles that many of us are facing from the impact of COVID-19. But, there also are uplifting stories that show the vitality of our community! For example, when we heard what Raleigh Denim is doing in response to a growing need among healthcare providers, it brightened our day!

Raleigh Denim currently is making filtration masks for health workers on the front line. News outlets across the country have documented the pressing need for these masks. Raleigh Denim and its founders, Sarah Yarborough and Victor Lytvinenko, are doing their part.

Sarah and Victor posted an update on the Raleigh Denim website. They wrote, “We haven’t talked a lot about how this pandemic has affected Raleigh Denim Workshop and want to share a little here. We have lost all of our wholesale orders for the year. This is almost enough to put us under, but we’re determined to find a way forward. We, along with Rosando, Terry, McCall, and Esther, are working the machines at a safe distance apart. (Check the inside of your jeans. These four jeansmiths have been with us for over eight years.)”

Despite that, they added that making the filtration masks is their “focus for the moment.” Sarah Yarborough and Victor Lytvinenko are part of what makes our community so great. If you can, we encourage you to support Raleigh Denim and all of our great small businesses that are part of the fabric of this community.

Sarah and Victor wrote, “Like many businesses in our community, our lifeline right now is you. So, for now and the foreseeable future, in an effort to keep some machines moving and to keep some jeansmiths employed, we are going to mark down everything on the site 20%.”

“We’re offering free shipping both ways, and free FaceTime consults to help you find the best fit and discuss fabrics/details. Please take us up on it. We can connect even though we’re remote!”

“When this is over, we want Raleigh Denim to still be here. With your help, we can do it.”

“With much love and thanks, Victor + Sarah.”

We want to be the ones to thank you, Victor and Sarah.

Please check their website if you want to shop or set up an appointment by emailing holler@raleighdenim.com.

​You also can check out the Visit Raleigh Insider page for stories about how you can continue to support local businesses, museums, and attractions. Visit Raleigh also is sharing how other small businesses from our community are helping during this time of need.

We want to hear from you. Please let us know if you know of a similar story of a business or organization doing good in our community during this difficult time. Let’s make sure that we share all of the wonderful things that are happening, too!

Together, we’ll get through this!

On Monday, March 23, we launched a Response Raleigh Chamber website to help guide the community during the COVID-19 crisis. We created the site to serve as a central location for helpful information and resources. On it, you can find key information for businesses on the following topics:

• Employee/workplace health and wellness
• Education
• Finance
• Government
• Legal
• Hiring
• Operations
• Unemployment

The site also features an information request form. If you do not find the information you are seeking, please complete the information request form and we will be in touch with additional resources or guidance.

COVID-19 is having a fast and evolving impact on businesses of all sizes. During this uncertain time, there is one thing that is certain: we are here to help support you.

You can access the site by visiting https://response.raleighchamber.org/

On Sunday afternoon, March 22, Wake County leaders held a press conference in which they outlined new safeguards to help slow the spread of the coronavirus. We are sharing with you the key points of that announcement. We also are providing a list from Wake County of answers to some frequently asked questions.

​These safeguards will remain in effect through April 30.

• All fitness centers, gyms, hair and nail salons, spas, tanning, massage, and tattoo salons, and other grooming services must close. Wake County pointed out that it is too difficult for these places to operate and observe social distancing practices, as recommended by the state and the CDC.

 

• Wake County also is prohibiting large gatherings of 50 people or more in one place. That includes auditoriums, theaters, conference rooms and any other confined space – both indoors and outdoors. This move is directly in line with guidance from Governor Cooper and state health officials to maximize our opportunities for social distancing. It does not include critical services like hospitals, government operations, banks, and retailers that provide the essentials like grocery stores, pharmacies, pet stores and hardware stores.
  
  
• There is a webpage – www.wakegov.com/covid19  – that lists different types of businesses and gives examples of which ones could stay open under the new declaration and which ones should shut their doors.

 

• There also is a special phone line that business owners can call with questions about this process. The number is 919-856-7420. It’s live now, and Wake County staff will answer calls from 8 a.m. to 8 p.m. seven days a week.

 

• The Raleigh Chamber and Wake County Economic Development also are teaming up with Wake County to assist the businesses who are affected by this change. We’ve agreed to post information on our websites that will inform businesses about opportunities for financial assistance, offer communications and technology tools, and share resources about COVID-19.
  
  

• Another area addressed by the amendments to the State of Emergency declaration is local nursing homes, long-term care facilities, and assisted living centers. To protect them and the staff who care for them, these facilities must stop hosting gatherings – like social events – where visitors and residents would be closer than six feet apart. That includes dining areas. Residents of nursing homes, long-term care facilities, and assisted living centers also can only have one adult visitor per day, unless it is an end-of-life situation, and the visit must take place in the resident’s room.
  
  
• Visitors must be screened for fever of 100.4-degrees or higher, a cough and difficulty breathing before they can enter the building. Then, they must show ID, sign a visitor’s log and provide contact information in case our Public Health Division needs to reach them. Volunteers at nursing homes, long-term care facilities and assisted living centers must also be screened for COVID-19 symptoms.

 

• The new declaration also prohibits Wake County residents from using publicly and privately-owned or HOA playgrounds. The action does not include backyard playground equipment or other amenities at parks and open space areas such as greenways and walking trails. They are open for use, and Wake County encourages residents to continue biking, hiking and running on them while following good social distancing practices.

 

• Wake County recommends that businesses start doing temperature checks and respiratory screenings for employees before they come into the workplace. The county also asks businesses to consider checking clients for fevers greater than 100.4-degrees and breathing issues before they enter the building. Then, businesses can turn away sick customers and minimize the risk for employees and other clients.

 
Wake County also provided this press release following the announcement on Sunday with additional details and information.

“We truly are all in this together.”

As every business plans its next steps to address the impacts of COVID-19, it’s important to remember these words from Mark Beasley. We truly are all in this together.

Beasley, CPA, professor, and director of the Enterprise Risk Management Initiative at NC State University, delivered a webinar for us to provide important perspectives for businesses facing what has happened and what’s yet to come. We called the webinar, Coronavirus: Impact on Enterprise Risk Management.

The concept of Enterprise Risk Management (ERM) enhances processes for businesses to manage and minimize their risks.

“We need to figure out which risks need to be managed first,” said Beasley. “First, let’s deal with the here and now. Then, once we get through this, we will assess the damage and rebuild for the future.”

Beasley said the goal for businesses should not be perfection. It needs to be safety and survival.

“There will be damage to most businesses,” he said.

The first priority, Beasley said, needs to be figuring out where all of your employees are positioned and ensuring they are safe.

“Think about where they are residing right now,” he advised. “Are they traveling? Do they need to get to safety?”

Right now, many businesses and organizations are finalizing plans to have their employees work remotely for the foreseeable future. Beasley said, in this situation, it is critical that businesses consider how employees are communicating. That includes considering both technology and tone.

“As we think about communicating,” he said, “are we exhibiting compassion and empathy?”

It’s also vital that all key players have access to the technology that they will need in order to communicate effectively.

“Hopefully, in a few weeks, we will be beyond the immediate fire that we are in,” said Beasley.

While we are in our current situation, he advised that businesses do a worst-case scenario, moderate-case scenario, and a best-case scenario to get a sense of the potential range of outcomes.

“Figure out what you need to go right for your business and what are the ways that you can you make it go right,” said Beasley. “Get your people talking. Don’t try to solve this in isolation by yourself. Over-communicate with compassion and empathy.”

If you missed any part of Beasley’s presentation, you can watch the recorded version.

Additionally, the Enterprise Risk Management Initiative website through NC State’s Poole College of Management has a wealth of resources that businesses will find useful during this time of uncertainty. Beasley said there are more than 600 articles and resources. All are free.
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And, remember, we truly are all in this together.

**Update**
 You can watch the recorded version of a webinar that we held with Patrick Rodriguez, SBA senior area manager. He provided a high-level overview of the SBA disaster loan program. http://ow.ly/OPLN50yWy3g


The U.S. Small Business Administration is now offering low-interest federal disaster loans for working capital to North Carolina small businesses suffering substantial economic injury as a result of the coronavirus (COVID-19).
 
SBA customer service representatives will be available to answer questions about SBA’s Economic Injury Disaster Loan program and explain the application process.
 
“Small businesses, private non-profit organizations of any size, small agricultural cooperatives and small aquaculture enterprises that have been financially impacted as a direct result of the oronavirus (COVID-19) since Jan. 31, 2020, may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred,” said SBA Administrator Jovita Carranza.
 
“These loans may be used to pay fixed debts, payroll, accounts payable, and other bills that can’t be paid because of the disaster’s impact. Disaster loans can provide vital economic assistance to small businesses to help overcome the temporary loss of revenue they are experiencing,” Carranza added.
 
Eligibility for Economic Injury Disaster Loans is based on the financial impact of the coronavirus (COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years, and are available to entities without the financial ability to offset the adverse impact without hardship.
 
Applicants may apply online and are encouraged to apply quickly. Loans under $25,000 are unsecured and may be processed in less than eight days. Larger loans are secured, and can take up to 21 days to approve. There is also a five-day disbursement period before payment, and other timing considerations. 
 
The following information will be required:

• Completed SBA loan application (SBA Form 5 or SBA Form 5C for sole proprietorships)
• Tax Information Authorization (IRS Form 4506T) for the applicant, principals, and affiliates

• Complete copies of the most recent federal income tax return
• Schedule of Liabilities (SBA Form 2202)
• Personal Financial Statement (SBA Form 413)
• Other information also may be requested

 
Although a paper application and forms are acceptable, filing electronically is easier, faster and more accurate.  Paper forms are available here. Completed paper applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

**UPDATE** On Monday, March 23, U.S. Small Business Administration Administrator Jovita Carranza announced an additional change to help borrowers still paying back SBA loans from previous disasters. By making this change, deferments through Dec. 31, 2020, will be automatic. Now, borrowers of home and business disaster loans do not have to contact SBA to request deferment.
 
For more information or assistance call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard of hearing may call (800) 877-8339. 

Learn What Resources the SBA Can Provide NC Small Businesses
Tuesday, March 24
3 - 5 p.m.
Join us online on Tuesday, March 24 where you will hear from Patrick Rodriguez, SBA senior area manager. He will provide a high-level overview of the SBA disaster loan program. Register now.
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“Economic injuries and losses to businesses have just begun and will continue through this crisis. Many small businesses have suffered substantial losses and need financial assistance not otherwise available on reasonable terms.”

Those words, written by North Carolina Governor Roy Cooper, are in a letter that he sent to the U.S. Small Business Administration. Gov. Cooper is asking the SBA to execute a disaster declaration to aid our state’s small business owners impacted by the coronavirus.

Businesses across the Triangle—and across the globe—are facing a new normal, at least for the time being. Each of us, in one way or another, must adapt. Social distancing is changing the way we do business. For some businesses, that change is a difficult pivot to make.

The News & Observer reported on the initial impacts to Triangle businesses.

We want you to know that we are here as a resource for our members and the regional business community. These are unprecedented times, but there are options out there for businesses that are struggling.

First, while you make your plans to navigate through the coming weeks and months, it’s important to know the facts about the coronavirus. The Centers for Disease Control and Prevention has provided an interim guidance for businesses and employers to prepare for COVID-19. These are essential strategies for businesses to adopt.

​Separate from the governor’s request, there also are resources currently available through the SBA for those businesses impacted by the coronavirus.

• The SBA’s Economic Injury Disaster Loan Program will provide low-interest loans to small businesses and nonprofits impacted by COVID-19.
• There are a number of ways that the SBA can connect you with a lender.
• The SBA has programs available for businesses with government contracts.
• There are a list of local resources and partners, as well.

Much has changed in the last week and much will continue to change in the coming weeks. But our focus always stays on the well-being of our members and our community. Should you have any questions, please do not hesitate to reach out to us. Together, we will get through this.

Following are articles, information, and tools you can share with your staff and use for your company. We will continue to update this list as we learn more.
 
What is COVID-19 (coronavirus)?
What are coronaviruses and COVID-19?
How COVID-19 spreads
People at risk for serious illness from COVID-19
Symptoms of the virus
 
What Does the State of Emergency Mean?
On March 10, Governor Roy Cooper declared a state of emergency for North Carolina. This action activates the Emergency Operations Center to help agencies coordinate from one location and makes it easier to purchase needed medical supplies, protect consumers from price gouging, and increase county health departments’ access to state funds.
 
Equipping Your Office
Good hand hygiene tips and other common-sense precautions
Strategies from the CDC
OSHA guidelines
World Health Organization videos

Supporting Your Staff
Do not let fear lead to social stigma
Measures to stay healthy
CDC travel guidance
Protect your staff through work practice controls
OSHA recommendations for employees living abroad or traveling internationally
Advice for employers from Society for Human Resource Management

Ensuring Your Business Operations
Prepare for possible disruption
Identifying critical employees and ensuring that work-at-home systems
CDC checklist
Establish a response team
U.S. Chamber guidelines and webinar
North Carolina Department of Health and Human Services practices
OSHA guidelines maintain your business operations
Prepare your supply chain
Emergency remote-working plan
Lead your business through the coronavirus crisis
8 strategies to set up remote work during the coronavirus outbreak
How brand managers should address COVID-19
Coronavirus could force teams to work remotely
Business planning for the COVID-19 Coronavirus
Business Resilience and Continuity Planning Resources

Healthcare Resources
Duke Health
UNC Health
WakeMed Health & Hospitals
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Additional Resources
Wake County Frequently Asked Questions
Questions regarding COVID-19 to Wake County, email covid19.questions@wakegov.com
Wake County public health hotline: 919.856.7044 (multiple languages available)
World Health Organization Myth Busters
North Carolina Department of Health and Human Services Frequently Asked Questions
North Carolina Department of Health and Human Services COVID-19 phone line: 866.462.3821
World Health Organization
Center for Disease Control and Prevention
Restaurants with Takeout and Delivery Services in the Triangle

The well-being of our community and businesses is a priority for us at the Raleigh Chamber. We have been monitoring the situation and collecting information about how to manage the risks.

Noor Bokhari wants to make a difference in people’s lives. As our diversity, equity & inclusivity programming coordinator, she will get that opportunity!

A graduate of the NC State Poole College of Management, Noor works with area businesses and communities to build and enhance their DEI practices.

“Everyone should feel included where they are,” she said. “In this role, I will help create environments where DEI can thrive.”

Noor graduated with a Bachelor’s degree in Business Administration, with a concentration in Marketing. She was involved directly in the DEI efforts at Poole, including marketing events during heritage months.

She grew up in Cary and graduated from Wake STEM Early College High School. Noor loves hiking and the beautiful trails that we have in Wake County.
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We are thrilled to have her join the team!