The City of Nampa knows COVID-19 has a large impact on the small businesses in our community. This page provides information and links for programs and services that may be helpful for small businesses that are significantly impacted by the COVID-19 pandemic. Below are local, non-profit, state and federal resources that may be helpful to you.
* Information is changing daily and subject to change. We will continue updating this page as more resources develop.*
UPDATE CARES FUNDING JANUARY 2021
The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13.
Who is eligible for the new PPP 2.0 Loans?
Many small businesses and independent contractors can be eligible for the new PPP loans. Small businesses can even qualify for a second loan if you received funds in the first round of PPP. New applicants are also welcome to apply as long as they qualify.
Eligible small businesses may include:
- Small businesses, nonprofit organizations, veterans organizations, Tribal business concerns, and small agricultural cooperatives that meet the SBA size.
- Sole proprietors, self employed individuals or independent contractors.
- Certain news organizations, destination marketing organizations, housing cooperatives, and 501(c)(6) nonprofits may now also be eligible.
In addition, this round of assistance is meant to target smaller businesses impacted by COVID-19. As a result, applicants who qualify generally must also meet the following criteria:
- The business may not have more than 300 employees and
- The business must have at least a 25% reduction in revenues in at least one quarter in 2020 when compared to previous quarters (more details below)
Business that received the first PPP loan must have used, or plan to use, their full PPP loan already received.
This program is primarily intended to keep employees (including the business owner or independent contractor) on payroll and to pay other specific expenses.
To obtain full forgiveness, borrowers will need to spend at least 60% of loan proceeds funding on payroll (compensation of up to $100,000 per employee plus payment of certain group benefits which are now defined to also include group life, disability, vision, or dental insurance).
Borrowers may spend up to 40% on other qualified expenses, during the covered period. This list of eligible non-payroll expenses has been expanded to include:
- Mortgage interest
- Covered operations expenditure
- Covered property damage cost
- Covered supplier cost
- Covered worker protection expenditure
ECONOMIC INJURY DISASTER LOANS (EIDL)
Businesses that applied for an EIDL earlier in 2020 that meet the qualifications may receive the full $10,000 grant that will minus any amount already received even if their EIDL applications were not approved.
To qualify for the full $10,000 EIDL grant businesses have to be:
- Be located in a low-income community, and
- Have suffered an economic loss greater than 30%, and
- Employ not more than 300 employees business and must qualify as an eligible entity as defined in the CARES Act:
- A small business, cooperative, ESOP Tribal concern, with fewer than 300 employees
- An individual who operates under as a sole proprietorship, with or without employees, or as an independent contractor; or
- A private non-profit or small agricultural cooperative.
- The business must have been in operation by January 31, 2020
For more information on the EIDL loans click here Economic Injury Disaster Loans (EIDL)
Toolkit for Businesses during a Crisis- The toolkit provides some important ideas for business to consider during a crisis that can provide the data and information needed to respond the changing environment.
Guide to help Small Business be resilient during COVID-19- This guide developed by the Small Business Development Center helps businesses identify areas in business practice that can adapt or needs to be reviewed during this pandemic
Nampa Chamber of Commerce -The Chamber will continue to work hard and are here to assist businesses. Join the Chamber’s NEW Facebook group where you can share what you are doing to stay open, see what others are doing, and how you can support Nampa businesses.The Nampa Chamber is committed to providing you with updated information that we hope will be helpful to you as you continue to put the pieces of this puzzle together. Below are a few core links that can be helpful to you. We will update you as necessary and continue to update our COVID-19 page on Nampa.com.
Main Street America- Nampa is one of four cities in Idaho to be a Main Street America community. Main Street America information provides resources for small business from remote event planning to data gathering and promotions to run during the COVID-19 pandemic.
Small Business Development Centers- Idaho’s Small Business Development Center consultants are available to work with your business, answering questions, providing resources, and advocating for your business to help get through this period. Currently, each of the centers across the state are open for business, although some of them may be virtual by phone or video conference only. Please request an appointment here.
Unemployment Webinar and information for Employers- Idaho’s SBDC webinar on really helpful information for unemployment and the programs that are available during COVID-19
Kevin and Mary Daniels Fund- Businesses located in the historic district of Nampa are eligible to apply for the Kevin and Mary Daniels fund provide 0% interest loans to business and building owners to support highly visible improvements to buildings and storefronts in the Nampa Historic District. Eligible projects include, but are not necessarily limited to: awnings, canopies, storefronts, paint,doors, landscaping, exterior lighting, window repair, masonry work and signage.
Internal Revenue Service- The IRS has established a webpage focused on steps to help taxpayers, businesses and others affected by the coronavirus. Please click on the link above to see update deadlines for taxes and new releases.
Families First Coronavirus Response Act- This bill responds to the coronavirus outbreak by providing paid sick leave and free coronavirus testing, expanding food assistance and unemployment benefits, and requiring employers to provide additional protections for health care workers.