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As new resources are made available, we will be updating this list to ensure startups have the information they need, when they need it.  Last updated April 8, 2020.

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COVID19 Resources for Scalable Startups

 

FROM THE SMALL BUSINESS ADMINISTRATION

On April 3, 2020, the SBA issued guidance on the affiliation rules applicable to the Payroll Protection Program (PPP). Also, on April 4, 2020 the SBA released a letter from its General Counsel’s Office addressing these affiliation rules and the exemptions from affiliation created under the CARES Act. Based upon these releases, the affiliation rules applicable to the PPP have been narrowed from the SBA’s previous affiliation regulations.

PAYROLL PROTECTION PROGRAM

Payroll Protection Program (PPP) is designed to provide a direct incentive for small businesses to keep their workers on payroll by providing each small business a loan up to $10 million for payroll and certain other expenses. 

[/vc_column_text][vc_empty_space][rd_line type=”rd_line_bcolor” color=”#1e73be”][vc_single_image image=”31608″ img_size=”full” alignment=”center”][vc_empty_space][rd_line type=”rd_line_bcolor” color=”#1e73be”][/vc_column][vc_column width=”1/6″][/vc_column][/vc_row][vc_row][vc_column width=”1/6″][/vc_column][vc_column width=”2/3″][vc_column_text]FROM THE SBA’S ECONOMIC INJURY DISASTER LOAN PROGRAM

The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue.

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 with less paperwork. 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 loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster loan.

The SBA Debt Relief Program will provide a reprieve to small businesses through 7(a) loans, the SBA’s primary lending program, as they overcome the challenges created by this health crisis.

[/vc_column_text][rd_line type=”rd_line_bcolor” color=”#1e73be”][/vc_column][vc_column width=”1/6″][/vc_column][/vc_row][vc_row][vc_column width=”1/6″][/vc_column][vc_column width=”2/3″][vc_column_text]FROM THE OKLAHOMA CITY SMALL BUSINESS RELIEF FUNDS 

The Oklahoma City Council on March 31, 2020, approved $5.5 million in assistance to help small businesses weather the coronavirus crisis. The city plans to take applications for assistance April 6 through midnight April 17. City officials hope to get the first payments out within seven to 10 days, which would be the last week of April.

[/vc_column_text][rd_line type=”rd_line_bcolor” color=”#1e73be”][/vc_column][vc_column width=”1/6″][/vc_column][/vc_row][vc_row][vc_column width=”1/6″][/vc_column][vc_column width=”2/3″][vc_column_text]FROM THE GREATER OKLAHOMA CITY CHAMBER 

As our community responds to the spread of COVID-19, the Greater Oklahoma City Chamber wants businesses to be able to implement strategies to protect their workforce while ensuring continuity of operations.

While many organizations have pandemic procedures already in place, the resources below can help organizational leaders better understand the implications of COVID-19.

COVID-19 Resources for Businesses and Employees

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Tulsa Respond is helping Tulsa bounce back as fast and as strong as possible by guiding you through the various local, state, and federal assistance programs. Tulsa Responds Link

In partnership with Tulsa Economic Development Corporation (TEDC), the City of Tulsa is dedicating $1.1 million in funds for zero interest loans to provide financial assistance to small business owners and entrepreneurs affected by COVID-19.

TEDC will begin accepting loan applications from local businesses immediately..

To qualify as a small business, applicants must have fewer than 50 full-time equivalent (FTE) employees, have 2019 revenues that did not exceed $5,000,000 and have experienced a decrease in revenue of at least 25 percent between February and March 2020 due to COVID-19. 

City of Tulsa and TEDC Creative Capital: Business Resiliency and Recovery loans

Additional Tulsa resources are available at Tulsa Regional Chamber Resource Link

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McKinsey has published the following article – COVID-19: Implications for business, which is a must read for any leaders, and especially of small business, during this difficult time.

McKinsey Implications for Business

[/vc_column_text][rd_line type=”rd_line_bcolor” color=”#1e73be”][vc_empty_space][vc_column_text]DISCLAIMER: The resources below are provided as information only and should not be construed as medical or legal advice. If you have been exposed to COVID-19 (Coronavirus), or are experiencing symptoms of the disease, call your doctor/medical professional. We suggest that you consult an attorney if you have legal questions related to COVID-19, as the links below should be treated as a resource only.[/vc_column_text][/vc_column][vc_column width=”1/6″][/vc_column][/vc_row]