FREQUENTLY ASKED QUESTIONS

The SBA has a number of different resources, including newly-created programs to serve impacted small businesses. Visit the SBA web page to review which options may be best for your small business or nonprofit. The SBA has also streamlined its process requirements for its COVID-19 Economic Injury Disaster Loan Application, found here.


  • The SBA has several options, including two flagship loan programs. In order to determine their best option, small businesses should speak with their lender.
  • The Economic Injury Disaster Loan (EIDL) program. The SBA approved the entire state of Utah as a “disaster area,” allowing eligible small businesses (including agricultural small businesses) and private nonprofits across our state affected by COVID-19 to apply for disaster relief loans. An SBA EIDL loan provides a working capital loan of up to $2 million. More information here.
  • The Paycheck Protection Program (PPP) was established by Congress in the CARES Act and provides 100% federally-guaranteed loans to eligible small businesses and nonprofits. Loan payments are deferrable for at least six months. The maximum loan amount is determined by a business’s average payroll costs, up to $10 million. Portions of the loan may be forgiven if an employer maintains its payroll and employees during COVID-19. More information here.


The Emergency EIDL Grant Program was created by Congress in the CARES Act and advances up to $10,000 of an EIDL loan as a forgivable grant. Emergency EIDL grant recipients are not required to repay the advances, even if they are subsequently denied for an EIDL loan. If a small business receives an EIDL loan, the grant will reduce the amount of such a loan.


  • EIDL loans and grants will be disbursed directly by SBA. PPP loans will be disbursed by existing and newly approved SBA lenders.
  • Many Utah Banks and Credit Unions are already SBA-approved lenders and can choose to participate in the PPP loan program. Speak to your lender or visit the SBA’s Lender Match website to find a qualified lender.


  • An eligible small business, nonprofit, veterans organization, tribal business, independent contractor, sole-proprietors, and other self-employed individuals can qualify for a Paycheck Protection Program loan if the business existed with payroll, self-employment, or independent contractor expenses on or before February 15, 2020 and has fewer than 500 employees or meets SBA industry size standards. Speak to your lender or the SBA to determine eligibility. 
  • Allowable uses of loans include payroll support (employee salary, wages, tips, etc.), insurance premiums, and mortgage, rent, and utility payments.


  • PPP loans may be forgiven for payroll, interest on mortgage payments, rent, and utilities expenses incurred during the 8-week period after the loan is disbursed.
  • The loan forgiveness amount is contingent on several conditions, including maintaining employees. There are limits to the amount that may be forgiven, including restrictions on any compensation above a $100,000 annual salary. Applicants should review and discuss these conditions carefully with their lender.


Businesses may be eligible to receive both EIDL and PPP loans if the loans are used for different expenses. Businesses which already received an EIDL for payroll expenses may refinance the loan into a PPP loan. 


EIDL loans, emergency EIDL grants, and PPP loans are all available to seasonal businesses, and account for the unique characteristics of seasonal employers.


FEDERAL RESOURCES

SBA

The Small Business Administration has a number of different resources, including new programs created under the CARES Act. This includes its Economic Injury Disaster Loan (EIDL) program and the Paycheck Protection Program (PPP).

USDA

The U.S. Department of Agriculture has taken immediate actions to help rural residents, businesses, and communities affected by the COVID-19 outbreak—including its rural services and the H-2A visa program.
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CDC

The Centers for Disease Control and Prevention issued guidance for businesses and employers on how to plan, prepare, and respond to the coronavirus—including cleaning and disinfecting recommendations and employee best practices.
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DOL

The Department of Labor has resources to help workers and employers prepare for COVID-19—including guidance for workplace safety; ​​​​​​​wages, hours, and leave; Unemployment Insurance flexibilities; federal contractors, and more.

IRS

The IRS has established a special section on its website focused on steps to help taxpayers, businesses and others affected by the coronavirus. This includes information on tax deadlines and the distribution of economic impact payments.
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FEMA

FEMA has issued guidance for businesses that are able to provide medical supplies or equipment to the coronavirus response efforts. Information is also available for businesses that are able to start producing a product related to the COVID-19 response.
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On March 24, Governor Herbert released “Utah Leads Together,” a comprehensive task force plan to mitigate the economic consequences of COVID-19. The plan aims to eventually return Utah to the record-setting economic growth it enjoyed before the pandemic. The report and economic playbook include recommendations from dozens of Utah state and industry leaders. More information here. 

  • Beginning March 31, 2020, the Utah Governor’s Office of Economic Development is offering a bridge loan to Utah-based small businesses with 50 or fewer employees impacted by the COVID-19 pandemic. Loan amounts range from $5,000 to $20,000 with 0% interest for up to a 60-month period. More information here.


The Utah Coronavirus Task Force also maintains a page on its website dedicated to resources for businesses.

Utah's Department of Workforce Services continues to closely monitor the COVID-19 pandemic, under the direction of the Governor’s Office. Information and resources regarding services such as Unemployment Insurance, child care, food assistance, and more can be found here

The Utah Small Business Development Centers (SBDC) has compiled "Business Survival Tips to Weather the COVID-19 Storm" and is offering one-one-one management consulting. More information here.

Silicon Slopes Serves has compiled an "Emergency Financial Checklist" for businesses affected by the coronavirus, offering webinars on the process "6 Financial Actions For Business Survival During Economic Crisis," and hosting regular COVID-19 town halls. More information here.

LOCAL RESOURCES

Ogden City’s “Emergency Loan Fund” is available to help companies immediately affected by COVID-19. These loans are intended to support local companies during a short period of economic hardship. More information here.


The Salt Lake City of Economic Development has an “Emergency Loan Program” for businesses in addition to the SBA loan. Downtown SLC Alliance has also created the “Tip Your Server” Project to support Salt Lake City food and beverage workers displaced by the coronavirus pandemic. More information here.


The St. George Area Chamber of Commerce has created the “Greater Together Small Business Resilience Fund” to provide short-term bridge funding for small businesses in Washington County experiencing economic hardship due to the COVID-19 outbreak. The purpose is to help small businesses stay in operation until they are able to apply for small business loans and/or until state and federal assistance becomes available. More information here.

SUPPORTING SMALL BUSINESSES

Ordering curbside pick-up, takeout, or delivery from local restaurants is a great way to support local restaurants:

  • Curbside Utah—This website allows users to find restaurants that are offering delivery and curbside takeout during COVID-19. Visit the site to find a restaurant near you or to register your own establishment.
  • Text-to-Takeout—Silicon Slopes-based tech company Podium has launched "Text-to-Takeout," a platform offered to restaurants at zero-cost that will enable safe online ordering, payment processing, and customer pickup all via text for local restaurants impacted by the pandemic. Participating restaurants can be found here, and businesses interested in registering for "Text-to-Takeout" can do so here.