Covid-19 Resources

COVID-19 Chester County Updates and Resources

To support the Cottrell Center’s network of small and startup businesses in dealing with the effects of COVID-19, we identified valuable information provided by our partners. This list includes COVID-19 related business information, CARES act information, and best business practices.

West Chester University Health Notices:

Health Resources Page

Small Business Resources:

CARES Act – Payment Protection Program

The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses.

Paycheck Protection Program Loans: For small businesses needing funds to pay up to 8 weeks of payroll costs including benefits. May also be used to pay interest on mortgages, rent, and utilities. These are loans that may be fully forgiven.

Program Overview
US Senate FAQs
Information for Borrowers
Information for Lenders
Application

Economic Injury Disaster Loans (low-interest, long-term loans up to $2 million): The first payment is deferred for 12 months. The application has been simplified and can be completed 100% online through the SBA web portal.
EIDL Fact Sheet

Economic Injury Disaster Loan Advance (up to $10,000): The form to apply is part of the Economic Injury Disaster Loan application noted above. If approved, these funds can be used for payroll and other operating expenses and will be forgiven. Businesses that did not originally apply for the advance may apply now.

SBA Express Bridge Loan: 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 be a term loan or used to bridge the gap while applying for SBA Economic Injury Disaster Loan funding.

Current SBA 7(a) loans, 504 loans, or Microloans: Payments will be deferred for 6 months by the lender.
-Existing SBA Disaster Loans (from previous Disaster declarations): Payments have been deferred through Dec. 31, 2020. Although no application for this is needed, businesses are required to stop/restart preauthorized debits for this.

The spread of coronavirus has disrupted economic activity and put significant liquidity pressure on U.S. businesses. To immediately enhance liquidity and support American workers, households, and businesses through this challenging period, Secretary Mnuchin authorized the expansion of two recently launched facilities and the establishment of three new facilities to provide liquidity to the financial system pursuant to section 13(3) of the Federal Reserve Act.

Treasury and Federal Reserve Board Expand Measures to Enhance Liquidity and Flow of Credit to American Workers, Households and Businesses

FAQ’s

Guidance for Employers

Unemployment Compensation

Unemployment Waiting Period Waived
Information for PA Employees Impacted by COVID-19
Unemployment Compensation FAQs
Contact the Unemployment Compensation office

888-313-7284
Live Chat via website

CHESCO Business Impact Assessment

Banks Offering Mortgage Relief

Resources

Partner Resources

Partner Information & Resources

The Cottrell Entrepreneurial Leadership has strong partnership relationships with organizations in the Chester County Eco-System and beyond that can provide guidance, support and information for you and your business.

SCORE of Chester & Delaware County

CHESTER COUNYT ECOMONIC DEVELOPMENT COUNCIL

VISTA.TODAY

GREATER WEST CHESTER CHAMBER OF COMMERCE

CHESTER COUNTY CHAMBER OF COMMERCE

EXTON REGIONAL CHAMBER OF COMMERCE

GREATER PHILADELPHIA CHAMBER OF COMMERCE

WEST CHESTER AREA BUSINESS IMPROVEMENT DISTRICT (BID)

KEIRETSU FORUM MID-ATLANTIC

ANGEL VENTURE FAIR

Guidance for Starting Your Business:

Funding: