Virginia Chamber of Commerce Weekly COVID-19 Update: April 17, 2020
A Message from the Virginia Chamber of Commerce President:
Earlier this week, Governor Northam announced the extension of Executive Order 53 through Friday, May 8. EO53 bans crowds of more than 10 people, mandates certain non-essential businesses to close or restrict operations, and limits restaurants to offering takeout and delivery services only. More information on the extension and what it means for your business can be found below.
While the extension of EO53 comes as distressing news for many of our business, the Chamber encourages members of our community to support small, local businesses and their employees during these unprecedented times. You can make a big difference for the lives of small business owners. Tips on how to support your local businesses can be found on the Chamber’s COVID-19 Resource Center.
Next week, the Virginia Chamber will be releasing recommendations on getting Virginians back to work. We will provide short- and long-term policy recommendations to get the Virginia economy moving in a safe and responsible way. Stay tuned for more details.
The General Assembly will return to Richmond next week for Reconvene Session, and I want to provide an update on legislation important to small businesses. At a time when the business community faces unprecedented economic headwinds, we believe it is more important than ever to support our small businesses by lowering the costs of providing health care coverage. Senate Bill 861 would allow small businesses to come together as a single large pool, though benefits consortiums, to spread risk, reduce costs, and obtain lower premium rates than existing small group coverage. We estimate that the average Virginia small business, which has six employees, could save 15 to 20 percent – about $20,000 annually – in health care premiums through benefit consortium plans in comparison to plans on the existing small group market.
While Senate Bill 861 received broad support in the General Assembly, the Governor has amended this legislation to include a re-enactment clause for the legislation to be reconsidered during the 2021 General Assembly session. In light of the ongoing COVID-19 outbreak, the creation of benefits consortiums cannot be delayed when small businesses are struggling to make payroll and provide benefits for their employees. Yesterday, I sent a letter to members of the General Assembly strongly urging them to oppose the Governor’s harmful amendment to SB 861.
Take action now by following this link to contact members of your local delegation and ask them to REJECT the Governor’s amendment to SB 861 and help get this vital resource in the hands of our small businesses.
The Virginia Chamber remains committed to providing the business community with the most up-to-date COVID-19 information and resources. For more information, please visit the Virginia Chamber COVID-19 Resource Center.
Best regards,
Barry DuVal
President
Virginia Chamber 2020 Event Updates
Due to the COVID-19 crisis and ever-evolving situation, the Virginia Chamber made the decision last week to postpone all of our scheduled events for the spring. We have secured new dates for each of these events later in the year.
Please find below an updated tentative event calendar for the fall months. Additional details on each event with be released in the coming weeks.
SAVE THE DATE
August 19
Virginia Veterans & Military Affairs Conference
September 17
Virginia Conference on Energy Diversity & Corporate Sustainability
October 7
Virginia Health Care Conference
October 27
Virginia Education & Workforce Conference
November 5
Virginia Chamber Annual Dinner
December 4
Virginia Economic Summit
Governor Northam Extends Business Closures for Two Weeks to May 8th
Governor Ralph Northam announced that he will extend Executive Order Fifty-Three for two weeks, through Friday, May 8, 2020.
Executive Order Fifty-Three originally signed on March 24, bans crowds of more than 10 people; closes recreation, entertainment, and personal care businesses; and limits restaurants to offering takeout and delivery services only.
Read the full press release here
EO 53, places restrictions on the following three categories of businesses:
- Recreational and entertainment businesses, like bowling alleys and movie theaters, must close;
- Restaurants and other businesses providing food and beverage services, like breweries and wineries, may only offer takeout and delivery services, as long as they are able to comply with social distancing and hygiene requirements; and
- Non-essential brick and mortar stores may stay open as long as they restrict their stores to 10 patrons or less, not including staff, and comply with social distancing recommendations.
Professional businesses not listed above must utilize telework as much as possible. Where telework is not feasible, such businesses must adhere to social distancing recommendations, enhanced sanitizing procedures, and apply relevant workplace guidance from state and federal authorities, including CDC, OSHA, and the Virginia Department of Labor and Industry.
All businesses deemed essential, and guidelines for operating during the pandemic can be found in Executive Order 55 and Executive Order 53.
Upcoming COVID-19 Webinars
Visit the Virginia Chamber COVID-19 Resource Center for a weekly overview of the available webinars for the business community.
Virginia Chamber members are encouraged to share any additional webinar resources and opportunities that should be highlighted in this section by contacting our team at policy@vachamber.com
U.S. Chamber: Save Small Business Fund
To extend a helping hand to small businesses suffering from the impacts of the coronavirus pandemic, the U.S. Chamber of Commerce Foundation – in partnership with Vistaprint and a coalition of supporting companies, foundations, and philanthropic donors – is working to provide financial relief through the Save Small Business Fund.
The Fund is providing $5,000 in short-term relief to employers across the United States, including chambers of commerce. These one-time supplemental cash grants are for businesses that have between three and 20 employees and operate in an economically vulnerable community.
The grant application will go live on Monday, April 20 at 12:00 PM PT/3:00 PM ET. To learn more about the Save Small Business Fund and to apply for a grant, visit www.savesmallbusiness.com
SBA Resources: Sustaining Business and Nonprofits
Paycheck Protection Program (PPP) — use the Lender Match tool to find lender where can apply. Entities can obtain zero-fee loans up to $10 million running from February 15, 2020 through June 30, 2020. Up to 8 weeks of average payroll will be forgiven if the business retains its employees and their salary levels.
Emergency Economic Injury Grant — use the Economic Injury Disaster Loan application. It includes $10 billion to provide an advance of up to $10,000 for businesses and nonprofits that apply through SBA within 3 days.
Small Business Debt Relief Program — use the Economic Injury Disaster Loan application. Once an entity applies for EIDL, the SBA has three weeks to respond. EIDLs are loans up to $2 million with interest rates of 3.75% for businesses and 2.75% for nonprofits. If an entity receives the loan January 31 to June 30, 2020, it can apply for a PPP loan or refinance for PPP.
Paycheck Protection Program (PPP) Information Sheet
The U.S. Department of Treasury shared new information regarding the Paycheck Protection Program. Please review the resources provided by the U.S. Department of Treasury below and visit their webpage for additional information.
- A top-line overview of the program can be found here.
- If you’re a lender, more information can be found here.
If you’re a borrower, more information can be found here.
