COVID-19 Resources
The COVID-19 crisis has impacted the US Economy, as well as economies all over the world. As a direct result, businesses have started feeling the impact of this crisis in many ways. Government initiatives have been passed to help support these businesses (such as, but not limited to, CARES and PPP) and various resources and articles have been published online to help entrepreneurs navigate and mitigate some of the issues arising during this unprecedented time.
The resources below are webinars we have held to help our entrepreneurs, slide decks from those webinars, and articles sent to us by our community -- which are not endorsed by MIT or MIT VMS. We hope that this information continues to be useful to our community and our entrepreneurs.
Resource Links
*NEW ADDITION* SBA Releases New PPP Forgiveness Rules and Applications (RichMay) 6/19/20 - https://www.richmaylaw.com/sba-releases-new-ppp-forgiveness-rules-and-applications/
Google Ads Survival Guide for the COVID-19 Crisis 5/7/20 - https://www.prometheusppc.com/blog/google-ads-survival-guide-covid-19-crisis/
PPP TIPS 4/22/20 - PPP just got another $250B. Here are some tips from Accountalent to help! https://www.dropbox.com/s/a73kqpq1i1wy5zp/PPP%202.0%20Blog.pdf?dl=0
Workshare Program (Massachusetts) Accountalent Blog Post, 4/24/20 - https://accountalent.com/startups-not-doing-ppp-do-workshare-it-can-be-a-better-deal-than-ppp/
Employee Rights Information: https://www.dol.gov/sites/dolgov/files/WHD/posters/FFCRA_Poster_WH1422_Non-Federal.pdf
Goodwin Law Writeup: https://www.goodwinlaw.com/publications/2020/03/03_26-us-senate-passes-cares-act
Gunder Law CARES Act Breakdown: https://www.gunder.com/news/cares-act-small-business-loan-program- update-for-venture-backed-companies-and-their-investors/
MassTLC Breakdown: https://www.masstlc.org/covid-19-relief-loans-for-small-businesses/
Morse Law PPP Resource: https://www.morse.law/news/ppp-loan-program-interim-final-rule
Small Business Owners Guide to CARES Act: https://www.angelcapitalassociation.org/data/Documents/Public%20Policy/The_Small_Business_Owner_s_Guide_to_the_CARES_Act.pdf?rev=E169
US Chamber of Commerce Checklist: https://www.uschamber.com/sites/default/files/023595_comm_corona_virus_smallbiz_loan_final.pdf
US Small Business Administration Website: https://www.sba.gov/
MIT VMS Webinar Links and Materials:
The CARES Act: An Analysis/Discussion - What it Means for Small Businesses
Monday, April 6th, 2020
Presented by Ed Pease and Larry Naughton (Mintz)
A hot-topic lately, the CARES Act proposes to help stimulate the economy by providing relief for individuals and businesses impacted negatively by COVID-19. This legislation includes many topics of value for entrepreneurs and businesses. We’re holding this webinar to help alleviate some of the questions and concerns around this newly-signed bill, help our entrepreneurial community, and to help entrepreneurs and small businesses understand the CARES Act. The webinar will address legal and financial implications of the act, including payroll limitations, VC funding of small businesses, how to apply, eligibility, and more. There will be time for Q&A, so please come prepared with your own questions regarding the new act (Link: https://www.govtrack.us/congress/bills/116/s3548/text).
Resource Guide: tinyurl.com/VMSCaresRG
Presentation: tinyurl.com/VMSCaresPresentation
Video: tinyurl.com/VMSCARESVideo
The CARES Act: Paycheck Protection Program Part 2
Wednesday, April 8th, 2020
Presented by Joe Faris (Accountalent)
An important supplement to our previous webinar, The Cares Act: An Analysis/Discussion – What it Means for Small Businesses, Joe Faris sees to explain the mechanics of the Payroll Protection Program (PPP) while giving practical solutions to the application process. In order to help entrepreneurs navigate this misinformation online, Joe Faris will discuss topics such as: the differing topics banks require, what do to if you are a member at a credit union, the first-come, first- serve application process and what that means for you, what to do to avoid high fees and scams during this time, and more. This will be a mostly Q&A based webinar, so please come prepared with your topics for discussion.
Presentation: tinyurl.com/VMSCaresPresentation2
Video: tinyurl.com/VMSCaresVideo2