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SMALL BUSINESS RESOURCE PAGE

As concerns continue about COVID-19, we want to help navigate available resources in our community. Crabtree Valley Mall is not affiliated with any of the listed resources below and is strictly sharing information.

RESOURCES FOR BUSINESSES

We remain committed to the long-term success of our tenants. As we begin to navigate through this situation together, we have provided a comprehensive list of available resources that may help minimize the economic impact on your business.

Financial & Business Resources

Federal and state governments and other organizations have acted quickly in creating programs to aid small and mid-sized businesses and minimize the economic impact of the Coronavirus (COVID-19) pandemic. You are encouraged to research these programs to determine which might be of assistance to your business. We have also included resources to help you monitor the situation in your area and formulate your business’s response.

Not sure where to start? START HERE: Small Business Guide & Checklist. Prepared by the U.S. Chamber of Commerce, this is an overview of emergency loans.

CARES Act

The new Coronavirus Aid, Relief, and Economic Security (CARES) Act has appropriated $376B in funds for small businesses with forgivable loans for up to 8 weeks of payroll & benefit costs.

There are new relief options, which fall under the US Small Business Administration (SBA).

ECONOMIC INJURY DISASTER LOAN EMERGENCY ADVANCE – This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties and a loss of revenue. Funds will be made available following a successful application. This loan advance will not have to be repaid.

PAYCHECK PROTECTION PROGRAM (PPP) – The PPP prioritizes millions of Americans employed by small businesses by authorizing up to $349B toward job retention and certain other expenses. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. The PPP will be available through June 30, 2020.

  • For a FAQ for local Small Business Support, click HERE
  • For an overview of the program, application, and list of participating SBA lenders, click HERE
  • For affiliation rules, click HERE
  • For a program overview by the U.S. Chamber of Commerce, click HERE

SBA EXPRESS BRIDGE LOAN

This loan enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. 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. Will be repaid in full or in part by proceeds from the EIDL loan.

SBA DEBT RELIEF

The SBA is providing a financial reprieve to small businesses during the COVID-19 pandemic. For current SBA Serviced Disaster (Home and Business) Loans: If your disaster loan was in “regular servicing” status on March 1, 2020, the SBA is providing automatic deferments through December 31, 2020.

Financial Resources

U.S. Chamber of Commerce – Five resources from the U.S. Chamber of Commerce that can help you navigate this difficult situation.

U.S. SMALL BUSINESS ADMINISTRATION (SBA) LOAN PAGE – The SBA can provide capital and liquidity to certain businesses that have been affected. The Loans Page provides information for loans guaranteed by the SBA. Use Lender Match to find lenders that may offer loans for your business. The SBA Local Assistance Directory can connect you to several local partners to counsel, mentor and train small businesses. Additionally, the SBA has created a comprehensive Coronavirus page with more resources.

AMERICA’S SBDC – Small Business Development Center – Find your nearest Small Business Development Center to receive free business consulting and low-cost training!

NATIONAL GOVERNORS ASSOCIATION – The National Governors Association website outlines the steps each state is taking to address Coronavirus, including legislative action, along with updates from the Centers for Disease Control.

BANK PROGRAMS – Some banks are offering relief to customers and businesses (list as of 3/12/2020).

FACEBOOK SMALL BUSINESS GRANTS PROGRAM – Facebook is offering $100M in cash grants and ad credits to help small businesses during this challenging time.

YELP HELP – Yelp is offering $25M in relief to restaurants and bars affected by Coronavirus.

BUMBLE BIZZ – Until April 9th, small business owners can submit a request to receive up to $5K in monetary support from Bumble. To apply, head to the Bumble app and match with the Bumble Community Grants profile from any model.

Business Resources

ICSC CORONAVIRUS UPDATE – The International Council of Shopping Centers (ICSC) provides updates for the shopping center industry with U.S. state-by-state business closures and mandates, a summary of legislative action to support relief for small business owners, and various additional resources.

NATIONAL RESTAURANT ASSOCIATION – The National Restaurant Association has launched a nationwide grassroots campaign urging Congress to take immediate action to support the restaurant industry.

NATIONAL BARTENDERS ASSOCIATION – The Bartender Emergency Assistance Program was created based on specific eligibility requirements.

America’s Small Business Development Centers (SBDCs) – America’s SBDC represents a nationwide network of centers available to provide no-cost business consulting and low-cost training to new and existing businesses.

SERVE YOUR CUSTOMERS

CONTACTLESS CURBSIDE PICK-UP & DELIVERY OPTIONS

For some markets, those categories that fall under essential business including restaurants and grocery stores, are coming up with creating ways to provide access to food and beverage. You may consider curbside pickup or delivery, and perhaps shifting your menu to food that people need right now, including family-friendly, shared packaged meals, boxed cookies or kits, and if your state allows it, alcohol or alcohol kits. Delivery service can charge fees from 15-30%, but some may be offering discounts.

Delivery service providers include GrubHubPostmatesDoor DashUber EatsResy. Look into your market for all options.

Pick-Up, Curbside and Delivery Options Available at Crabtree Valley Mall Restaurants.  Find more restaurant details here.

Restaurant details subject to change.

GIFT CARD SALES

Promote and incentivize through gift card sales. Entice purchasers with exclusive offers or discounts (i.e. buy one gift card for someone and receive a bonus gift card for yourself). A study by First Data found that 72% of gift card shoppers spend more than the value of the gift card when they come in to redeem their present.

A few gift card service providers include: GiftflySquareRollerYiftee

To promote your restaurant further, register your gift card program at www.rallyforrestaurants.com and promote via social media using #rallyforrestaurants.

SOCIAL SELLING

Social commerce can play a role in helping both retailers and store staff at this difficult time. For retailers, it can create a new revenue stream to help alleviate the economic impact of temporary store closures. While these ideas may not replace all lost sales, it has allowed stores to continue making sales, exposing the brand to existing or potential customers, and providing people with safe options to get gifts for their loved ones or themselves.

Social Media – FacebookInstagramTwitterSnap ChatTik Tok are the major promotional platforms that can be used as tools to promote your brand. Organic posts, boosted (paid) posts, Facebook and Instagram Ad campaigns, geo-targeting segmented audience groups, stories, IGTV, click through to online sales, Facebook Shop, Facebook Messenger, social influencers and more, the opportunity to promote your merchandise or service is available through these social media platforms with little to no barrier-to-entry and provides low cost solutions.

Shopify – Shopify is a single web-based platform with the e-commerce and point of sale features to start, run, and grow your business, including website creation and sales. Due to COVID-19, Shopify is offering free services for 90 days rather than the typical 14.

Video IRL – Introduce FaceTime or WhatsApp shopping for customers. Sales associates can sell merchandise (and make commissions) using their smartphone devices. Once an item is purchased the retailer will deliver it or coordinate curbside pickup with the buyer. FaceTime is iPhone, iPad or iTouch users only and WhatsApp is a free app.

Like to Know It – Grow and track online sales through commissionable links for sales associates and influencers on social platforms.

COMMUNICATE WITH YOUR CUSTOMER

Proactively communicating information to your customers is imperative during this challenging time as well as an opportunity for exposure when it’s time for re-emergence. You can connect by email, website, e-newsletter, or social media channels such as Facebook or Instagram. Include how you are keeping people and products safe, how you are handling customer orders and inquiries, or any information you expect your customers need.