COVID-19 Resources

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Commitment to ReVive Vermillion

The ‘Commitment to ReVive Vermillion’ initiative is a commitment from Vermillion Area businesses to practice key social distancing measures to keep our community safe during these current times.

The Commitment covers three key areas:

  • Distancing
  • Transparency
  • Covered & Cleaned

Participating businesses will sign onto the commitment and display the Commitment poster in their store window or entry way.

Members of the community will be able to provide feedback through a short survey or by emailing the VCDC.

View Commitment poster

$480 Billion Relief Bill Passed by House

The House passed the $480 billion relief bill. It has now moved to the President’s Office for signature. President Trump has expressed on multiple occasions that he supports the bill and will sign.

“The bill includes more than $320 billion for the Paycheck Protection Program, created by the CARES Act, which was passed late last month. The program, which quickly ran out of money because of heavy demand, provides forgivable loans to small businesses that keep their employees on the payroll.

About $60 billion of the additional PPP funding would be set aside for businesses that do not have established banking relationships, such as rural and minority-owned companies.”

Small Business Administration Updates

There is a wealth of information on many different financial packages that have recently become available. The spreadsheet linked below includes updated information from the Small Business Administration (SBA).
View SBA spreadsheet

Ways and Means Committee Resources

The U.S. House of Representatives Ways and Means Committee has information on all Congressional COVID-19 packages, FAQs and updates on Congressional actions.
Find information here

Google Productivity and Connectivity Resources

Google has compiled free tools and resources to help employees, businesses and individuals stay connected and productive during the crisis.
View resources here

Forbes Tips and Articles for Working at Home

Forbes has created a collection of remote working articles and tips to assist those impacted by the COVID-19 outbreak and are forced to work from home.
View tips and articles here

Managing and Motivating a Team During Coronavirus

Experts discuss strategies and tools to create a positive and productive work environment — even if you can’t see your team every day.

Empathy, transparency and flexibility are critical to caring for your employees and keeping them engaged during the coronavirus pandemic.

Experts unpacked these three pillars of a successful company culture — both during a crisis and in the long term.

1. Make employee health priority No. 1 with policies, protocols, and one-on-one working input
2. Create a fun, empathetic and efficient work-from-home culture that serves employee needs and business goals
3. Embed flexibility into company culture
4. Have hard conversations with transparency, empathy and humility
5. Adopt best practices gleaned from the crisis

Read More Here

USDA Unveils Tool to Help Rural Communities Address the COVID-19 Pandemic

U.S. Secretary of Agriculture Sonny Perdue today unveiled a one-stop-shop of federal programs that can be used by rural communities, organizations and individuals impacted by the COVID-19 pandemic.

The COVID-19 Federal Rural Resource Guide is a first-of-its-kind resource for rural leaders looking for federal funding and partnership opportunities to help address this pandemic.

Download the Rural Resource Guide here

Paycheck Protection Program

The purpose of the Paycheck Protection Program is to help employers keep their employees on the payroll. The loans offered under the Paycheck Protection Program are forgivable – which means that a business may not have to repay some (or possibly all) of the loan. The SBA created a webpage dedicated to providing information regarding the Paycheck Protection Program. Here you will find program details, frequently asked questions and the program loan application.

Visit SBA's Paycheck Protection Program Website

Coronavirus Aid, Relief, and Economic Security (CARES) Act

The programs and initiatives in the CARES Act that was recently passed by Congress are intended to assist small business owners. This guide provides information about the major programs and initiatives that will soon be available from the Small Business Administration (SBA).
The Small Business Owner’s Guide to the CARES Act

CARES Act Benefits & Implementation

The Coronavirus Aid, Relief and Economic Security (CARES) Act of 2020 provides unemployment benefits for the self-employed, independent contractors, nonprofit employees, gig economy workers, those who have exhausted other unemployment insurance benefits, and those who may not have sufficient work history to qualify for a regular state claim.   The CARES Act also includes eligibility for those receiving unemployment insurance benefits in any amount to be paid an additional $600 weekly benefit. Department of Labor & Regulation has begun aligning resources and technology to create the necessary processes to be able to pay qualified individuals their benefits as quickly as possible. Payments will be issued as soon as administratively feasible and will be paid retroactively to eligible individuals.
Access full benefits here

Economic Injury Disaster Loan (EIDL) Worksheet

Economic Injury Disaster Loans are designed to provide economic relief if your business is currently experiencing a loss of revenue due to the COVID-19. The SBA encourages businesses to download, complete and submit this EIDL worksheet by email to the State of South Dakota Governor's Office of Economic Development - goedinfo@state.sd.us
Fill Out Economic Injury Disaster Loan Worksheet

Rural Energy Savings Program

The Rural Energy Savings Program (RESP) helps rural families and small businesses achieve cost savings by providing loans to qualified consumers to implement durable cost-effective energy efficiency measures. Eligible applicants under the RESP include current and former RUS borrowers, subsidiaries of current or former RUS borrowers, and entities that provide retail electric service needs in rural areas.
Apply for the Rural Energy Savings Program

Small Business Administration

SBA Disaster Relief has been approved for SD.

SBA’s Economic Injury Disaster Loan is a low-interest federal loan up to $2 million in assistance per small business and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.

SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.

SBA’s Economic Injury Disaster Loans are just one piece of the expanded focus of the federal government’s coordinated response, and the SBA is strongly committed to providing the most effective and customer-focused response possible.

The SBA encourages you to download, complete and submit this EIDL worksheet (this is not a SBA loan application). Completed forms can be submitted by email to the State of South Dakota Governor’s Office of Economic Development – goedinfo@state.sd.us

Small businesses can learn more about the program and apply for financial assistance at www.sba.gov/disaster. Small businesses with questions about this SBA loan program or other assistance provided at the state-level can call 605.773.4633 to speak directly with a GOED representative.

Additional resources provided by the SBA are:

Guidance for Businesses and Employers includes how to help prevent workplace exposure, prevent stigma and discrimination and common issues that small businesses may encounter.

The SBA provides a number of loan resources for small businesses to utilize when operating their businesses. For more information on how to connect with a lender, visit sba.gov/funding-programs/loans

Exporting assistance to help small businesses achieve sales through exports and help businesses respond to challenges associated with trade via Export Express – up to $500,000 as a line of credit to finalize an export sale or pursue opportunities overseas; through Export Working Capital – to enable businesses to fulfill export orders; or the International Trade program – to help better compete and react to changing business conditions.

For more detailed information on resources that the SBA is offering, please visit sba.gov

For the most up to date information from the State of South Dakota for small business disaster response, please refer to South Dakota State News.

Of course, you can always call the VCDC office at 605.624.5571 – and we will be happy to help!

Unemployment Insurance Claims

The Reemployment Assistance (RA) program, as part of the Department of Labor and Regulation provides temporary financial assistance for people who have lost their job through no fault of their own. Workers who become unemployed because their employer needs to temporarily shut down or isolate workers due to COVID-19 might be eligible to receive benefits.
Read the full press release here

Deferred Tax Payments due to COVID-19 Outbreak

The U.S. Treasury Department and Internal Revenue Service (IRS) today issued guidance allowing all individual and other non-corporate tax filers to defer up to $1 million of federal income tax (including self-employment tax) payments due on April 15, 2020, until July 15, 2020, without penalties or interest. The guidance also allows corporate taxpayers a similar deferment of up to $10 million of federal income tax payments that would be due on April 15, 2020, until July 15, 2020, without penalties or interest. This guidance does not change the April 15 filing deadline.
View the full press release here

Tax Information

If you are a business that is concerned about filing and paying your taxes on time, the South Dakota Department of Revenue wants to help. Reach out using their Live Chat or call them at 1.800.829.9188 to discuss your situation.
Live Chat

Families First Coronavirus Response Act

As provided under the legislation, the U.S. Department of Labor will be issuing implementing regulations. Additionally, as warranted, the Department will continue to provide compliance assistance to employers and employees on their responsibilities and rights under the FFCRA.
View Families First Coronavirus Response Act Q&A