SKED is standing with you and your small business to ensure its success, during this uncertain time.
With that in mind, please rest assured: SKED is open for business to support you as necessary; however, we have implemented some risk-reduction procedures that may affect the way that we interact with you – our partners and clients.
As efforts to contain the COVID-19 (the coronavirus) continue across our nation, we at SKED want to assure you we are working diligently to make all necessary changes here at SKED to comply with state and national efforts.
As the federal government, state government, and private enterprises develop ways to support people through this crisis; we will provide information, access to resources, and answers to your question, as best as we can.
A Letter from our Executive Director
Greetings from our SKED staff and Board of Directors,
As we continue to navigate the uncertainty of the COVID-19 pandemic and the restrictions it carries, I am providing this update on our operations. Because our loan clients and the small business owners we serve are our priority, we have abided by Governor Beshears’ order to stay at home whenever possible, wear masks when meeting with clients and are adhered to social distancing rules. The necessary and responsible action of staying apart means our meetings with partners and others have been conducted via Zoom call whenever possible.
Recently, our staff has returned to work at The Center for Rural Development in Somerset, KY. While at work, we are wearing masks in common areas and have relocated some staff to other locations. We are working to sanitize our workspaces and equipment daily. We have implemented a plan to keep any employee who has been in direct contact with someone who has tested positive with COVID-19 or is showing symptoms of the virus themselves to quarantine for 14 days.
We added a COVID-19 section to our new website: www.skedcorp.com early on to enable loan clients and partners to access our plans and priorities. We are continuing to work with our existing loan clients to ensure their businesses continue to remain healthy during the shutdown.
Our small business training staff has canceled and rescheduled all in-person training for future dates and held others online. We’ve hosted and co-hosted several webinars to help small business owners navigate these challenging economic times. You can watch Coffee Talk virtual forum videos conducted by our training department on social media and informative webinars on our website.
Having said all of this, we are excited to see businesses opening back up and remind you that we are here to support all small business owners in our 45-county service region through free business counseling and business loans.
We will continue to keep our website updated on the status of events and classes and conducting business operations safely and successfully. Let’s do business better!
We encourage everyone to stay safe through this challenging time.
Sincerely,
Brett Traver
Executive Director
Economic Injury Disaster Loans
SKED partnered with the U.S. Small Business Administration (SBA) to present a webinar to explain the Economic Injury Disaster Loans that are available to small businesses and nonprofits in Kentucky in the coming weeks.
To further meet the needs of U.S. small businesses and non-profits, the U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19.
The SBA is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).
SBA’s Economic Injury Disaster Loans (or working capital loans) are available to small businesses, small agricultural cooperatives, small aquaculture businesses and most private non-profit organizations.
What can my EIDL be used for:
- Payroll
- Taxes
- Inventory
- Accounts Payable
- Other bills that can’t be paid due to the impact of the disaster
What EIDL cannot be used for:
- Refinance existing debt
- Replace lost sales or revenue
Webinars & Trainings
What is EIDL?
SKED has partnered with SBA to present this webinar on the Economic Injury Disaster Loan program.
How to complete EIDL Forms
SKED partnered with SBA to present this webinar with details on filling out Economic Injury Disaster Loan program forms.
COVID Resources
SBA and Treasury Announce Simpler PPP Forgiveness for Loans of $50,000 or Less
WASHINGTON – The U.S. Small Business Administration, in consultation with the Treasury Department, today released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars.
Unemployment Insurance HAndbook Return to Work Update
The Kentucky Education & Workforce Development Cabinet announced today that employers are now able to upload their employees’ return-to-work dates without Cabinet staff assistance. This is the most efficient way to report Return to Work. Download the handbook in the link below:
Return to Work Updates in Unemployment Insurance Employer Handbook for COVID-19
Kentucky COVID Updates
Three ways to stay up-to-date on what Kentucky is doing to combat and control the COVID-19 spread:
- Watch the Kentucky Governor each day at 5 p.m.
- Visit the kycovid19.ky.gov for up-to-date information
- Follow your local government offices on social media
Kentucky Education & Workforce Development Cabinet
United States Department of Agriculture (USDA)
Small Business Resources
The U.S. Small Business Administration (SBA) helps small business owners and entrepreneurs pursue the American dream. The SBA is the only cabinet-level federal agency fully dedicated to small business and provides counseling, capital, and contracting expertise as the nation’s only go-to resource and voice for small businesses.
Paycheck Protection Program
04/22 UPDATE: PPP Loan Program
The SBA Paycheck Protection Plan provides loans of up to $10 million that are 100% guaranteed by the SBA in order to encourage employers to retain employees or bring laid off workers back on the payroll. They are unsecured loans of up to 10 years requiring no collateral or personal guarantees, and no upfront borrower fee payable to the SBA. Another major difference from the regular 7(a) program is that borrowers don’t have to show that they cannot obtain credit elsewhere. Businesses (including, sole-proprietors, independent contractors, and other self-employed individuals) with fewer than 500 employees are eligible for the Paycheck Protection Program.
FAQ Paycheck Protection Program
Paycheck Protection Program Update: 04/24
Read our recent blog post with answers to the most frequently asked questions related to the PPP Loan Program.
Paycheck Protection Program Update: 05/20
Paycheck Protection Program Update: 07/24
See our webinar library for an update on Loan Forgiveness through the PPP Loan Program.
To further meet the needs of U.S. small businesses and non-profits, the U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19.
National COVID Updates & Resources
The U.S. Department of Labor and the U.S. Department of Health & Human Services offer guidance on preparing your workplace/home and school for protection from COVID-19:
Tips for staying healthy at home
KY Re-Opening Plans
Kentucky Healthy at Work
Get up-to-date information on Kentucky re-opening date and guidelines.
May 11 – Manufacturing, construction, vehicle and vessel dealerships, professional services (at 50% of pre-outbreak capacity), horse racing (without spectators), pet grooming and boarding
· May 20 – Retail, houses of worship
· May 25 – Social gatherings of no more than 10 people, barbers, salons, cosmetology businesses and similar services.
Guidelines
Healthy at Work Minimum Guidelines