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COVID – 19 Resources for Entrepreneurs and Business Owners

Tulane is committed to working with the growing business community, now more than ever. We have consolidated the resources available to entrepreneurs and business owners during the COVID-19 crisis. We will continue to update this list as more information becomes available.

Mentorship

The Albert Lepage Center for Entrepreneurship and Innovation’s mentor matching services are now available to the New Orleans business community, in addition to students. The Center will connect business owners with experienced entrepreneurs, experts and other leaders who can help them navigate the available resources and provide strategic guidance during this difficult and unexpected time. Entrepreneurs seeking assistance can fill out this form.

Thank you to our referral partners GNO, Inc, New Orleans Business Alliance, City of New Orleans, New Orleans BioInnovation Center, The Shop, The Idea Village, NO/LA Angel Network, Tangipahoa Economic Development, Entrepreneurs' Organization - Louisiana Chapter, Downtown Development District, Jefferson Parish Economic Development Commission, StayLocal, Fund 17 and St. Tammany Corporation.

Note: All legal, accounting, financial planning, and other advice from mentors are being provided pro-bono to benefit the business community and assist in its recovery amid unprecedented circumstances. No such advice should be construed as the official position of Tulane University, the A. B. Freeman School of Business, and/or the Albert Lepage Center. In addition, no such advisory sessions by themselves will create an attorney-client or other legal relationship between the party providing advice and the party receiving it. We encourage all business owners to ensure they seek advice from professional service providers they have formally engaged when making the important business decisions that will need to be made during this critical time. 

Business Resources and Funding

Coronavirus Aid, Relief, and Economic Security (CARES) Act The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes financial resources to aid businesses during this time. For ease of navigating the many elements of the CARES Act, GNO, Inc has created a CARES Act Binder.

Paycheck Protection Program (PPP)  - An SBA loan that helps businesses maintain their employees during COVID-19. These loans are administered by private, local banks and community development financial institutions (CDFIs).

For a legal guidance on the CARES Act, Stone Pigman Walther Wittmann and Jones Walker have published resources available.

The Kauffman Foundation recently published “A guide to helping small business navigate and recover from the COVID-19 crisis” by Ross Baird, founder of Blueprint Local and Village Capital. This guide provides a user-friendly explanation of how to access resources available within the CARES Act and the Small Business Administration.

Read The Founder's Field Guide for Navigating this Crisis - Advice from Recesssion-Era Leaders, Investors and CEO's Currently at the Helm by clicking here.

Louisiana Main Street Recovery Grant Program Small businesses in Louisiana can apply for grants to help cover COVID-19 related expenses. Through the Main Street Recovery Program businesses can apply for up to $15,000 to cover eligible expenses. In the first 21 days of the program, grants will be given to businesses who did not receive federal assistance such as a Paycheck Protection Program loan, insurance payment or an Economic Injury Disaster loan. In the first 60 days, $40 million will go to businesses owned by women, minorities and veterans. Applications open July 28 and more information about the program can be found here

U.S. Small Business Administration (SBA) The SBA is offering small business owners in all U.S. States and territories the opportunity to apply for low-interest loans. Information on the Small Business Guidance and Resources can be found here.

SBA Economic Injury Disaster Loan and Loan Advance – Administered directly by the SBA, small business owners can apply for an Economic Injury Loan advance up to $10,000. This loan is intended to provide relief to businesses experiencing temporary loss of revenue. The loan application can be found here. If your business is based in Louisiana and is interested in applying for reconsideration for the EIDL loan, meaning your loan was rejected or would like to request more money, please contact the Louisiana SBDC for technical assistance. 

Louisiana Economic Development (LED) LED has created a help desk that provides email and hotline support to Louisiana businesses impacted by COVID-19. Businesses can reach this help desk by emailing LEDbiz@la.gov or on the toll-free hotline (833)-457-0531. Additional resources provided by LED can be found here.

Louisiana Loan Portfolio Guaranty Program This recently announced program will offer loans up to $100,000 to Louisiana small businesses with fewer than 100 employees. Entrepreneurs and business owners can access more about the program here.

Main Street Lending Program The Federal Reserve established the Main Street Lending Program to enhance support for small and mid-sized businesses that were in good financial standing before COVID-19 who employ fewer than 15,000 employees. Loans under this program are not forgivable and have a loan term of five years. Information about the program can be found here.

GNOpivot Launched by GNO, Inc, GNOpivot is an initiative where businesses pivot their operations to make a product or provide a service that is in demand for the fight against the Coronavirus. A list of companies who have made this shift can be found here. Companies interested in getting involved can fill out this intake form.

COVID-19 and Non-Profits Greater New Orleans Foundation, in partnership with CoronaVirusReady, created a free webinar series called “Nonprofit Essentials for Preparing for the COVID-19 Pandemic.” Resources and recordings can be found here.

New Orleans and Company Coronavirus Toolkit for Businesses New Orleans & Company created this toolkit to assist members of the New Orleans hospitality industry navigate the resources available to them.

Additional Resources

BRACE for COVID-19 – Business Resilience and Community Education (BRACE), an initiative run by Tulane Medical School students, provides free in-person business consultations for businesses and other organizations in an effort to promote safe reopening and operating procedures. Additionally, business who take the BRACE pledge committing to certain safety protocols will be promoted on the BRACE website. More information can be found here and you can contact BRACEforCOVID19@tulane.edu to schedule your free public health consultation.  

 “Getting Back to Work, in the New Normal:  Best Practices for Business Reopening” – GNO, Inc. released a plan for restarting the Greater New Orleans economy, and reopening businesses with a responsible and safety-first approach. Read the full plan here

New Orleans Business Alliance Gig Workers’ Relief Fund New Orleans Business Alliance (NOLABA), and additional funders, have created a relief fund to address the needs of the gig economy workforce by providing grants to those affected. Eligibility criteria and the application can be found here.

Employment Opportunities WorkNOLA has created a list of current job openings, both regional and national, that have been created due to the COVID-19 crisis. Companies with urgent hiring needs should contact Evie Poitevent Sanders with GNO, Inc at epoitevent@gnoinc.org.