Covid-19 (Coronavirus)
Business & Employer Resources

The recent outbreak of the COVID-19 Virus (also known as the "coronavirus") has caused a massive shock to our economy.  Small businesses and small non-profit organizations will feel this effect more than any other sector.  Because this is our direct client base, we put together a list of business financial resources. 


We will be updating this page regularly so please check back frequently to get the latest information.

If you know of any other resources or any updated information, please share with us so we can post and get the word out.  We need to come together as a community to ensure our health and our economy is protected.

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Loan Assistance & Strategic Planning Session
With A Chief Financial Officer

We are providing a FREE loan assistance and strategic planning sessions to any small business or non-profit. 

We are doing this to ensure the stability of our small business community.  Its our way of giving back.

United We Stand!

U.S. Chamber of Commerce + Inc. Magazine

National Small Business Town Hall


Manny Cosme, President & CEO of CFO Services Group, has appeared as

a recurring panelist on the U.S. Chamber of Commerce + Inc. Magazine

National Small Business Town Halls.

The Town Hall discussions have aired every Friday to bring the latest

updates regarding financial relief to small business owners and

non-profit leaders.  Manny has been covering the accounting aspects of the relief.

This is prestigious panel of experts are we are so thrilled to have our founder and leader speak on behalf of small businesses and non-profits throughout the country!  

No upcoming events at the moment

Prior Webinar Recordings

How to complete the PPP forgiveness application step-by-step; a complete guide.

Did you recently apply for or receive PPP funding? The SBA recently released the loan forgiveness application.


Join our experts on a line by line walk through of how to complete the application to maximize your forgivable amount.


Where Can I Get Money During COVID-19

The Federal government, most state governments, some local governments, and a handful of private foundations have stepped forward to offer their financial assistance to small businesses and small non-profits affected by the COVID-19 pandemic.


Join us on this special webinar as we explore the finance options that are available to you, explain the criteria for each option, and help you decide how to move forward.

How To Make Sure Your SBA Loan Is Forgiven

Did you recently apply for and get funding as a result of the numerous programs for COVID-19 also known as the Coronavirus?

It is important to make sure you are protecting yourself, your business or nonprofit, and those around you.

You need to make sure you are not only properly spending the funds, you also need to ensure you are accounting for them.

Be sure to watch this webinar to learn some tricks that will save you time, effort, and energy down the road.


Disaster Planning In Uncertain Times

True entrepreneurs (and that includes non-profit leaders by the way) step up to the plate when times are tough and recognize opportunity in the face of disaster.  They also plan for disaster well ahead of time and know what to do when the proverbial “stuff hits the fan.”  As your Chief Financial Officer, it’s my duty to help you recognize opportunities, pivot around any obstacles that present themselves, and gather whatever resources you need to weather this storm and come out stronger than ever.

SBA Stopped Funding...

Where Do I

Get Money Now?

The SBA has announced that funding for the Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program (PPP) loan has stopped.

If you did not get a chance to submit an application...then you may be out of luck!

But don't worry. There are other options available to you.

Join us on this FREE webinar to discuss what you can still apply for and money you can still access.

Funding Assistance & Relief Sources

Our friends with the Connected Commerce Council have curated a comprehensive catalog of funding sources for your nonprofit or business which can be viewed on their interactive map

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

Paycheck Protection Program (PPP) Loans

(info last updated March 28, 2020)

The Federal government is providing relief to small businesses and 501(c)(3) non-profit organizations that have been severely impacted by the Coronavirus (COVID-19).  The purpose of the loans is to help these businesses keep their workers employed.

The loan amount is calculated (at least in part) based on your average monthly payroll, with a maximum eligibility of 2.5 times your average monthly payroll.  The details of the exact calculation for the amount you will ultimately get are unknown to us at the moment.

The good news is that the loans can ultimately be forgiven by the Federal government IF the business maintains their employees during this period of time.  This essentially means that the business can be forgiven if it does not lay off employees or reduce wages during this time (or if it has, it restores everything back to normal by June 30).

The loans themselves will be administered through private SBA-approved lenders.

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

Employee Retention Credit

(info last updated March 28, 2020)

Eligible employers that retain their employees during this pandemic can now seek additional the form of a payroll tax credit.  The credit is against the employer's Social Security tax, and is equal to 50% of qualified wages paid between 03/09/20 and 12/31/20, up to a maximum of $5,000 per employee.

An eligible employer is one that had business operations partially or fully suspected due to the Coronavirus outbreak, or who experienced a loss 50% or more of their gross receipts when compared to the prior quarter.

Furthermore, employers can delay paying their share of the Social Security tax on employees' wages from 03/27/20 through 12/31/20.  The amounts do ultimately have to be paid over to the IRS: 50% by 12/31/21 and the other 50% by 12/31/22.  Employers will not be eligible for this if they get a loan under the PPP program (above) and it is forgiven.

Small Business Administration (SBA):
Economic Injury Disaster Loan (EIDL) Program

(info last updated March 28, 2020)

The SBA will provide targeted, low-interest loans to small businesses and non-profit organizations that have been severely impacted by the Coronavirus (COVID-19).

The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. 

Interest rates are low (3.75% for private businesses and 2.75% for non-profits)...
and repayment periods are long (30 years).

The CARES act expanded the EIDL program, to allow small businesses to ask for an advance of $10,000 while their application is pending.  If the loan is ultimately denied or the borrower decides to get the PPP loan isntead of the EIDL loan, the $10,000 advance is forgiven.

Federal Sick Leave & Family Leave Policy
Payroll Tax Credit

(info last updated March 23, 2020)

Congress has enacted a Federal sick leave and family leave policy for employees that are affected by the coronavirus.  Employers are required to provide:

  • Two weeks of paid sick leave at 100% of normal pay.

  • Twelve weeks of paid family leave at 67% of normal pay.

Employers are required to pay the leave up-front, and then can apply for a credit against their payroll taxes to offset 100% of the cost.  In other words, employers will ultimately not have to bear the burden of this payment; however they will need to front the funds.

Small businesses with under 50 employees may be exempt from doing this if it will create a "financial burden" for them.  No further guidance has been given on this at this time - We await the IRS to provide further guidance.

If you need help applying for the payroll tax credit, please reach out to us.

Government of Washington DC:
Small Business Recovery Grants

(info last updated April 1, 2020)


(we are keeping this up for reference purposes)

Washington DC is now offering recovery grants for small businesses (including independent contractors) 

and non-profit organizations affected by the COVID-19 shut-down. 

A grant is money that you do NOT have to pay back (as opposed to a loan).


  • Business or non-profit is located in Washington DC with a current business license

  • More than 50% of business owners, employees or gross receipts are based in DC

  • For non-profits: Your services cannot extend beyond the DMV area

  • At least 25% of revenue is lost as a result of the COVID-19 pandemic.


Government of Washington DC:
COVID-19 Response Emergency Amendment Act of 2020

(info last updated March 20, 2020)

Provides several measures of relief to businesses and individuals who reside in the District of Columbia.
Of note to businesses:

  • Businesses will be able to defer their February/March sales tax until July 20, 2020 (all businesses other than hotels and motels).

  • Prohibits evictions during the public health emergency for non-residential tenants.

  • Authorizes the Mayor to extend licenses and registrations that may be due for renewal during the public health emergency.

The bill also authorizes the Mayor of DC to create a new program to push grants out the door to small businesses, self-employed individuals, and non-profits. However, we're not certain when she will have that up and running, what the benefits will be, or how much money she will put into it.  Stay tuned on further updates.

State of Maryland

Small Business COVID-19 Emergency Relief  Loan & Grant Fund

(info last updated March 23, 2020)

This fund offers working capital to assist Maryland small businesses and nonprofits
with disrupted operations due to COVID-19. 

Maryland is providing two options for relief:
a loan (which has to be paid back) and a grant (which does not have to be paid back).

Loan Highlights:

  • Loans up to $50,000 for Maryland businesses

  • Must have 50 or fewer employees

  • 0% for the first 12 months, and 2% for the remaining 36 months.

  • Deferral of any payments for the first 12 months, and straight amortization beginning in the 13th month through the 36th month.

Grant Highlights:

  • Grants up to $10,000 for Maryland businesses and nonprofits

  • Must have 50 or fewer employees

  • Annual revenues cannot exceed $5 Million

In all cases, business must demonstrate "demonstrate financial stress or disrupted operations" related to COVID-19.

Unemployment Benefits Guide
in the D/M/V (DC, VA, MD)

(info last updated March 28 2020)

Unemployment benefits are complicated, and the recent outbreak has made these benefits even more complex.  As an employer, you should be aware of the qualifications for unemployment that are available to your employees, should you have to reduce operations.

Here's a quick guide:

District of Columbia

  • Eligibility: Anyone who has lost their job and has worked there for 30 days or more is eligible. This also includes employees who has been quarantined or isolated by a District or federal agency, an employee who has self-quarantined or self-isolated, an employee of an employer that ceased or reduced operations due to an order from the Mayor, or one an employee whose employer has seen a reduction in business revenue resulting from this public health emergency. 

  • Reduced Hours: (nothing specified that we can find...please alert us if this is not accurate)

  • Payment: Maxed at $444 per week for 26 weeks


  • Eligibility: Only those who have worked in Virginia over the last 18 months are eligible. A worker may be eligible if they’ve received a notice to self-quarantine and are not receiving sick or medical leave pay from their employer. They also may be eligible if they are home caring for an ill family member and are not receiving paid family medical leave from their employer. Unemployment benefits “might be available” for those who have to take time off to care for their child due to their school or daycare closing. 

  • Reduced Hours: If you are filing because of a reduction in hours, you will not receive benefits unless your gross earnings are less than your weekly benefit amount.

  • Payment:  Maxed at $378 per week for 26 weeks.


  • Eligibility: If you have worked in a state other than Maryland sometime in the last 18 months, you are not eligible for benefits from Maryland.  You are also not eligible if you are out of work due to contracting COVID-19. Employees who self-quarantine are not eligible, though those in mandatory quarantine or those told by a public health official “may be” eligible depending on paid sick leave.

  • Reduced Hours: If your employer shuts down operations, lays off employees, or cuts hours due to the outbreak, you may be eligible as well.

  • Payment: Maxed at $430 per week for 26 weeks.

Extensions under the CARES Act:

Under the Federal CARES act, unemployment benefits have been extended:

  • Self-employed people can now apply for unemployment benefits

  • Part-time workers are now eligible to apply for unemployment

  • The amount of unemployment is increased by $600 per week.

  • Benefits are extended by 13 weeks (for a max of 39 weeks)

Facebook Financial Assistance Program
(coming soon)

(info last updated March 20, 2020)

Facebook announced a new $100 million program to help small businesses impacted by COVID-19.  Grants will be available for up to 30,000 eligible small businesses in over 30 countries. That would be an average of $3,333 per business.


Facebook said they will begin taking applications in the coming weeks.  They are not available as of today.  
Stay tuned on further updates.

Disaster Planning Tips

(on our YouTube Channel)