USVI Public Records

Document text

U.S. Virgin Islands Economic Development Authority Webinar: Small Business COVID-19 Resources Moderator: Wayne Biggs Jr., USVIEDA Assistant CEO March 26, 2020 10:00am COVID-19 Impact on Overall Economy SBA Economic Injury Disaster Loan (EIDL) COVID-19 Impact on Tourism Industry Reliable COVID-19 Resources (Local & Federal) Agenda Business Impact Survey 2 626 Followers 280 Followers 476 Followers 3 Speakers Facebook Instagram Twitter Richard Motta Communications Director Office of the Governor Wayne Huddleston Senior Area Manager Small Business Administration Dr. Mark Wenner Chief Economist Office of Management and Budget’s Division of Economic Research Alani Henneman Communications Director USVI Department of Tourism Cusa Holloway Incubator Program Manager USVI Economic Development Authority’s Business Incubator Program 3 • Virgin Islands Department of Health – www.doh.vi.gov/coronavirus or Text COVID19USVI to 88877 or call 340-713-6200 or 340-776-1519 • VI Territorial Emergency Management Agency: www.vitema.vi.gov • Office of the Governor of the USVI: www.facebook.com/GovernmentHouseUSVI • Center for Disease Control & Prevention (CDC): www.cdc.gov • World Health Organization (WHO): www.who.int Credible Sources for COVID-19 Resources 4 ECONOMIC INJURY DISASTER LOANS U.S. Virgin Islands Office – 787-523-7120 or 340-473-7945 www.sba.gov/pr @SBA_PuertoRico Puerto Rico & U.S. Virgin Islands District Office 6 How much can I borrow? • Eligible entities may qualify for loans up to $2 million. • The interest rates for this disaster are 3.75% for small businesses and 2.75% for nonprofit organizations with terms up to 30 years. • First payment is deferred for one year. • If you have a current SBA Disaster Loan, payments are automatically deferred through 2020. How can I apply? • Apply at www.sba.gov/disaster. • Please call 800-659-2955 if you require assistance applying. • Once registered, it is recommended applicants download and/or the application, familiarize yourself with what is needed, complete it manually and then submit online. Incomplete applications will not be considered. • If experiencing website issues, COMPLETED applications may be emailed to Ela.doc@sba.gov • The website is experience unprecedented volume. Non-peak hours are 7PM-7AM. How long does it take to get a decision? • Depending on a variety of circumstances, it can take anywhere from a few days to a few weeks. The most common reason for delay is due to an incomplete application. SBA’s Economic Injury Disaster Loan Basics U.S. Small Business -Office of Disaster Assistance-Field Operations Center - East CORONAVIRUS INFORMATION RESOURCES For detailed information on SBA programs about the coronavirus, please visit: www.sba.gov/coronavirus For information on all federal programs, visit www.usa.gov/coronavirus or www.gobierno.usa.gov/coronavirus (en Español). COVID-19 Territorial Economic Impact 8 Celebrate the People Monthly Features of EDB and EZC Clients - Earned Media vs. Paid Media - Objective: Reduce advertising spending -> Increase storytelling worth sharing Change the culture – Build Multigenerational Wealth #BuildUSVI 8 CHANNELS OF ECONOMIC SHOCK TRANSMISSION-WARNING AGAINST NONESSENTIAL TRAVEL/CRUISE SHIP SUSPENSION COVID-19 Territorial Economic Impact 9 Celebrate the People Monthly Features of EDB and EZC Clients - Earned Media vs. Paid Media - Objective: Reduce advertising spending -> Increase storytelling worth sharing Change the culture – Build Multigenerational Wealth #BuildUSVI 9 COVID-19 Territorial Economic Impact 10 Celebrate the People Monthly Features of EDB and EZC Clients - Earned Media vs. Paid Media - Objective: Reduce advertising spending -> Increase storytelling worth sharing Change the culture – Build Multigenerational Wealth #BuildUSVI COVID-19 Economic Impact on Tourism Industry 11 Celebrate the People Monthly Features of EDB and EZC Clients - Earned Media vs. Paid Media - Objective: Reduce advertising spending -> Increase storytelling worth sharing Change the culture – Build Multigenerational Wealth #BuildUSVI 11 Since the launch of the new website, the www.usvieda.org has an 85% increase of users visiting the website in the same time period over 2018. August-September with Crucianpoint External and Internal September-November Media Announcement April 1st Soft Launch February 12 Business Impact Survey Redesign Focus Groups Final Product The United States Virgin Islands Economic Development Authority (USVIEDA) is seeking your assistance to assess the impact of the coronavirus (COVID-19) on our small business community. Please complete the survey and tell us what you are experiencing during the pandemic. The survey is short and will take approx. 5-7 minutes to complete. Link: https://www.surveymonkey.com/r/SmallBusinessImpactSurvey Deadline to complete this survey is Tuesday March 31, 2020 at 5 p.m. USVIEDA will use the information collected in this survey to create a rapid response to this ongoing crisis. 12 Together We will Thrive. We Support Small Business. 13 @usvieda @usvi_eda www.usvieda.org