Hospitality Emergency Loan Program
To assist hospitality-related businesses in Delaware that have been economically impacted by COVID-19, the Division of Small Business has launched the Hospitality Emergency Loan Program (HELP). This program makes available no-interest loans of up to $10,000 per business per month and is open to businesses with less than $1.5 million in annual revenue and have been operating for at least 12 months.
The loans are intended to help the estimated 2,700 affected Delaware businesses in the hospitality industry cover immediate, unavoidable expenses over the next few months.
Small Business Assistance
Delaware was approved for an Economic Injury Disaster Declaration from the U.S. Small Business Administration. These loans assist small businesses, nonprofits and more, in meeting ordinary and necessary financial obligations that cannot be met as the result of a disaster, in this case, COVID-19.
You can apply for a loan through the program here and to view terms of the loans, interest rates and more, please visit this site.
Please gather or complete these materials for your application which will be available online later this week.
Unemployment Update
The Department of Labor announced adjustments in unemployment rules for hospitality workers due to COVID-19. These adjustments will permit hospitality employees to earn part-time income while collecting benefits, provided employees can demonstrate decreased hours and earnings. The Department of Labor is working to make benefits available within one week of a claim being received.
Learn more here.