On May 22, 2020, U.S. Secretary of Agriculture Sonny Perdue announced that the USDA is making up to $1 billion in loan guarantees available to help rural businesses meet their working capital needs during the coronavirus pandemic. Business owners and nonprofit organizations should subscribe to the SBA Utah District Office newsletter and follow them on Twitter to stay current on the new programs. On June 15, 2020, the Federal Reserve Bank of Boston announced that the Main Street Lending Program Lender Portal is open. Extends the deferment period for loans retroactively until the amount of forgiveness is remitted to the borrower by the lender (the deferment period ends for all borrowers 10 months after the end of the covered period). Examples of best practice guidelines such as the Utah COVID-19 Business Manual can be found at coronavirus.utah.gov or the Stay Safe to Stay Open campaign at stayopenutah.com. The COVID-19 public health crisis has impacted every Pennsylvanian in every community. Businesses, individuals, and organizations interested in expanding internationally. Request an appointment with the Utah Small Business Development Centers here. , please contact your state, local, tribal or territory department of public health and/or emergency management agency. Grant amounts up to $5,000 are available thanks to a $500,000 donation from WCF Insurance. As the country reopens in fits and starts, Main Street is not expected to rebound right away. Learn more here. Small business owners (≤500 FTEs) in all U.S. states and territories are currently eligible to apply for a low-interest loan due to COVID-19. We’re reviewing the tax provisions of the American Rescue Plan Act of 2021, signed into law on March 11, 2021. The SBA is offering designated states and territories low-interest federal disaster loans to small businesses suffering substantial economic harm as a result of the coronavirus. Those who are interested in learning more or signing up will be able to do so after the first week in August. This initiative includes support for the Utah System of Higher Education’s Custom Fitprogram and several other workforce training programs to provide education and training to displaced workers. The credit is provided through December 31, 2020. Contact the GOED Business Services team to learn more: In response to the COVID-19 global crisis, DFC is seeking to strengthen and restore domestic industrial base capabilities through the Defense Production Act (DPA). Request Business PPE ... City of Tacoma Resiliency Grant: Round 2 - closes April 23, 2021. COVID-19 Small Business Quarantined Employee Grant. round two funding and the inclusion of both small businesses and nonprofits with 50 or fewer employees. Overview. Additional details can be found using this link: Temporary Postponement of Duties, Taxes, and Fees due to COVID-19. SHENANDOAH — Downtown Shenandoah Inc. has been awarded $50,000 from the state Department of Community and Economic Development, according to state Rep. Tim Twardzik, R-123, and state Sen. David G. 4/17/20 – The bridge loan, rounds one and two, received more than 5,000 application starts with approximately 500 loans awarded in round one, and the agency anticipates awarding another 500 loans in round two. The COVID-19 Impacted Businesses Grant Program, known as Shop In Utah, is a grant program to help support businesses and provide discounts to consumers. To learn more, click, Utah County has launched a $15 million Small Business Grant Program to assist businesses that have been negatively impacted by COVID-19. Grants are for the benefit of rural and minority small businesses. B.C. Note – This includes SBA export financing programs (i.e. 3006, the COVID-19 Commercial Rental Assistance Program includes $40 million in commercial property rental assistance. to learn how the CARES Act will benefit you. You may also contact the Utah District Office at (801) 524-3209 or by email at utahgeneral@sba.gov. Herbert’s leadership, the Utah Governor’s Office of Economic Development has marshalled its resources to help in all aspects of economic impact resulting from the coronavirus pandemic. Funding will be made available to a limited number of businesses, with 40 employees/FTEs or less that meet specific requirements set by the Summit County. You apply through the SBA. These loans may be used by small businesses to pay fixed debts, payroll, accounts payable and additional bills that can’t be … Exporters of USA Goods (and their foreign affiliates). Does a government employer receive a credit for the health care expenses allocable to the qualified leave wages? This $9 million initiative, called “Learn & Work In Utah,” provides training for workers displaced due to COVID-19 by funding GOED’s Utah Works program within Talent Ready Utah. WTC Utah also provides free consultations, international business and investment matchmaking, webinars, and other programs to find solutions to the problems businesses are facing. View grant eligibility criteria and required documentation here. with your company’s non-medical goods and/or services, please submit your inquiry to the Department of Homeland Security (DHS) Procurement Action Innovative Response Team (PAIR) team at, https://www.fema.gov/coronavirus/how-to-help. for a step-by-step guide to calculate your loan forgiveness amount, navigate record-keeping requirements, and determine repayment terms on amounts not forgiven. Ben Geier, CEPF®Aug 10, 2020 To be a business owner during the coronavirus pandemic is to be in serious financial straits. The Small Business Impact Grant (SBIG) is a COVID-19 relief program for small businesses in Salt Lake County funded with $40 million. Effective immediately until September 30, 2020, lenders may offer 180-day loan payment deferrals without prior agency approval for Business and Industry Loan Guarantees, Rural Energy for America Program Loan Guarantees, Community Facilities Loan Guarantees, and Water and Waste Disposal Loan Guarantees. Learn more here. https://www.dol.gov/agencies/whd/pandemic/ffcra-questions. Existing SBA Disaster Loans (home and business), payments of these loans have been automatically deferred by the SBA. The President’s Executive Order provides DFC the tools under the DPA to re-shore domestic production of strategic resources needed to respond to the COVID-19 outbreak and to strengthen any relevant domestic supply chains. Qorvo, the Greensboro-based chipmaker, said Friday that it has been awarded a $24.4 million contract with the National Institutes of Health through the … Please note that the SBA’s Express Bridge Loan and Debt Relief programs are still accepting applications. Are tribal governments eligible for the tax credits? For general questions please reach out to. Here’s a guide and checklist from the U.S. Chamber of Commerce to help your small business through the process and view this interactive map to show the aid available to small businesses on a state-by-state basis. Deferral is not provided to employers receiving assistance through the Paycheck Protection Program. The Summit County CARES Non-profit Grant Program will provide grants from $2,000 up to $20,000, dependent on the number of employees. However, the availability of existing commercial options combined with certain program features suppresses demand for the offering. Small businesses can apply for grants of up to $50,000 to support … The Summit County CARES Small Business Grant Program is offered pursuant to funding received by Summit County through the federal Coronavirus Aid, Relief, and Economic Security Act (CARES Act). This provision allows taxpayers to defer paying the employer portion of certain payroll taxes through the end of 2020, with all 2020 deferred amounts due in two equal installments, one at the end of 2021, the other at the end of 2022. As part of S.B. Grant funds may be utilized towards unpaid working capital uses that will assist in continuing business operations and … The U.S. Small Business Administration (SBA) announced on June 15, 2020, the reopening of SBA’s Economic Damage Loans and EIDL advance grant portal to a broader array of eligible small businesses. On May 15, 2020, the U.S. Small Business Administration released the PPP Loan Forgiveness Application that borrowers must complete in order to have their PPP loan forgiven. For those businesses who have applied for Salt Lake City’s Emergency Loan Program: Due to high volume, we are unable to respond … On March 30, 2020, GOED announced the Utah Leads Together Small Business Bridge Loan program for Utah-based small businesses impacted by the COVID-19 pandemic. PPP Loan Forgiveness Tool To help Utah companies with the calculations needed for the Paycheck Protection Program (PPP) Loan Forgiveness Application, the Salt Lake Small Business Development Center (Salt Lake SBDC) created the PPP Loan Forgiveness Tool. On 25 March 2021, the government announced a new Business Rates relief fund of £1.5 billion for businesses affected by COVID-19 outside the retail, hospitality, and leisure sectors. The PPP is a guaranteed loan program administered by the Small Business Administration (SBA). NOL Carrybacks of C-Corporations It uses federal CARES Act funds as part of Utah’s response to the coronavirus pandemic. When importing such products, entry information should be submitted to FDA; however reduced FDA information is required for review. The PPP Loan Forgiveness Application includes detailed information regarding the eligible cost for forgiveness, instructions for calculating those costs, a list of documents to submit, and documentation that must be maintained but is not required for submission. 1. This helps suppliers obtain cash quickly (often at lower rates that reflect the credit of the buyer) and increase liquidity to fulfill new orders. On April 19, the Secretary of the Treasury, in consultation with the designee of the Secretary of Homeland Security (U.S. Customs and Border Protection (CBP)), is amending the CBP regulations to temporarily postpone the deadline for importers to pay duties, taxes, and fees. This is a developing situation and we will keep our readers updated as funding potentially comes back online. Information is also also available for businesses that are able to start producing a product related to the COVID-19 response. The credit is available to employers, including non-profits, whose operations have been fully or partially suspended as a result of a government order limiting commerce, travel or group meetings. Check back soon for information on the 2021 Economic Impact Payment. The SBA’s Economic Injury Disaster Loan program provides small businesses and agricultural businesses with working capital loans of up to $2 million that can provide vital economic support to businesses to overcome the temporary loss of revenue they are experiencing. . a guide and checklist from the U.S. Chamber of Commerce, to help your small business through the process, o show the aid available to small businesses on a state-by-state basis, A top-line overview of the program can be found, If you’re a lender, more information can be found, If you’re a borrower, more information can be found, The application for borrowers can be found, On May 15, 2020, the U.S. Small Business Administration released the. This $62 million initiative provides grants to businesses negatively impacted by the COVID-19 pandemic. EXIM Short Term Credit Standards (Updated as of 5/1/2020). To qualify for this “Shop In Utah” grant, businesses must offer a discount or other offer with an estimated value to consumers of at least 50% of the grant amount. On April 8, it announced round two funding and the inclusion of both small businesses and nonprofits with 50 or fewer employees. In light of expected liquidity constraints in exporter supply chains, EXIM will expand the program by relaxing its criteria and increasing its guarantee level. Foreign buyers of capital equipment that need longer term repayment terms. Small businesses and nonprofit organizations with less than 500 employees are eligible to apply. In response, EXIM will temporarily modify the program to make it more flexible. For more information, click, On March 12, 2020, EXIM underscored its strong support for new initiatives to inject liquidity into the market and give maximum financing flexibility to facilitate sales of U.S. goods and services abroad during the COVID-19 crisis. 2:14 Calgary small business owners react to COVID-19 relief grant Alberta is expanding a program to provide financial support to small and medium-sized businesses affected by … FEMA has issued guidance for businesses that are able to provide medical supplies or equipment to the coronavirus response efforts. 2. EXIM’s Working Capital Guarantee Program facilitates loans from commercial lenders, typically through Designated Authority (DA) lenders, to creditworthy U.S. businesses that export over the term of the loan. Interested companies may apply through their local chamber of commerce or county economic development office. Due to the COVID-19 pandemic, GOED has invited BEAR grant recipients to repurpose funds for impacted local businesses. COVID-19 Small Business Grant Recipients. Reduced fees will be provided until September 30, 2020. The purpose of the grant is to assist small businesses, nonprofits, and organizations that experienced 1) a high level of revenue decline in a consecutive four-month period in 2020 compared to the same period in 2019, or 2) began operations after Jan. 1, 2020, and can demonstrate the effects of COVID‐19 on the business and 3) provide evidence of continuing solvency. An official website of the United States Government. is now accepting applications for the circuit-breaker business relief grant for restaurants, bars, breweries, wineries, gyms and fitness centres … Due to the COVID-19 pandemic, GOED has invited BEAR grant recipients to repurpose funds for impacted local businesses. 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