News
Seven Steps to Recession-Proof Your Small Business
Blame Covid-19: the US officially entered a recession in February. I suspect that’s not news to you and your small business, as small businesses have been on the front line of this downturn, struggling to survive. In fact, since the shut-down, it’s estimated that over 100,000 small businesses have closed their doors for good. I don’t want you to be one of them, so here are ways to help "recession-proof" your small business.1.Get the word out to "shop small, shop local." In response to Covid, customers want
Our PPE Story
Grateful to Help Kitsbow was invited to Washington DC to testify in Congress on the issues of small businesses struggling to survive in the Pandemic. The House Committee on Small Business is considering policy to help small businesses and help the country be better prepared for pandemics. Our CEO David Billstrom testified on the lessons Kitsbow learned in the last 100 days making PPE, and a bit about how we did it. David stated that, "The opportunity to testify in Congress was quite meaningful to those of
Helping America’s Entrepreneurs Get Back to Business
Now more than ever before, Americans are turning to online learning. The trend is especially true as small businesses begin to reopen after states lift Coronavirus (COVID-19) restrictions in the weeks and months ahead. The U.S. Small Business Administration (SBA) offers free online courses that can help to guide you as you get back to business. Our online courses, housed in the SBA Learning Center, are tailored to specific subject areas and business stages. You can also supplement the knowledge you gain
Revised Loan Forgiveness Application & Guidance
Last week, the SBA released a revised PPP loan forgiveness application and a new EZ application as well as provided further guidance on employee and owner compensation calculations in the PPP Flexibility Act. Both applications allow borrowers who were assigned a loan number by the SBA on or before June 5th to choose between an 8-week or 24-week expenditure time frame to qualify for loan forgiveness. Those assigned a loan number after June 5th must use a 24-week period. EZ PPP Loan Forgiveness
Help Remains For Small Businesses
Now is the time to take action for your small business. Deadlines are nearing and opportunities will come to a close for funding to assist in recovery efforts. The time is now to take action. Consider the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan Program (EIDL) for your recovery efforts. Please note that PPP will close on June 30th. The Economic Injury Disaster Loan (EIDL) and EIDL Advance application portal is now open to all eligible small businesses, non-profits, and
Paycheck Protection Program Flexibility Act
Joint Statement by SBA Administrator Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin Regarding Enactment of the Paycheck Protection Program Flexibility Act SBA Administrator Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin issued the following statement today following the enactment of the Paycheck Protection Program (PPP) Flexibility Act: “We want to thank President Trump for his leadership and commend Leader McConnell, Leader Schumer, Speaker Pelosi, and Leader McCarthy for
Agritourism--Ask The Experts!
Register TODAY! "Ask the expert." Webinar series. 11 am-Noon: Tuesday, June 9 - Jake Parker, Secretary, and General Counsel NC Farm Bureau FederationWednesday, June 10 - Marlise Taylor, Research Analyst with Visit NCThursday, June 11 - Ben Chapman, Ph.D., Food Safety Specialist with NC State, NC Cooperative Extension You need help. You need guidance. The learning sessions are organized by the Visit NC Farms App Team featuring guest speakers ready to offer their expertise centered around the specifics of
PPP Amendment Details
May 28, 2020, the House of Representatives near-unanimously (417-1) passed HR 7010, the Paycheck Protection Program Flexibility Act. It is uncertain if the Senate will pass these measures, though there are clear indications of bipartisan support to relax the current terms of the PPP loan program. Here are the key changes proposed in this bill: Extend the loan application deadline from June 30 to December 31, 2020.For new loans, the minimum loan term would be 5 years instead of the current 2-year term. For
House Passes Bill Amending PPP Program
May 28, 2020, the House of Representatives near-unanimously (417-1) passed HR 7010, the Paycheck Protection Program Flexibility Act. It is uncertain if the Senate will pass these measures, though there are clear indications of bipartisan support to relax the current terms of the PPP loan program. Here are the key changes proposed in this bill: Extend the loan application deadline from June 30 to December 31, 2020.For new loans, the minimum loan term would be 5 years instead of the current 2-year term. For
SBA Releases Loan Forgiveness Application & Tools
SBA Paycheck Protection Program Loan Forgiveness Application The U.S. Small Business Administration, in consultation with the U.S Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application. The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). SBA will also soon issue regulations and guidance
FREE CORONA VIRUS SCREENING
Complete Your Screening Today. McDowell County Emergency Services, working with the Gateway Foundation and Dogwood Health Trust have partnered to launch an online COVID-19 screening tool McDowell.ClearStep.Health, for use in stopping the spread of the coronavirus in McDowell County. McDowell County Emergency Services deployed the new tool to provide individuals with clear and accurate guidance about whether to test or self-isolate. The in-depth software combines symptom checking with screening for potential
Rural Forward Uncovers Additional Assistance For Struggling Businesses
Rural Forward North Carolina has been digging to find other funding and assistance options for our small businesses struggling to stay afloat. Aside from the federal assistance provided through the EIDL and PPP monies, RFNC has come up with this list that offers grants, free legal services, and more. GRANT: NC Local News Lab Fund Grant. “General operating grants of up to $30,000 to 501c3 public charity non-profit entities that serve North Carolina residents and their rapidly evolving information needs.
SBA Webinar On PPP
SBA North Carolina District Paycheck Protection Program Webinar On Thursday, May 7, 2020, you are invited to join us for a webinar to discuss Small Business Guidance and Loan Resources as part of SBA’s response to the COVID-19 disaster. The webinar will focus on the Paycheck Protection Program and will review eligibility, the application process, loan use, current results, and more. PPP funds are still available so be sure to join the North Carolina District Office for this presentation with a question
Employer Group Health Insurance Ending - OPTIONS AVAILABLE
If you are not eligible for subsidies through the Healthcare.gov - Thrive Insurance Solutions has many options available to consider that is affordable. Contact us at 828.442.9681 or thriveinsolutions@gmail.com We are located at the "Creekside Wellness Center" 551 Burma Road West - Marion, NC
Virtual Food Drive Helps Those In Need
Help feed your neighbors in need! When COVID-19 hit, everyone’s life was turned upside down, but for those who lost their jobs or the elderly who rely on their retirement funds to survive and the thousands of children who get fed at school, but only during the week, this became a fight for survival. These are your neighbors in western North Carolina, many of whom are not that financially stable and this pandemic just pushed them over the edge with nothing to fall back on. Anything you can do to help us
Resumption of the Paycheck Protection Program
Resumption of the Paycheck Protection Program President Trump has signed legislation, passed by the U.S. Congress, that will provide an additional $484 billion in funding for various COVID-19 related programs. Of the total, $310 billion will go to replenish the Paycheck Protection Program (PPP) while $60 billion will replenish the Economic Injury Disaster Loan (EIDL) program. In order to ensure underserved communities are not overlooked, the legislation authorizes appropriations as follows: At least
NC Unemployment Insurance Information Update
April 27, 2020 MARION NC—The North Carolina Division of Employment Security is providing the following guidance to help people understand the impacts of the COVID-19 coronavirus on unemployment insurance benefits. Before you file a claim …The fastest and most efficient way to apply for unemployment benefits is to create an online account and file online at des.nc.gov. If you’re temporarily out of work or your working hours have been reduced due to COVID-19, choose ‘coronavirus’ as your reason for
Governor Extends Shelter In Place Order Details
Gov. Roy Cooper outlines plans for reopening, stay-at-home order continues through May 8 RALEIGH – Gov. Roy Cooper outlined his plans for a phased reopening of North Carolina on Thursday, which included an extension of the statewide stay-at-home order until May 8. “Through our analysis, its clear we are flattening the curve but our state is not ready to ease restrictions yet” said Cooper at the Emergency Operations Center. The stay-at-home order includes continued closure of dine-in restaurants, bars,
Strength Training For Your Mental Health
While the majority of the world focuses on strengthing the physical and economic health of our country, its important to prioritize our mental health as well. Crises cause anxiety, disruption, and even fear as lives have been turned upside down during the COVID-19 epidemic. There are two new hotlines that have been established to help North Carolinians manage the stress and anxiety of our situation. The Hope4NC Helpline (1-855-587-3463) connects North Carolinians to additional mental health and
How Do Payroll Tax Credits For COVID-19 Payments Work?
Payroll tax credits available for paid sick and family medical leave associated with the coronavirus pandemic have been addressed in a previous JPS article. Since then, the Department of Labor and the IRS has provided additional guidance. JPS has also had the opportunity to work with businesses that are making these payments to employees and provides the following guidelines to ensure credits are properly claimed. The Families First Coronavirus Response Act (FFCRA) is one of three legislative packages
COVID-19 McDowell Cases Updated
The McDowell County Health Department has been notified that one additional McDowell County resident has tested positive for novel Coronavirus (COVID-19). The initial investigation links these individual positive cases to contact with other known positive cases. Public health staff have already initiated an investigation and will be identifying close contacts to contain the spread of disease. To protect individual privacy, no further information about the case will be released. This brings the total number
CARES Act: Relief for Hospitals, Physician Practices & Other Providers
The CARES Act includes relief to physician practices who are suffering financial loss due to COVID-19 by designating funding for the Department of Health and Human Services (HHS) Public Health and Social Services Emergency Fund. The Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law by President Trump on March 27, 2020. CARES Act provides relief to individuals, businesses, nonprofits and others affected by COVID-19. On April 10, 2020, HHS announced the immediate
North Carolina PPP Payouts by The Numbers
Paycheck Protection Program: NC Approved Loans and Dollars On April 3, 2020, SBA approved lenders were able to start processing loan applications under the Paycheck Protection Program (PPP). The PPP is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. The SBA will forgive these loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. As of April 13, 2020, more than 1
Review & Compare Loan Options With Easy Chart
We've heard the concern: There is so much information! The CARES Act is more than 800 pages long and it seems that new information comes out on loan assistance programs daily. It can be overwhelming when you are trying to decide what options are best suited to your business model. We found this helpful guide that compares the different relief loans available to businesses during this COVID-19 crisis. Paychex, a payroll and human resource company, has put out a handy tool that presents all the options and
Employment Holdups--What's Going On
April 27, 2020--UPDATE: In an interview with the United States Labor Department Division Chief, Legislation of the Office of Unemployment Insurance Michelle Beebe said that her office is working closing with and monitoring the states efforts to handle the load of applications to ensure accurate processing. She also recommended for people that have been laid off due to COVID-19 to apply online multiple times. Once approved you should receive a Guide to Unemployment either electronically or by mail. Even if
Mountain Bizworks and Dogwood Trust Open Funding for Minority-owned Businesses in the Region
Asheville (April 8, 2020) – Mountain BizWorks, working with Dogwood Health Trust, announced today a targeted effort to provide increased access to the highly anticipated Small Business Administration (SBA) Paycheck Protection Program (PPP) for nonprofits and small businesses in the region, with a focus on rural and minority and women-led organizations. The PPP was created to provide loans to organizations impacted by COVID-19 and are forgivable if they are used to cover payroll, mortgage, rent, and utility
Things Every Business Owner Needs To Do During This Crisis
What Businesses Can Do While We Wait On Financial HelpREAD MY STORY OF FINDING OPPORTUNITY IN THE MIDDLE OF TRAGEDY Instill Confidence In Your Staff And Customers--Take clear actions to reassure your staff and your customers that their health and safety are paramount concerns. Make sure people entering or interacting with your business have access to hand sanitizer, avoid handshakes and save the hugs for later. Allow staff to work remotely and provide the proper safety tools in the workplace. Educate Your
SBA Clarifies Eligibility For Faith-Based Organizations
On April 4, 2020, SBA Administrator Jovita Carranza announced SBA issued guidance clarifying all faith-based organizations impacted by Coronavirus (COVID-19) are eligible to participate in the Paycheck Protection Program and the Economic Injury Disaster Loan program, without restrictions based on their religious identity or activities, to the extent they meet the eligibility criteria outlined in the CARES Act that was passed by Congress, signed into law by President Trump, and implemented by the Paycheck
McDowell County Emergency Management Releases Online Screening Tool
McDowell County Emergency Services, working with the Gateway Foundation and Dogwood Health Trust have partnered to launch an online COVID-19 screening tool McDowell.ClearStep.Health (found at https://mcdowell.clearstep.health) for use in stopping the spread of the coronavirus in McDowell County. McDowell County Emergency Services deployed the new tool on April 2, with a goal of preventing the spread of COVID-19. The easy to use screening tool is able to provide individuals with clear and accurate guidance
NC RURAL CENTER ROLLS OUT NEW AID
The North Carolina Rural Center has a few grant and loan opportunities for nonprofit organizations, small businesses, and vulnerable worker populations. The link below shows a full list of resources and opportunities: Visit https://bit.ly/COVID-NCIDR. Paycheck Protection Program applications open TODAY, APRIL 3. Federal forgivable loan program to small businesses to pay their employees during the COVID-19 crisis. Loans will be forgiven if “(1) The loan proceeds are used to cover payroll costs, and most
Facebook Live: Loan Options Explained
Watch the McDowell Chamber's Facebook page for a live event featuring local financial professionals presenting key points of the Emergency Injury Disaster Loan and the Paycheck Protection Program loan. We'll be covering the pros and cons of each, walk through the application process, and have a Q&A session to wrap things up. The Facebook Live event will be at 10 a.m. Friday, April 3, 2020 at https://www.facebook.com/myhometownchamber/. The City of Marion, the Marion Business Association, and the
SBA Loans & PPP Loans Town Hall Zoom Now Available Online
The Chamber of Commerce hosted SBA Regional Director Sharon K. Harvey in an online Town Hall Meeting for members and residents of McDowell County on Tuesday, March 30, 2020. More than 50 people attended to learn about the emergency funding options available through the SBA and any details on the new Paycheck Protection Program that was part of the recently approved CARES Act. The SBA has been working on handling the thousands of applications coming in from every state and have a new site link and a more
SBA and Treasury Begin Unprecedented Public-Private Mobilization of $349 Million
With $349 Billion in Emergency Small Business Capital Cleared, SBA and Treasury Begin Unprecedented Public-Private Mobilization Effort to Distribute FundsWASHINGTON – Following President Trump’s signing of the historic Coronavirus Aid, Relief, and Economic Security (CARES) Act, SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin today announced that the SBA and Treasury Department have initiated a robust mobilization effort of banks and other lending institutions to provide small
Federal Rerserve Programs Enhance Liquidity and Flow of Credit
WASHINGTON – The spread of coronavirus has disrupted economic activity and put significant liquidity pressure on U.S. businesses. To immediately enhance liquidity and support American workers, households, and businesses through this challenging period, U.S. Treasury Secretary Steven T. Mnuchin today authorized the expansion of two recently launched facilities and the establishment of three new facilities to provide liquidity to the financial system pursuant to section 13(3) of the Federal Reserve
Two Additional Cases of the Corona Virus in McDowell County
The McDowell County Emergency Operations Center COVID-19 released its latest situation report on March 27, 2020, showing an additional two (2) individuals testing positive for the Coronavirus. According to the Foothills Health District, 87 people have been tested with 39 negative and 43 with still in the process testing. The two additional individuals were not identified but health officials are maintaining CDC protocol and investigatory guidelines to ensure proper handling. Also included in the report
CARES ACT EXPLAINED
MCDOWELL COUNTY--The signing of the Coronavirus Aid, Relief, and Economic Stimulus (CARES) Act by President Trump brings a sigh of relief to businesses and individuals as people hustle to prepare for isolation with the Shelter in Place Order taking effect at 5 p.m. Monday, March 30, 2020. It's also left them with many questions that have Washington officials and governors scrambling to get the correct information out and start creating the Standard Operating Procedures needed to roll this package
Internet Providers Roll Out Assistance Programs
McDowell County-Report submitted by Chris Revis, Connect McDowell Co-founder As we experience this unprecedented need for internet access during the COVID-19 crisis, here are the resources that we have confirmed are available for our members and the community at large. Verizon Wireless:Verizon is offering multiple programs and accommodations for customers during the COVID-19 crisis. These include additional data allowances at no charge and other late. Please click for more
Governor Orders Shelter In Place Effective 3-30-20
Governor Roy Cooper issued Executive Order 121, a statewide Stay At Home Order beginning Monday, March 30 at 5 p.m. until April 29, 2020. The Executive Order directs people to stay at home except to visit essential businesses, to exercise outdoors, or to help a family member. Specifically, the order bans gatherings of more than 10 people and directs everyone to physically stay at least six feet apart from others. The Order provides for essential businesses to continue to operate while prioritizing social
COVID-19 Cases In McDowell County
There are now seven (7) cases of COVID-19 (Coronavirus) that have been confirmed in McDowell County as of Wednesday, April 1, 2020, according to the Foothills Health District. As of Monday, 100 people have been tested, 62 have returned negative and 31 tests are still pending, according to the McDowell County Emergency Management. "McDowell County has been preparing for this reality and anticipated that our community would likely be impacted at some point," a press release read. "Public health staff have
USDA Moretorium Offers Peace of Mind From Foreclosures & Evictions In Rural America
WASHINGTON, DC-MARCH 26, 2020 The United States Department of Agriculture Rural Development has taken a number of immediate actions to help rural residents, businesses, and communities affected by the COVID-19 crisis. With so many out of work and in fear of losing their business and/or homes, this news out of the office of the USDA gives rural homeowners that are worried about their ability to pay their USDA home loans permission to breathe. Effective March 19, 2020, borrowers with the USDA single-family
Emergency Food & Meals Resource List (COVID-19)
Food & Meals Resource Guide The McDowell Local Food Advisory is providing a resource list that will be updated weekly with the latest on our food pantries' new times and operations. (If you see anything that is incorrect or missing, please use the attached contact info and inform them accordingly) . Revisions and updates to this document (living in the LFAC Assembly folder in Google Drive) will be provided by close of business each Monday. You'll be able to see the revision date in the top right hand
Treasury, IRS, and Labor Announce Plan to Implement Coronavirus-related Paid Leave for Workers
WASHINGTON – This week the U.S. Treasury Department, Internal Revenue Service (IRS), and the U.S. Department of Labor (Labor) announced that small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing Coronavirus-related leave to their employees. This relief to employees and small and midsize businesses is provided under the Families First Coronavirus Response Act (Act),
SBA Updates Criteria on States for Requesting Disaster Assistance Loans for Small Businesses Impacted by Coronavirus
Contact: Jennifer.Kelly@sba.gov, (202) 205-7036 Trump Administration’s aggressive, whole-of-government efforts to combat the Coronavirus outbreak (COVID-19) and minimize economic disruption to the nation’s 30 million small businesses, U.S. Small Business Administration Administrator Jovita Carranza issued revised criteria for states or territories seeking an economic injury declaration related to Coronavirus (COVID-19). The relaxed criteria will have two immediate impacts: Faster, Easier Qualification
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