News
NC Moves to a Safer at Home Phase 2
FOR IMMEDIATE RELEASE May 20, 2020 Phone: 919-814-2100 Email: govpress@nc.govAs Key Indicators Remain Stable, North Carolina Moves to Safer At Home Phase 2 Phase 2, Safer At Home, begins Friday, May 22 at 5 pmBars, indoor entertainment venues, gyms, and public playgrounds remain closed; Restaurants, personal care businesses, and pools open with limitations & safety requirementsRALEIGH: Governor Roy Cooper and North Carolina Department of Health and Human Services Secretary Dr. Mandy Cohen today announced
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
NC Rapid Recovery Loan - Update
Dear Rural Partners, As you may know, the NC COVID-19 Rapid Recovery Loan Program was launched by the NC Rural Center on March 24 with an initial allocation of $15 million provided by the Golden LEAF Foundation. The goal of the program was to provide emergency bridge loans to our state's small-business owners who were being affected by the economic impacts of COVID-19. As soon as we launched the Rapid Recovery program, we quickly received applications in excess of that initial funding provided by our
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
How Loan Forgiveness Works in PPP Loans
On March 27, 2020, President Trump signed into law the $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES Act or the Act). Of the $2.2 trillion in stimulus, $349 billion was allocated for Paycheck Protection Program loans (PPP). On April 24, 2020, the President signed the Paycheck Protection Program and Health Care Enhancement Act, which amends the CARES Act. Among other things, the Amendment increased the funding for PPP loans from $349 billion to $659 billion. Now that the first
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
Employers Can Defer Payroll Taxes UNTIL PPP Loan Is Forgiven
Under the CARES Act, employers of all sizes can defer the remittance of the employer’s Social Security tax due between March 27 and December 31, 2020. Instead of remitting this tax along with other payroll taxes when normally due, employers can remit half of their Social Security tax by December 31, 2021, and the other half by December 31, 2022. Note that this does not apply to the employer’s Medicare tax or to any federal taxes withheld from employees... READ MORE
Payroll Protection Program And Health Care Enhancement Act
Congress passed the Paycheck Protection Program and Health Care Enhancement Act (PPP & HCE Act) last week, and on Friday President Trump signed the fourth COVID-related legislative act into law. As a result of this additional funding, the Small Business Association (SBA) will resume accepting Paycheck Protection Program applications from participating lenders today, April 27. JPS provides an overview of the newly passed PPP & HCE Act’s $484 billion package funding... READ MORE
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,
Federal Government to Pass Second Round of Funding
On April 21, the U.S. Senate passed a $484 billion relief package to support small businesses, hospitals, and expand coronavirus testing. This new relief package comes in response to the $2.2 trillion small business stimulus package that, as we all know, quickly ran out of funding. With the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL), the SBA processed more than 14 years’ worth of loans in less than 14 days. If passed, the new relief package would provide $310 billion for
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
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
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
Mountain BizWorks, Dogwood Health Trust Partner to Provide Access to Paycheck Protection Program
Calling All Diverse-Led Nonprofits and Women or Minority-Owned Small Businesses in WNCAsheville (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
CARES Act: Individual Taxpayer Highlights
There are many pages in the CARES Act written about individual taxpayer provisions. 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. JPS has summarized some of the top provisions for individual taxpayers to consider.2020 Recovery Refund Checks for Individuals The CARES Act provides eligible individuals with a refund check, which JPS has
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
Discussing PPP, EIDLs & Tax Update
Join Rollin Groseclose & Sandra Dennison For Online Meeting - Open to Public Discussing PPP, EIDLs & Tax Update Tune in on Tuesday, April 7, 2020, 2:00 - 3:00 pm to hear JPS Rollin Groseclose, VP of Taxation Services, and Sandra Dennison, Regional Director of SBTDC, present updates on issues ranging from PPP, to EIDLs, to tax implications for small businesses of the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief and Economic Security Act (CARES Act). The webinar is free
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
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
COVID-19 Resources For Farmers Including Aid
UPDATE: The Small Business Administration system has been overwhelmed. Farm Credit is not ready to accept applications. Since it is anticipated that the funding will be limited, farmers needing funds immediately are encouraged to go to the bank where they have a depository relationship. Get the list of SBA lenders serving North Carolina small businesses by clicking here.NC State University has a regularly updated COVID-19 resource page. Please refer to this page on a regular basis. It
SBA’s Paycheck Protection Program for Small Businesses Affected by COVID-19 Launches
The U.S. Small Business Administration Administrator Jovita Carranza today launched the Paycheck Protection Program, a $349 billion emergency loan program created last week with the President’s signing of the Coronavirus Aid, Relief, and Economic Security Act (CARES). The program provides forgivable loans up to $10 million to small businesses left financially distressed by the Coronavirus (COVID-19) pandemic. The loans, which will be administered at the local level by a national network of banks and credit
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
Governor Issues Stay at Home Order Due to COVID-19 Emergency
On Friday, March 27, 2020, North Carolina Governor Roy Cooper issued Executive Order 121. The Executive Order may be found at the following link: https://files.nc.gov/governor/documents/files/EO121-Stay-at-Home-Order-3.pdf. A list of Frequently Asked Questions concerning the Executive Order may be found at the following link: https://files.nc.gov/governor/documents/files/200327_FAQ-SAH-Order_FINAL.pdf. The Executive Order, which took effect Monday, March 30, 2020 at 5:00 p.m., directs all
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
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
Golden LEAF Deploys $15M in Funding to Launch NC COVID-19 Rapid Recovery Loan Program
ROCKY MOUNT, NC – (March 24, 2020) – The Golden LEAF Foundation announces $15 million in funding to launch a rapid recovery loan program in response to economic losses related to Coronavirus (COVID-19). Golden LEAF funding will support the NC COVID-19 Rapid Recovery Loan Program by enabling loans to be made to eligible businesses for up to $50,000 with zero interest and no payments for six months. If not repaid in six months, the loan will automatically convert to a term loan. The NC COVID-19 Rapid
Workforce Resources Related To COVID-19
#WorkSmart During COVID-19 As we navigate through these challenging and unpredictable times, know that we are here to help and provide guidance on how to best manage your workforce. Like all global companies, we have been monitoring the outbreak of COVID-19 (Coronavirus) as the situation evolves. The health and well-being of our people is top priority. Our HR and business leaders are updating colleagues on the latest health and travel guidelines from the World Health Organization (WHO) and national
Small Business Support Can Make A Big Difference.
COVID-19 Response New Loan Options Now Available Mountain BizWorks is joining with partners from across the state to launch an innovative recovery resource – the NC COVID-19 Rapid Recovery Lending Program. This program is being launched with an initial allocation of $15 million from the Golden LEAF Foundation (just announced this morning) to the NC Rural Center who is coordinating the multi-lender partnership.Not a grant program Mountain BizWorks issued NC COVID-19 loans are not designed to be a singular
Combating COVID-19 With Resilience
Public authorities are taking decisive action to respond to the emerging health threat, leading the business community to reconsider the adequacy of their preparedness measures. This page brings together Global Deloitte insights to help businesses manage and mitigate the risk. Click Here to Read More!
Duke Energy and Piedmont Natural Gas Take new Steps to Help Customers, Communities and Employees
Duke Energy and Piedmont Natural Gas take new steps to help customers, communities and employees in wake of COVID-19 Will waive certain payment fees $1.3 million donated to help COVID-19 relief Some employees will receive cash payments to help offset virus-related expenses CHARLOTTE, N.C. – Duke Energy and Piedmont Natural Gas today announced a comprehensive set of steps to help customers, communities and employees manage the economic hardship caused by COVID-19. “This is an unprecedented crisis that
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
Free Financial Planning
As the nation grapples with the coronavirus pandemic, we face unprecedented challenges that will require all sectors to collaborate for the public good, including finding ways to support the millions of financially at-risk Americans who will need quality financial planning and advice more than ever before. As a CERTIFIED FINANCIAL PLANNER TM practitioner, I have partnered with the Foundation for Financial Planning (FFP) to provide pro bono financial planning to those in need. FFP will provide support
Government Opens Alternative Filing Site For Unemployment
Unemployment Insurance Update At a recent audio briefing from the White House Opportunity Revitalization Council, the U.S. Department of Labor, the U.S. Treasury Department, and the Small Business Administration, several announcements were made to streamline assistance efforts and unemployment insurance benefits. The main message for communities and small businesses to know is that this crisis is not a lost cause, said SBA Administrator Jovita Carranza. "We're cutting as much red tape as possible," she
Watch the TSI Difference
You deserve to get paid. Since 1970, TSI has been helping businesses of all sizes with their accounts receivable management. I have been helping clients maintain cash flow since 1987. Our first party, third party, and late stage collections services provide the right solution at the right time, while our industry-leading focus on data analytics, compliance, and cyber security ensure your customers, your data, and your brand are protected.Watch our video to see theTSI Difference and how it can change the way
Eat Locally: Restaurants-New Hours, New Services
Please join us in helping support our local eateries that are affected by the COVID-19 restrictions. These great local businesses have stepped up and hustled to make quick changes to serve McDowell County and stay in business. They need our support! Below is a list put together by local community champion and volunteer Morgan Pittman. We greatly appreciate her efforts to help us keep our community in the know. The City of Marion has a great tool to find your favorite restaurant with delivery options.
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Feisty Crowd Joins in Celebrating Marion's New Retro-Arcade
On Thursday, January 30, 2020, one of Marion’s newest businesses drew a feisty crowd of supporters to celebrate in a ribbon cutting ceremony hosted by the McDowell Chamber of Commerce. The Feisty Goldfish, located in the Historic Depot District, is a Retro Arcade and Bar with a modern take on a classic idea. “The first month has been beyond our wildest dreams,” said co-owner Derek Poteat, who expressed gratitude to the entire community. Local dignitaries and community supporters filled the first floor
Goodwill to Open New Store in Marion
Marion, N.C. (January 28, 2020) – Goodwill Industries of Northwest North Carolina will hold a grand opening for its first retail store in Marion, N.C., on Wednesday, Feb. 12. Local officials and members of Goodwill’s executive management team will be on hand for a ribbon-cutting ceremony at 8:45 a.m., after which the public is invited to browse and shop in the store. “This new store will serve a dual purpose. It’s a place where folks can come in and shop for great bargains on a wide selection of items,
Twisted Rod Tire Opens in Old Fort
You might say Nathan Jones runs on RPMs and motor oil. At his recent Ribbon Cutting with the McDowell Chamber of Commerce, Jones proudly introduced his staff and family to the crowd gathered at Twisted Rod Tire Co.—his second family-owned automotive service and repair shop in Old Fort. An admitted motorhead, Jones loves working on and customizing cars. The tire shop, located at 109 E. Main Street in Old Fort, sells tires, does inspections, transmission work, brakes, and oil changes. For larger jobs, Jones
Putting Their Best Foot Forward
The Chamber board and staff joined city and county officials to welcome Shoe Sensation to the community at an official Ribbon Cutting on Wednesday, October 9, 2019 at 10 a.m. The new shoe shop, located in the Food Lion Center next to Harbor Freight, carries popular brands such as Keds, Clarks, Columbia, Converse, Crocs, CAT, Echo Bat, Easy Street, and more. This is the fourth location in North Carolina for the Indiana-based company. Since 1984, Shoe Sensation has focused on bringing America's top footwear
90 Years of Supporting McDowell County Families
It's rare in today's world of commerce for anyone to hold a job for 50 years. It not only takes a committed employee, it takes a business that is committed to the community, its product, and its family of employees. In a proud moment on Saturday, September 28, 2019 Lester Welch, WestRock's longest serving employee, cut the ribbon to commemorate the company's 90th anniversary of business in McDowell County. WestRock Marion began operations in 1929 as Etta Paper Box Company and was founded by local
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