News

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

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

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

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, and close-contact businesses found in Executive Order 120. “We know we can’t keep staying

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

Click here to Learn how to maintain a Healthy Cash Flow During Covid-19

ACCELERATE PAYMENT VISIBILITYWhile staying Fiscally Responsible AND Compassionate Greetings! I hope that you, your family and your employees are safe and healthy and that your business is able to keep moving forward during this global health/financial crisis.   As you read this email, millions of small to medium size companies, corporations and practices are trying to figure out how to stay ahead of the curve and come out of this crisis with as little damage financially as possible.  The one question

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

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

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’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

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

How You Can Help Kitsbow

HOW YOU CAN HELP Yesterday we announced that we’d begin immediate production of medical provider masks and face shields. The response — especially from those offering help — has been truly humbling. Thank you. Many want to help, some offering to make masks in their homes; and while we deeply appreciate this offer, we cannot do so for these reasons: For us to make the most protective masks possible, our design requires the use of an industrial grade sewing machine. Some of the materials (like HEPA filter

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

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

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

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

Preserving Cashflow In The Face of The Coronavirus

March 20, 2020 As we all continue to process and address the effects of the coronavirus, it’s clear that there has been and will continue to be a widespread and significant financial impact. It is critical to a business’s future to consider ways to preserve, limit the loss of, or, gain access to cash.Here are some tips to consider: It’s important to look ahead and project cash flow needs as much as possible. This can be done by looking at a monthly budget or historical activity. This can help you

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

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.

WNC Bigfoot Festival Guide

Cybersecurity for Small Businesses

By: Thomas A. Stith IIISBA North Carolina District Director Just like the economy, online shopping is booming in America. However, a prospering business can quickly become troubled should a cyber-thief cross your computer system. The U.S. Small Business Administration encourages entrepreneurs and consumers to prevent these virtual thieves by being aware of recent trends and staying alert to warning signs.  The cost of cyber-crimes reached $2.7 billion in 2018, according to the FBI’s Internet Crime

Visit NC Farms

Our county boasts some of the most diversified farmland in the region. We are home to a multitude of diversified small family farms, vineyards & wineries, roadside stands, farmers’ markets, and CSAs, nurseries and gardens, and eating and drinking establishments that source local ingredients. We have a rich agricultural heritage that speaks to generational farmers as well as those who are new to the agricultural sector, which further strengthens our offerings to our communities. Many day-trippers are

Working for McDowell Small Business - Chamber Health Insurance for Western North Carolina

Knowing what matters to small businesses  Aetna Funding Advantage (AFA) makes it easy for members of any Chamber of Commerce in 27 western North Carolina counties to save money on their benefits.  And now, these businesses can save on average, and additional 2% on monthly costs through Chamber Health Insurance for Western North Carolina*. $168 per employee average annual discount for businesses that are part of Chamber Health Insurance for Western North Carolina that enrolls in an Aetna Funding

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,

Miller Complex Flexes Its Muscles With New Gym

Clanking weights, bass-pumping tunes, and the occasional grunt are all welcome sounds at the McDowell Fitness Center (MFC) in the Larry D. Miller Business Complex. This full-service gym, owned and operated by Misty Morris and her husband William Morris (of Morris-Herron Heating & Cooling), provides everything from weight training and state-of-the-art equipment to crossfit and TRX Training.  The Chamber of Commerce recently held a Ribbon Cutting to commemorate the opening of the new business where Misty and

The Sweet Sound of Success

Who says old is out of style? Not the judges at the 2019 Asheville Food & Wine Festival who awarded Marion’s Keeper’s Cut Meadery with Double Gold, Gold, and Silver awards for their exquisite, flavorsome honey wines. The winning meads, 2016 Amarena (Double Gold), 2016 Anann Te (Gold), and their 2016 Autumn (Silver) stood out at the awards table rising to the top with other regional winemakers. Vintners such as DeTerra out of Tennessee, Jones von Drehle Vineyards in North Carolina, and Whitebarrel out of

Falling for The Pond at Laurel Cove

The sun rested on the tops of the trees before descending over the mountain. Blazing streaks of reds, yellows, and oranges stretched across the water bathing the resident ducks in color.  They clustered at the far corner of the pond shying away from the crowds at the grand farmhouse-turned wedding venue, The Pond at Laurel Cove.  Old Fort residents and owners Lisa and Patrick Ellis were excited to host local dignitaries, Chamber staff, friends, and family for the official Ribbon Cutting held Tuesday,

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