Latest information on latest stimulus bill, February 2021. See here:
Rural Relief Small Business Grant from Lowe's and LISC. See
State and local governments now have until the end of the year,2021,to spend last year's Corona Virus Relief Fund.
USDA Additional Direct Assistance to Farmers and Ranchers Impacted by the Coronavirus see
Coronavirus Food Assistance Program 2 for Livestock Producers
If you commercially raise animals for food, fur, fiber, or feathers, you may be eligible for assistance. Check to see if you raise eligible livestock through our Eligible Commodities Finder on the link below.
USDA’s Farm Service Agency will accept CFAP 2 applications through December 11, 2020.
Learn more at farmers.gov/cfap or call 877-508-8364 to speak directly with a USDA employee ready to offer assistance.
New Business Relief Loan Program is for covid-related set-backs. It is through the North Central Regional Planning Commission, and has favorable rates. See https://www.ncrpc.org/services/nckbusinessrelief/
New Paycheck Protection Program for 2021 now Open. See details in document:
Includes Farmers and Ranchers and Non-profits. May apply for Round One or Two.
With the 2021 Stimulus passed, PPP is now open through your local bank for Paycheck Protection Plan. You may do a new or second round. This is all done through your local bank. This round has some differences from the first round.
U.S. Treasury reported . . .
Key PPP updates include:
PPP borrowers can set their PPP loan’s covered period to be any length between 8 and 24 weeks to best meet their business needs;
PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures;
The Program’s eligibility is expanded to include 501(c)(6)s, housing cooperatives, destination marketing organizations, among other types of organizations;
The PPP provides greater flexibility for seasonal employees;
Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount; and
Certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan.
A borrower is generally eligible for a Second Draw PPP Loan if the borrower:
Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses;
Has no more than 300 employees; and
Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.
Stuck in PPP Loan Limbo? https://www.inc.com/video/stuck-in-loan-limbo-heres-what-to-know.html?utm_source=incthismorning
Check with your local bank regarding Economic Injury Disaster Loans (EIDL): The SBA is resuming processing EIDL applications in 2021 that were submitted before and new applications are being accepted for all small businesses. First-come, first-served basis. Easiest to call your bank and work through them. This site below contains some info on how to fill out the forms from the bank.
Farmers and Ranchers- The FSA also has a program that the direct support idea covers. Please visit with your FSA office regarding this.
As reported by the USDA, the program will provide:
Direct Support to Farmers and Ranchers: The FSA program will provide $16 billion in direct support based on actual losses for agricultural producers where prices and market supply chains have been impacted and will assist producers with additional adjustment and marketing costs resulting from lost demand and short-term oversupply for the 2020 marketing year caused by COVID-19. FSA is a different program that has the 16 billion funded through USDA, so go through the FSA office.
PPP will fund Farmers and Ranchers if you don't have a net 0 on Schedule F. The EIDL is not based on Schedule F, and is now including farmers, and is part of the 60 billion more dollars added into the small business program. SBA Economic Injury Disaster Loan (EIDL) is based on 12 months prior to disaster declared January 31, 2020 including Sales less Cost of Goods Sold x 50% = Potential eligible loan amount. Use the Streamlined Portal below, and work through your bank.
USDA Purchase and Distribution: USDA will partner with regional and local distributors, whose workforce has been significantly impacted by the closure of many restaurants, hotels, and other food service entities, to purchase $3 billion in fresh produce, dairy, and meat. https://www.ams.usda.gov/selling-food-to-usda/usda-food-box-distribution-program https://www.usa.gov/become-government-contractor
There are 2 main "loans" with forgiveness provisions out. I'll cover the SBA 7(a) here, and the EIDL under #2. Farmers and churches are eligible as well if affected by the situation. Any 501
c, d or e may apply. Also remember the expanded unemployment program may work well or even better for your business if you need to "furlough" your employees. See middle of page with PDF button.
The new Stimulus Bill allows for SBA 7 (a) Emergency Loan (with Forgiveness Provisions) to be used for Business Relief for profit and non-profits. It contains the Paycheck Protection Program. According to Congressman Scalise, your local bank will be the lender you will go through.
Want a Chart to figure out the differences between the PPP and the EIDL? See https://docs.google.com/spreadsheets/d/12xv4xcsg_9xoVeEE_Y1j2sicNbCvl2GAVinSowU2zgg/htmlview?urp=gmail_link
Note: Go through your bank to see if the 2021 EIDL is different. This was the 2020 guidance.
A $10,000 advance is now available to help the business meet its immediate needs due to HARDSHIP. If eligible, the $10,000 advance/grant will be provided in 3 days.
Keep in mind that this new web portal does NOT allow you to save your
work, so you will need to finish it OR lose it and start over.
The only way to get the $10,000 advance is through the web portal. If you request the advance, you will NOT lose your place in line for the loan application portion of SBA EIDL.
You can apply for the EIDL loan AND the 7(a) but they cannot cover the same expenses. Keep ALL records!
New Childcare financial help for "Heroes" eligibility found here: http://ksherorelief.com/ (child care providers for essential workers, food workers, frontline child and adult caregivers, etc. included...)
Unemployment is still open - See bottom of page. They just want you to apply by the letter of your last name due to overuse of the site.
People with last names starting with A through M are asked to file Sunday, Tuesday and Thursday. Individuals with N-Z last names are asked to file Monday, Wednesday or Friday. Anyone who misses their day can file Saturday instead.
This program was helpful during the Recession when employees had to be laid off.
What to Do if Your Employees don't want to Return to Work? https://www.inc.com/video/what-to-do-if-employees-dont-want-to-return-to-work.html?utm_source=incthismorning
Will you lose your loan forgiveness if your employees refuse to come back to work? See https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf Question 40, p. 13.
Paid Leave Under the Families First Coronavirus Response Act
The U.S. Department of Labor announced how American workers and employers can benefit from the protections and relief offered by the Emergency Paid Sick Leave Act and Emergency Family and Medical Leave Expansion Act, both part of the Families First Coronavirus Response Act (FFCRA).
The program will help the country combat the workplace impacts of the coronavirus by reimbursing employers with fewer than 500 employees with tax credits. FFCRA will ensure that workers are not forced to choose between their paychecks and the public health measures needed to combat the virus, while at the same time reimbursing businesses.
FFCRA will be administered by the Department of Labor’s Wage and Hour Division.
FFCRA https://www.dol.gov/agencies/whd/ffcra is a temporary measure and will be effective from April 1, 2020, through December 31, 2020.
This is a poster that can be hung at work sites with under 500 Employees. It clearly spells out the rules for Employers and Employees regarding work leave.
The U.S. Department of Labor (DOL) has published guidelines for the Families First Corona Response Act (Emergency Paid Sick Leave and Emergency Family and Medical Leave).
Unemployment Provisions are laid out well by Marshall Roger's Office. See link above with the FFCRA link.
Business TAX Provisions - Some good stuff here. Roger Marshall.
Documentation for Restaurants and Liquor Stores on ABC's Curbside Regulations.
One of the best resources I've found, in case you still need something, is here. Covers business and manufacturing and individual concerns. Skip the Q&A due to some outdated info, but see all the buttons available! https://greatplainstmc.org/covid-19-resource-guide-1
This website has all the services the government is providing through each branch for Covid concerns.
Latest KS Covid site: https://covid.ks.gov/ If you are an employer and want free listing (along with our jobsite), you can put any job up on the KansasWorks page that is for people looking due to Covid-19.
Many Marshall County businesses are learning the hard way that it is crucial for survival to have an online presence. Here is some free training on how to do that. http://srdc.msstate.edu/ecommerce/curricula/beginners_guide/
If you have no recourse as a business but to close, please call Ellen Barber at 785-207-7598.