Please be aware: We are in contact with officials on many levels of government daily, and will aspire to provide our members and the business community of the Bedford County region with as much information as possible. The Chamber will update our website as we have new information and resources to share. Please also follow our social media platforms for the latest information.
March 30, 2020 – 4:30 pm
March 30, 2020 – 8am
As many of you are aware, the Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the “Paycheck Protection Program,” the initiative provides 100% federally guaranteed loans to small businesses who maintain their payroll during this emergency. Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.
Coronavirus Small Business Emergency Loans Guidance & Checklist
We are also recommending this article from Forbes that helps to explain the bill and its benefits for small businesses.
Please don’t hesitate to contact the Chamber if we can be of assistance.
March 30, 2020 – Thank you to Terri Johnson, CPA for sharing this e-newsletter with valuable info about the CARES act with us, including an individual stimulus calculator (for households), unemployment info and more:
March 27, 2020
The CARES Act, passed by Congress, makes $349 Billion in capital available to small businesses immediately, with a particular emphasis on payroll. (Including a “loan” that would be forgiven for 8 weeks of payroll up to $10,000.) Additional loans will also be available, a.. can be requested even if you have applied for and/or been granted a previously-available disaster loan. Community banks and credit unions can take inquiries and will be utilized by the federal government to assist in processing applications. Apply online: sba.gov/disaster
Additional details are available here: CARES Act – Small Business Explainer
March 24, 2020
The Families First Act: Click here for clarification of information for employers and employees, and links to SBA webinars this week to help businesses apply for disaster assistance.
Downloadable pdf’s with information on the Families First Act requirements and benefits:
March 25, 2020: The Pennsylvania Industrial Development Authority (PIDA) Board of Directors took action today to make $61 Million available for working capital loans to small businesses. Small businesses are defined as for-profit businesses with fewer than 100 employees (WORLDWIDE) at the time of application. While not specified in the guidelines, the interest rate will be 0% except for Ag Producers, which shall have a rate of 2%.
All applications need to be submitted by and through a certified area loan organization. BCDA is the CEDO (Certified Economic Development Organization) for Bedford County. Tabitha Barbarito is the contact for this program. Businesses may inquire at email@example.com
Click Here for additional information available to businesses state wide from Small Business Development Center.
BUSINESS PRODUCTS, EDUCATION AND ENRICHMENT RESOURCES:
- Training Tuesdays – Multiple Topics, Corey Christman, Vethos, LLC
- Think-Tank Thursdays – Collaboration Calls, Facilitated by Corey Christman, Vethos, LLC
Tips for Small Businesses to Plan for and Respond to Coronavirus
Health and government officials are working together to maintain the safety, security, and health of the American people. Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy. For guidance and tips for your small business to plan and respond, please click here.
Guidance for Employers – Click here to download CDC guidance for employers to plan and respond to the Coronavirus.
Workplace Tips – For workplace tips and resources for employers to combat the virus, click here.
Corporate Aid Tracker – Click here to view our corporate aid tracker for details on how businesses are helping nationwide.
Resilience in a Box – If your business needs help putting a plan in place, click here to use the U.S. Chamber Foundation’s toolkit created in partnership with the UPS foundation.
Links to Important Websites with COVID-19 Information:
Shutdown Information for Businesses – Additional Info
Here is a downloadable pdf list of the defined “Life Sustaining Businesses”: Life-Sustaining-Business
Employers with questions about whether their organization needs to close to contact DCED: firstname.lastname@example.org.
Businesses that would like to seek a waiver should contact the state using this email address:
DCED offers WORKING CAPITAL LOANS that could be of assistance to businesses impacted by COVID-19. Resources and information is available here: http://dced.pa.gov/resources.
The U.S. Small Business Administration, in addition to local funding partners, may also be a source of assistance for affected businesses. The SBA has issued a disaster declaration for the state of PA. Businesses should visit: http://sba.gov/disaster to apply for Economic Injury Disaster Loans (EIDL).
Unemployment Compensation and COVID-19: You may be eligible if your employer temporarily or permanently closes; your hours are reduced; you’ve been told not to work to mitigate COVID-19; you’ve been told to quarantine or self isolate. https://www.uc.pa.gov/Pages/covid19.aspx
Through the Chamber Choice parntership My Benefit Advisor (MBA) is available exclusively to Chamber members as a solution for employee benefits. MBA recently hosted a webinar for their clients to discuss the various benefits and business issues employers are facing during the COVID-19 outbreak. For more information about My Benefit Advisor or if you have any questions, contact us at (800) 377-3539 or email@example.com
MBA has decided to share the recording of this webinar because of its importance and as an example of the guidance and support provided to our clients on a regular basis.
Webinar Password: MBAWebex@2020
Resources for Non-Profit Organizations:
The Community Foundation for the Alleghenies has announced a fund specifically designed to help non-profits deal with the challenges of the COVID-19 crisis. Click Here to Read the Full News Release