Berthoud Business Executives:
Belwo is information that may clarify a number of your questions. Attached is a graphic that explains the differences between the EIDL and PPP programs.
Still trying to estimate the EIDL loan Advance your business can receive?
The SBA has released new information to their partners that to maximize the number of businesses who receive Advances, the amount of the Advance will be determined by the number of the small business’ pre-disaster employees. The Advance will provide $1000 per employee, up to $10,000.
Small Business Development Centers have ramped up their capacity to provide no-cost consulting to small businesses impacted by COVID-19.
The Larimer SBDC and LBDC have 15 disaster recovery consultants with 70+ available consulting hours each week, including evening and weekend appointments. If you haven’t yet connected with them, now is the time!
Do you still have questions about applying for SBA Payroll Protection Program (PPP) loans? You are not alone, and some of the small details changed after the program officially rolled out. The U.S. Treasury Department gets into the gritty details with explanations of definitions, updated program interpretations (including alternate eligibility definitions), and FAQs focused on the fine print. If you haven’t already contacted your lender to see if they are offering these loans, you should reach out immediately, as initial demand has been high. SBA has a “find a lender” tool, but not all PPP lenders are extending PPP to new customers. PPP just opened up to Sole Proprietors and Independent Contractors as of April 10th.
Are there just too many lists like this one?
Info for businesses is fragmented across multiple mailing lists, websites, and social media channels. Resources and rules have been changing quickly. Chamber of commerce professionals and economic developers from across the region have launched a single source of up-to-date information to support our business community:NoCoRecovers.com. This is a coordinated, one-stop-shop with the most recent information on resources available to support businesses impacted by the COVID-19 pandemic now and will continue to connect businesses to the right information and resources as we move into the economic recovery process.Bookmark it now.
Please keep our local businesses in mind as we go about our daily activity. Shop local as much as you can. Let’s help each other weather this storm.
Walter J. Elish
Business Development Manager
Town of Berthoud
807 Mountain Avenue
Berthoud, CO 80513
970-532-2643; 970-541-8989 c.