WASHINGTON – The U.S. Small Business Administration (SBA) announced today that it is accepting applications for its new Community Navigator Pilot Program. This new initiative, established by the American Rescue Plan, will leverage a community navigator approach to reach our nation’s smallest businesses, with a priority focus on those owned by socially and economically disadvantaged individuals, as well as women and veterans. SBA will accept applications through July 12, 2021, and anticipates making award decisions by August 2021.
Competitive grant awards will range from $1 million to $5 million for a two-year performance period. Applicants have until July 12, 2021, to submit their applications at grants.gov. Performance periods are projected to commence in September 2021. Those eligible to apply must meet and demonstrate abilities to support the requirements of this funding opportunity.
WASHINGTON — The Treasury Department and the Internal Revenue Service announced today further details of tax credits available under the American Rescue Plan to help small businesses, including providing paid leave for employees receiving COVID-19 vaccinations.
Eligible employers, such as businesses and tax-exempt organizations with fewer than 500 employees and certain governmental employers, can receive a tax credit for providing paid time off for each employee receiving the vaccine and for any time needed to recover from the vaccine. For example, if an eligible employer offers employees a paid day off in order to get vaccinated, the employer can receive a tax credit equal to the wages paid to employees for that day (up to certain limits).
The additional details, provided in a fact sheet released today by the IRS (and available in English and Spanish), spell out some basic facts about the employers eligible for the tax credits. It also provides information on how these employers may claim the credit for leave paid to employees related to COVID-19 vaccinations.
For more details on how the paid leave tax credits from the American Rescue Plan will work for employers to enable employees to get vaccinated and recover from after-effects of vaccination, as well as for other purposes, see the snapshot also released today by Treasury.
The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.
Eligible entities who have experienced pandemic-related revenue loss include:
- Food stands, food trucks, food carts
- Bars, saloons, lounges, taverns
- Snack and nonalcoholic beverage bars
- Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
- Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts)
- Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts)
- Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts)
- Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts)
- Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products
Round 2 of the Paycheck Protection Program forgivable loan
The $900 billion Stimulus Relief Bill contains $284 billion for a second round of loans to small businesses under the federal government’s Paycheck Protection Program.
The program helps businesses harmed by the economic shutdowns during the COVID-19 pandemic.
Yes! businesses can receive a second loan called a second draw if they have spent the entire amount of the first loan on or before the date the second loan is disbursed.
The loans will be made through SBA‑approved lenders and guaranteed by the SBA. So businesses must apply to those lenders by filling out the application forms provided by the bank. It’s a good idea for applicants to check first with banks they already have relationships with to see if they will be making PPP loans.
Click the links for more information about the program.
SBA’s Economic Injury Disaster Loans and Advance Program Reopened to All Eligible Small Businesses and Non-Profits Impacted by COVID-19 Pandemic
To further meet the needs of U.S. small businesses and non-profits, the U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19 on Monday, June 15.
New capacity limit guidelines for retailers and bar & restaurant owners can be found in Executive Order 2020-97.
- If your business is within the City of Mt. Pleasant, and you need assistance determining your standard approved occupancy numbers, contact City Building Official Brian Kench at (989) 779-5301 OR at firstname.lastname@example.org.
- In addition to new capacity limits, business owners must post signs at store entrance(s) instructing customers of their legal obligation to wear a face covering when inside the store, and informing customers not to enter if they are or have recently been sick.
The Pure Michigan Business Connect (PMBC) program through the Michigan Economic Development Corporation has developed a portal specifically designed to support the personal protective equipment (PPE) needs of Michigan businesses as they start the process of re-opening.
Through the free PMBC COVID-19 Procurement Platform, the PMBC team will work to connect those businesses in need of access to PPE – including face masks, face shields, gloves, goggles and other materials as necessary to ensure the health and safety of their employees and customers – with Michigan businesses that have supplier capacity to meet that demand. Open to companies of all sizes and industries, and is available for all scales of PPE demand.
- EXAMPLES OF PREPAREDNESS & RESPONSE PLANS
- Working with leaders in health care, business, labor, and education, Governor Whitmer developed and recently released the MI Safe Start Plan.
The phases of the pandemic include:
- Uncontrolled Growth: Increasing number of new cases every day, likely to overwhelm the health system. Only critical infrastructure remains open.
- Persistent Spread: Continue to see high case levels with concern about health system capacity. Only critical infrastructure remains open, with lower-risk recreational activities allowed.
- Flattening: Epidemic is no longer increasing and health system capacity is sufficient for current needs. Specified lower-risk businesses can reopen given adherence to strict safety measures.
- Improving: Epidemic clearly decreasing and health system capacity is strong with robust testing and contact tracing. Additional businesses can reopen given adherence to strict safety measures.
- Containing: Epidemic levels are extremely low and outbreaks can be quickly contained. Health system capacity is strong with robust testing and tracing. Most businesses can reopen given adherence to strict safety measures.
- Post-Pandemic: Community spread is not expected to return (e.g., because of a vaccine) and the economy is fully reopened.
- Link to Michigan Paycheck Protection Program (MiPPP)
- The Paycheck Protection Program (PPP) from the U.S. Small Business Administration provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.
- Fully Forgiven | Funds are provided in the form of loans that will be fully forgiven when used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.
- Must Keep Employees on the Payroll - or Rehire Quickly | Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.
- All Small Businesses Eligible | Small businesses with 500 or fewer employees—including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietors, and independent contractors— are eligible.
- How to Apply | You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating.
- Consumers Energy can provide meaningful and immediate help by:
- Working with you on your utility bill
- Connecting you to potential sources of state and federal relief
- Providing new business opportunities through the Pure Michigan Business Connect Program
- Human Resources Information
- Michigan Small Business Development Center
Chamber Updates, Ways to Support Local & More
For updates on local events, COVID-19 and economic legislation: