Are you interested in the Paycheck Protection Program (PPP) and how it could help your business? North County Inc. recently gave a webinar on the program. You can watch it below.
Some key updates to the new PPP Program 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, direct 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;
- Certain existing PPP borrowers will be eligible to apply for a Second Draw PPP Loan beginning January 13.
Missouri Department of Economic Development
The Missouri Recovery Lab includes a new resource directory that's designed to assist businesses and nonprofit organizations across multiple industries with disruptions due to COVID-19.
In addition to businesses, the directory compiles resources from across the state for communities and citizens. The resources are available on an easy-to-use web page that enables users to search or filter by region, categories, or keywords.
Some of the available resources that can be found in the directory include:
- Financial assistance
- COVID-19 guidance
- Healthcare and telehealth services
- Local food banks
Find the directory at https://showmestrong.mo.gov/directory/.
|A coronvirus survival guide for small businesses with all the US Chamber’s information in one spot.
|US Chamber of Commerce Foundation
|The US Chamber of Commerce Foundation’s list of programs providing financial assistance to small businesses impacted by COVID-19, including links to grant groups, relief funds, and loans.
|Small Business Administration (SBA)
|The SBA has created a comprehensive guide to many of the small business provisions in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was just passed by Congress. These programs and initiatives are intended to assist business owners with whatever needs they have right now.
|Gateway Resilience Fund
|This fund will provide short term monetary relief to employees and owners of independent bars, restaurants, and shops in the St. Louis area affected by closures and other circumstances brought about by the COVID-19 outbreak.
|Save Small Business Fund
|The Save Small Business Fund is a grantmaking initiative offering short-term relief for small employers. Funded by corporate and philanthropic partners, the Save Small Business Fund is a collective effort to provide $5,000 grants to as many small employers as possible. Their goal, and our hope, is that these supplemental funds will help you get through the next days and weeks.
|Small Business Resource Program
|To help mitigate the financial impact of COVID-19, the St. Louis Economic Development Partnership (Partnership) joined the St. Louis Development Corporation (SLDC) to announce the Small Business Resource Program (SBRP), which will include a hotline to connect small businesses to resources as well as a newly created zero interest loan program for small businesses in the City of St. Louis and St. Louis County.
|Small Business Resource Discretionary Grant Program
|This St. Louis County program will give $500 discretionary grants to help sole proprietors, contract workers, gig workers, 1099 workers, and other businesses who do not qualify for the Small Business Resource Program (SBRP). The grant program is giving a preference for businesses in the Promise Zone area in North County and Lemay in South County to help businesses lessen the burden of paying for rent or even for groceries to help them get through this crisis.
Missouri Enterprise has a page of resources designated for manufactures. You can visit them here.
Our local chambers have all been working together to provide resources. Check them out: