With $349 Billion in Emergency Small Business Capital Cleared, SBA and Treasury Begin Unprecedented Public-Private Mobilization Effort to Distribute Funds
WASHINGTON – Following President Trump’s signing of the historic Coronavirus Aid, Relief, and Economic Security (CARES) Act, SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin today announced that the SBA and Treasury Department have initiated a robust mobilization effort of banks and other lending institutions to provide small businesses with the capital they need. The CARES Act establishes a new $349 billion Paycheck Protection Program. The Program will provide much-needed relief to millions of small businesses so they can sustain their businesses and keep their workers employed. “This unprecedented public-private partnership is going to assist small businesses with accessing capital quickly. Our goal is to position lenders as the single point-of-contact for small businesses – the application, loan processing, and disbursement of funds will all be administered at the community level,” said Administrator Carranza. “Speed is the operative word; applications for the emergency capital can begin as early as this week, with lenders using their own systems and processes to make these loans. We remain committed to supporting our nation’s more than 30 million small businesses and their employees, so that they can continue to be the fuel for our nation’s economic engine.” “This legislation provides small business job retention loans to provide eight weeks of payroll and certain overhead to keep workers employed,” said Secretary Mnuchin. “Treasury and the Small Business Administration expect to have this program up and running by April 3rd so that businesses can go to a participating SBA 7(a) lender, bank, or credit union, apply for a loan, and be approved on the same day. The loans will be forgiven as long as the funds are used to keep employees on the payroll and for certain other expenses.” The new loan program will help small businesses with their payroll and other business operating expenses. It will provide critical capital to businesses without collateral requirements, personal guarantees, or SBA fees – all with a 100% guarantee from SBA. All loan payments will be deferred for six months. Most importantly, the SBA will forgive the portion of the loan proceeds that are used to cover the first eight weeks of payroll costs, rent, utilities, and mortgage interest. The Paycheck Protection Program is specifically designed to help small businesses keep their workforce employed. Visit SBA.gov/Coronavirus for more information on the Paycheck Protection Program. Loan Terms & Conditions
SBA’s announcement comes on the heels of a series of steps taken by the Agency since the President’s Emergency Declaration to expeditiously provide capital to financially distressed businesses affected by the Coronavirus (COVID-19) pandemic. Since March 17, SBA has taken the following steps:
Visit SBA.gov/Coronavirus for more information on SBA’s assistance to small businesses.
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Community partners will be offering a livestream informational meeting through the City of Fairfield, on Thursday, April, 02 at 11:30. *Jefferson County does not have a lab confirmed case of COVID-19 *Jefferson County Health Center has released testing information: follow them on Facebook *IDPH Guidance for WIC https://idph.iowa.gov/News/ArtMID/646/ArticleID/158321/IDPH-Gives-Guidance-for-WIC-Recipients33120 *CDC Guidance for pregnancy and breastfeeding https://www.cdc.gov/coronavirus/2019-ncov/need-extra-precautions/pregnancy-breastfeeding.html *See the link below for the Iowa map of COVID-19 information https://idph.iowa.gov/Emerging-Health-Issues/Novel-Coronavirus *Jefferson County Health Center COVID-19 Hotline is available between 7AM and 5PM, 7 days a week, at: 641-469-4180 *Iowa Department of Public Health 2-1-1 COVID-19 hotline is available Locally Jefferson County Public Health, Jefferson County Emergency Management, Jefferson County Health Center continue to work with local elected officials and community partners on a daily basis to best respond to the COVID-19 public health pandemic. xxx Follow us on Facebook: Jefferson County Public Health, Jefferson County Emergency Management, Jefferson County Health Center, City of Fairfield, Iowa Government
March 30, 2020
Dear United States Postal Service Customer, We are finding ourselves in challenging circumstances as the world grapples with COVID-19 response. As a business owner, you are adjusting by the day or even by the hour to the ever-changing business climate. One thing has been certain throughout this- The United States Postal Service (USPS) continues to operate and provide essential services to the American public. As we spend even more time in front of our devices on virtual and web based meetings, we are also seeking ways to digest content that is offline in a non-digital format. Right now, more than ever, you literally have a captive audience as more and more people are working from home. And guess what, those mail pieces are gaining more and more attention. Here are some options available to help you maintain and grow your business operations- 1. Every Door Direct Mail (EDDM): Are you a restaurant trying to make the community aware of your carry out menu options or adjusted hours? Maybe you’re a local clothing store or other small retailer that needs to make the community aware that you offer shipping of your products. EDDM is affordable, targeted marketing that will allow you to saturate an area around your location. This is also a great means of communication for political candidates as the ability to host events to meet constituents one on one has now gone by the wayside. Candidates can utilize EDDM to fundraise, share their stand on issues, and get out the vote. 2. Informed Delivery: Informed Delivery allows residential customers to receive a digital preview of their daily household mail. What this does for business mailers is it allows you to engage users through an integrated mail and digital campaign to drive impressions and brand awareness. That physical piece of mail is no longer just sitting on the kitchen table, it’s now on your mobile device with a link to your unique offer. Oh, and did I mention that Informed Delivery emails have an average open rate of 63%. So, if your customers aren’t opening your emails, why not leverage our platform? 3. Shipping Services: Whether you’ve been shipping for a while or are new to shipping for your business, USPS is here to help. If you have been shipping for a while, when’s the last time you completed a shipping audit of your existing shipping services? I can provide guidance on solutions for everything from managing your returns process, label printing, and understanding how best to ship your products to ensure safe, timely delivery of your products with tracking. Our rapidly changing business environment demands that we get creative in how we maintain continuity and grow our business. The United States Postal Service is here to support you through these uncertain times. If you need help, please contact me at 515-201-2458 or rachael.a.saluri@usps.gov . Rachael Saluri Shipping & Mailing Representative United States Postal Service 515-201-2458 rachael.a.saluri@usps.gov *President Trump has extended social distancing until April 30, 2020 *Jefferson County does not have a lab confirmed case of COVID-19 * See the link below for the Iowa map of COVID-19 information https://idph.iowa.gov/Emerging-Health-Issues/Novel-Coronavirus Jefferson County Health Center COVID-19 Hotline is available between 7AM and 5PM, 7 days a week, at: 641-469-4180 Iowa Department of Public Health 2-1-1 COVID-19 hotline is available Locally Jefferson County Public Health, Jefferson County Emergency Management, Jefferson County Health Center continue to work with local elected officials on a daily basis to best respond to the COVID19 public health emergency. xxx Follow us on Facebook: Jefferson County Public Health, Jefferson County Emergency Management, Jefferson County Health Center, City of Fairfield, Iowa Government
Emergency Funding and Resources for the Creative Sector During COVID-19 Outbreak
Here at the Iowa Department of Cultural Affairs, our mission is to help Iowans build culturally vibrant communities, even – and especially – in tough times. Art, music, film and history help us connect with each other even when we’re physically apart. With that in mind, we’ve rounded up a list of critical resources currently available to help Iowa artists, musicians, cultural organizations and small businesses navigate the next few weeks and months. At the federal level, Congress is working to pass the CARES Act, which includes additional resources for individuals, independent contractors, self-employed workers, small businesses and nonprofits. As those resources become available, we will pass them along. Please follow the links below to find:
Additionally, Iowans who support arts and culture can help in many important ways:
In addition to the resources above, the state has created a new website where you can find information about COVID-19 in Iowa. If you have any questions, please feel free to contact our staff. We are here to help. Take care, Chris Kramer Director, Iowa Department of Cultural Affairs Iowa Workforce Development has implemented updates to its leave policy for filing unemployment insurance benefits following the enactment of the CARES Act. Effective immediately, employees who are or will be laid off, or are unable to work for reasons related to COVID-19, will no longer be required to use all paid leave prior to being eligible for unemployment insurance benefits. This change is not retroactive and claims will not be backdated prior to the week of March 29, 2020, for new or existing claims by individuals who work for employers.
The policy requiring claimants to use all available paid leave prior to filing for unemployment benefits was necessary to help sustain the Iowa Unemployment Trust Fund, which is funded entirely by employers doing business in Iowa and is the source of all benefit payments to claimants. The enactment of the CARES Act has provided a significant source of additional funding for claimants, and this policy change reflects the evolving situation. The CARES Act benefit programs will expand the group of people eligible for unemployment benefits to include the self-employed, independent contractors, nonprofit employees, and gig economy workers as well as workers who have exhausted their benefits. Iowa Workforce Development will continue to share more information as guidance from the Department of Labor is received. Due to the complexity of program requirements, this process will take time. As the programs become available, IWD will post updates on our website, and share through media outlets and social media. We appreciate your patience as we work through the details. For updates about COVID-19-related information, please visit www.IowaWorkforceDevelopment.gov In an effort to support local businesses during this time, First National Bank and Iowa State Bank have purchased Chamber Bucks from the Fairfield Area Chamber of Commerce! They will be randomly giving away Chamber Bucks to their customers and employees throughout the week. Chamber Bucks can be spent at any Fairfield Area Chamber Member business. For more Chamber Bucks info, click here.
FEDA (Fairfield Economic Development Association) has created a consolidated resource webpage for COVID-19 business recovery resources. The webpage includes information on financial assistance, information for the workforce and workplace, COVID-19 impact on Iowa, and health. Please visit the following link; this webpage is updated daily.
https://growfairfield.com/businessrecovery/ This is only information - It is not the actual application. Use this document to prepare to complete the application online at: https://www.iowaeconomicdevelopment.com/programDetails?pid=136&ppid=26 Go to this website to read FAQs: https://tax.iowa.gov/COVID-19 Online application deadline is Tuesday, March 31st at 12pm (noon). Iowa Small Business Relief Grant & Tax Deferral Application The State of Iowa is currently issuing grants and tax deferrals for small businesses in Iowa. The website to make this application may be inaccessible due to high traffic volume. If you are planning to apply, have the following information ready to enter: Disaster Event: COVID -19 Pandemic ______ # of employees ______ Are you also applying for the tax deferral? ______ Grant amount requested ______ Describe the Economic Injury (Loss of Sales or Revenue) Section 1: Business Information
Section II: Ownership Information Owner Applicant 1 Full Legal Name: Title: % Owned: Owner Applicant 2 Full Legal Name: Title: % Owned: Section III: Impact of Disaster
Section IV: Attachments
Section V: Certification & Release
Sign Off I hereby give permission to the Iowa Economic Development Authority (IEDA) and Iowa Department of Revenue (IDR) to research the Business’ history, make credit checks, contact the Business’ financial institutions, insurance carriers, and perform other related activities necessary for reasonable evaluation of this application. I also hereby authorize the Iowa Department of Revenue to provide to IDEA state tax information pertinent to the Business’ state income tax, sales and use tax, and state tax credits claimed. I understand that all information submitted to IEDA and IDR related to this application is subject to Iowa’s Open Record Law (Iowa Code, Chapter 22), unless specifically marked as confidential section. I understand the IDEA reserves the right to negotiate the financial assistance. Furthermore, I am aware that the funds will not be disbursed until a contract has been executed and the appropriate terms have been met. I hereby certify that all representations, warranties, or statements made or furnished to IDEA and IDR in connection with this application are true and correct in all material respect. I understand that it is a criminal violation under Iowa law to engage in deception or knowingly make, or cause to be made, directly or indirectly, a false statement in writing for the purpose of procuring economic development assistance from a state agency or subdivision. Authorized Business Signature: Print Name: Date: ******
If you are interested in applying for the Iowa Small Business Relief Grant & Tax Deferral Program, you may have found the website to complete the application is overloaded. The information listed above is the transcribed application. THIS IS NOT AN ACTUAL APPLICATION but rather all the information needed to complete that online form. Use this tool to prepare your information so that once you are able to gain access to the online form, you can complete the form in one visit. This includes gathering e-documents to attach to the application online. For clarification; the form is actually a combined document that serves two purposes.
Do visit the FAQ website (address is also provided above) for further information. Access to that page was more easily reached than the online form. |
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