Funding Options - Golf - News from Washington DC
On August 8th, President Trump signed Executive Orders to defer payroll taxes from September 1 – December 31, 2020. Watch for updated information as the Secretary of the Treasury shall issue guidance for implementation. For more information, visit: https://www.whitehouse.gov/presidential-actions/memorandum-deferring-payroll-tax-obligations-light-ongoing-covid-19-disaster/.
The Executive Orders also expanded unemployment insurance benefits, also known as “Lost Wages Assistance”. This program is expected to run from August 1st to December 6th but could end earlier based on when the $25 billion in available funds run out. Workers can receive $400 a week in supplemental unemployment insurance with $100 paid by state matching funds. For additional information, please visit: https://www.whitehouse.gov/presidential-actions/memorandum-authorizing-needs-assistance-program-major-disaster-declarations-related-coronavirus-disease-2019/.
You can still apply for the Emergency Injury Disaster Loan (EIDL). This low interest program is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds can be used to cover a wide array of working capital and normal operating expenses, such as continuation of health care benefits, rent, utilities, and fixed debt payments. More information and an easy application are available at: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources .
Main Street Lending Program is designed to provide support to small and medium-sized businesses and their employees across the United States during the current period of financial strain by supporting the provision of credit to businesses. The availability of additional credit is intended to help companies that were in sound financial condition prior to the onset of the COVID-19 pandemic maintain their operations and payroll until conditions normalize. Also available to companies that have received PPP funding. If interested, more information is available at: https://www.federalreserve.gov/monetarypolicy/mainstreetlending.htm.
If you qualify but have not yet taken the time to apply, funds are still available for the Salt Lake County Small Business Impact Grant (SBIG). This grant program, which offers up to $35,000, will close on November 1st or when funding runs out. You can learn more about the grant program and the eligibility criteria at: https://slco.org/covid-19/economy/grants/?ref=frontSlider
Qualifications can be viewed at: https://app.smartsheet.com/b/form/aec6ae565e1a4222b1c3d298a4fe88bb.
Information and materials for three current Utah GOED grant programs are online:
- ComRent – Still available
- Safe In Utah – Still available
- Shop In Utah – Currently on hold as it has run out of money but with the Legislature possibly providing additional funding.
Upcoming online webinars/meetings and events of interest:
8/18: ‘Utah Leads Together Webinar: What’s on the Horizon for Utah’s Economy?’ – 2:00 – 300 pm. Natalie Gochnour, executive director of the Kem C. Gardner Policy Institute and chief economist of the Salt Lake Chamber, will provide an in-depth look at Utah's economy. Register at: https://us02web.zoom.us/webinar/register/WN_WRPDShzcQuiExR8eoHEOfg
8/20: Annual ChamberWest Golf Classic - Stonebridge Golf Club. This year will feature a tee time tournament as we respect course and city regulations. We are still accepting raffle items if you have something valued at $25 or higher that you would like to contribute. Please reach out to Connie at 801-977-8755 or at firstname.lastname@example.org.
8/27: ‘An Update From Washington D.C. with Representative Ben McAdams’ – Zoom – 12:00 noon. Event is being offered on a complimentary basis but registration is required. Register at: https://us02web.zoom.us/meeting/register/tZMkce2tpjwvHtRmFdjhQNxhjsXtYnFerVoX.
Please feel free to reach out if you have any questions or if we can be of service. Be positive, find and embrace the good, and stay safe. I hope you have a very successful week! Thanks much!
Barbara S. Riddle, CMP