Be prepared, PPP fully opens on Tuesday

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Be prepared, PPP fully opens on Tuesday

Sun, 01/17/2021 - 12:07pm -- tim

PPP Update

As the U.S. Small Business Administration (SBA) opens the Paycheck Protection Program (PPP) application portal to lenders, ACCD is encouraging businesses to explore applying for the more than $284 billion has been allocated to this program nationally.

Friday, the portal was opened to lenders with $1 billion or less in assets for First and Second Draw applications. The portal will fully open on Tuesday, January 19th to all participating PPP lenders to submit First and Second Draw loan applications to the SBA.

Businesses can learn more learn more about First and Second Draw loans at the SBA website. A recording of a webinar ACCD and the SBA held earlier this week to discuss the program, eligibility, and application process is now available at the ACCD COVID-19 Recovery Resource Center.

If a business doesn’t have a trusted lender, the Vermont Economic Development Authority stands ready to assist those in need of help navigating the program specifics and applications.

BIPOC Business Webinar

The Brattleboro Development Credit Corporation’s Business Resiliency Webinar Series will host a webinar specifically for any self-identified BIPOC and minority business owners or managers on January 21st, from 2:15pm to 3:15pm. The webinar will focus on local and regional technical assistance resources to help access available relief grants, develop loan applications, and introduce participants to local lenders who may be managing COVID Relief funding (such as the PPP or EIDL loans) in their communities. Be sure to register ahead of time. Past webinar recordings are also now available to view.

Vermont Everyone Eats Relaunches

ACCD has allocated $1.6 million to Southeastern Vermont Community Action, the Everyone Eats Program Administrator, to relaunch the program. Though this allocation only funds three weeks of programming, partners across the state including the Scott Administration and the Legislature are working together to identify additional funding opportunities. In 2020, Everyone Eats funded over 530,000 meals, injecting $5.3 million into local restaurants and nearly $500,000 to Vermont farms and food producers.

Covid-19 Guidelines Research Study

Researchers at the University of Vermont are conducting a survey to study how Vermonters as well as out of state residents that recently traveled to the state are understanding and responding to Vermont’s Covid-19 guidelines. Complete the online survey and be entered to win one of ten $25 gift cards to a local Vermont business.

Forevergreen Virtual Concert Series

The Department of Tourism and Marketing’s five-part virtual concert series featuring local Vermont musicians, as well as regional and national acts who have an affinity for the state, comes to a close tomorrow, January 16th at 7:00pm with a concert featuring rising star and Vermonter Noah Kahan, Burlington surf rockers the High Breaks, and national artists The Avett Brothers.

Forevergreen: A Vermont Adventure in Music” has been streamed nearly 100,000 times by people all over the world and in addition to music, features interview segments with artists talking about how Vermont inspires them. Tune in live on Saturday night, or go back and watch previous episodes, all available on the VDTM YouTube channel.

Business Impact

ACCD wants to hear from all Vermont businesses impacted by the COVID-19 pandemic. Please use the ACCD Business Impact Form to help us continue to assess the full impact as we work toward additional recovery solutions.

Source: ACCD 1.15.2021