by David Snedeker, Northeastern Vermont Development Association As you have likely heard there will be funding for local governments in the American Rescue Plan Act passed by Congress and signed into law. Your can find the bill here: American Rescue Plan Act . Title IX, Part 8, Subtitle M, Section 9901, Sections 602 and 603 are the most relevant Here, but there are a number of community services that are supported throughout the bill that may not be municipal in nature, but which will support community needs.
The exact amounts that will be available, the eligible uses, and the means of distribution of funds are not clear at this point, but it does appear that the funding will have a 3-year lifespan (i.e., expiration in 2024.) As guidelines are developed at the federal and state levels, and as we learn more, we'll pass along information to you as quickly as possible.
What the American Rescue Plan Means for Vermonters
Senator Bernie Sanders offered a few statistics to illustrate real benefits for Vermonters resulting from the pandemic relief package: American Rescue Plan Act [email protected]:
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428,000 adults and 145,000 children will be receiving direct payments averaging $2,230 per household. 89% of Vermont households will be receiving a direct payment.
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The federal bill increases the child tax credit from $2,000 to $3,000 and to $3,600 for families with children under the age of six. This will help over 143,000 children in Vermont.
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$1.35 billion in COVID-relief will go to the state of Vermont and local governments.
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$152 million in rent and utility relief will go to Vermonters who owe back rent.
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$50 million in mortgage assistance will go to homeowners.
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An additional $27 million will be provided to the state for vaccine distribution.
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Vermont will receive a substantial increase in funding for summer school and after-school programs, community health centers, mass transit and many other vital programs.
Vaccinations in the NEK
Read the latest information on Covid-19 Vaccines in VT - who can get the vaccine now and who will be eligible next. The webpage is updated regularly and the COVID-19 Dashboard is updated daily. More sites Make an appointment to get the Vaccine.
PPP Updates: The American Rescue Plan will allocate $7.25 billion for PPP including expanded eligibility to additional nonprofits and digital news services.
Paycheck Protection Program The PPP offers borrowers two applications: First Draw for new borrowers; Second Draw for any business that received a PPP in 2020. The Program continues to prioritize Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses (through March 31, 2021). Community lending Institutions include Credit Unions, Farm Credit System Institutions, VEDA, and Insured Depository Institutions. If you want to apply for a First Draw PPP and your local lending institution is not offering these loans, call the Vermont SBA office at (802) 828-4422. For more information visit the SBA website for guidance.
PPP Forgiveness Webinars
SBA's Vermont District Office continues to conduct weekly PPP Forgiveness Webinars. Access information is provided below - join on your computer or mobile app. Need help? Susan Mazza, Deputy District Director [email protected]
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Tuesdays 11:30 am-1:00 pm Click here to join meeting Open TEAMS app / or Call in (audio only) 1-202-765-1264 Phone Conference ID 986 011 495#
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Wednesdays 9:00 - 10:30 am Click here to join meeting Open TEAMS app / or Call in (audio only) 1-202-765-1264 Phone Conference ID 984 055 02#
EIDL Update: The American Rescue Plan will allocate $15 billion additional funds with loans prioritized for hardest hit businesses with fewer than 10 employees.
The deadline to apply for Economic Injury Disaster Loans (EIDL) for working capital to small businesses, sole proprietors, independent contractors and non-profits from a wide array of business sectors has been extended to December 31, 2021. SBA Disaster Assistance - EIDL
New UVM Report: COVID-19 Impacts on Vermont Farms & Food Businesses
The newly published report COVID-19 Impacts on Vermont Farms and Food Businesses: Picots, Needs and Opportunities for the Future is available to read Here
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Resource Websites VT Emergency Management (VEM) Connect to Vermont Public Safety resources and stay up-to-date on COVID-19 emergency response efforts: VEM Bruce Melendy is NVDA's Emergency Management Specialist and Regional Emergency Management Coordinator [email protected] VT Department of Labor (DOL) The DOL website contains important information for employees, employers, job openings, workforce development and training opportunities. http://Labor.Vermont.gov. VDOL is available to assist businesses with virtual job fairs. For more information contact Kinsley Sicard at [email protected]. VT Agency of Commerce & Community Development (ACCD) Visit the website for Recovery Resources and information for businesses, communities, and individuals Here. VT Manufacturing Extension Center Vermont's go-to resource for manufacturing has a COVID-19 Resource webpage www.vmec.org. USDA Rural Development Visit rd.usda.gov/coronavirus for COVID-19 Resources for Rural Communities. Local Resources NVDA (www.nvda.net); NCIC (www.ncic.org); and the NEK Collaborative (www.nekcollaborative.org) All distribute up-to-date information on business and recovery resources and opportunities available in the region. Visit the websites and reach out by phone, email or Zoom. |
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Business Webinars & Community Announcements Weekly Webinar Vermont Businesses The VT Department of Health and the Agency of Commerce & Community Development hold a weekly webinar on Wednesdays from 3:00-4:00 pm, focused on health and pandemic updates for the business community. Participants are invited to submit questions ahead of time for officials to address. Businesses joining the webinar by phone must enter their questions using this Weblink as only those participating via the Microsoft Teams platform will be able to ask real-time questions. If participants wish to submit anonymous questions they can do so on the same link questionnaire. Call-In Information: +1 802-828-7667 / Conference ID: 477 481 46# For more information on upcoming webinars visit the ACCD website which also offers recordings of previous webinars in the series. ACCD Dartmouth-Hitchcock Webinar Series for Employers & Leaders "Science & Practices to Keep People Safe and Businesses Productive as Covid-19 Continues" is the title of the 12-week series to be held every other Wednesday from 12:00 pm - 1:00 pm. Although the sessions started on January 27th, employers and organizational leaders can join any time. The webinar series will end June 30th. Visit the DH ECHO website for the session titles and to register: https://bit.ly/3iP2tLO. New England Workforce Network (NEWN) Virtual Conference Fast Forward: Innovative Workforce Development in Changing Times, May 7, 2021 The conference is a collaborative effort with workforce professionals from all over New England. The theme this year reflects the turbulent time and the value of working together to plan effectively and act in concert with stakeholders in workforce areas. Find out more about presentations and breakout sessions. Early registrations will receive a special gift. NEWN Conference Recovery Roadmap for Business Owners - VtSBDC VtSBDC understands the challenging decisions business owners need to consider as they determine how and when to reopen. Flowcharts and resources have been designed to help navigate the process. Follow a step-by-step guide to reflect the current state of your business and create a plan for recovery, reinvention and reopening: Recovery Roadmap VT Small Business Development Center Experienced business advisors are available by email, phone or video conferencing. Do you need help constructing financial statements or application forms for disaster relief funding? VtSBDC will help you curate, decipher and disseminate information into manageable practical steps tailored specifically for your business - all at No cost. Contact: Ross Hart, VtSBDC Area Business Advisor [email protected] (802) 535-4240 (cell) or Heidi Krantz [email protected]. |
Funding Options
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Recovery Grant for the Arts The Shuttered Venue Operators (SVO) grant program includes $15 billion in grants to shuttered venues to be administered by the SBA's Office of Disaster Assistance. SVO Grant The program has not yet opened for applications, but the website has important information about eligibility and the application process.
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Northern Forest Center Grants for Outdoor Recreation Infrastructure Funding for the Northern Forest Destination Development Initiative provides grants for outdoor recreation infrastructure development that builds destination appeal and related economic opportunity. $200,000 is available provided by the Northern Border Regional Commission. An additional $100,000 is available for projects in the NEK through separate NBRC funding to NVDA. Applicants can apply to both grant opportunities through one application. Visit the website for complete information: Outdoor Recreation Infrastructure.
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St. Johnsbury Rental Housing Improvement Grant The Town of St. Johnsbury is accepting applications for grant funding for improvements to rental housing units. Landlords are encouraged to invest in Universal Design modifications to St Johnsbury rental housing property that will result in a more livable, marketable environment for everyone. Applications for the competitive grant program are due April 30th. Projects must meet specific criteria and require a 1:1 cash match. For more information or to download an application, visit www.stjvt.com or call (802) 748-3926 ext. 5.
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VT Farm Fund (VFF) Loan Programs Straightforward low interest loans for Covid-related needs or for regular Business Builder loans. The VFF offers no-hassle, friendly-term loans to local farmers and food producers for capital improvements, infrastructure projects, or business growth for food related businesses. Find out more www.vtfarmfund.org Questions? Contact Kate Stephenson (802) 560-3099.
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Northern VT Recovery Loan Fund (NVRLF) This revolving loan program, serving Northern Vermont businesses and organizations negatively impacted by COVID-19, is designed to support business owners from Caledonia, Essex, Orleans, Franklin, Grand Isle, and Lamoille Counties. The fund provides flexible terms and low-to-no-cost debt financing, along with business coaching services. Loans are available to businesses across multiple sectors including manufacturing, tourism, agriculture, forestry & wood products, education & early care, nonprofits, and other drivers of rural economic development. For more information on NVRLF and other Vermont Community Loan Fund lending programs, visit the website Here.
Source: St. Johnsbury. 3.15.2021. Northeastern Vermont Development Association www.nvda.net