Federal Grant Lifts VT Live Venues
Vermont Business Magazine Fifty-Nine small businesses involved in the performing arts throughout 36 Vermont cities and towns have received more than $18.7 million in federal grants as of Aug. 3.
“We were thrilled to learn that we were among the many worthy venues in our home state of Vermont and across the nation who were awarded a Shuttered Venues Operators Grant. This infusion of funding will further stabilize our organization as we continue to navigate the pandemic and plan to resume in-person operations as soon as it is safe to do so for our audiences,” said Alissa Mello, Managing Director of Sandglass Theater in Putney. Sandglass Theater, which started in 1982 is a 60-seat theater specializing in puppetry.
The SVOG Program is overseen by the Small Business Administration and its purpose is to provide emergency grants to eligible live venues affected by COVID-19. More than $16.2 billion was appropriated for grants via the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act and the American Rescue Plan Act. Eligible applicants could qualify for grants equal to 45% of their gross earned revenue up to a maximum amount of $10 million for a single grant.
Direct Forgiveness Portal Training Webinar Aug 10
The SBA Vermont District Office is hosting a webinar from 11:30 a.m. to 1 p.m. Aug. 10 about the new Direct Forgiveness Portal for Paycheck Protection Program borrowers. The Direct Forgiveness Portal allows PPP borrowers whose loans are $150,000 or less through participating lenders to apply for forgiveness directly through the SBA.
Vermont participating lenders are Community National Bank, Vermont State Employees Credit Union, Bank of Bennington, National Bank of Middlebury, New England Federal Credit Union, Union Bank, Vermont Federal Credit Union, and Bar Harbor Bank.
Borrowers will be contacted by their lenders informing them to use the Direct Forgiveness Portal.
To access the webinar, click here. To access the webinar by phone, call 202-765-1264 and enter code 986 011 495#.
Borrowers who received their PPP loans from lenders outside of Vermont are welcome to join Tuesday's webinar.
To view upcoming webinars, visit www.sba.gov/vt.
For more information, email [email protected].
Three Reasons To Consider A 504 Loan
The 504 Loan Program provides long-term financing to small businesses for the purchase or improvement of land, buildings, and major equipment, to facilitate the creation or retention of jobs, and to support local economic development. Under the 504 Loan Program, loans are made in conjunction with private-sector lenders to small businesses by CDCs, which are certified and regulated by the SBA to promote economic development within their community.
As part of the CARES ACT, several changes have been made to the 504 Loan Program.
- All 504 loans approved from Feb. 1 to Sept. 30, 2021 borrowers will receive three months of payments, which includes principal and interest. (Capped at $9,000 per month)
- Most fees associated with the 504 Loan Program have been eliminated.
- 504 Loan Program rates are near all-time lows.
For more information, click here.
Intro To VT PTAC Aug 11
Join the Vermont Procurement and Technical Center for a webinar a 11 a.m. Aug 11 to learn how experienced procurement counselors can assist businesses to navigate the sometimes challenging processes of government contracting
VT PTAC is a government-funded program assisting Vermont businesses to pursue and perform government contracts with the Department of Defense, other federal agencies, state and local governments and with government prime contractors. VT PTAC provides a wide range of free services including individual counseling, proposal assistance, marketing opportunities, training and networking events.
To register, click here.
Steps To Start A Business Aug 17
The Center For Women and Enterprise Vermont is hosting a free Steps To Start A Business webinar at 3 p.m. Aug. 17. Learn to develop a business plan, select a business legal structure and obtain an employer identification number, licenses, permits and insurance.
To register, click here.
SBA Vermont District Office, Montpelier. www.sba.gov/vt