Kathy Henderson: More help is on the way
If you own a business of any kind, you have been impacted in one way or another by the pandemic. If you are disheartened because you think there are no more programs available, then I am here to say courage Camille, there is still help out there for you!
Last week Gov. Tom Wolf announced a desperately needed grant program for the hospitality industry. In partnership with the Carbon County Commissioners, CCEDC will be the administrators of this grant. The application process will be announced soon. In the meantime, here is a list of the guidelines provided by the state on what businesses qualify and what you will need to provide when the application process goes live.
A business is eligible if:
• It has a North American Industry Classification System designation within the accommodation subsector (721) or Food Services and Drinking Places subsector (722) and where accommodations, food or drink is served to or provided for the public, with or without charge.
• It has fewer than 300 full-time equivalent employees.
• It has a maximum tangible net worth of not more than $15 million.
• It was in operation on Feb. 15, 2020, and remains in operation and does not intend to permanently cease operations within one year of the date of application.
• COVID-19 has had an adverse economic impact on the eligible applicant which makes the grant request necessary to support the ongoing operations of the eligible applicant.
Priority will be given to applicants who:
• Have not received a loan or grant issued under the authority of the commonwealth or the commonwealth’s political subdivisions or by the federal government;
• Were subject to closure by the governor’s disaster declaration; or
• Can demonstrate one of the following:
• A reduction in gross receipts of 50 percent or more for the period beginning after March 31, 2020, and ending before Dec. 31, 2020, in comparison to the period beginning after March 31, 2019, and ending before Dec. 31, 2019.
• If the eligible applicant was not in operation during the entire comparison period, but was in operation on Feb. 15, 2020, a monthly average reduction in gross receipts of 50 percent or more for the period beginning after March 31, 2020, and ending before Dec. 31, 2020, in comparison to the period beginning after Jan. 1, 2020, and ending before April 1, 2020.
In addition, the SBA still has programs available.
As always, if you have any questions, or need some help deciphering these programs, CCEDC is here to help! Feel free to contact us at email@example.com or 610-379-5000.