Another week, another step in the right direction with our efforts to keep the economy moving forward as the region continues to stay under COVID19 hospitalization and infection rate thresholds established by New York State.
Just because businesses are opening and returning to some semblance of normalcy, there are still plenty of opportunities to secure grants and low interest loans through various local, state and federal government programs.
The Payroll Protection Program is open until August 8 so businesses and other organizations seeking to take advantage of an extremely low interest loan that eventually can be forgiven as a grant should move quickly to apply. At the same time, the Economic Injury Disaster Loan (EIDL) program has run out of funds. There have been a lot of reports about a new round of funding for the PPP as part of the next federal stimulus package, but there still remains a lot of uncertainty whether Congress will agree on such a package.
With the PPP set to expire, there is still $100 million available in the New York Forward Loan Fund. To date though, only 19 loans totaling $602,103 have been approved. The loans were targeted at businesses that did not receive Paycheck Protection Program or other similar federal funding. Unlike PPP where the loan can become a grant, funding through this program is a loan and it has to be paid back.
Congressman Reed’s office continues to provide us with information about various federal grant opportunities. Among them include:
A grant through the Law Enforcement Training & Technical Assistance Response Center is being administered by the Department of Justice, Bureau of Justice Assistance.
The Department of Veterans Affairs, VA National Cemetery Administration has issued a grant for the purpose of establishing, expanding or improving Veterans cemeteries.
The Corporation for National and Community Service has issued a grant that is intended to engage people age 55 and over in a diverse range of volunteer activities that serve communities.
The Department of Agriculture, DM-Office of Advocacy and Outreach is administering a grant for Assistance for Socially Disadvantaged Farmers and Ranchers and Veteran Farmers and Ranchers.
The Department of Agriculture, Business and Cooperative Programs Socially Disadvantaged Groups Grant
program has been created to provide technical assistance to Socially Disadvantaged Groups in rural areas.
The Department of Agriculture, Business and Cooperative Programs Rural Cooperative Development Grant is designed to improve the economic condition of rural areas by assisting individuals or entities in the startup, expansion or operational improvement of rural cooperatives and other business entities.
The Department of Housing and Urban Development is administering a Choice Neighborhoods Planning Grants NOFA. This grant supports the development of comprehensive neighborhood revitalization plans which focus on directing resources to address three core goals: Housing, People and Neighborhood.
National Endowment for the Humanities Media Projects Program. The purpose of this program is to support collaboration between media producers and scholars to develop humanities content and to prepare documentary film, television, radio, and podcast projects that engage public audiences with humanities ideas in creative and appealing ways.
New York State recently issued a news release announcing solicitations for renewable energy projects, including offshore wind. The latter is very controversial here in Western New York as various communities along Lake Erie are adamantly opposed to offshore wind turbines. In fact, the Dunkirk City Council recently adopted a resolution opposing the siting of wind turbines in Lake Erie.
Finally, the Small Business Administration also is offering free webinars on various topics over the next couple of weeks.
On Thursday July 30 at 11 a.m. there is a program about Marketing your Business on Facebook during COVID-19. On Tuesday, August 4 at 1 pm there is a webinar on How to Use YouTube to Grow your Business during a
Pandemic.
On Thursday, August 6 at 10 am the SBA will host a webinar on Small Business Financing.
The webinar series closes out on Wednesday, August 12 at 10 am with a session on Women-Owned Small Business Program Changes.
We sincerely hope this information and list of resources being provided to us by economic development partners throughout the region are helpful to your business. We are always here for you for any guidance or assistance.
Remember to stay positive, stay healthy and stay safe!
~ Corey
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