Please, please, please support our local businesses!! We all need to support each other through these times! These upcoming weeks will be challenging for our businesses. Remember… all those local businesses who have supported your ball teams, events… PLEASE support them NOW so they are able to keep their doors open. The Chamber is gathering menus of our member restaurants who will be having carry out and/or delivery services. As we get them they will be posted on this home page under “Don’t Miss”. Please patronize these wonderful businesses.
East Jordan – Downtown Development Authority
March 19, 2020
COVID-19’s IMPACTS ON SMALL BUSINESSES
Small Businesses – What’s available and how you can utilize these resources!
During these challenging times, it is important for small business owners to know what resources are available to them and their employees. The leadership within the City of East Jordan, the Chamber of Commerce, the Downtown Development Authority, and the East Jordan Public Schools are eager to keep our community up-to-date on what the state of the community is and how we are all impacted by the recent events with COVID-19. As business owners, it is best to inform ourselves of the status of the pandemic and what assistance is or is not available at this time. This information has been compiled in an effort to organize the updates that are specifically pertinent to businesses in our town.
March 17 – “Governor Gretchen Whitmer today formally requested the U.S. Small Business Administration to issue an Economic Injury Disaster declaration for the state.” By formalizing this request, this ensures as much funding as possible will become available to assist small businesses across the State of Michigan.
March 18 – Governor Whitmer submitted a request for all regions in the entire State of Michigan to be eligible for Economic Injury Disaster Loans.
March 19 – The Governor’s request was approved.
SMALL BUSINESS LOANS
The Michigan Small Business Development Center (SBDC) is a sector of the U.S. Small Business Administration (SBA). The SBDC is a great resource to utilize for business counseling in general, but specifically at these stressful times. Any business owner can sign up for their services and an administrative staff member will forward the inquiry to the appropriate advisor based on the industry you are in. You will not only receive their counseling at NO COST but will automatically be signed up for updates from them and the SBA.
Legislation has been passed awarding $1B to the SBA for Economic Injury Disaster Loans (aka. Disaster Loans or Small Business Disaster Loans) for temporary loss of revenue to small businesses. To be eligible, each governor must submit a request for the various regions within their state. On March 18, Governor Whitmer submitted a request for the entire State of Michigan. With the approval of this request on March 19, Michigan small businesses may now apply for a loan.
The Michigan Economic Development Corporation (MEDC) is offering $10M in grants (<50 employees) and loans (<100 employees). Additional information is included in the link below.
- SBDC Business Consulting: https://sbdcmichigan.org/request-for-business-counseling/
- Apply for a Disaster Loan: https://disasterloan.sba.gov/ela/
- MEDC Grants and Loans: https://www.michiganbusiness.org/covid19/
TAX PAYMENT WAIVER
On Monday, March 17, the Department of Treasury announced they will postpone Sales, Use, and Withholding tax payments due on March 20 until April 20. This will allow an additional month for businesses to organize their funds prior to paying these taxes. Before relying on this waiver, ensure your payment schedule is eligible by reading the information in the link included.
- Tax Payment Waiver Information: https://www.michigan.gov/documents/treasury/SUW_Penalty_and_Interest_Waiver_Notice_684145_7.pdf
UNEMPLOYMENT / LAYOFFS/ WORKSHARE/ TEMPORARY LEAVE
As some businesses are able to keep their employees, many may have to make difficult decisions at this time pertaining to their staff. Unemployment benefits have been expanded to employees that fall into certain categories that may otherwise not be eligible for these benefits.
Because of the numerous pieces of legislation that have been proposed, there are many options for employers who cannot afford to keep all of their staff – however not all the details are known at this time. The MEDC has offered a breakdown of the different options to assist employers in making the right decisions for themselves and their employees.
- Unemployment Information: https://www.michigan.gov/whitmer/0,9309,7-387-90499-521770–,00.html
- MEDC Labor Options: https://emailcontact.com/nl/nl-output.php?nl_id=380822&bus_id=2595&plain=0
The SBDC is offering free webinars for business topics related to COVID-19. There is a library of webinars available, as well as live webinars that you can sign up for. This link also offers answers to questions they have received from small businesses that may be helpful in your quest for additional information.
- SBDC Webinars: https://sbdcmichigan.org/small-business-covid19/
For information specific to business operations, community assistance, closures, etc. sign up for the East Jordan Area Chamber of Commerce newsletter.
For information on East Jordan Public Schools, dates of school closure, and meals provided by EJ Café, visit their website or follow their Facebook page.
For COVID-19 information, visit the Center of Disease Control. For COVID-19 information specific to the State of Michigan, a separate website is available.
- EJ Area Chamber of Commerce: https://ejchamber.org/covid-19/
- EJ Public Schools: https://www.ejps.org/our-district/district-news/
- Center for Disease Control: https://www.cdc.gov/coronavirus/2019-nCoV/index.html
- MI COVID-19 Information: https://www.michigan.gov/coronavirus
Thank you for doing your part to help our community during these challenging times. This is the time to band together, support one another, and do the best we can to stay strong for each other!
We will get through this.
For questions, please e-mail Taylor Malpass, DDA Coordinator, at firstname.lastname@example.org.