MONDAY, MARCH 30, 2020 | IN THIS ISSUE

• Small business relief on hold as details are worked out
• New website supports small business efforts to stay open
• Experts: Financial clarity key for disrupted businesses
• Latest coronavirus updates, 3/30/20
• Dakota Access pipeline volume to be doubled
• Corridor events, KCRG-TV9 headlines and First Alert Forecast
Small businesses relief on hold as details are worked out
President Donald Trump signed the $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act into law Friday evening, casting a lifeline to businesses hungry for relief, from major airlines to small mom-and-pop operators.

But despite Treasury Secretary Steven Mnuchin’s vow that about $350 billion in Small Business Administration loans for companies with fewer than 500 employees would go out the door at “lightning speed” – beginning as early as this Friday – the SBA is now saying small businesses might have to wait a bit longer than that.

In guidance sent out today by the SBA’s Iowa District Office, the agency explains that SBA CARES loans will not be available until program details are hammered out, a process it was reluctant to put on a timeline.

“SBA and the Department of Treasury are still in the process of implementing all the new loan programs associated with the CARES Act, including the Payroll Protection Program,” the Iowa District SBA office said in a release, adding that new policies, procedures and guidelines must be in place before lenders can begin making loans.

Though it is working as quickly as it can, the agency said, “We do not have a timeline for when these guidelines will be issued, but until we have those full guidelines, we’re not able to answer any questions about the new programs at this time.”

The SBA loans, known as the Paycheck Protection Program, will provide 100% federally guaranteed loans to small businesses that may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.

U.S. Sen. Joni Ernst, joining Iowa Gov. Kim Reynolds' Sunday news conference, said she did not have an estimate on how quickly funding would be sent out, adding she hoped it would be “soon.” In addition to funding for business relief, the massive stimulus includes funding for individuals and state efforts to respond to the outbreak.

Ms. Ernst said she expects there will likely be a discussion of more relief packages as the situation develops, a sentiment Mr. Trump endorsed Sunday.

“I'm prepared to do whatever is necessary to save lives and bring our economy back to where it was before,” the president said in a press conference.

While small businesses wait for CARES loan details, the SBA is encouraging small businesses and most private nonprofits to apply for SBA’s Economic Injury Disaster Loans. Loans are available at 3.75% for small businesses and 2.75% for nonprofits over 30 years.

The online Disaster Loan Application Portal is currently down, officials said, though applicants can still go to www.sba.gov/disaster and click on “Apply for Assistance.” They will be taken to a page where they can download and fill out the appropriate forms, with options to either upload the forms to SBA electronically or mail them in.

If a customer already started an application in the online portal, but unable to complete it before it went down, they can submit a completed application through the current process at www.sba.gov/disaster , making note of their application number, if available.
New website supports small business efforts to stay open
The rapid spread of the coronavirus is forcing Iowa businesses to close or get creative in order to conduct business , but getting the word out about who's open and how to get in touch hasn’t been easy.

News partner KCRG TV-9 reports on new website, Loveyourlocaliowa.com , launching today to give businesses a place to show people what they are doing to stay open while also giving customers a chance to learn how to get in touch with them all in one place.

“There's a lot of financial help out for businesses, but when it comes in, you never know,” said Monica Vernon, executive director of the Czech Village New Bohemia Main Street District, of the new online hub. “I used to run a small business and I know that if you can just get a little bit, and if you can just keep selling, if you can just keep things going at a low level, at least when this is all over they can come roaring back.”

“Reinventing ourselves as a delivery-only option hasn’t been easy let alone getting a loudspeaker and getting the message out,” said Adam Hadjis, owner of Gianna’s Italian Beef in downtown Cedar Rapids, one of many businesses struggling to adapt to unprecedented times.

Mr. Hadjis is still serving up his staple Italian beef, but he’s delivering them to people’s front doors. That’s a service he and his employees are new to, and telling people about the new delivery service hasn’t been easy for Gianna's or other restaurants.

“A lot of people haven’t taken the time to update Google or Facebook because this is something we aren’t used to dealing with,” he said.

Read the full story and watch the video here .
Experts: Financial clarity key for disrupted businesses
Businesses struggling with lost sales or closings due to COVID-19 should update their financial statements frequently and keep records like the previous years’ tax returns close at hand, according to experts at two business webinars attended by the CBJ last week.

“The SBA and everybody’s going to ask for updated financials,” Chase Stafford, vice president of commercial banking at MidWestOne Bank, advised during a web conference for businesses hosted by the Iowa City Downtown District. “Know the financial health of your business, your inventory position, your cash positions.”

“If you don’t know the score of the game, how do you know what move you’re going to do next?” he added.

Mr. Stafford also advised restaurant businesses that are staying open on a takeout-only basis to perform a break-even analysis to ensure that it’s actually not costing them money.

With more business relief programs expected to be introduced, it’s vital to keep financial data up to date and ready for use in applications, Scott Swenson remarked during a Friday webinar by the Marion Economic Development Corp. to discuss the SBA’s opening of its Economic Injury Disaster Loan program.

“Keep your financial information as up to date as possible,” said Mr. Swenson, director of the Kirkwood Small Business Development Center in Hiawatha. “You’re going to be using the same things over and over again.”

Mr. Swenson even suggested creating a special expense category in the accounts of the business for disaster-related expenses. He noted accurate and timely financials will not only help businesses secure disaster assistance, but also help them share their story with political leaders who need to understand what’s going on to make sound decisions.

Looking for more advice for adapting your business for the uncertain future ahead? Join the CBJ and CEC tomorrow at noon for a webinar on tele-business best practices and new tools, part of the CBJ’s new Corridor Rising 2.0 business support series. Find more information and register for this free webinar here .
Latest coronavirus updates, 3/30/20
Ed note: The CBJ is working hard to keep you up to date on the latest coronavirus news. We're publishing a short roundup each day of notable cancellations, closures, changes and more. Send your tips and releases to  news@corridorbusiness.com  to help us stay up to date. See our ongoing thread with collected updates  here .

The Iowa Department of Public Health (IDPH) has reported 424 confirmed cases of COVID-19 around the state, including 174 in the Corridor. Six have died. As of this morning, there have been 6,162 negative COVID-19 tests in the state. Updated information from the IDPH can be found here .

Iowa Workforce Development has implemented updates to its leave policy for filing unemployment insurance benefits following the enactment of the CARES Act. Effective immediately, employees who are or will be laid off, or are unable to work for reasons related to COVID-19, will no longer be required to use all paid leave prior to being eligible for unemployment insurance benefits. This change is not retroactive and claims will not be backdated prior to the week of March 29, 2020, for new or existing claims by individuals who work for employers.

The policy requiring claimants to use all available paid leave prior to filing for unemployment benefits was necessary to help sustain the Iowa Unemployment Trust Fund, which is funded entirely by employers doing business in Iowa and is the source of all benefit payments to claimants. The enactment of the CARES Act has provided a significant source of additional funding for claimants, and this policy change reflects the evolving situation. For updates about COVID-19-related information, visit www.IowaWorkforceDevelopment.gov.

The Iowa Economic Development Authority reminds the state’s small businesses that the Iowa Small Business Relief Program is accepting applications until March 31 at noon. The program is open to businesses with 2-25 employees that have been economically impacted by the COVID-19 pandemic, and may provide grants and tax deferrals. Due to the high volume of applications being received, the IEDA is only accepting online applications at this time. You can find the application here .

Mercy Medical Center in Cedar Rapids has established a dedicated clinic to care for patients with respiratory illnesses, including COVID-19. Primary care and urgent care patients needing appointments or testing for respiratory illness will be directed by their medical provider to the newly established respiratory illness-only site at MercyCare Hiawatha Urgent Care. The hours of the clinic are 7:30 a.m.-8 p.m. Monday through Friday, and 8 a.m.-3 p.m. Saturday and Sunday. The clinic is available for patients with a referral only and not walk-in appointments.

Iowa City Transit is making temporary changes to its weekday service, including ending weekday service at 8 p.m. and providing hourly service on most routes using Saturday routes and schedules. Three “weekday” routes will also be added during peak times. Visit www.icgov.org/transit or call (319) 356-5151 for the most updated information.

The Eastern Iowa Diaper Bank (EIDB) is adjusting hours for access to the bank, which provides free diapers and wipes, to Mondays from 1-5 p.m. and Thursdays from 2:30-5:30 p.m. EIDB, located at 420 Sixth St. SE, #180, in Cedar Rapids, is operating on a drive-thru model. Community members are asked to pull into the alley from Sixth Street, remain in their car, open their trunk and a staff member will assist them. If walking, please walk to the alley to be assisted from a safe, six-foot distance.

The J ohnson County Board of Supervisors asks businesses not affected by Gov. Kim Reynolds’ declaration closing many retail businesses to consider reducing the number of employees physically in the workplace. B ased on recommendations from public health agencies, the board is asking businesses to: a llow employees who can telework from home to do so; implement staggered shifts and/or rotation of in-office staff; implement flexible sick leave and supportive policies and practices; assess essential functions and the reliance the community has on services or products; establish policies and practices for social distancing; perform additional environmental cleaning and disinfection; u se videoconferencing when possible for work-related meetings and gatherings; and consider canceling, adjusting, or postponing work-related meetings or gatherings of more than 10 people that can only occur in-person.

Kirkwood Community College has announced all lecture format classes will continue online for the rest of the semester. All face-to-face classes that are labs and hands-on courses will remain suspended, with more information to come.

The city of North Liberty has closed outdoor play structures to encourage social distancing and slow the spread of COVID-19. Parks, trails and other outdoor public facilities remain open, but the public should continue to practice social distancing and not congregate.
Dakota Access pipeline volume to be doubled
State regulators cleared the way Friday for the operators of the Dakota Access pipeline to double the volume of oil it pumps across Iowa.

In issuing the order Friday, the Iowa Utilities Board (IUB) gave owners of the controversial pipeline approval to increase flows to 1.1 million barrels per day, up from 550,000.

The IUB found that the increase in oil will not significantly increase the risk of a spill, or the amount of oil that would be spilled if an incident occurred. The IUB also found the changes to the pipeline do not change the location or affect the operation of the pipeline other than the upgrading of the pump station and increased flow of oil.

The order also grants the pipeline operator a waiver of a hearing requirement, finding that proposed changes to the pipeline will not require any new interests in property and that the only other changes will occur at the Cambridge Pump Station, which is located on land owned by Dakota Access about 15 miles southeast of Ames.

Development of the 1,100-mile pipeline occurred in 2016 and 2017, after strong landowner opposition to crossing private property. Protests were held against the project due to concerns about the potential for oil discharges at its crossing of the Missouri River in northwest Iowa upstream from the Standing Rock Sioux Reservation.

The order requires Dakota Access to file updates with the IUB regarding the approval process in other states, any damage claims by landowners, and any safety violations found by company or federal inspections. The IUB also requires Dakota Access to inform local, county, and state agencies that might have to respond to an incident created by the increase in oil flow.
Connect with the CBJ

The CBJ’s mission of informing and connecting the Corridor’s business community is more important than ever. Our news operations will continue researching and reporting on the impacts of the COVID-19 pandemic through our multiple distribution channels. Here’s how you can connect with us today and moving forward:

  • You can reach our newsroom directly with leads, updates, cancellations, etc. at news@corridorbusiness.com.
  • Our comprehensive, deep-dive content continues in our weekly CBJ. If you are not a digital subscriber, you can sign up here.
  • Our daily news coverage solution is spread throughout the week with our free e-newsletters. If you have not already signed up, you can do so here.
  • Updated coronavirus information will also be published on our website, corridorbusiness.com/latest-coronavirus-updates, and through our Facebook, Twitter and LinkedIn channels.
  • All of our staff members remain available to assist you. You can find our full contact information at www.corridorbusiness.com/cbj-contact.

Remember: Subscribers can access the digital CBJ anytime and anywhere. Don't remember your password? Please email  jean@corridorbusiness.com for a password reset.

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Thank you for your continued support of the Corridor Business Journal.
Short Term Event Planner

Ed. note: We are working hard to update our calendar with virtual and web-based events pertaining to Corridor businesses. If your organization is hosting either of these, please contact us at  news@corridorbusiness.com  so we can update our calendar.
 
March 30
Business Strategy in the Heart of COVID-19, by BerganKDV, noon, online. Business guidance will be offered following changes brought on by legislation in the midst of the COVID-19 outbreak. Free. To register, visit bit.ly/33Vootf .
 
Planning During Disruption, by UNI Center for Business Growth and Innovation, 2 p.m., online. Jordan Vernoy, from See What I Mean, and Amy Dutton, from UNI’s Small Business Development Center, will discuss tools and methods needed to plan for the future when your current operations are interrupted. Free. Join the webinar here.

March 31
Construction Industry/Expert Panel Q&A, by BerganKDV, 9:30-10:30 a.m., online. Steve Tenney, construction industry consultant, will present an overview and Q&A on how the recent changes and legislation are impacting your industry. To register, visit bit.ly/2WTL8s7 .
 
The Grief Process at Work, by UNI Center for Business Growth and Innovation, 10 a.m., online. Celina Peerman, from The Peerman Group, and Amy Dutton, from UNI’s Small Business Development Center, will talk about processing grief at work and how to cope with the current crisis. Free. Join the webinar here .
 
Government Industry/Expert Panel Q&A, by BerganKDV, 11:30 a.m.-12:30 p.m., online. Join Jodi Woodward, government industry leader, for an overview and Q&A on how the recent changes and legislation are impacting your industry. To register, visit bit.ly/33XU7Kn .
 
Tele-Business Best Practices & New Tools, by Corridor Business Journal, noon-1 p.m., online. Facilitated by Randy Montelius, vice president of technology at CEC, learn how to help your organization maneuver the new world of "tele-business." Free. To register, visit https://bit.ly/2wN0vId .
 
Dental & Healthcare Industry/Expert Panel Q&A, by BerganKDV, 1:30-2:30 p.m., online. Join Jamie Katz, shareholder and professional practices expert, for an overview and Q&A on how the recent changes and legislation are impacting your industry. To register, visit bit.ly/2WQjOuV .
 
Distress Loans: Lessons from the 2008 floods, by UNI Center for Business Growth and Innovation, 2 p.m., online. Join SBDC Regional Directors Scott Swenson and Amy Dutton as they look back at the lessons learned from disasters lending from the 2008 floods. Free. Join the webinar here .
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Headlines from KCRG-TV9
These news items are provided by KCRG-TV9  

PepsiCo Foods confirms multiple employees have been infected with COVID-19 at the Quaker Oats plant in Cedar Rapids. The company did not give an exact number but said the employees are quarantined and getting medical treatment. "The safety of our products, employees and communities remains our top priority. We have taken all necessary steps to identify and notify individuals who worked closely with the employees and have asked them to self-quarantine for a period of 14 days," the company said. "As a precautionary measure, are conducting a deep cleaning of the facility and equipment based on CDC guidelines and using EPA-approved registered products for COVID-19. Currently, there is no evidence of food or food packaging being associated with the transmission of COVID-19."

Amanda Welch had big birthday plans for her twin daughters, Ashton and Stella, including a painting party. Those plans were cancelled because of concerns over the COVID-19 virus. Family and friends in the Tiffin community decided to celebrate in a different way with a parade in front of the Welch family's house. More than 30 cars lined up, including the Tiffin Fire Department. Everyone honked their horns and waved to Ashton and Stella, wishing them a happy birthday. Some handed out presents from their cars and threw candy onto the driveway. "We have amazing friends who have been with us on this journey of them being premature babies, but I never would've expected the fire trucks and the food trucks that we don't know," said Amanda Welch. Watch the video here .

These news items are provided by KCRG-TV9
Your KCRG-TV9 First Alert Forecast
It will be mostly sunny and dry start to the week, with highs in the upper 50s. Temperatures will stay in the mid to upper 50s through the week, with the first chance of rain Thursday night.