COVID-19 Update 15.0
San Juan County - Utah's Canyon Country
Monday, 30 March 2020
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This morning's webinar with
Senator Romney's
office can be viewed here:
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San Juan County is currently soliciting
Request for Interest (RFI) for hotels
willing to provide emergency isolation or quarantine services during the COVID-19 period. Letters of interest are due by March 31, 2020 by 4PM. Please click the button below to review the complete RFI.
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Below we have outlined local, state, and federal resources where funding is available. We recommend that businesses act quickly if they are interested.
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- Local Funding Options
- State of Utah Options
- Federal Options
- SBA Economic Injury Disaster Loans (EIDL)
- SBA Paycheck Protection Program (PPP)
- SBA Loan Advance
- USDA
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A
dditional resources
can be found by following:
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1 - Local Funding Options
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Emergency Loan Program
Applications: Open
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The purpose of this loan program is to provide financial relief to small businesses in Carbon, Emery, Grand, and San Juan counties that are likely to experience a decrease in business due to an unforeseen emergency. These funds will be made available through the Revolving Loan Fund (RLF) that has been established prior to this.
All funding available through this program will be distributed on a
first come, first served basis
. Applications should be submitted as soon as possible.
The program is intended to help businesses retain their employees and remain financially stable during a time of economic hardship. The loans provided by this program are intended to bridge the gaps for what may be a shortened financial hardship period.
Loan Program Guidelines
:
- Loan Maximum: $10,000
- Loan Minimum: $5,000
- Interest Rate: 4%
- Loan Term: 3 year Term with 3 Months Deferred Payments, 9 Months Interest Only Payments, 2 Years Amortized Payments
- Businesses Must be Able to Prove a Need for Emergency Funds
- Business must be current on all business taxes (ie: TRT, sales, payroll)
- Loan Funds May Only Be Used For:
- Working Capital
- Marketing
- Inventory
Repayment for loans received from
The Southeastern Utah Association of Local Governments (
SEUALG) Emergency Loan Program will be deferred for approximately 90 days following the expiration of any state or federally approved crisis.
Directions to Apply for the SEUALG Emergency Loan Program
:
- Fill out application
- Include items requested on application
- Sign application, there is a digital consent.
- Submit the completed application for review.
The Program Manager for the Revolving Loan Fund will be available to answer questions regarding the application process. Dawna Housekeeper can be reached at 435-613-0031 or
[email protected]
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2 - State of Utah Options
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GOED Bridge Loan (Phase 1)
Applications: Opens TOMORROW 3/31/20 (8AM) -
Closes Friday, 4/3/20 (noon)
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Tomorrow, Utah-based small businesses with 50 or fewer employees impacted by the COVID-19 pandemic may apply for a new bridge loan program offered by the Utah Governor’s Office of Economic Development (GOED).
The Utah Leads Together Small Business Bridge Loan program uses approximately $8 million in repurposed state economic development funds. Additionally, the Utah Department of Workforce Services has contributed $500,000 to the program.
Loan amounts range from $5,000 to $20,000 with 0% interest for up to a 60-month period. Loans cannot exceed three months of demonstrated operating expenses. Loan payments are deferred for 12 months, and GOED will use
at least 25% of the program funds to support rural Utah businesses.
There are guidelines, eligibility requirements and required information that must be submitted with applications.
The following are some highlights, but please refer to
utahgoed.info/loan
for complete details.
- Criteria Highlights
- Businesses must be established and licensed before January 1, 2020, and in good standing with the Utah Division of Corporations and Commercial Code (will be verified here).
- Applicants must have employees on their payroll for whom they have had payroll taxes withheld (i.e., W-2 employees).
- Applicants must provide six months pro-forma of estimated lost revenue or other documented loss evidence.
- Eligibility Highlights
- Businesses that have experienced severe economic impact due to the COVID-19 pandemic.
- Businesses that can demonstrate a multiplier impact on other industries.
- Businesses that play a key role within a strategic state supply chain.
- GOED will determine the eligibility of applicants. Applying is not a guarantee of funding.
- Requirement Highlights
- Financial statements: profit and loss, and balance sheet statements for the previous year, and most recent quarter or month.
- Last year’s business state of Utah tax returns (2019 or 2018).
- A copy of the business lease agreement or mortgage statement for the business location.
Utah small businesses can apply for the Utah Leads Together Small Business Bridge Loan starting on March 31, 2020, closing April 3, 2020.
This will be a 2-phase program, possibly 3-phase. Phase 2 information will be forthcoming.
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3 - Federal Options: SBA EIDL, SBA PPP, SBA Loan Advance, & USDA
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SBA Economic Injury Disaster Loans (EIDL)
Application: OPEN
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If you are considering to apply for SBA disaster relief funding we understanding the process can be somewhat daunting. We've linked SBA's 3-step application process as well as a loan assistance application guide (as a note, we continue to add helpful tips to this guide as local businesses are applying--if there is anything you would recommend we add please let us know).
ELIGIBLE ENTITIES:
- Applicants must meet the SBA requirements of a small business (500 employees or
- fewer)
- Businesses directly affected by COVID-19
- Businesses that offer services directly related to the businesses in the declaration
- Other businesses indirectly related the industry that are likely to be harmed by losses in their community (Example: Manufacturer of widgets may be eligible as well as the wholesaler and retailer of the product)
- Small non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture
INELIGIBLE ENTITIES:
- Religious Organizations
- Charitable Organizations
- Gambling Concerns (Ex: Concerns that derive more than 1/3 of their annual gross
- revenue from legal gambling activities)
- Casinos & Racetracks (Ex: Businesses whose purpose for being is gambling (e.g., casinos, racetracks, poker parlors, etc.) are not eligible for EIDL assistance regardless of 1/3 criteria above.
- Cannabis Industry
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SBA Paycheck Protection Program (PPP)
Application: NOT YET OPEN
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These are SBA loans applied for through approved SBA lenders. SBA will be releasing rules on this loan Friday (4/3/20). Our recommendation if you are interested in this loan is to contact your local SBA lender immediately--in San Juan County this includes Zions and Wells Fargo.
Likely lenders will have loan applications available on Monday.
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SBA Loan Advance
Application: Information coming.
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The advanced cash grant ($10K) is an emergency economic disaster relief grant – so, not a part of the PPP or EIDL loan program. It will be an SBA administered grant program for affected businesses.
To further clarify, businesses
need to request
the advanced cash payment through the SBA. We are still waiting on what this process will look like, and where it will occur.
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On Friday (3/13), the U.S. Department of Agriculture (USDA) announced a primary agricultural disaster designation for counties in Arizona. Under this disaster designation, producers in contiguous counties in Colorado, New Mexico, and Utah (San Juan County) also qualify for benefits.
Additional information on USDA’s disaster assistance program, including county lists and maps, can be found at
http://disaster.fsa.usda.gov
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Current San Juan County Updates
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Bluff businesses will be closed until May 10th
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Many of our local businesses are doing what they can to keep their doors open and services
available to our residents
.
Click here
for our director of county businesses and their temporary COVID-19 hours, adjusted operations, and offerings.
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Business Weekly Spotlight
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With many of our local businesses remaining open we will be running features on our Newsroom to inspire our community to buy local. For a full list visit our business directory:
http://bit.ly/33tdCKl
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Many of our local businesses have taken the time to get creative in their business models allowing them to stay open & make sales while still encouraging social distancing.
Sara Lee and
Packard Wholesale
have donated about 700 loaves of bread, bagels and buns. Volunteer pictured is
Cheryl Bowers
, photo by Toniee M. Lewis
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Help us find and share these features by tagging @sanjuanedvs and #SanJuanStrong
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Let's take a moment to recognize the positive moments in our community.
Chalk lettering for
#vandalettering
to spread hope during the pandemic. 😊 by Daniel Jolley
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Help us find and share these features by tagging @sanjuanedvs and #SJCMonumentalMoments
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For business and tourism industry updates please refer to:
We are aware of the concern many businesses have, particularly those impacted by the travel industry. This web page is intended to be a resource for businesses regarding changes in the travel industry as well as business relief funding options as they become available.
Please note, this web page is not intended to be a source for updates on COVID-19. For up to date information on COVID-19 please visit the state of Utah’s Coronavirus (COVID-19)
information hub
:
https://coronavirus.utah.gov/
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Please feel free to contact our office with any questions 435-587-3235 or 800-574-4386
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Cheers,
San Juan County EDVS
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