Below are resources that GFDA and our partners have put together. As we learn more, we will continue to share with our network.
Additional business resources regarding the COVID-19 crisis can be found on
our website
.
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PPP Update
The Small Business Administration will resume accepting PPP loan applications on Monday, April 27 at 8:30AM MDT from approved lenders on behalf of any eligible borrower.
All eligible borrowers who need these funds should work with an approved lender to apply as soon as possible
. Borrowers should carefully review PPP regulations and guidance and the certifications required to obtain a loan.
This morning, an additional Interim Final Rule (IFR) was issued, as well as a Frequently Asked Questions.
The new interim rule has loosened gambling eligibility - Casinos are now eligible.
A business that is otherwise eligible for a PPP Loan is not rendered ineligible due to its receipt of legal gaming revenues, and 13 CFR 120.110(g) is inapplicable to PPP loans. Businesses that received illegal gaming revenue remain categorically ineligible.
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Agricultural Enterprises
PPP Update
We received this language from the Iowa SBA District Office. "
As has been previously announced farmers are eligible for PPP.
Their payroll calculations should be handled the same as any other type of eligible entity. However, we have received numerous questions regarding how to calculate payroll for Sole Proprietor Farmers. This guidance comes from the SBA's Office of Capital Access. Please note it does not mention making any modifications (such as adding back depreciation) to the net profit reported.
Self-employed farmers (i.e., those who report their net farm profit on IRS Form 1040 Schedule 1 and Schedule F) should use IRS Form 1040 Schedule F in lieu of Schedule C, and Schedule F line 34 net farm profit should be used to determine their loan amount in place of Schedule C line 31 net profit. The 2019 IRS Form 1040 Schedule 1 and Schedule F should be included with the loan application."
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EIDL Update
Agricultural enterprises with not more than 500 employees are now eligible for EIDL loans
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Addressing PPE Needs in Non-Healthcare Setting
FEMA released a fact sheet summarizing how organizations in non-health care settings should consider and manage their PPE needs while ensuring the protection of workers. Industries whose essential critical infrastructure workers need PPE to perform their duties should continue working with suppliers and local, state, and federal government partners to acquire needed PPE, but should expect shortages to continue.
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FAKE
SAM.gov Website Warning
GSA was notified of a fraudulent website which is using the look/feel of the real SAM.gov and the look/feel of the real login.gov (
https://login.gov/
) sign-in page.
The website at
https://sam-gov.org
is NOT a legitimate web site. Do not enter any information on this website.
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Webinar
GFDA will be releasing a Re-Opening Toolkit early next week. We have already scheduled two webinars to discuss.
Re-Opening Toolkit
Friday, May 1 | 11:00-11:30AM
In this brief 30-minute webinar, we will provide some of the basics business owners will need to take into account as they reopen their business during the COVID-19 crisis.
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Montana Re-Opening
On Wednesday, Governor Bullock issued re-opening guidelines. The re-opening will take place in three phases, each with their own guidelines.
Please note that these guidelines are subject to change, and are subject to local jurisdiction.
The Montana Department of Commerce says that if you are a business owner and have questions related to the April 22 announcement detailing the phased approach to reopening and how the plan applies to you directly, please call 1-800-755-6672.
Cascade County Plans to Follow Governor Guidelines
We were told verbally today by Trisha Gardner, the Cascade County Health Director, that she will follow the Governor’s re-opening directive at this time. She plans to issue additional guidance, but not more restrictive rules, unless necessary. We are waiting for a formal statement to this effect. County and tribal health directors may decide to issue directives more restrictive than the Governor’s as local conditions dictate. Please refer to your local health department. Be aware that local conditions can change quickly, so be prepared for your business to respond to possible changes. Think as if it were fire season conditions: red, orange, yellow or green. The Governor has called these Phase 1, 2 and 3. Hopefully, we will steadily move down to green, but prepare for fluctuations.
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Please refer any business that needs help.
Every single business in the Golden Triangle is important.
For all NEW loan inquiries, please contact:
Jolene Schalper
Senior Vice President, Business Development
For all existing GFDA and High Plains Financial loans, please contact:
Jill Kohles
Loan Officer
We have business advisors who are happy to provide assistance during these uncertain times:
Jason Nitschke
Cash flow, operational management, messaging.
Rich Gannon
Website, digital marketing, search engine optimization.
Barnett G. Sporkin-Morrison
Food, agriculture, energy, operational efficiency.
Tyler Menzales
Website, digital marketing, social media.
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