Re-Opening Business Resource Guide
The Ames Chamber of Commerce has put together this re-opening resource guide with best practices and tips to keep in mind when re-opening your business to the public. Download and print this guide today!
Employer (HR Related Resources)
IWD announces Guidance on Unemployment Benefits – Iowans Who Refuse to Return to Work Without Good Reason When Recalled Will Lose Eligibility to Unemployment Benefits. SEE LINK
The Department of Labor has issued this quick reference tool that includes information on the Paid Leave for Workers legislation recently passed in addition to tax credits for small to midsize businesses.
- Families First Coronavirus Response Act (FFCRA)
- Unemployment insurance tax extension – First quarter unemployment tax payments that are due April 30th will be delayed till the end of the 2nd quarter, July 31, 2020
McFarland Clinic has provided our offices with these additional resources that our Story County employers may find of value.
TECHNICAL ASSISTANCE PROGRAM
- NEW: Ames Chamber of Commerce is offering technical assistance to businesses in Story County.
- Businesses who opt-in will participate in a one-hour video conference with a member of the Business Development Team to discuss their current challenges and then the realities of opening up. Our team will share some best practices and tie it directly to their business so they have some true actionable items.
- CLICK HERE to sign up for the Technical Assistance Program
Paycheck Protection Program
- Treasury and SBA have unveiled a streamlined forgiveness application for the Paycheck Protection program. In addition to revising the full forgiveness application, SBA also published a new EZ version of the forgiveness application that applies to borrowers that:
- Are self-employed and have no employees, OR
- Did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number or hours of their employees; OR
- Experienced reductions in business activity because of health directives related to COVID-19 and did not reduce the salaries or wages of their employees by more than 25%.
- The EZ application requires fewer calculations and less documentation for eligible borrowers.
- Both applications give borrowers the option of using the original 8-week covered period (if their loan was made before June 5, 2020) or an extended 24-week covered period. These changes will result in a more efficient process and make it easier for businesses to realize full forgiveness of their PPP loan. Learn More
Federal Reserve Main Street Lending Program - The Federal Reserve has established a Main Street Lending Program to support lending to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 pandemic. The Program will operate through three loan facilities: the Main Street New Loan Facility (MSNLF), the Main Street Priority Loan Facility (MSPLF), and the Main Street Expanded Loan Facility (MSELF). See your lender for guidance.
- U.S. Small Business Administration Economic Injury Disaster Loans (EIDL) – EIDLs of up to $2 million are now available to help meet financial obligations and operating expenses. Iowa applications are currently being accepted at https://disasterloan.sba.gov/ela/
- Employee Retention Tax Credit Under the CARES Act - The Employee Retention Credit is a fully refundable tax credit for employers equal to 50 percent of qualified wages (including allocable qualified health plan expenses) that Eligible Employers pay their employees. This Employee Retention Credit applies to qualified wages paid after March 12, 2020, and before January 1, 2021. Please see additional information HERE.
- Small Business Relief Initiative - GoFundMe: GoFundMe has partnered with Yelp and Intuit QuickBooks to create a Small Business Relief Fund to help small businesses negatively affected by the COVID-19 pandemic. Each of these three companies has contributed $500,000 to the Fund, and it's receiving additional donations from the public. The fund will provide $500 grants to any small business that raises $500 on GoFundMe.
- From The Red Backpack Fund and GrantSpace to Hello Alice and SheaMoisture open Variety of Grant Programs for specific information.
Business to Business Specials
Alpha Copies & FASTSIGNS: Letter size color copies are just 5/$1 and banners are only $3/sq. ft.
Global Reach: 3 years financing on new projects with 0% interest.
Mayfair Cleaners: Mayfair Cleaners is glad to launder any medical staff scrubs or uniform clothing worn while in the clinic at no charge. This applies to scrubs and uniforms that are owned-by and otherwise cleaned-by individual healthcare workers. All cleaning will be processed and completed for pick up at Mayfair Cleaners (508 Lincoln Way in Ames) the following business day. Please use a bag to contain soiled uniforms and seal if possible.
To drop off, please include a slip of paper (or write directly on the outside of the bag) including first and last name and telephone number. We also have a drop box available 24/7.
PC Matic: PC Matic is offering free cybersecurity and remote management tools to companies & organizations who are implementing work from home policies. These tools will be available at no cost through June 30, 2020.
Staples: Staples is ready to help with your re-opening needs! Please feel free to come in and talk with our team of experts, we have many pre packaged deals or we can help you create one that is unique to your business. Check out the packages today!
TheBrandPeavy.com - Offering KN95 masks; purchase masks for healthcare providers proceeds will be donated to support a local small business.
Pages to Monitor