• COVID-19: Business Triage

  • COVID19 Business Triage Rome, Ga
  • Latest News Covid 19 rome ga floyd county
  • Restaurant Revitalization Fund (RRF)

    While the SBA has not yet opened the grant application process, there are things the Rome Floyd Chamber is offering to help you get these things done now so that when the process opens, you are the first in line.

    see an application here!

     

    1. To apply, you will need your Employer Identification Number.
    2. You will also need to get a DUNS number. It’s free.
    3. Using your DUNS number, you can now apply through a government website SAM.gov to get a SAM number. This is FREE too.  (There are companies out there that will try to get you to pay them to process this.  You do not need to pay anything to get this number.)
    4.  Get your paperwork together like P&L’s and tax documents.  The grant is based on the difference between your 2019 and 2020 gross revenue.  Forgiven PPP loans do count as revenue for your 2020 numbers. EIDL loans, and ERTC do not count against you. Restaurants can get first draw and second draw PPP loans and can also apply for the restaurant grant but this does impact how much you can get. 

    If you want to simply apply for these numbers directly, click here to go to the article that provides you with the links to SAM and DUNS. 

     

    Please call 706-291-7663 with any questions. 

  • Biden Administration takes steps to promote equitable access to SBA relief

    On Monday, February 22, President Biden announced the following changes to SBA's coronavirus relief programs to ensure equity:

    Specifically, on Wednesday, February 24, 2021 at 9 am ET, SBA will establish a 14-day, exclusive PPP loan application period for businesses and nonprofits with fewer than 20 employees. This will give lenders and community partners more time to work with the smallest businesses to submit their applications, while also ensuring that larger PPP-eligible businesses will still have plenty of time to apply for and receive support before the program expires on March 31, 2021.

    SBA also announced four additional changes to open the PPP to more underserved small businesses than ever before. While these changes are being implemented, SBA will work with community partners to improve the emergency relief “digital front door” and conduct extensive stakeholder outreach. And, SBA will strengthen its relationships with lender partners to advance equity goals, deliver funding efficiently, and prevent fraud, waste, and abuse. SBA will:

    • Allow sole proprietors, independent contractors, and self-employed individuals to receive more financial support by revising the PPP’s funding formula for these categories of applicants;
    • Eliminate an exclusionary restriction on PPP access for small business owners with prior non-fraud felony convictions, consistent with a bipartisan congressional proposal; 
    • Eliminate PPP access restrictions on small business owners who have struggled to make student loan payments by eliminating student loan debt delinquency as a disqualifier to participating in the PPP; and
    • Ensure access for non-citizen small business owners who are lawful U.S. residents by clarifying that they may use Individual Taxpayer Identification Number (ITIN) to apply for the PPP.
    •  

    A critical goal from Congress for the latest round of PPP was to reach small and low- and moderate-income (LMI) businesses who have not received the needed relief a forgivable PPP loan provides. Congress set a $15B set-aside for small and LMI first draw borrowers. With existing policies, the current round has only deployed $2.4B to small LMI borrowers, in part because a disproportionate amount of funding in both wealthy and LMI areas is going to firms with more than 20 employees. The less than 20 exclusivity period combined with the changes to expand access for sole proprietors, ITINs, returning citizens, and student loan debt will help us achieve Congressional goals.

  • Governor Kemp Announces $552M Georgia Rental Assistance Program

    Atlanta, GA – Today, Governor Kemp announced that the State of Georgia has received more than $552 million in stimulus funds through the federal Emergency Rental Assistance Program. Congress appropriated $25 billion to provide relief to landlords and tenants who are behind on rent and utility payments due to the coronavirus pandemic.

    “The effects of COVID-19 have hit many Georgians hard financially,” Governor Brian Kemp said. “In addition to protecting lives, we have to protect livelihoods so that Georgians can continue to have economic opportunity. I am pleased to be able to provide this rental relief to renters and landlords who have been impacted the most.”

    The Department of Community Affairs (DCA) will administer the State of Georgia Rental Assistance (GRA) program, which will be subject to US Treasury guidelines (which are still under development). The payment will be made directly to the landlords and utility providers. Payments generally may not exceed 12 months, but some households may qualify for a total of 15 months under certain circumstances.

    In general, households meeting all following criteria will be eligible:

    ▪ Qualified for unemployment benefits or has experienced a reduction in household income, incurred significant costs, or experienced other financial hardship due directly or indirectly to COVID-19; and

    ▪ Demonstrates a risk of experiencing homelessness or housing instability; and

    ▪ Has a household income at or below 80 percent of the Area Median Income (AMI), with priority given to: 1) households below 50 percent of the AMI, or 2) households with one or more individuals who have been unemployed 90 days or longer at the time of application

    Qualified for unemployment benefits or has experienced a reduction in household income, incurred significant costs, or experienced other financial hardship due directly or indirectly to COVID-19; and

     

     

    Demonstrates a risk of experiencing homelessness or housing instability; and

     

     

    Has a household income at or below 80 percent of the Area Median Income (AMI), with priority given to: 1) households below 50 percent of the AMI, or 2) households with one or more individuals who have been unemployed 90 days or longer at the time of application

     

    The CDC Eviction Moratorium has been extended until March 31, meaning that no one should be evicted solely for non-payment of rent until that date. Visit GeorgiaLegalAid.org for more information.

    DCA anticipates launching the public application portal in March, and additional program details will be available soon. For more information, visit

    www.GeorgiaRentalAssistance.ga.gov.

     

  • Georgia Safety Promise

    What is the Georgia Safety Promise? It’s a statewide campaign from the Governor’s Office and the Georgia Department of Health that encourages businesses and the public to agree to simple, but critical, measures that will keep Georgians safe from COVID-19, minimize spread of the virus, and keep Georgia open for business.

    Learn more here. 

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    CDC-Returning to Work

    Updated Nov. 27, 2020
    What you need to know
    • In general, the more closely you interact with others and the longer that interaction, the higher the risk of COVID-19 spread.
    • If you return to work, continue to protect yourself by practicing everyday preventive actions.
    • Keep these items on hand when returning to work: a mask, tissues, and hand sanitizer with at least 60% alcohol, if possible.
    • Considerations for returning to work

      Do you have or think you might have COVID-19, or have you been around someone who has the virus?

      Are you or someone in your household at increased risk of severe illness? You may need to take extra precautions.

      • If you are at increased risk for severe illness, check with your employer to see if there are policies and practices in place to reduce your risk at work, like telework or modified job responsibilities.

      Are you the primary caregiver for your child or someone else? If so, here are some things to think about:

      • If someone else will be taking care of your child, ask them to review information about caring for children.
      • If someone else will be providing care for a household member that is at increased risk of severe illness or needs extra precautions, ask them to review this information.

      Are there ways you can minimize the number of people you interact with?

      • In addition to any measures your business may have implemented to reduce your risk (e.g., installed barriers), take additional steps to minimize the number of people you interact with.
      • Interacting with more people raises your risk since some people may have the virus and not know it since they have no symptoms.
      • Can you have virtual meetings to limit the number of in-person interactions?
      • When interacting with other people, are policies in place for colleagues or customers to wear a mask and to keep 6 feet of space between others?

      What’s the length of time that you will be interacting with people?

      • Spending more time with people who may be infected increases your risk of becoming infected.
      • Spending more time with people increases their risk of becoming infected if there is any chance that you may already be infected.

      Protect yourself and others in the workplace

      Stay home when needed

      Monitor your health

      • Be alert for symptoms. Watch for fever, cough, shortness of breath, or other symptoms of COVID-19.
      • Take your temperature if symptoms develop.
        • Don’t take your temperature within 30 minutes of exercising or after taking medications that could lower your temperature, like acetaminophen.
      • Follow CDC guidance if symptoms develop.

      Wear a mask

      • Wear a mask in public settings where staying 6 feet apart (about two arms length) is not possible. Interacting without wearing a mask increases your risk of getting infected.
      • Wearing a mask does not replace the need to practice social distancing.
      • Wear masks to help keep from getting and spreading COVID-19.

      Social distance in shared spaces

      • Maintain at least 6 feet of distance between you and others. COVID-19 spreads easier between people who are within 6 feet of each other.
        • Keeping distance from other people is especially important for people who are at increased risk for severe illness, such as older adults and those with certain medical conditions.
        • Indoor spaces are more risky than outdoor spaces where it might be harder to keep people apart and there’s less ventilation.
      • Avoid close contact with others on your commute to work, if possible. Consider biking, walking, driving either alone or with other members of your household. Learn how to protect yourself when using transportation to commute to work.

      Wash your hands often

      • Wash your hands often with soap and water for at least 20 seconds or use hand sanitizer with at least 60% alcohol if soap and water are not available. If your hands are visibly dirty, use soap and water over hand sanitizer.
      • Avoid touching your eyes, nose, and mouth if you haven’t washed your hands.

      Cover your coughs and sneezes

      • Remember to cover your mouth and nose with a tissue when you cough or sneeze, or use the inside of your elbow. Throw used tissues into no-touch trash cans and immediately wash hands with soap and water for at least 20 seconds.
        • If soap and water are not available, use hand sanitizer containing at least 60% alcohol.

      Avoid sharing objects and equipment

      • Avoid using other employees’ phones, desks, offices, or other work tools and equipment, when possible. If you cannot avoid using someone else’s workstation, clean and disinfect before and after use.

      Clean and disinfect frequently touched surfaces and objects

      • Clean and disinfect frequently touched objects and surfaces, like workstations, keyboards, telephones, handrails, and doorknobs. Dirty surfaces can be cleaned with soap and water before disinfection.
      • To disinfect, use these EPA-registered disinfectantsexternal icon.

      Returning to work after quarantine or isolation

      Quarantine keeps someone who might have been exposed to the virus away from others. Learn when to start and end quarantine.

      Isolation separates someone who is infected with the virus from others. Learn when you can be around others after being sick.

      Cases of reinfection of COVID-19 have been reported but are rare. In general, reinfection means a person was infected (got sick) once, recovered, and then later became infected again. Based on what we know from similar viruses, some reinfections are expected.

    Access to Capital for Entrepreneurs, Inc. Access to Capital for Entrepreneurs, Inc.

    ACE’s Relief, Recovery and Reinvention strategy is a new access to capital program that will support small businesses in hard-hit populations and sectors working to reimagine their business model for profitability and sustainability in this new pandemic economy. ACE recently received funding to help support small businesses during the pandemic. Businesses eligible are required to fit within the following criteria:

    • Developed or implemented a pivot strategy and need capital to implement or scale it; or have a defensive COVID-neutral strategy and need capital to maintain strong growth

    • Time in business 2 years or greater

    • Loans Over $50K, Up to $200K

    -Target Market: Primarily underserved communities and minorities

    There are two major benefits:

    1. Interest Rate Reduction to 3% for the term of loan. Terms up to 10 years (Determined based on Purpose/Collateral)

    Interest rate and promissory note will reflect a 3% fixed interest rate until maturity. Terms and interest rate after maturity will be subject to current loan rates and other qualifying requirements at the time of maturity.

    2. Payment relief will be supported by the grant for a period up to nine (9) months provided borrowers meet the required Business Advisory/Technical Assistance conditions and make the first six (6)

    monthly P&I payments. (P&I payments in month seven thru fifteen will be made for you through the grant and your payments will resume in month sixteen.)

     

    Thank you for being a partner to ACE and I am looking forward to working with you and your referrals to get the local businesses back on track to support their employees, families and communities.

     

    ACE specializes in growing small businesses with Capital, Coaching, & Connections

     

    Zab Mendez

    Commercial Loan Officer

    O:  706.847.4246

  • Shuttered Venue Operators Grant

    https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/shuttered-venue-operators-grant

     

    Who can apply

    Eligible entities include:

    • Live venue operators or promoters
    • Theatrical producers
    • Live performing arts organization operators
    • Relevant museum operators, zoos and aquariums who meet specific criteria
    • Motion picture theater operators
    • Talent representatives, and
    • Each business entity owned by an eligible entity that also meets the eligibility requirements

     

    Other requirements of note:

    • Must have been in operation as of February 29, 2020
    • Venue or promoter must not have applied for or received a PPP loan on or after December 27, 2020
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  • The City of Rome has been notified of an additional allocation of CARES Act funds through the Community Development Block Grant program in the amount of $255,497.
    The funds must be used to prevent, prepare for and respond to the coronavirus (COVID-19). This allocation must also be used for an eligible activity that meets all the CDBG regulations and national objectives. The City's 2019-2023 Consolidated Plan and 2019 Action Plan are going through an amendment in order to be able to access these funds for use in the community.
    Please see the attached public notice for additional information and visit the Community Development website for additional details and to view the draft plan document: https://romefloyd.com/departments/community-development
  • NEW: SBA just launched a mapping tool to help Targeted #EIDL Advance applicants determine if they are located in a low-income community, which is one of several requirements for the program. SBA is currently contacting businesses to apply.

    https://sbaeidl.policymap.com/newmaps#/

     

     

    Thanks to generous funding from Lowe's, small business owners in rural communities are invited to apply to the next round of the Rural Relief Small Business Grants program.

    Before you apply, please note:

    • Only businesses located in rural communities are eligible to receive a Rural Relief Small Business Grant. Review eligibility information here
    • This program is separate from previous small business grant applications from LISC. You must submit a new application each round to be considered for a Rural Relief Small Business Grant.

    Application deadline is Tuesday, February 2nd at 11:59PM ET.

     

    Apply Now

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  • Learn about the new COVID-19 releif bill, signed into law on December 27th, by visiting the Journal of Accountancy

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  • Notice: Paycheck Protection Program resumed January 11, 2021 at 9am ET

    SBA, in consultation with the U.S. Treasury Department, reopened the Paycheck Protection Program (PPP) for First Draw Loans the week of January 11, 2021.

    To promote access for smaller lenders and their customers, SBA will initially only accept First Draw PPP Loan applications from participating community financial institutions (CFIs), which include Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), and Microloan Intermediaries. Paycheck Protection Program lending will reopen to all participating lenders shortly thereafter.

    Borrowers can be matched with qualified PPP lenders using SBA Lender Match.

    Loan details

    The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on payroll. First Draw PPP Loans can be used to help fund payroll costs, including benefits, and may also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.

    SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses.

    • PPP loans have an interest rate of 1%.
    • Loans issued prior to June 5, 2020 have a maturity of two years. Loans issued after June 5, 2020 have a maturity of five years.
    • Loan payments will be deferred for borrowers who apply for loan forgiveness until SBA remits the borrower's loan forgiveness amount to the lender. If a borrower does not apply for loan forgiveness, payments are deferred 10 months after the end of the covered period for the borrower’s loan forgiveness (either 8 weeks or 24 weeks).
    • No collateral or personal guarantees are required.
    • Neither the government nor lenders will charge small businesses any fees.

    Who may qualify

    The following entities affected by Coronavirus (COVID-19) may be eligible:

    • Sole proprietors, independent contractors, and self-employed persons
    • Any small business concern that meets SBA’s size standards (either the industry size standard or the alternative size standard)
    • Any business, 501(c)(3) non-profit organization, 501(c)(19) veterans organization, or tribal business concern (sec. 31(b)(2)(C) of the Small Business Act) with the greater of:
      • 500 employees, or
      • That meets the SBA industry size standard if more than 500
    • Any business with a NAICS code that begins with 72 (Accommodations and Food Services) that has more than one physical location and employs less than 500 per location

    How and when to apply

    You can apply for a First Draw PPP Loan until March 31, 2021. To promote access for smaller lenders and their customers, SBA will initially only accept Second Draw PPP Loan applications from participating community financial institutions (CFIs). All new First Draw PPP Loans will have the same terms regardless of lender or borrower.

    To be matched with a participating PPP lender, visit SBA Lender Match.

    If you wish to begin preparing your application, you can download the following PPP borrower application form to see the information that will be requested from you when you apply with a lender:

    Supplemental materials

    Affiliation rules

    Reapplying and loan increases

    Existing PPP borrowers that did not receive loan forgiveness by December 27, 2020 may:

    • Reapply for a First Draw PPP Loan if they previously returned some or all of their First Draw PPP Loan funds, or
    • Under certain circumstances, request to modify their First Draw PPP Loan amount if they previously did not accept the full amount for which they are eligible

    Loan details

    The Paycheck Protection Program (PPP) now allows certain eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP Loan with the same general loan terms as their First Draw PPP Loan. 

    Second Draw PPP Loans can be used to help fund payroll costs, including benefits. Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.

    Maximum loan amount and increased assistance for accommodation and food services businesses

    For most borrowers, the maximum loan amount of a Second Draw PPP Loan is 2.5x average monthly 2019 or 2020 payroll costs up to $2 million. For borrowers in the Accommodation and Food Services sector (use NAICS 72 to confirm), the maximum loan amount for a Second Draw PPP Loan is 3.5x average monthly 2019 or 2020 payroll costs up to $2 million.

    Who may qualify

    A borrower is generally eligible for a Second Draw PPP Loan if the borrower: 

    • Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses
    • Has no more than 300 employees; and
    • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020

    How and when to apply

    You can apply for a Second Draw PPP Loan from January 13, 2021, until March 31, 2021. To promote access for smaller lenders and their customers, SBA will initially only accept Second Draw PPP Loan applications from participating community financial institutions (CFIs). All Second Draw PPP Loans will have the same terms regardless of lender or borrower. 

    To be matched with a participating lender, visit SBA Lender Match.

    If you wish to begin preparing your application, you can download the following PPP borrower application form to see the information that will be requested from you when you apply with a lender:

    Supplemental materials

    Affiliation rules

     

     

     

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  • Eligibility

    • Substantial economic injury means the business is unable to meet its obligations and pay its ordinary and necessary operating expenses.

    • EIDL provides the necessary working capital to help small businesses impacted by a disaster survive until normal operations resume.  

    • EIDL assistance is available only to small businesses when SBA determines they are unable to obtain credit elsewhere.

     

    SBA can provide up to $2 million* to help meet financial obligations and operating expenses that could have been met had the disaster not occurred. The loan amount will be based on your actual economic injury and your company's financial needs, regardless of whether the business suffered any property damage. *A business may qualify for, both, an EIDL and a physical disaster loan.

    The maximum combined loan amount is $2 million. A separate SBA Disaster Assistance program known as Business Physical Disaster Loans covers property damage.

    Use of proceeds

    • Working capital and normal expenses

    • Example: Continuation of health care benefits, rent, utilities, and fixed debt payments.

    Terms

    • The interest rate will not exceed 4%

    Maturity

    • Up to 30 years, repayment term to be determined by ability to repay the loan.

    • No pre-payment penalty or fees

    Collateral requirements

    • Required for loans over $25,000

    • Real estate is the preferred collateral. Loans of $200,000 or less will not require the owner of the business to use their primary residence as collateral if it is determined the owner has other assets of equal quality and a value equal to or greater than the amount of the loan.

    How to apply

    Additional information

    Contact the SBA Disaster Assistance Customer Service Center 

    Phone: 800-659-2955

    TTY: 800-877-8339

    Email: disastercustomerservice@sba.gov

  • COVID LOCAL FINANCIAL RESOURCES
  • Rome, GA Floyd County
  • The Community Foundation for Greater Rome is announcing the COVID-19 Recovery Fund, an initiative to help local nonprofits and small businesses address the long-term needs of our community members impacted by the coronavirus pandemic

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  • Applications are being accepted for the remaining funds beginning August 4, 2020 until the funds are exhausted.

    The City of Rome, through the Community Development Department, will provide operating assistance to business owners for the purpose of assisting small businesses that are in jeopardy as a result of the on-going COVID-19 pandemic and public safety measures. Retail, commercial, service and entertainment businesses that rely on customers making purchases at their establishments are especially affected by the pandemic. This program is designed to provide relief to those types of businesses that have been negatively affected by the pandemic resulting in a decline and/or loss of revenue. 

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  • Encuentre más información sobre préstamos para la Administración de Pequeñas Empresas en los enlaces a continuación en varios idiomas.

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  • state of Georgia resources
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  • Northwest Georgia Regional Commission’s

    Cares Act Recovery Assistance Micro-Loan RLF Program

     

    The Northwest Georgia Regional Commission (NWGRC) is the recipient of a new Economic Development Administration Revolving Loan Fund grant for the region’s small businesses.  Micro-loan funds are available to aid in efforts to alleviate the sudden and severe economic dislocation of the region’s small businesses and to seek significant improvement in employment in the region caused by the coronavirus (COVID-19) pandemic.  Eligible small businesses must be located in Bartow, Catoosa, Chattooga, Dade, Fannin, Floyd, Gilmer, Gordon, Haralson, Murray, Paulding, Pickens, Polk, Walker, or Whitfield counties. 

     

    Small business owners may apply for up to a 7-year term, low interest loan ranging from $3,000 to $50,000 (Other loan amounts may be considered).  Loans below $20,000 may be eligible without collateral (Personal Guarantee Required).  Loan amounts above $20,000 will require additional collateral. 

     

    Please contact Jennifer Whorton at jwhorton@nwgrc.org for an application, to discuss your business’s needs, and additional information.

  • The Community Development Department is now accepting applications for the Emergency Rental Utility Assistance Program (ERUG). The program provides one-time grants to individuals and families renting a residential property inside the city limits of Rome who have lost income directly related to COVID-19 (loss of job, reduction of hours, missed work time due to quarantine, etc). Please read the information provided on this post for details.

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  • U.S. Small Business Administration Disaster Office Contacts

    If you would like to coordinate information calls, briefings and other resources at the regional, state and local level, please reach out to the following contacts:

    Federal Regions I-V (States/Territories East of Mississippi River):
    Michael Lampton, Public Affairs Supervisor, michael.lampton@sba.gov
    Mark Ihenacho, Lead Public Affairs Specialist, mark.ihenacho@sba.gov

  • Local Assistance

    SBA works with a number of local partners to counsel, mentor, and train small businesses. The SBA has 68 District Offices, as well as support provided by its Resource Partners, such as SCORE offices, Women’s Business Centers, Small Business Development Centers and Veterans Business Outreach Centers. When faced with a business need, use the SBA’s Local Assistance Directory to locate the office nearest you.

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  • The Rome Floyd Chamber seeks to provide access to recommendations, regulations, services and expertise to its members.  During the COVID-19 pandemic, this mission remains constant.  Prior to acting, members should consult their own professional advisors for information and counsel specific to the individual and unique situations faced by organizations, individuals and corporations.  The opinions, interpretations and recommendations of the Rome Floyd Chamber are informational only and should not be relied upon by the recipient as legal or professional advice.  The Rome Floyd Chamber makes no representations as to the accuracy or reliability of the content contained herein.  Users of this information accept any and all risks associated with the use of such information and agree that the Rome Floyd Chamber has no liability to user.