This is a guest blog post by Greater Mankato Growth member business, Laketown Electric Corporation, to accompany their Business Focus video:
There is little doubt that the advancement of LED has drastically changed the landscape of the electrical contracting market for the better. Five years ago, a two-lamp fluorescent fixture would consume roughly 59 watts would deliver approximately 4,000 lumens and would last approximately 20,000 hours. They were not controllable except for on/off or occupancy sensing both with a special ballast. Once the tubes failed, they needed to be recycled in a special manner.Read More
Blue Earth County recognizes the important role certain community support organizations play in providing needed services for Blue Earth County residents, particularly in times of economic distress. Community support organizations that help provide housing services, food, childcare programs, employment opportunities, and access to social and health services mitigate the demand on County social service and public health programs.
The County further recognizes that community support organizations have been impacted by the current economic environment caused by the COVID-19 public health crisis in much the same way as business have been impacted. The County has, therefore, established a program to provide support for community organizations to assist those organizations in meeting the needs of Blue Earth County residents affected by the COVID-19 public health crisis.
The Blue Earth County Community Resource Grant Program will be administered through the County Administrator’s office. Organization representatives who have questions or need assistance in completing applications should contact:
Blue Earth County Administration
Attn: Josh Milow, Deputy County Administrator
204 South Fifth Street,
PO BOX 8608 Mankato, MN 56002-8608
Organizations are also encouraged to apply for all other available COVID-19 related funding programs offered by the U.S. federal government, the State of Minnesota and other granting/loaning agencies. Organizations applying for and receiving funds through these programs are still eligible to receive a grant from the County. Prioritization will be given to organizations that have not received funding from other sources.
*Prior to applying, please read through the list of Eligible Organizations and Ineligible organizations. Also, at the bottom of the page, the application process it outlined. Applications will be accepted between October 14 and October 31, 2020.
COMMUNITY RESOURCE GRANT APPLICATION
Read more here about Eligible Organizations, Amounts and Uses of Grants and Application Process.
In May 2020, we published the first of a two part series in Connect Business Magazine. Our initial article spoke to why businesses should incorporate refugees, asylees and immigrants into their workforce. In the upcoming issue of Connect Business Magazine, part two will be published, which outlines some key community resources that can help businesses with this effort. As our initial article was published while businesses across our region were closed, we have received permission to republish a portion of the article below, for those who may have missed it:
A second round of grant funding is being offered to small businesses and non-profits in Nicollet County that have been adversely impacted by the COVID-19 pandemic. The first round of funding was offered in September.
Grant awards will be provided to businesses and non-profits that experienced interruption, closure or significant revenue loss as a result of the public health emergency. Grant awards will be up to $10,000 based on eligibility. Businesses and non-profits with up to 50 full-time equivalent employees can apply. The first grant round was limited to businesses and non-profits with up to 20 full-time equivalent employees.
The SBA and Treasury Have Just Announced an Expedited Forgiveness Process for PPP Loans of $50,000 or Less
The US Small Busines Administration and Department of the Treasury have announced that an expedited process has been created to apply for loan forgiveness for those who received Paycheck Protection Program Loans of $50,000 or less. With the exception of employers who, together with their affiliates, received loans totaling $2,000,000 or more, those who received loans of $50,000 or less can utilize SBA Form 3508S.
This new process has waived the reduction in loan forgiveness for eligible employers who did not maintain their employee headcount or were forced to reduce wages. Employers are also no longer required to show the calculations they used to determine their loan forgiveness amount. It has also reduced the amount of documentation required to be submitted along with the loan application; however, all records related to the PPP loan must be retained for six years after the loan forgiveness date as representatives of the SBA can request to view the file.
For businesses needing assistance with this form we recommend partnering with the Small Business Development Center. Businesses can receive assistance by going to myminnesotabusiness.com and choosing “Apply for Services”.
At today’s Blue Earth County Board of Commissioners meeting, the Commissioners voted to expand the eligibility of the Business Assistance Grant Program. The program will now be offered to home based businesses (provided conformance with other criteria). The maximum full-time equivalent (FTE) employees has increased from 20 to 50. Lastly, there is no longer a cap on annual revenue. Read More
Member guest blog post, submitted by EideBailly. This article originally appeared on EideBailly.com
The government has released several updates to its Paycheck Protection Program (PPP) loan forgiveness guidance over the last few weeks. Here is a brief summary to help guide you through the PPP loan forgiveness process. Read More
The following blog was shared by the US Chamber of Commerce with its members regarding the recent changes to the payroll tax.
On Friday evening, August 28, the IRS released its first notice regarding implementation of the President’s executive order on payroll tax deferral. The document, which is just over two pages, can be found here: https://www.irs.gov/pub/irs-drop/n-20-65.pdf.
Nicollet County CARES funding is being used to provide assistance to small for-profit and not-for-profit businesses in Nicollet County adversely impacted by the COVID-19 pandemic. Grants of up to $10,000 will be provided for eligible expenses to:
- Businesses without employees (self-employed persons, sole proprietors, independent contractors, homebased business, etc.): Grants of up to $5,000.
- Businesses with 1-20 full-time equivalent (FTE) employees in addition to the owner: Grants of up to $10,000.
Your business or non-profit may be eligible to receive supplies to help prevent the spread of COVID-19. Funds to procure health and safety supplies are available as a part of the CARES stimulus package through Nicollet County.
Distribution of supplies and personal protective equipment (PPE) will depend on available supply and community needs. The first application submission deadline is August 21, 2020. The county expects to offer additional weekly applications and distribution opportunities in early September. Please check back to their website for updates: https://www.co.nicollet.mn.us/800/Nicollet-County-CARES
Eligibility overview: Read More