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Archive for the ‘Business News’ Category

Virtual Bazaar for Native Artist, Crafters, and Producers. December 12th and 13th

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NADC and it’s E-Commerce TRIIA is sponsoring a Virtual Bazaar for Native Artists, Crafters, and Producers this weekend on the 12th and 13th. We are partnering/collaborating with Social Distance Powwow Marketplace https://www.facebook.com/groups/832568190487520/ for this event. You can sign up as a vendor through the 11th. Please sign up as a guest to browse and shop Native Small Businesses. Also please share and forward to others!https://my.boothcentral.com/…/triia-virtual-native-art…

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Paycheck Protection Program (PPP) Loan Data – Key Aspects

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Paycheck Protection Program (PPP) Loan Data – Key Aspects

SBA Values Transparency, Accuracy, and Protecting Taxpayer Funds
Small businesses are the driving force of the American economy and are essential to America’seconomic rebound from the global pandemic. SBA is committed to ensuring that any release of PPP loan data does not harm small businesses or their employees.

PPP Is A Delegated Loan Making Process PPP loans are not made by SBA. PPP loans are made by lending institutions and then guaranteed by SBA. Accordingly, borrowers apply to lenders and self-certify that they are eligible for PPP loans. The self-certification includes a good faith certification that the borrower has economic need requiring the loan and a certification that the borrower has applied the affiliation rules and is a
small business, among other certifications. The lender then reviews the borrower’s application, and if all the paperwork is in order, approves the loan and submits the information to SBA.

PPP Loan Data Is Not Indicative of Loan Forgiveness or Program Compliance. A small business or non-profit organization that is listed in the publicly released data has been approved for a PPP loan by a delegated lender. The listed loan amount reflects the current loan approval amount. However, the lender’s approval does not reflect a determination by SBA that the borrower is eligible for a PPP loan or entitled to loan forgiveness. All PPP loans are subject to SBA review and all loans over $2 million will automatically be reviewed. Eligibility and compliance will be reviewed during the loan forgiveness process. Further, a small business’s receipt of a PPP loan should not be interpreted as an endorsement of the small business’ commercial activity or business model.

Canceled Loans Do Not Appear in the PPP Loan Data The public PPP data includes only active loans. Loans that were canceled for any reason are not
included in the public data release. Including only active loans provides a more accurate picture of the businesses being supported by PPP, as canceled loans did not receive any PPP funds.

PPP Loan Demographic Data Is Voluntarily Submitted PPP loan data reflects the information submitted by lenders to the SBA for PPP loans. Approximately 75% of all PPP loans did not include any demographic information at the time of loan application. The loan forgiveness application expressly requests demographic information for borrowers so that SBA can better understand which small businesses are benefiting from PPP loans.

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SBA Economic Injury Disaster Loans Available to Montana Small Businesses

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SACRAMENTO, Calif. – Small nonfarm businesses in nine Montana counties and neighboring counties in South Dakota and Wyoming are now eligible to apply for low‑interest federal disaster loans from the U.S. Small Business Administration, announced Director Tanya N. Garfield of SBA’s Disaster Field Operations Center-West. These loans offset economic losses because of reduced revenues caused by drought in the following primary counties that began Sept. 29, 2020.

Primary Montana counties:  Big Horn and Carter;

Neighboring Montana counties:  Carbon, Custer, Fallon, Powder River, Rosebud, Treasure and Yellowstone;

Neighboring South Dakota counties:  Butte and Harding;

Neighboring Wyoming counties:  Big Horn, Crook and Sheridan.

“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster,” Garfield said.

Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.

“Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 3 percent for businesses and 2.75 percent for private nonprofit organizations, a maximum term of 30 years and are available to small businesses and most private nonprofits without the financial ability to offset the adverse impact without hardship,” Garfield said.

By law, SBA makes Economic Injury Disaster Loans available when the U.S. Secretary of Agriculture designates an agricultural disaster. The Secretary declared this disaster on Nov. 20, 2020.

Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration. However, nurseries are eligible for SBA disaster assistance in drought disasters.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

The deadline to apply for economic injury is July 20, 2021.

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Montana Announces New and Improved Business Filing System Coming December 7, 2020

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Montana Secretary of State sent this bulletin at 11/24/2020 08:12 AM MST

Having trouble viewing this email? View the Web Version here.Logo Seal 500pxbsd-newSOS Enterprise for BusinessesThe Montana Secretary of State’s office is excited to announce the launch of a new and improved online business filing system!   The new system will be available on December 7, 2020.  What does this mean for you, our business customer?Business filings, UCC liens and notary filings are accessed in one system, SOS Enterprise.Step by step forms will easily guide you from start to finish through your business filings.Your current ePass login credentials will allow secure access to the new system, so that you can submit filings, order copies and certificates, or request other entity information.The filing process is much simpler! “Authority” to get access is no longer required for business owners, registered agents, attorneys, accountants, or other authorized agents.  Just log in, and you’re ready to file.To facilitate the launch of the new system, the on-line business registry will be unavailable at 10:00PM Tuesday, December 1st – Sunday December 6th.  On Monday December 7th, all business filings will be available in the new system.   Our Business Services Specialists remain ready to assist you.  By making our processes and procedures more efficient, we can continue to provide the immaculate customer service that you deserve.  Please contact us at 444-3665 or sosbusiness@mt.gov with questions.Thank you for your help in making commerce thrive in our great state of Montana!The Mission of the Office of the Secretary of State is to help commerce thrive, promote democracy, and record history for future generations.State Capitol Building | 1301 E. 6th Avenue | Helena, MT 59601 | 406.444.2034
sosmt.gov  |  Privacy Policy
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SBA News: EIDL COVID Loans Still Available.

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  • STEP Grant Webinar, December 15 12:00-1:00 MST – State Trade Expansion Program (STEP) provides resources for businesses interested in taking advantage of e-Commerce to sell to customers overseas. The future is moving online faster than ever! Nearly 60% of the entire world’s population is on the Internet, and 95% of the world’s consumers are outside the United States.  See additional information below (bottom of this email, below my signature line) and to register.
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SBA Announces New Reduced 504 Loan Debenture Rates

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NEWS RELEASE

PRESS OFFICE

Release Date: November 13, 2020                      Contact: Shannon.Giles@sba.gov

Release Number: 20-88          Follow us on Twitter, Facebook, Blogs & Instagram

SBA Announces New Reduced 504 Loan Debenture Rates

WASHINGTON – The U.S. Small Business Administration announced the updated interest rates for the 504 Loan Program offered by Certified Development Companies (CDC). The program now allows for 10, 20, and 25-year interest rates at 2.231 percent, 2.364 percent, and 2.399 percent, respectively. Small businesses can now apply for a 504 loan at these low-interest rates.

“These are very encouraging terms and very supportive of our nation’s goal to bounce-back from COVID-19,” said William Manger, SBA Chief of Staff and Associate Administrator for the Office of Capital Access. “The longer terms and now lowest interest rates support and encourage entrepreneurs to step outside of the box and look at real investments.”

Partnered with the SBA are the CDCs, which are the driving force behind the 504 Loan Program. See SBA’s 504 Loan Program factsheet for more information on how to expand your business real estate or improve your working capital.

The 504 Loan Program is an SBA business loan program authorized under Title V of the Small Business Investment Act of 1958, 15 U.S.C. 695 et seq.  The core mission of the 504 Loan Program is to provide long-term financing to small businesses for the purchase or improvement of land, buildings, and major equipment, to facilitate the creation or retention of jobs, and to support local economic development.  Under the 504 Loan Program, loans are made in conjunction with private-sector lenders to small businesses by CDCs, which are certified and regulated by the SBA to promote economic development within their community.

For questions about the 504 Loan Program, please contact your local SBA District office.                                     

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About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. 

As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, or expand their businesses, or recover from a declared disaster. 

It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov

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Shop Locally or Else ********

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Shop Locally

             or Else * * * * * * * *

Dear Editor,

The Shopping Local” theme always comes up around the Holidays but this year, due to the significant COVID-19 impacts, it’s even more important to support local businesses.  As eastern Montana communities continue to lose population and businesses, economic issues and needs have become even more urgent.  Most effective economic development starts at the local level.  That’s why supporting your local merchants is so vitally important during these challenging times.  Here are a few reasons to shop local:

* Local stores and businesses provide much needed jobs for our communities and pay taxes 

   which supports local government services and schools.  Consider that the next time you ask a

   local merchant for a donation.  Do the On-Line or out-of-town merchants give donations to our  

   local groups or support our local government services and schools?

* Shopping “Out-of Town” only helps “Out-of Towner’s.”  Sure you may save a few dollars on

   products and services but consider the high cost in traveling in dollars and time.  A shopping

   trip to another large Montana city would cost hundreds of dollars in operating vehicle expense. 

   You would have to buy lots of stuff in that big city to offset that expense.

* Give local merchants first chance at your business.  Vote with your dollars.  Now it’s very easy

   to say that there are not any good stores in town, or they do not have what I need, etc., etc., but

   I would encourage you to make a special effort to find your goods and services at the local

   level. Most of what you need can be found at local stores, if you look.  If not, ask a merchant to

   carry it or to special order it.  Whether it’s buying clothes, a burger or perhaps something  

   handmade at one of the arts and crafts shows, we all win if we support local businesses.

* Consumers vote with dollars so merchants need to listen to them and then take action.

* Merchants should be pro-active as well – do not wait for customers to come in – go get them.

* For seer survival, merchants need to evaluate and provide better customer Service, better  

   Savings and better Selections.

During this stressful Holiday season, let’s remember to make a special effort to support our local merchants.  If we don’t, who will? 

Jim Atchison

Colstrip

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Small Business Workshop and Open House

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Free

Please join us for a Small Business Workshop and Open House

Open to anyone and everyone

December 3, 2018 6:30 pm until 8:30 pm

Colstrip City Hall

Brought to you by: MT AFL-CIO, MCC, DCC, CDKC, Job Service, SEMDC and SBDC

 

Small Business Flyer

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Strengthening Economies in Montana – A Forum For Coal Reliant Communities

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Is your county or region experiencing economic challenges due to the contraction of the coal industry? Are you seeking effective approaches to support economic diversification, workforce development and improved quality of life in your community?

Join the National Association of Counties and the National Association of Development Organizations (NADO) Research Foundation in Billings, Mont., on April 18–19th for Strengthening Economies in Montana, a free forum designed for coal-reliant counties and regions from across Montana. This convening will bring together stakeholders from the public and private sectors for an educational and interactive gathering to share best practices, lessons learned and new opportunities to support economic diversification. Prepare for a mix of interactive sessions and small group discussions designed to deepen and foster new partnerships aimed at promoting innovation and prosperity throughout Montana and the Western regions.

The forum will offer ample opportunity to network with your peers, state and federal officials and other practitioners who are promoting economic and community development at the local, regional and state levels. All interested community stakeholders from Utah are welcome to attend, including: county and other local officials; regional development organization staff; workforce development professionals; non-profit and philanthropic leaders; business owners; and representatives from K-12 and higher education institutions.

This forum is funded through the support of the U.S. Economic Development Administration – Denver Regional Office, as part of NACo and NADO RF’s larger four-state initiative: Strengthening Economies in the West, which provide tailored  economic diversification support and technical assistance for coal-reliant counties and regions in Colorado, Montana, Utah & Wyoming. This initiative kicked off in April of 2017 with an educational forum in Denver.

Attendance for this forum is encouraged for Montana counties and regions economically linked to the coal industry and forum content will primarily focus on strategies and opportunities specifically unique to Montana. Through this regional initiative, a similar forum was held in Utah in October 2017, while forums will later take place in Wyoming and Colorado over the course of 2018.

Please visit this link to register for the forum.

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Energy Open scheduled for August 17th and 18th

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The 14th Annual Energy Open Tours and Golf Tournament will be held on August 17th and 18th, 2017 in Colstrip, the “Energy Capital of Montana.”

Southeastern Montana Development Corporation (SEMDC) and Colstrip UNITED cordially invite the public to participate in this unique opportunity which “showcases the economic benefits of responsible energy development.”  This is a great opportunity to tour unique energy facilities, network with energy leaders, decision makers, legislators and golf one of Montana’s most challenging public courses.

The Energy Open starts at 9:30 am on Thursday August 17th at Colstrip High School with registration and networking opportunities.  Lunch will be served prior to the attendees departing on two different Tours.  The two Tours will feature the Colstrip Power Plant Complex (coal fired power generation), the Boilermakers Training Center (workforce training), Rye Park and Castle Rock Lake (environmental and quality of life benefits) and the Western Energy Rosebud Coal Mine (mining, safety and award winning reclamation efforts).  The first day will conclude with a dinner at the Wagon Wheelz Café / Moose Lodge.

On Friday August 18th, the Ponderosa Butte Golf Course in Colstrip will host the Energy Open 18 Hole Golf Tournament with lots of prizes, a shot at the “Coal Cup” Corporate Trophy and the $20,000 Hole-In-One prize.  The golf teams will be treated to a breakfast prior to the tee time of 10:00 am.   The day will conclude with a scholarship raffle and the tournament awards presentations.

The Energy Open is free to the public but prior registration is required.  For more general information, please contact SEMDC at (406) 748-2990 or email jatchison@semdc.org or prhill@semdc.org. Additional information is available at www.semdc.org.

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