Update on Business Resources for assistance during COVID19

With the impact of COVID19 on local business, many are in need of financial assistance for payroll, operations, and marketing.  Here is an update on the resources available locally and nationally:

Sharing an announcement from our friends at Prospera:

“The Economic Injury Disaster Loan (EIDL) and Advance –
Lapse in Appropriations Notice: SBA is unable to accept new applications at this time for the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program (including EIDL Advances) based on available appropriations funding.

  • Due to limited appropriations funding, the application portal for the EIDL–COVID-19 assistance program (EIDL loans and EIDL Advances) is temporarily closed.
  • Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis.
  • SBA is processing EIDL applications as quickly as possible. SBA will provide those whose applications are approved with loans that will cover the business’s short-term working capital needs.

Paycheck Protection Program (PPP) –
It is expected PPP will reach its ceiling very soon.

This is a loan from the SBA that is forgiven by the US Treasury. This loan is available through local banks. It is meant so you can pay yourself and your employees for 8 weeks, as well as some operations costs for expenses like rent and utilities.  75% of your loan must be used for payroll, and your staff must be clocking in and out for paid work days in order for you to use this money to pay staff.

  • By law, the SBA will not be able to issue new loan approvals once the programs experience a lapse in appropriations.”

Bozeman Chronicle Advertising Grant
Local businesses can apply for a grant to advertise with the Chronicle.

Bozeman Strong List of Operating Businesses
A list of various local business operating hours and offerings is available here, and you can add your listing.  You can purchase items directly from these businesses. bozemanstrong.org

Help Montana Gift Card Pack Initiative
Businesses can sign up to be part of a gift card pack initiative.  When a gift pack is purchased, businesses get paid for their gift card in the pack by the website host.  $5 of a gift card pack purchase can be donated to an employee (employees create a profile on the site to receive money from the purchases). Customers can use their gift cards to buy items from businesses that are partially operating, or can save the gift card for later when businesses open up again. helpmontana.org

Montana Tip Jar
This is a site where donations can be made and distributed to the profile of employees in service industries who have lost income due to the COVID-19 pandemic. Anyone working in one of Montana’s service industries can register (2 min max) using the form below, allowing you to receive tips directly into your Venmo account. montanatipjar.org

Questions About Local Rules and Restrictions? Contact Gallatin Co. Health Dept.
Healthy Gallatin’s COVID Call Center is open seven days a week from 8 a.m. to 5 p.m. to answer questions about COVID-19. Reach the Call Center by phone at 406-548-0123 or email at callcenter@readygallatin.com, or browse their website https://www.healthygallatin.org/coronavirus-covid-19/