Latest updates from Senator Mike Lee's office. They have been absolutely fantastic partners and we're grateful for their help!
SBA:
PPP:
Nationally: 4,341,145 loans for $513,271,137,359
Utah: 47,046 loans for $5,273,873,612
EIDL:
Nationally: 252,340 loans for $24,874,672,512
Utah: 2,198 loans for $246,085,300
As I mentioned last week, there are still funds available so for any business who is interested in applying, please have them reach out to their SBA approved lender ASAP.
The SBA also released the PPP
Loan Forgiveness Application this week. Please follow the following link to view the application:
https://www.sba.gov/sites/default/files/2020-05/3245-0407%20SBA%20Form%203508%20PPP%20Forgiveness%20Application.pdf.
The Utah Economic Response Task Force:
As many of you have probably seen by now, yesterday, Governor Herbert released the Utah Leads Together 3.0 plan! If you have not seen/read through the plan, I encourage you to do so!
https://coronavirus.utah.gov/state-leaders-release-utah-leads-together-3-0/
The Governor’s Office of Economic Development (GOED):
I have brought this up in the past two emails I have sent but GOED still has a good deal of money available to send out for the Commercial Rental Assistance Program so I wanted to flag it for you all again. This program is designed to assist businesses, who have lost revenue due to COVID-19, pay their rent. Approved applicants will receive a grant between 25% - 100% of their monthly rent, not exceeding $10,000. The percentage will be based on a formula that takes into account the company’s loss of gross revenue and whether the company received funds from the PPP. Small businesses, non-profits, sole proprietors, independent contractors and self-employed individuals are able to apply!
To be eligible applicants must:
- Have a current lease on commercial property in the state of Utah
- Claim Utah as their principal place of business
- Be in operation with fewer than 100 employees on Feb. 15, 2020
- Demonstrate at least a 50% loss of gross monthly revenue after March 1, 2020, as a direct result of the COVID-19 pandemic
- Not received funds from the COVID-19 Agricultural Operations Grant Program (funded with federal CARES Act money)
Those interested in applying can do so at:
https://business.utah.gov/utah-covid-19-commercial-rental-assistance-program/.
If you have any further questions, comments or concerns, please do not hesitate to let me know!
Have a great day!
Justin Anthony
Business Outreach Director
US Senator Mike Lee
(202) 603-4617