June 1

Update from Senator Mike Lee's Office



Updated SBA numbers for the PPP and EIDL + EIDL Advance:
 
National:
PPP (Rounds one and two) – Loans: 4.4 million – Amount: $511 billion dollars (making the average about $116,000)
 
EIDL Advance – Advances: 3.1 million advances – Amount: $10.2 billion
 
EIDL Loans – Loans: 500,074 approved – Amount: $42.4 billion
 
Utah:
 
PPP (Rounds one and two) – Loans: 47,683 – Amount: $5.2 billion
 
EIDL Advance – Loan Advance: 23,507 – Amount: $82.7 million
 
EIDL Loans – Loans: 3,761 – Amount: $365.3 million
 
USDA:
 
Recently, U.S. Secretary of Agriculture Sonny Perdue announced that the USDA has made up to $1 billion in loan guarantees available to help rural businesses meet their working capital needs during the coronavirus pandemic.  In addition, agricultural producers that are not eligible for USDA Farm Service Agency loans may receive funding under USDA Business & Industry (B&I) CARES Act Program.  The USDA intends to consider applications in the order in which they are received.  However, if the demand of funds exceed availability, the Department may assign priority points to projects.
 
Eligible applicants may contact their local USDA Rural Development State Office in the state where the project is located. 
 
Update from the IRS on the Economic Impact Payments:
 
“WASHINGTON – As Economic Impact Payments continue to be successfully delivered, the Internal Revenue Service today reminds taxpayers that some payments are being sent by prepaid debit card. The debit cards arrive in a plain envelope from “Money Network Cardholder Services.”
 
Nearly 4 million people are being sent their Economic Impact Payment by prepaid debit card, instead of paper check. The determination of which taxpayers received a debit card was made by the Bureau of the Fiscal Service, a part of the Treasury Department that works with the IRS to handle distribution of the payments.
 
Those who receive their Economic Impact Payment by prepaid debit card can do the following without any fees.
  • Make purchases online and at any retail location where Visa is accepted
  • Get cash from in-network ATMs
  • Transfer funds to their personal bank account
  • Check their card balance online, by mobile app or by phone
This free, prepaid card also provides consumer protections available to traditional bank account owners, including protection against fraud, loss and other errors.
 
Quick links to the Frequently Asked Questions on IRS.gov: 
Economic Impact Payments: www.irs.gov/eipfaq
Get My Payment tool: www.irs.gov/getmypaymentfaq
Please go to EIPcard.com for more information about prepaid debit cards.”
 
If there are any further questions, comments or concerns, please do not hesitate to reach out. I am always happy to be a resource!
 
Justin Anthony
Business Outreach Director
US Senator Mike Lee
(202) 603-4617
 

Summit Speaker Series

Summit Speaker Series

Wednesday, June 3
08:30 AM - 09:30 AM 
Online Meeting



The Governor's Office of Economic Development presents a virtual Summit Speaker series
on Wednesday, June 3rd from 8:30 AM-9:30 AM.

REGISTER HERE

 

Join us *virtually* for an outdoor industry business discussion on Wednesday, June 3.

How are COVID-19 concerns affecting outdoor recreation and travel plans? What will the "new normal" of camping and tourism look like?

The COVID-19 edition of the North American Camping Report reveals that leisure travelers (both campers and non-campers) are seeing camping as the safest form of travel this summer as they resume travel among the current health precautions. The report also shows that camping, glamping, and road trips will be replacing other forms of travel this year for many travelers.

Join us and gain additional insights from the findings in this research.

“The North American Camping Report is an independent annual study of North American camper habits and desires conducted by KOA and Cairn Consulting. The results are used to guide KOA’s PR and marketing efforts and shared with the outdoor industry in order to increase the impact of the outdoors sector in the lives of campers."

View the report here and tune in on June 3 (or after!*) to hear more about it.

*Time slot doesn’t work well? Don’t worry! We will post a recording of this Summit Speaker Series to our YouTube channel where you can view this June 3 event, or previous webinar-style Summit Speaker Series recordings.

Join with Google Meet: https://meet.google.com/huw-rmhg-rva (or join by phone: +1 347-569-5035‬ PIN: ‪621 815 176‬#)

Utah Leads Together


PPP LOAN FORGIVENESS
June 3, 2020
 
Utah Leads Together: PPP Loan Forgiveness
 
The good news is that Bloomberg ranked Utah first in the nation for SBA loans awarded as a percent of eligible payroll at 97.5% meaning those eligible have been receiving those loans. Utah Bankers have processed 47,046 loans totaling $5.5 billion in PPP funds to Utah businesses. Now the conversation has turned to PPP loan forgiveness and several questions arise. Businesses need to start working on loan forgiveness and that process to maximize the amount of these loans that can be forgiven. Some of the questions we will cover are:
  • What is the update from Congress with changing the 75% rule and extending the 8-week period to 24-weeks?
  • What is the timeline of forgiveness? What happens if my request is denied?
  • How do I apply for forgiveness? What documentation do I need to demonstrate?
  • What is my audit risk with the SBA on loan amount, usage and forgiveness?
  • How do I navigate the difference between my EIDL advance and PPP loan to ensure forgiveness?
Your invited to join us for the Utah Leads Together: PPP Loan Forgiveness webinar on June 3, 2020 at 10:00 a.m.
Utah Leads Together Webinar:
PPP Loan Forgiveness
Wednesday, June 3, 2020
10:00 a.m. - 11:00 a.m.

PANELISTS
  • Senator Mitt Romney
  • Scott Anderson, president and CEO, Zions Bank
  • Susan Speirs, president, Utah Association of Certified Public Accountants
  • Howard Headlee, president, Utah Bankers Association (Moderator)

Now CFO

Fulfillment Friday with Now CFO - Building Scalability into your Business

Friday, June 5
12:00 PM - 01:00 PM 
Online Meeting



Fulfillment Friday Webinar - Featuring Brad Fisher & Sydney Isle

Friday June 5th at 12 pm


REGISTER HERE
 
Fulfillment Friday by NOW CFO features Brad Fisher & Sydney Isle. Brad & Sydney will be discussing how to build scalability into your business and leadership. This program will introduce you to the ‘Six Scalability's that enable business owners to unlock natural growth and sustain healthy profits. You can expect the discussion along with a live Q&A at the end.
 
Please join us Friday June 5th at 12:00 PM MST to be connected with community and find motivation to handle the current uncertainty, hardship and changes we are facing worldwide. Can't wait to see you there!
 
In case you want a brief preview of the discussion topic, feel free to visit Sydney and Brad’s web site at: www.featherstoneholdings.com

Grow Your Revenue

Grow Your Revenue Through Sales Funnel Mastery

Thursday, June 11
01:00 PM - 05:00 PM 
Online Meeting


 

Grow Your Revenue

Through Sales Funnel Mastery

A FREE virtual workshop

June 11, 2020

LIMITED SEATS

Normally $199/person

1pm-5pm MT

REGISTER NOW
 

COVID-19 HAS IMPACTED YOUR REVENUE

Learn To Make More Money,
More Predictably

Consider the following…

  • ­Do you know what your conversion rates are and how to improve them?
  • ­Are you using marketing automation tools to nurture and progress leads?
  • ­Do you understand your buyer’s journey?
  • ­Are your funnel stages clearly defined?

Unearth the bedrock answers to fundamental questions all businesses must answer to identify, execute, grow, and defend their niche market

Identify the problem your business solves, who has the problem, and how to connect them to the solution

Convert prospects to clients to brand evangelists with our proven process that, once implemented, becomes remarkably simple to execute

This workshop will help you:

  • Develop your strategic marketing plan
  • Create your custom sales funnel
  • Learn to manage conversion between stages of your funnel
  • Create a revenue road map for every member of your sales team
  • Create a system for increasing predictable and scalable top-line income
 
Main Newsletter - June 1