American Rescue Plan COVID-19 Small Business Tax Credits
The American Rescue Plan extends a number of critical tax benefits, particularly the Employee Retention Credit and Paid Leave Credit, to small businesses.
The American Rescue Plan extends a number of critical tax benefits, particularly the Employee Retention Credit and Paid Leave Credit, to small businesses.
Southern Oregon will be receiving part of $28 million funding grant. The funds can be used for all kinds of businesses including restaurants, gyms, and personal services (e.g. salons).
The program to provide financial assistance for small businesses adversely affected by the April 30th county shift from “High” to “Extreme” Risk for Josephine County will open Monday, May 25.
Over $1.4 million in grant funds are now available for eligible businesses impacted by the April 30th move to “Extreme Risk” related to COVID19 in Jackson County. Applications for this new “SOCARES 2021” fund may be accessed through Southern Oregon Regional Economic Development, Inc. (SOREDI), which has contracted as grant administrator. Applications must be submitted by May 20th.
The Rogue Workforce Partnership still has limited funding that can help support and sustain local restaurants during this challenging time. Grant applicants need to: 1) Have at least 3 employees; 2) Be solely located in either Jackson or Josephine county; 3) and are not part of a regional or national chain. Preference will be given to applicants who have sought Technical Assistance from the Oregon Restaurant COVID Assistance (ORCA) project. Connect with your local ORCA advisor: Michael Lainoff, ORCA Project, Managerorca@oregonsbdc.org, (541) 896-1714 – https://oregonsbdc.org/orca/. Awards are between $500 and $1200. Funds are limited so apply soon.
Part of the American Rescue Plan includes the upcoming Restaurant Revitalization Fund (early May). For help preparing for an application, use this link. Funds may be used by entities who have experienced pandemic-related revenue loss such as: Restaurants; Food stands, food trucks, food carts; Caterers; Bars, saloons, lounges, taverns; Snack and nonalcoholic beverage bars; Bakeries (onsite sales to the public comprise at least 33% of gross receipts); Brewpubs, tasting rooms, taprooms (onsite sales to the public comprise at least 33% of gross receipts); Breweries and/or microbreweries (onsite sales to the public comprise at least 33% of gross receipts); Wineries and distilleries (onsite sales to the public comprise at least 33% of gross receipts); Inns (onsite sales of food and beverage to the public comprise at least 33% of gross receipts); and Licensed facilities or premises of a beverage alcohol producer where the public may taste, sample, or purchase products
SOREDI has joined with community partners to host a series of business resource sessions.
What: A series of buildable webinars that will provide to help business owners maximize their effectiveness.
Who should attend: Any small business owner or (current and future!)
Cost: None! This program is generously sponsored through a Local Initiatives Support Corp. (LISC) grant.
When: Every other week, from 2 to about 2:40 pm.
Round 2 of the The Commercial Rent Relief program will be released April 22 – May 6. If your commercial tenants are in rent arrears due to the COVID-19 pandemic, consider seeing if you are eligible and apply (landlord component of the app needs to be completed first).
The Southern Oregon SBDC will offer it’s next “Restaurant Success Toolkit” webinar related to finance on April 12, 3 to 4:30 pm. Note that you are encouraged to attend, even if you missed the prior workshops. The link will allow you register or see prior workshops.
The landlord component of the Commercial Rent Relief program application is open and will remain open for a few more days. If your commercial tenants are in rent arrears due to the COVID-19 pandemic, consider seeing if you are eligible and apply.
The Rogue Business Connections community on LinkedIn allows business and nonprofit leaders in the Rogue Valley to connect and share questions, resources and solutions to the challenges that many businesses face in our region.