We know this situation is having and will continue to have a major impact on startups and mature businesses. Our staff is here for you – please reach out to let us know how we can help. We are determined to continue the mission of capacity-building, advocacy and networking and will provide our constituents with regular updates related to business resources, assistance, canceled or rescheduled events.
We appreciate your continued support during these trying times and hope to see you later in the year. You can always visit our website, where we’re constantly working to gather the latest information about COVID-19 and the resources and tools available to help your business. For assistance please call: 417-837-2631 or 417-864-7444 or email: info@sgfmib.com If you leave a message, someone will respond as soon as possible.
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11 a.m. — 12:30 p.m. (EDT)
Click Here To Register
To confront the biggest question that we are all facing today – how does minority business survive and even thrive during the COVID-19 crisis? NMSDC invites you to join us for a very special live Virtual Town Hall on Friday, April 3, about the CARES Act and what this federal stimulus package can do for minority business.
Senator Tim Scott, involved in crafting the largest stimulus package in American history, will be joining us for Friday’s essential conversation. He, along with a special guest from The White House policy team, will provide specific details of the package and answer your questions about what it is designed to achieve.
Get first-hand information about:
• The key elements of the package
• Who and what qualifies for emergency coverage
• The scale and scope of the coverage
• The parameters and limits of the coverage
• The application process
• When you might expect to receive assistance
This Town Hall is the place to cut to the chase during this critical moment and will provide the opportunity to ask pertinent questions and get the answers you need for your business. Minority Business Enterprises (MBEs), corporate members and NMSDC affiliate presidents are urged to participate in this vital conversation about our current business environment, and how it impacts the future of NMSDC and minority supplier development.
Click Here To Register
However, I trust the podcast is informative to those who may tune in to listen.
— H. Wes Pratt
Click here to listen.
The CARES Act establishes a new $349 billion Paycheck Protection Program. The Program will provide much-needed relief to millions of small businesses so they can sustain their businesses and keep their workers employed.
“This unprecedented public-private partnership is going to assist small businesses with accessing capital quickly. Our goal is to position lenders as the single point-of-contact for small businesses – the application, loan processing, and disbursement of funds will all be administered at the community level,” said Administrator Carranza. “Speed is the operative word; applications for the emergency capital can begin as early as this week, with lenders using their own systems and processes to make these loans. We remain committed to supporting our nation’s more than 30 million small businesses and their employees, so that they can continue to be the fuel for our nation’s economic engine.”
“This legislation provides small business job retention loans to provide eight weeks of payroll and certain overhead to keep workers employed,” said Secretary Mnuchin. “Treasury and the Small Business Administration expect to have this program up and running by April 3rd so that businesses can go to a participating SBA 7(a) lender, bank, or credit union, apply for a loan, and be approved on the same day. The loans will be forgiven as long as the funds are used to keep employees on the payroll and for certain other expenses.”
The new loan program will help small businesses with their payroll and other business operating expenses. It will provide critical capital to businesses without collateral requirements, personal guarantees, or SBA fees – all with a 100% guarantee from SBA. All loan payments will be deferred for six months. Most importantly, the SBA will forgive the portion of the loan proceeds that are used to cover the first eight weeks of payroll costs, rent, utilities, and mortgage interest.
The Paycheck Protection Program is specifically designed to help small businesses keep their workforce employed. Visit SBA.gov/Coronavirus for more information on the Paycheck Protection Program.
Read the full press release
On Tuesday, March 24, the City of Springfield and Greene County each issued “stay at home” orders to protect the public health with new regulations that impact businesses, organizations and employees operating in the area. The orders are substantially similar in scope.
Each begins at 12:01 a.m. on Thursday, March 26, and lasts 30 days unless renewed or withdrawn. Each order contains information regarding the types of businesses that are considered essential and can continue to operate and provide goods and services, within certain parameters, for the duration of the order.
Most other municipalities in our area have implemented similar orders as well. Click the heading below for detailed information about the orders for your community.
Understanding the “stay at home” order:
Springfield “stay at home” order, including the essential business list
Greene County “stay at home” order, including the essential business list
City of Springfield business hotline if you have questions: (417) 799-1570
City of Springfield email for questions: essentialbusiness@springfieldmo.gov
After reviewing the essential business information, if your business is not included in the city of Springfield’s essential categories but you feel this is in error, you may submit an essential business determination request to the City using this form.
Coronavirus Aid, Relief, and Economic Security
(CARES) Act
After almost a week of negotiations, the third coronavirus relief package was passed by Congress and signed by the President on March 27.
The nearly $2 trillion Coronavirus Aid, Relief, and Economic Security, or CARES Act, will help provide emergency assistance to organizations and individuals impacted by the COVID-19 pandemic.
Find information here at Guide to the CARES Act