The new COVID-19 relief signed by President Donald Trump on Sunday night includes $ 284 billion for a new round of the paycheck protection program. The bill provides forgivable loans to eligible businesses.
For businesses in the Bradenton area, the application process is similar to previous cycles.
“We encourage local business owners and employers to start with their local bank / financial institution and their corporate accountant. While we expect the P3 application for first-time applicants to be similar to previous cycles, lenders are awaiting details from the SBA on this and the requirements of the “second-time opportunity application”. draw, “” Jacki Dezelski, president and CEO of the Manatee Chamber of Commerce, said in an email Monday.
Janene Amick, executive director of the Manatee Performing Arts Center, said PPP funding has been important in helping to keep her team together during the pandemic, while also developing new ways to provide entertainment to the community.
One example is the outdoor theater program, in partnership with the Bradenton Kiwanis Club, which presents free monthly movies to the community.
Legislation Trump signed provides $ 15 billion for cinemas and other entertainment venues hard hit by the pandemic.
“We are weighing our options,” Amick said of the possibilities for help offered by the federal bill.
John Horne, owner and CEO of four Anna Maria Oyster Bar restaurants in the Bradenton area, said the Paycheck Protection Program allowed him to continue paying his staff when Gov. Ron DeSantis ordered restaurants to close and retailers to curb the spread of COVID-19 earlier this year.
“We fully intend to apply again, if we are eligible,” said Horne.
The new legislation also allows nonprofits, such as the Manatee Chamber of Commerce and the Florida Restaurant and Lodging Association, to apply for PPP funding for this cycle, Horne said.
Jeanne Dooley, owner of Tasting Room Craft Growlers to Go in Lakewood Ranch, said the P3 was important in helping her keep its doors open and that she plans to apply for a new round of funding.
“These are difficult times. PPP has helped us take care of our employees. It certainly helped, ”she said. “Thank goodness Trump signed the bill.”
This new legislation makes adjustments to the eligibility for initial PPP loans, the loan cancellation process and the tax treatment of PPP loans, Dezelski said.
Congress also made changes to the Economic Disaster Loan (EIDL) program, employee retention tax credit, and SBA loan programs, as well as a Shuttered Venue grant program, all designed to benefit small businesses. The Manatee Chamber of Commerce will continue to share updates on www.RecoverManatee.com website to help businesses and individuals learn more about available help and connect to official resources, Dezelski said.
While the Manatee County government has not played a role in PPP assistance to local businesses and the new bill does not include additional funding for local distribution, county spokesperson Nick Azzara said county leaders were delighted to see the package extend the time frame for counties to disburse CARES. funding provided earlier this year.
The county administration team is now working with the financial management department to review the omnibus package and determine if / how it will impact the current CARES law processes. All proposed updates and changes will be submitted to county commissioners in January, Azzara said in an email.
County staff spent months reviewing, auditing, approving and disbursing millions of dollars to thousands of local candidates and will continue to do well in 2021, Azzara said.
Any local business owner / employer who would like to be added to the Manatee Chamber of Commerce email updates can email [email protected]
This story was originally published December 28, 2020 2:33 p.m.