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Cut Bank Area Chamber of Commerce

P.O. Box 1243
Cut Bank, MT 59427
(406)873-4041

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COVID-19 bUSINESS RESOURCES

Economic Injury Disaster Loans

Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus (COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to entities without the financial ability to offset the adverse impact without hardship.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov(link sends e-mail) for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

The deadline to apply for an Economic Injury Disaster Loan is Dec. 17, 2020.

For more information about Coronavirus, please visit: Coronavirus.gov.

For more information about available SBA resources and services, please visit: SBA.gov/coronavirus.

assistance FOR SMALL BUSINESSES cARES aCT 

Paycheck Protection Program

The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.

Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.

https://home.treasury.gov/policy-issues/top-priorities/cares-act/assistance-for-small-businesses

The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.

 

Fully Forgiven Funds are provided in the form of loans that will be fully forgiven when used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.

 

Must Keep Employees on the Payroll—or Rehire Quickly

Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.

 

All Small Businesses Eligible

Small businesses with 500 or fewer employees—including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors— are eligible. Businesses with more than 500 employees are eligible in certain industries.

 

When to Apply

Starting April 3, 2020, small businesses and sole proprietorships can apply. Starting April 10, 2020, independent contractors and self-employed individuals can apply. We encourage you to apply as quickly as you can because there is a funding cap.

 

How to Apply

You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating. All loans will have the same terms regardless of lender or borrower. A list of participating lenders as well as additional information and full terms can be found at www.sba.gov.

 

The Paycheck Protection Program is implemented by the Small Business Administration with support from the Department of the Treasury. Lenders should also visit www.sba.gov or www.coronavirus.gov for more information.

UNEMPLOYMENT Resource Guide for Employers and Employees

Family Connections Child Care Services

Contact via email here or call us in Great Falls at 406.761.6010 or in Havre at 406.265.6743. 

Family Connections Child Care Services and Emergency Related Services Available: 

• Refer Emergency workers who need access to child care with referrals to child cares with openings. 

• Refer families whose child care closed or need to find child care to child cares with openings. 

• Best Beginnings Child Care Scholarships to help eligible families pay for child care. 

• Child Care Professional Development courses available online for child care providers. 

• Help businesses create solutions for child care for their employees. 

• Assist child care programs and families with child care policies and rules from state entities. 

• Connect child care workers whose child care has closed with open child cares or emergency child care needing additional staff. 

• Help child care programs that have changes in enrollment or experienced emergency expenses access emergency funding. 

Family Connections is a private nonprofit entity and is the Child Care Resource and Referral agency proudly serving twenty-three counties in north central and north eastern Montana.

Montana manufacturing extension center

If you are a Montana manufacturer and have the ability to assist with items of critical need, or if you are looking for resources for your company to sustain operations, please click here.  MMEC will provide assistance to your company at no charge for services to assist in making critical items and/or to help keep your company afloat during this difficult time.  Please contact us for more information.

If you are a health provider, emergency responder, or other organization on the front line of the fight against the spread of Corona virus and are in need of manufactured products to safeguard your employees and/or the public, please contact us and we will help connect you with manufacturers in the state.