Creating opportunities for people to live, work, & thrive on the Lower Cape |
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Inside Scoop - August 2020 |
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Bringing you the latest tools to help your business.
Believe it or not the end of August is upon us. This fall is very uncertain, as has been all of 2020. CDP staff are available to help you plan and prepare for the uncertain times ahead.
What you will find in August's Inside Scoop:
- CDBG Forgivable Loan Program Update!
- COVID- 19 Updated Travel Order
- Mass Hire - WorkShare program.
- Cape Cod Business Impacts Survey
- CDP Business Assistance staff are here to help.
- WE CAN/CDP fall GROW Group Information Sessions in September.
- WE CAN/CDP free individual business legal consults.
As always if there is business topic that comes up for which you need more information or assistance please email or call. CDP staff will help find resources to answer your questions.
Pam
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COVID-19 Small Business Fund
Coming in September, the CDP will be offering a forgivable loan program for small businesses in the 8 Lower and Outer Cape towns. This Micro-enterprise Relief Program (MRP) is designed to assist businesses with 5 or fewer employees (including the owner(s)) that have been negatively impacted due to circumstances related to the COVID-19 pandemic. The program will provide one-time forgivable loans up to $10,000 for business owners who need financial assistance to support business operational costs in order to keep the business sustainable. Funds must be used within six months of award. Applications will be accepted on a rolling basis. Funding will be awarded based on a first come, first eligible, completed application basis, subject to the availability of funding.
Eligibility Criteria Include:
- Business must have 5 or fewer employees including owner(s) at time of application.
- Business Owner(s) must meet the Low to Moderate Income criteria (check out the pre-application, you might be surprised at the income requirements)
- Business must have started their for-profit operations prior to 1/1/2019
- Must demonstrate a COVID related loss
CDP staff will be participating in CDBG Training for this program in early September. Once the training has been completed we will finalize the small business application.
To help you stay informed, we have developed a pre-application for businesses that are interested in this program. We will email the full application to anyone who has filled out a pre-application and advertise the program across the region.
What should you do now?
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If you have not already, fill out the pre-application. If you have already submitted a pre-application you will receive a separate email to let you know what documents to prepare.
- Get your documents ready! What do you need?
- 2019 Business & Personal Tax returns (if you are on extension, your 2018 returns are acceptable)
- Get your income and expenses put together for 2020 by month, if you can. These are needed to demonstrate your COVID-19 losses.
- If you have employees, you will need copies of your 941's.
If you need help getting these documents put together please ask for help. Who can help? Bookkeeper, accountant, family member, friend, CDP Staff.
Call Pam (508)240-7873 x18 or email today if we can help you get prepared.
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COVID 19 Travel Order Update |
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Governor Baker announced last week that effective August 1st, all travelers entering Massachusetts—both out of state residents and Massachusetts residents returning home—must comply with a new travel order. This includes students returning to campuses for the fall semester.
The new travel order requires all visitors and returning residents to fill out a Massachusetts Traveler Form unless they are coming from a state that has been designated a lower risk COVID-19 state or fall into an exemption category. Currently, the lower risk COVID-19 states are NY, NJ, CT, ME, VT, and NH. All lodging and short term rental entities are required to inform guests at time of booking, on websites and on-site. All lower risk states will be updated regularly by DPH.
Click here to read the full details and updates of this travel order.
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Cape Cod Commission and Cape Cod Chamber of Commerce Launch Second Survey of COVID-19 Business Impacts
Survey seeks to better understand the impacts of
COVID-19 amid reopening
For Immediate Release (August 7, 2020) – Building on an effort launched earlier this summer, the Cape Cod Commission and the Cape Cod Chamber of Commerce have issued a second online survey to Cape Cod business owners to understand the continuing impacts of the COVID-19 pandemic.
The initial survey responses provide data to inform the region’s economic recovery that can be leveraged by businesses, towns, and other organizations in future grant applications and reports. This second survey aims to capture new data from businesses in an effort to dive deeper into the impacts of COVID-19 during Cape Cod’s peak summer season.
“For many of our small businesses, now is the time to bring in the revenue that will sustain them all year,” said Wendy Northcross, Cape Cod Chamber of Commerce CEO. “Survey responses will show how the pandemic is impacting our businesses during this peak time and will help us refine a strategy for recovery.”
The survey again addresses businesses’ operational and workforce impacts. Business owners are also asked to share information about resources they have leveraged or are still needed to aid in recovery efforts.
“Data collected from our first survey laid the groundwork for strategic recovery,” said Cape Cod Commission Executive Director Kristy Senatori. “This new data will provide critical information from businesses and organizations during our region’s busy summer season.”
Responses are held confidentially and results reported out in aggregate. Business owners, including past survey participants, are encouraged to respond.
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The CDP is now offering Office Hours and QuickBooks help using remote tools.
What can we do?
Help you get your record keeping up to date.
Update your business plan
Help you fill out a disaster relief loan application.
Answer questions and provide resources.
Make an appointment to meet with staff via phone, Skype or Zoom.
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GROW Information Sessions
WE CAN and the CDP will again offer the GROW (Get Results with Others' Wisdom) program this fall. This program for women business owners offers facilitated peer mentoring, accountability, and a safe and confidential setting to work on adapting, stabilizing and/or growing your business in this new economy. The GROW program is facilitated by experienced business owners.
The GROW program will start in November and sessions will be held monthly for 6 months. To apply for the program visit WE CAN. Application deadline is October 14th.
If you want to learn more, come to one of our zoom info session:
Monday September 21 at 9:00 am
Tuesday September 29 at 5:30 pm
The CDP can provide Technical Assistance if you have not used Zoom before.
The GROW program is facilitated by WE CAN volunteers Virginia Auciello Sullivan and Jean Mojo. Virginia is the President of Auciello Associates, a trainer for Non- Profit Management, a Certified Professional Coach, and has devoted her career to fostering individual growth and development for her clients. Jean is an experienced leader of brands and agencies, with a background in advertising and integrated marketing. She was the President and CEO of Einson Freeman for 21 years, and has been an adjunct professor at both Boston College and Cape Cod Community College.
Please register for the information sessions by calling WE CAN at 508-430-8111 or email Marina Mendoza or click the link below.
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Upcoming Workshops
We are working on our fall programming and plan to start announcing those programs shortly.
Cape & Islands Green - November 12
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Loans
The CDP has micro loans up to $50,000 for small businesses on the Lower Cape. Visit our website for complete program details and eligibility requirements.
We are able to lend to businesses that have a limited credit history, are too new to obtain a bank loan or that need help developing a business plan or cash flow projections. We even work with local banks offering loan packaging to potential applicants.
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The CDP offers Individual Business Guidance in a number of ways.
How can we help your business?
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Individual Business Guidance
Are you self-employed, a solopreneur or a small business owner, and live or work on the Lower Cape?
The CDP offers individual business guidance for all types of businesses.
What are your business needs?
Make an appointment to meet with CDP Staff via remote tools.
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Professional Services Grants Still Available for 2020.
The CDP has Grant funds available for customized consulting services for small business clients on the Lower Cape who meet the eligibility criteria. These business owners will be able to hire specialized consultants to work on a pre-approved scope of services that will result in business stabilization, growth, and job preservation and/or creation.
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Individual Mentoring through SCORE
SCORE offers individual mentoring across the Cape. The CDP partners with SCORE to offer mentoring on the Lower Cape. Mentors meet with individual business owners in Eastham instead of requiring travel to Hyannis.
Upcoming Mentoring Sessions
Ongoing remote meetings can be set up with Cape Cod Mentors at your request. Please register with SCORE using the link below or email the CDP. |
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The CDP's small business and technical assistance programs are made possible by the following funders: |
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Mass Growth Capital Corporation
USDA Rural Business Development Grant
Cape Air
Cape Cod Five Charitable Foundation Trust
TD Charitable Foundation
Santander Bank
Seamen's Bank Long Point Charitable Foundation
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This institution is an equal opportunity provider and employer. |
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