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Creating opportunities for people to live, work, & thrive on the Lower Cape
Inside Scoop - April 2021
Bringing you the latest tools to help your business.


Looking out the window this morning, spring is in the air in so many ways. Spring is a sign of renewal and a feeling of hope. Let's make the most of hope and position your business for the coming summer. Here are some resources to help; additionally, CDP Staff is available to provide assistance as you prepare for the coming year!

April's Inside Scoop:

  • CDP and WE CAN spring workshops: Human Resources and Social Media
  • SBA COVID Programs for Small Business
  • Get Your Business Online Workshop with Cape Cod Technology Council
  • CDBG Forgivable Loans - Funding still available, act now before it's too late
  • QuickBooks Help
  • Cape Cod Technology Council Survey
  • SCORE Cape Cod upcoming workshops
  • COVID 19 Resiliency Workshops with Cape Cod Commission
  • Center for Corporate and Professional Education workshops
  • Business Legal Consults
  • CDP Business Assistance staff is here to help - Make an appointment now

As always, if there is a 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.

Stay Well!

Pam

CDP and WE CAN offer two spring workshops

  • Human Resources for Small Business with Attorney Julie Moore - April 29th

  • Social Media for Small Business with Shayna Ferullo - May 13th

To register call 508-430-8111 or email info@wecancenter.org
NEW SBA COVID Relief Programs
SBA Restaurant Revitalization Fund Application and Guidelines

Monday, the Small Business Administration (SBA) released guidelines for the Restaurant Revitalization Fund application. This is the official guidance we’ve been waiting for, including information about the documentation you’ll need to provide and a sample application. We expect the portal to begin accepting applications by the end of April. Over the next few weeks, we encourage you to get everything ready so you can apply on day one.
 
 
This first-of-its kind grant program provides debt-free support in the amount of annual revenue lost from 2019 and 2020, with special provisions for businesses that opened in 2020 and 2019. Grants can only be used on eligible expenses incurred starting on February 15, 2020 and ending on March 11, 2023. Eligible expenses include:
  • Payroll (excluding employee compensation exceeding $100,000/year), employee benefits, and paid sick leave;
  • Mortgage, rent, and utilities;
  • Maintenance;
  • Outdoor seating construction;
  • Supplies, protective equipment, and cleaning materials;
  • Food and beverage;
  • Operational expenses; 
  • And principal business payments for business debt. 
 
For the first 21 days of the program, the SBA will prioritize awarding grants to women or Veteran-owned businesses, and socially and economically disadvantaged groups, including Black Americans, Hispanic Americans, Native Americans, Asian Pacific Americans and Subcontinent Asian Americans. And for the first time the SBA will provide an application in Spanish. For more information, stay tuned to the SBA’s site and on the Save Our Restaurants resources page.
Shuttered Venue Operators Grant

Update from the SBA regarding reopening the application portal.
Targeted EIDL Advance

The COVID-19 Targeted EIDL Advance was signed into law on December 27, 2020, as part of the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act. The Targeted EIDL Advance provides businesses in low-income communities with additional funds to ensure small business continuity, adaptation, and resiliency. (This includes Provincetown, Truro, Wellfleet and part of Brewster per the SBA map reference below.)

Advance funds of up to $10,000 will be available to applicants in low-income communities who previously received an EIDL Advance for less than $10,000, or those who applied but received no funds due to lack of available program funding.

Applicants do not need to take any action.
SBA is reaching out to those who qualify.

SBA first reached out to EIDL applicants who already received a partial EIDL Advance (between $1,000 - $9,000). Applicants are being contacted directly by SBA via email with instructions to determine eligibility and submit documentation. 
All communication from SBA will be sent from an official government email account ending with @sba.gov. Please do not send sensitive information via email to any address that does not end with @sba.gov.
Applicants may qualify if they:
  • Are in a low-income community. To help applicants determine if they are in a low-income community as defined in section 45D(e) of the Internal Revenue Code, a mapping tool is available at https://sbaeidl.policymap.com/app. The business address must be in a low-income community to qualify so SBA encourages potential applicants to check the map to see if they meet the low-income community eligibility requirement before they apply; and
  • Can demonstrate more than 30% reduction in revenue during an eight-week period beginning on March 2, 2020, or later. If an applicant meets the low-income community criteria, they will be asked to provide gross monthly revenue (all forms of combined monthly earnings received, such as profits or salaries) to confirm the 30% reduction. 
 
Next, SBA is reaching out to those who applied for EIDL assistance on or before December 27, 2020, but did not receive an EIDL Advance due to lack of program funding. These applicants will receive an email from SBA with instructions to determine eligibility and submit documentation. Applicants may qualify for a Targeted EIDL Advance if they meet the low-income location and reduction-in-revenue criteria, and:
  • Have 300 or fewer employees. Business entities normally eligible for the EIDL program are eligible, including sole proprietors, independent contractors, and private, nonprofit organizations. Agricultural enterprises are not eligible. 
 
All applicants may be asked to provide an IRS Form 4506-T to allow SBA to request tax return information on the applicant's behalf.

Please do not submit duplicate COVID-19 EIDL applications. Only prior applicants will be considered for the Targeted EIDL Advance.

SBA will reach out if you qualify.
Paycheck Protection Program

The Paycheck Protection Program (PPP) is a loan designed to provide a direct incentive for small businesses to keep their workers on payroll. Borrowers may be eligible for PPP loan forgiveness.
SBA is currently offering PPP loans until May 31, 2021. President Biden announced program changes to make access to PPP loans more equitable.
1. Find a lender:
2. Identify a loan:
  • First Draw PPP loans: If you have not received a PPP loan before, First Draw PPP loans are available to you.
  • Second Draw PPP loans: If you have previously received a PPP loan, certain businesses are eligible for a Second Draw PPP loan.

If you need assistance with your application the CDP is here to help. Please contact Pam pam@capecdp.org or 508-240-7873 x18.

Get your Business Online


The Cape Cod Technology Council, in partnership with EforAll Cape Cod, is offering a 6 class workshop series entitled “Get Your Business Online” for 12 small businesses which will include online classroom instruction and mentorship. Thanks to a grant from the Massachusetts Growth Capital Corporation, these classes are being offered at no cost. Interested small business owners may apply online here.

Classes begin in May and will continue for six weeks (skipping Memorial Day week).

In addition to the specific skills being offered, these classes help Cape Cod entrepreneurs build a professional network and improve business know-how.

Entrepreneurs are facing additional challenges posed by COVID-19. This program is built specifically to help small businesses hurt by the restrictions and closures resulting from COVID-19.
QuickBooks Help tailored to your needs!

Did you struggle putting your records together to give your accountant?
Do you use QuickBooks but need to learn how it can do a better job for you and provide you with the information you need when you need it?

CDP Staff offers QuickBooks help. Follow the link below and schedule an appointment to get your business on track. There is still time to prepare now before summer arrives and make life simpler for tax season.
Cape Cod Tech Council Wifi Needs Survey

The Cape Cod Tech Council needs input related to WIFI access across Cape Cod. They are looking for feedback from all communities to identify needs. Please share your experience and, if you know of others that have a lack of WIFI access, please help them fill out the survey as well.
SCORE Cape Cod continually offers workshops for small business owners in our area. Here are some that are coming up. Visit SCORE Cape Cod to see the full list of live remote sessions and the list of previously recorded webinars on a wide range of topics. Additionally, SCORE Boston and SCORE Nation offer many live webinars to help you get your business on track.


Thursday | April 29| 10:00
Get best practices for creating a YouTube Channel and compelling video content that promotes your products and services and drives engagement with your brand.
In this workshop we’ll discuss best practices for:
  • Understanding different video formats
  • How to setup a YouTube channel
  • Making good creative, and how to target and measure the results


Tuesday | May 11 | 10:00
As activities become increasingly "virtual," information we used to share in person is now often exchanged using Zoom or other forms of video-conferencing. It's great if everything works, but awkward if presentation mechanics distract from your message. This live session looks at PowerPoint and Zoom features you can use to enhance live, on-screen presentations, and deliver them seamlessly.

Thursday | April 22 | 2:00
Learn how to make your business easier to find online. This workshop explains how Google Search works and how you can improve your website's visibility with Search Engine Optimization (SEO). The session also introduces products like Business Profile on Google, Google Trends, Search Console, Google Analytics, Google Ads, and more.

In this workshop we’ll discuss best practices for:
  • Improving your website’s visibility in Google’s organic search results, on all devices
  • Creating a free Business Profile on Google
  • Advertising your business on Google
"Tips from SCORE " 2020 edition is available for free download. It provides hints, tips and techniques for owning, managing and growing a small business.




COVID-19 Recovery and Resiliency Workshop Series
 
The Cape Cod Commission is pleased to present the second round of its COVID-19 Recovery and Resiliency Workshop Series, an initiative designed to assist business owners in navigating the economic impacts of the pandemic and planning for future resiliency. This round of virtual workshops will introduce industry-specific COVID-19 Recovery and Resiliency Toolkits that offer business owners a suite of strategies tailored to address the challenges facing Cape Cod businesses.
 
The industry-specific resilience toolkit webinar series schedule is as follows:  
Center for Corporate and Professional Education at Cape Cod Community College - is offering free training through June 30th on a variety of topics. If you would like to find out if your employer is eligible to send their employees at no cost (highly likely), contact Danielle Dupuis, Program Coordinator, at ddupuis@capecod.edu prior to registering for this program. 

Upcoming Workshops

April 29th
Human Resources for Small Business

May 13th
Social Media for Small Business

Business Law Legal Consults
2nd Tuesday of the Month


Individual QuickBooks Help

cdp
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.
The CDP offers Individual Business Guidance in a number of ways.
How can we help your business?
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?

Professional Services Grants Still Available for 2020.

Many businesses are finding the need to change their business model in these turbulent times. The CDP has Grant Funds available to help business owners hire specialized consultants to quickly implement these changes whether in technology, legal or marketing.
Make an appointment to learn more and to help stabilize or grow your business.
SCORE


Individual Mentoring through SCORE

SCORE offers individual mentoring across the Cape. The CDP partners with SCORE to offer mentoring on the Lower Cape. Due to COVID19 all SCORE Mentoring Session are currently being help remotely. Please register with SCORE using the link below.
The CDP's small business and technical assistance programs are made possible by the following funders:
Mass Growth Capital Corporation
USDA Rural Business Development Grant
Barnstable County Economic Development Commission
Cape Cod Foundation
Cape Cod Five Charitable Foundation Trust
Rockland Trust
TD Charitable Foundation
Santander Bank
This institution is an equal opportunity provider and employer.